FVAL vs IVV
Fidelity Value Factor ETF vs iShares Core S&P 500 ETF
Which is better, FVAL or IVV?
Large Cap Value against Large Cap Blend.
IVV has a lower expense ratio. FVAL led over 1Y, IVV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 43.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FVAL | IVV |
|---|---|---|
| Expense Ratio | 0.15% | 0.03%Best |
| AUM | $1.3B | $886.7B |
| Dividend Yield | 1.56% | 1.10% |
| Holdings | 130 | 508 |
| YTD Return | +16.02%Best | +13.86% |
| 1Y Return | +26.49%Best | +21.57% |
| 3Y Return (annualized) | +20.86% | +21.48%Best |
| 5Y Return (annualized) | +12.58% | +12.88%Best |
| Volatility (annualized) | 16.3% | 15.4%Best |
| Max Drawdown | -37.7% | -33.9%Best |
| $10,000 over 5 years | $18,084 | $18,327Best |
| Top 10 Weight | 43.4% | 37.9%Best |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 12, 2016 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Sep 15, 2016 to Sep 3, 2026 (10 years).
FVAL vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 10 years both funds cover.
FVAL vs IVV Performance
Fidelity Value Factor ETF (FVAL) is an ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FVAL returned +26.49% while IVV returned +21.57%. Year to date, FVAL is up 16.02% versus a gain of 13.86% for IVV.
Over three years, FVAL compounded at +20.86% per year against +21.48% for IVV; over five years the annualized figures are +12.58% and +12.88% respectively. Across the full 10-year window we track, IVV has the edge at +14.56% annualized vs +13.81%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FVAL has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 15.4% 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 -37.7% for FVAL and -33.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FVAL charges 0.15% per year while IVV charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, FVAL currently yields 1.56% against 1.10% for IVV.
Holdings Overlap
87.2% of FVAL's money is in holdings IVV also owns. 53.7% of IVV's money is in holdings FVAL also owns.
Most of FVAL is already inside IVV. Owning both mostly buys the same companies twice.
100 positions in common, counted across the 126 positions we hold weights for in FVAL and 505 in IVV, against full books of 130 and 508.
What only one of them owns
Our book lists 398 positions for IVV that do not appear in our book for FVAL (45.6% of the fund), and 20 for FVAL that do not appear in IVV (11.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FVAL | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.70% | 7.98% | 0.28% |
| AAPLApple, Inc | 6.72% | 6.86% | 0.14% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.47% | 5.44% | 0.03% |
| GOOGLAlphabet Inc.Class A | 5.05% | 3.19% | 1.86% |
| AMZNAmazon.Com Inc | 4.10% | 4.01% | 0.09% |
| AVGOBroadcom Inc | 3.43% | 2.98% | 0.45% |
| MUMicron Technology, Inc. | 2.68% | 1.51% | 1.17% |
| METAMeta Platform Inc | 1.95% | 1.94% | 0.01% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.83% | 1.43% | 0.40% |
| LLYEli Lilly & Co. | 1.69% | 1.39% | 0.30% |
87.2% of FVAL is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FVAL or IVV?
FVAL has an expense ratio of 0.15% while IVV charges 0.03%. IVV is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, FVAL or IVV?
Over the past year FVAL returned +26.49% vs +21.57% for IVV, so FVAL leads on 1-year performance. Over the longest common window we track (10 years), FVAL annualized +13.81% vs +14.56% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FVAL or IVV?
FVAL has been the more volatile fund at 16.3% annualized versus 15.4% for IVV. Worst drawdown: FVAL -37.7% vs IVV -33.9%.
Should I hold both FVAL and IVV?
FVAL and IVV have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FVAL and IVV?
87.2% of FVAL's money is in holdings IVV also owns. 53.7% of IVV's is in holdings FVAL also owns. They hold 100 positions in common, counted across the 126 positions we hold weights for in FVAL and 505 in IVV.
Which pays a higher dividend, FVAL or IVV?
FVAL yields 1.56% while IVV yields 1.10%, so FVAL currently pays the higher dividend yield.
Is IVV better than FVAL?
IVV has a lower expense ratio. FVAL led over 1Y, IVV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 43.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.