GDL vs IVV
The GDL Fund 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 | GDL | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 2.70% | 0.03% | |
| AUM | $119M | $907.0B | |
| Dividend Yield | 4.50% | 1.10% | |
| Holdings | 129 | 508 | |
| YTD Return | +3.58% | +12.28% | |
| 1Y Return | +5.60% | +20.94% | |
| 3Y Return (annualized) | +8.39% | +21.81% | |
| 5Y Return (annualized) | +4.68% | +13.05% | |
| Volatility (annualized) | 8.5% | 15.1% | |
| Max Drawdown | -72.5% | -56.5% | |
| Fund Family | Gabelli Funds | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 25, 2007 | May 15, 2000 |
GDL vs IVV Performance
The GDL Fund (GDL) is a ETF from Gabelli Funds and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GDL returned +5.60% while IVV returned +20.94%. Year to date, GDL is up 3.58% versus a gain of 12.28% for IVV.
Over three years, GDL compounded at +8.39% per year against +21.81% for IVV; over five years the annualized figures are +4.68% and +13.05% respectively. Across the full 20-year window we track, IVV has the edge at +6.98% annualized vs -2.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% 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 worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
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 4.50% against 1.10% for IVV.
Holdings Overlap
GDL and IVV share 10 holdings out of 610 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $267 per year of difference.
Which performed better, GDL or IVV?
Over the past year GDL returned +5.60% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), GDL annualized -2.74% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, GDL or IVV?
IVV has been the more volatile fund at 15.1% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GDL and IVV?
GDL and IVV share 10 common holdings with a 0.7% weight overlap. Combined, they hold 610 unique securities.
Which pays a higher dividend, GDL or IVV?
GDL yields 4.50% while IVV yields 1.10%, so GDL currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.