GDL vs IVV
The GDL Fund vs iShares Core S&P 500 ETF
Which is better, GDL or IVV?
Mid Cap Blend against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
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 | GDL | IVV |
|---|---|---|
| Expense Ratio | 2.70% | 0.03%Best |
| AUM | $119M | $876.4B |
| Dividend Yield | 4.46% | 1.06% |
| Holdings | 129 | 508 |
| YTD Return | +3.03% | +11.03%Best |
| 1Y Return | +3.32% | +15.62%Best |
| 3Y Return (annualized) | +8.06% | +20.81%Best |
| 5Y Return (annualized) | +4.22% | +12.61%Best |
| Volatility (annualized) | 8.5%Best | 15.5% |
| Max Drawdown | -72.5% | -56.5%Best |
| $10,000 over 5 years | $12,296 | $18,109Best |
| Fund Family | Gabelli Funds | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Jan 25, 2007 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 26, 2007 to Sep 16, 2026 (19.6 years).
GDL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
GDL vs IVV Performance
The GDL Fund (GDL) is an ETF from Gabelli Funds and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year GDL returned +3.32% while IVV returned +15.62%. Year to date, GDL is up 3.03% versus a gain of 11.03% for IVV.
Over three years, GDL compounded at +8.06% per year against +20.81% for IVV; over five years the annualized figures are +4.22% and +12.61% respectively. Across the full 20-year window we track, IVV has the edge at +9.31% annualized vs -2.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 8.5% for GDL. 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 -72.5% for GDL and -56.5% 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 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GDL charges 2.70% per year while IVV charges 0.03%. On a $10,000 position that is $270 vs $3 annually, a gap of $267 per year that compounds over a long holding period. On income, GDL currently yields 4.46% against 1.06% for IVV.
Holdings Overlap
At least 1.0% of IVV's money is in holdings GDL also owns.
Stated as a floor: for GDL, our book for it covers 82.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 153 days apart, GDL as of Mar 31, 2026 and IVV as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
9 positions in common, counted across the 115 positions we hold weights for in GDL and 490 in IVV, against full books of 129 and 508.
Top Shared Holdings
| Stock | Weight in GDL | Weight in IVV | Difference |
|---|---|---|---|
| WBDWarner Bros. Discovery, Inc | 3.07% | 0.11% | 2.96% |
| HOLXHologic Inc Sedol 2433530 | 2.74% | 0.00% | 2.74% |
| AESAes Corporation | 1.92% | 0.02% | 1.90% |
| BABoeing Co | 0.59% | 0.25% | 0.34% |
| NSCNorfolk Southern Corp | 0.55% | 0.12% | 0.43% |
| SLBSchlumberger Nv. | 0.25% | 0.14% | 0.11% |
| KVUEKenvue Inc | 0.15% | 0.05% | 0.10% |
| GENGen Digital Inc | 0.00% | 0.03% | 0.03% |
| UNPUnion Pacific Corp | -0.46% | 0.27% | 0.73% |
You are not choosing between two funds in isolation.
Whichever of GDL and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GDL or IVV?
GDL has an expense ratio of 2.70% while IVV charges 0.03%. IVV is the cheaper option, by $267 a year on a $10,000 investment.
Which performed better, GDL or IVV?
Over the past year GDL returned +3.32% vs +15.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), GDL annualized -2.76% vs +9.31% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GDL or IVV?
IVV has been the more volatile fund at 15.5% annualized versus 8.5% for GDL. Worst drawdown: GDL -72.5% vs IVV -56.5%.
Should I hold both GDL and IVV?
GDL and IVV have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GDL or IVV?
GDL yields 4.46% while IVV yields 1.06%, so GDL currently pays the higher dividend yield.
Is IVV better than GDL?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.