FPRO vs IVV
Fidelity Real Estate Investment ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FPRO | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.03% | |
| AUM | $17M | $907.0B | |
| Dividend Yield | 2.45% | 1.10% | |
| Holdings | 43 | 508 | |
| YTD Return | +14.67% | +14.29% | |
| 1Y Return | +14.42% | +21.79% | |
| 3Y Return (annualized) | +10.36% | +22.19% | |
| 5Y Return (annualized) | +2.57% | +13.28% | |
| Volatility (annualized) | 18.7% | 15.1% | |
| Max Drawdown | -32.8% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2021 | May 15, 2000 |
FPRO vs IVV Performance
Fidelity Real Estate Investment ETF (FPRO) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FPRO returned +14.42% while IVV returned +21.79%. Year to date, FPRO is up 14.67% versus a gain of 14.29% for IVV.
Over three years, FPRO compounded at +10.36% per year against +22.19% for IVV; over five years the annualized figures are +2.57% and +13.28% respectively. Across the full 6-year window we track, IVV has the edge at +7.06% annualized vs +6.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPRO has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -32.8% for FPRO and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPRO charges 0.57% per year while IVV charges 0.03%. On a $10,000 position that is $57 vs $3 annually, a gap of $54 per year that compounds over a long holding period. On income, FPRO currently yields 2.45% against 1.10% for IVV.
Holdings Overlap
FPRO and IVV share 21 holdings out of 527 unique holdings combined, representing a 1.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FPRO or IVV?
FPRO has an expense ratio of 0.57% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, FPRO or IVV?
Over the past year FPRO returned +14.42% vs +21.79% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (6 years), FPRO annualized +6.67% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, FPRO or IVV?
FPRO has been the more volatile fund at 18.7% annualized versus 15.1% for IVV. Worst drawdown: FPRO -32.8% vs IVV -56.5%.
Should I hold both FPRO and IVV?
FPRO and IVV have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FPRO and IVV?
FPRO and IVV share 21 common holdings with a 1.6% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, FPRO or IVV?
FPRO yields 2.45% while IVV yields 1.10%, so FPRO currently pays the higher dividend yield.
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