HWAY vs IVV
Themes US Infrastructure ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. HWAY delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | HWAY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.03% | |
| AUM | $4M | $907.0B | |
| Dividend Yield | 1.05% | 1.10% | |
| Holdings | 197 | 508 | |
| YTD Return | +20.56% | +12.71% | |
| 1Y Return | +28.28% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 21.0% | 15.1% | |
| Max Drawdown | -25.8% | -56.5% | |
| Fund Family | Themes ETFs | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Sep 11, 2024 | May 15, 2000 |
HWAY vs IVV Performance
Themes US Infrastructure ETF (HWAY) is a ETF from Themes ETFs and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year HWAY returned +28.28% while IVV returned +21.89%. Year to date, HWAY is up 20.56% versus a gain of 12.71% for IVV.
Risk: Volatility and Drawdowns
HWAY has been the more volatile fund, with annualized monthly volatility of 21.0% 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 -25.8% for HWAY 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HWAY charges 0.29% per year while IVV charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, HWAY currently yields 1.05% against 1.10% for IVV.
Holdings Overlap
HWAY and IVV share 25 holdings out of 579 unique holdings combined, representing a 2.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HWAY or IVV?
HWAY has an expense ratio of 0.29% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, HWAY or IVV?
Over the past year HWAY returned +28.28% vs +21.89% for IVV, so HWAY leads on 1-year performance. Over the longest common window we track (2 years), HWAY annualized +25.42% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, HWAY or IVV?
HWAY has been the more volatile fund at 21.0% annualized versus 15.1% for IVV. Worst drawdown: HWAY -25.8% vs IVV -56.5%.
Should I hold both HWAY and IVV?
HWAY and IVV have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HWAY and IVV?
HWAY and IVV share 25 common holdings with a 2.8% weight overlap. Combined, they hold 579 unique securities.
Which pays a higher dividend, HWAY or IVV?
HWAY yields 1.05% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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