HIX vs IVV
Western Asset High Income Fund II Inc. vs iShares Core S&P 500 ETF
Which is better, HIX or IVV?
Long Term High Quality 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 | HIX | IVV |
|---|---|---|
| Expense Ratio | 3.82% | 0.03%Best |
| AUM | $363M | $886.7B |
| Dividend Yield | 14.59% | 1.10% |
| Holdings | 431 | 508 |
| YTD Return | +2.30% | +13.39%Best |
| 1Y Return | +3.70% | +20.08%Best |
| 3Y Return (annualized) | +6.05% | +21.29%Best |
| 5Y Return (annualized) | -0.07% | +12.88%Best |
| Volatility (annualized) | 18.4% | 15.1%Best |
| Max Drawdown | -71.9% | -56.5%Best |
| $10,000 over 5 years | $9,965 | $18,327Best |
| Fund Family | Franklin Templeton Investments (US) | iShares by BlackRock (US) |
| Category | Fixed Income | Equity |
| Style | Long Term High Quality | Large Cap Blend |
| Inception | May 22, 1998 | 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).
HIX 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.
HIX vs IVV Performance
Western Asset High Income Fund II Inc. (HIX) 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 HIX returned +3.70% while IVV returned +20.08%. Year to date, HIX is up 2.30% versus a gain of 13.39% for IVV.
Over three years, HIX compounded at +6.05% per year against +21.29% for IVV; over five years the annualized figures are -0.07% and +12.88% respectively. Across the full 26-year window we track, IVV has the edge at +7.01% annualized vs -1.45%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HIX has been the more volatile fund, with annualized monthly volatility of 18.4% 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 -71.9% for HIX 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 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HIX charges 3.82% per year while IVV charges 0.03%. On a $10,000 position that is $382 vs $3 annually, a gap of $379 per year that compounds over a long holding period. On income, HIX currently yields 14.59% against 1.10% for IVV.
Holdings Overlap
At least 0.3% of IVV's money is in holdings HIX also owns.
Stated as a floor: for HIX, our book for it covers 79.3% 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 278 days apart, HIX as of Oct 31, 2025 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.
1 positions in common, counted across the 288 positions we hold weights for in HIX and 505 in IVV, against full books of 431 and 508.
Top Shared Holdings
| Stock | Weight in HIX | Weight in IVV | Difference |
|---|---|---|---|
| CCitigroup Inc 6.875 11/73 6.88 2173-11-15 | 0.10% | 0.35% | 0.25% |
You are not choosing between two funds in isolation.
Whichever of HIX 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, HIX or IVV?
HIX has an expense ratio of 3.82% while IVV charges 0.03%. IVV is the cheaper option, by $379 a year on a $10,000 investment.
Which performed better, HIX or IVV?
Over the past year HIX returned +3.70% vs +20.08% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), HIX annualized -1.45% vs +7.01% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HIX or IVV?
HIX has been the more volatile fund at 18.4% annualized versus 15.1% for IVV. Worst drawdown: HIX -71.9% vs IVV -56.5%.
Should I hold both HIX and IVV?
HIX and IVV have a monthly-return correlation of 0.62, 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, HIX or IVV?
HIX yields 14.59% while IVV yields 1.10%, so HIX currently pays the higher dividend yield.
Is IVV better than HIX?
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.