GVI vs VOO
iShares Intermediate Government/Credit Bond ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. GVI offers more diversification with 6,117 holdings.
Side-by-Side Comparison
| Metric | GVI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $3.8B | $997.4B | |
| Dividend Yield | 3.64% | 1.08% | |
| Holdings | 6,117 | 509 | |
| YTD Return | -1.76% | +14.27% | |
| 1Y Return | -0.10% | +21.79% | |
| 3Y Return (annualized) | +3.77% | +22.19% | |
| 5Y Return (annualized) | +0.43% | +13.28% | |
| Volatility (annualized) | 25.2% | 14.2% | |
| Max Drawdown | -39.1% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jan 5, 2007 | Sep 7, 2010 |
GVI vs VOO Performance
iShares Intermediate Government/Credit Bond ETF (GVI) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year GVI returned -0.10% while VOO returned +21.79%. Year to date, GVI is down 1.76% versus a gain of 14.27% for VOO.
Over three years, GVI compounded at +3.77% per year against +22.19% for VOO; over five years the annualized figures are +0.43% and +13.28% respectively. Across the full 16-year window we track, VOO has the edge at +13.59% 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 14.2% for VOO. 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 -34.3% for VOO. 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GVI charges 0.20% per year while VOO 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 1.08% for VOO.
Holdings Overlap
GVI and VOO 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 VOO?
GVI has an expense ratio of 0.20% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, GVI or VOO?
Over the past year GVI returned -0.10% vs +21.79% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), GVI annualized +2.75% vs +13.59% for VOO. Past performance does not guarantee future results.
Which is riskier, GVI or VOO?
GVI has been the more volatile fund at 25.2% annualized versus 14.2% for VOO. Worst drawdown: GVI -39.1% vs VOO -34.3%.
Should I hold both GVI and VOO?
GVI and VOO have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GVI and VOO?
GVI and VOO share 3 common holdings with a 0.0% weight overlap. Combined, they hold 2663 unique securities.
Which pays a higher dividend, GVI or VOO?
GVI yields 3.64% while VOO yields 1.08%, so GVI currently pays the higher dividend yield.
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