GARP vs IVV
iShares MSCI USA Quality GARP ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. GARP delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | GARP | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $3.0B | $907.0B | |
| Dividend Yield | 0.27% | 1.10% | |
| Holdings | 135 | 508 | |
| YTD Return | +20.45% | +12.28% | |
| 1Y Return | +35.44% | +20.94% | |
| 3Y Return (annualized) | +32.32% | +21.81% | |
| 5Y Return (annualized) | +17.98% | +13.05% | |
| Volatility (annualized) | 20.4% | 15.1% | |
| Max Drawdown | -31.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 14, 2020 | May 15, 2000 |
GARP vs IVV Performance
iShares MSCI USA Quality GARP ETF (GARP) is a ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GARP returned +35.44% while IVV returned +20.94%. Year to date, GARP is up 20.45% versus a gain of 12.28% for IVV.
Over three years, GARP compounded at +32.32% per year against +21.81% for IVV; over five years the annualized figures are +17.98% and +13.05% respectively. Across the full 7-year window we track, GARP has the edge at +20.39% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GARP has been the more volatile fund, with annualized monthly volatility of 20.4% 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 -31.3% for GARP 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GARP 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, GARP currently yields 0.27% against 1.10% for IVV.
Holdings Overlap
GARP and IVV share 94 holdings out of 543 unique holdings combined, representing a 40.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GARP or IVV?
GARP has an expense ratio of 0.15% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, GARP or IVV?
Over the past year GARP returned +35.44% vs +20.94% for IVV, so GARP leads on 1-year performance. Over the longest common window we track (7 years), GARP annualized +20.39% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, GARP or IVV?
GARP has been the more volatile fund at 20.4% annualized versus 15.1% for IVV. Worst drawdown: GARP -31.3% vs IVV -56.5%.
Should I hold both GARP and IVV?
GARP and IVV have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between GARP and IVV?
GARP and IVV share 94 common holdings with a 40.7% weight overlap. Combined, they hold 543 unique securities.
Which pays a higher dividend, GARP or IVV?
GARP yields 0.27% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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