GVI vs IVV
iShares Intermediate Government/Credit Bond ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. GVI offers more diversification with 6,117 holdings.
Side-by-Side Comparison
| Metric | GVI | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $3.8B | $907.0B | |
| Dividend Yield | 3.64% | 1.10% | |
| Holdings | 6,117 | 508 | |
| YTD Return | -1.78% | +12.28% | |
| 1Y Return | -0.17% | +20.94% | |
| 3Y Return (annualized) | +3.86% | +21.81% | |
| 5Y Return (annualized) | +0.44% | +13.05% | |
| Volatility (annualized) | 25.2% | 15.1% | |
| Max Drawdown | -39.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jan 5, 2007 | May 15, 2000 |
GVI vs IVV Performance
iShares Intermediate Government/Credit Bond ETF (GVI) 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 GVI returned -0.17% while IVV returned +20.94%. Year to date, GVI is down 1.78% versus a gain of 12.28% for IVV.
Over three years, GVI compounded at +3.86% per year against +21.81% for IVV; over five years the annualized figures are +0.44% and +13.05% respectively. Across the full 20-year window we track, IVV has the edge at +6.98% annualized vs +2.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GVI has been the more volatile fund, with annualized monthly volatility of 25.2% 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 -39.1% for GVI 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 0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GVI charges 0.20% per year while IVV charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, GVI currently yields 3.64% against 1.10% for IVV.
Holdings Overlap
GVI and IVV share 3 holdings out of 2663 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GVI or IVV?
GVI has an expense ratio of 0.20% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, GVI or IVV?
Over the past year GVI returned -0.17% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), GVI annualized +2.75% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, GVI or IVV?
GVI has been the more volatile fund at 25.2% annualized versus 15.1% for IVV. Worst drawdown: GVI -39.1% vs IVV -56.5%.
Should I hold both GVI and IVV?
GVI and IVV have a monthly-return correlation of 0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GVI and IVV?
GVI and IVV share 3 common holdings with a 0.0% weight overlap. Combined, they hold 2663 unique securities.
Which pays a higher dividend, GVI or IVV?
GVI yields 3.64% while IVV yields 1.10%, so GVI currently pays the higher dividend yield.
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