HIO vs IVV
Western Asset High Income Opportunity Fund Inc. vs iShares Core S&P 500 ETF
Which is better, HIO or IVV?
High Yield Bond 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 | HIO | IVV |
|---|---|---|
| Expense Ratio | 0.94% | 0.03%Best |
| AUM | $365M | $886.7B |
| Dividend Yield | 11.09% | 1.10% |
| Holdings | 338 | 508 |
| YTD Return | +1.38% | +13.39%Best |
| 1Y Return | -1.48% | +20.08%Best |
| 3Y Return (annualized) | +8.37% | +21.29%Best |
| 5Y Return (annualized) | +1.58% | +12.88%Best |
| Volatility (annualized) | 13.3%Best | 15.1% |
| Max Drawdown | -68.8% | -56.5%Best |
| $10,000 over 5 years | $10,815 | $18,327Best |
| Fund Family | Franklin Templeton Investments (US) | iShares by BlackRock (US) |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Oct 22, 1993 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 4, 2026 (26.3 years).
HIO 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 covers the 26.3 years both funds cover.
HIO vs IVV Performance
Western Asset High Income Opportunity Fund Inc. (HIO) is an ETF from Franklin Templeton Investments (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year HIO returned -1.48% while IVV returned +20.08%. Year to date, HIO is up 1.38% versus a gain of 13.39% for IVV.
Over three years, HIO compounded at +8.37% per year against +21.29% for IVV; over five years the annualized figures are +1.58% and +12.88% respectively. Across the full 26-year window we track, IVV has the edge at +7.01% annualized vs -1.29%.
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 13.3% for HIO. 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 -68.8% for HIO 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 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HIO charges 0.94% per year while IVV charges 0.03%. On a $10,000 position that is $94 vs $3 annually, a gap of $91 per year that compounds over a long holding period. On income, HIO currently yields 11.09% against 1.10% for IVV.
Holdings Overlap
We hold position weights for 213 holdings in HIO and 505 in IVV, totalling 73.9% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 187 days apart, HIO as of Jan 30, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 213 positions we hold weights for in HIO and 505 in IVV, against full books of 338 and 508.
You are not choosing between two funds in isolation.
Whichever of HIO 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, HIO or IVV?
HIO has an expense ratio of 0.94% while IVV charges 0.03%. IVV is the cheaper option, by $91 a year on a $10,000 investment.
Which performed better, HIO or IVV?
Over the past year HIO returned -1.48% vs +20.08% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), HIO annualized -1.29% vs +7.01% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HIO or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 13.3% for HIO. Worst drawdown: HIO -68.8% vs IVV -56.5%.
Should I hold both HIO and IVV?
HIO and IVV have a monthly-return correlation of 0.59, 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, HIO or IVV?
HIO yields 11.09% while IVV yields 1.10%, so HIO currently pays the higher dividend yield.
Is IVV better than HIO?
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.