INVG vs IVV
GMO Systematic Investment Grade Credit ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | INVG | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.03% | |
| AUM | $24M | $907.0B | |
| Dividend Yield | 5.30% | 1.10% | |
| Holdings | 127 | 508 | |
| YTD Return | -0.09% | +14.29% | |
| 1Y Return | +2.14% | +21.79% | |
| 3Y Return (annualized) | - | +22.19% | |
| 5Y Return (annualized) | - | +13.28% | |
| Volatility (annualized) | 3.4% | 15.1% | |
| Max Drawdown | -3.1% | -56.5% | |
| Fund Family | GMO | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 3, 2025 | May 15, 2000 |
INVG vs IVV Performance
GMO Systematic Investment Grade Credit ETF (INVG) is a ETF from GMO and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year INVG returned +2.14% while IVV returned +21.79%. Year to date, INVG is down 0.09% versus a gain of 14.29% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.4% for INVG. 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 -3.1% for INVG 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
INVG charges 0.25% per year while IVV charges 0.03%. On a $10,000 position that is $25 vs $3 annually, a gap of $22 per year that compounds over a long holding period. On income, INVG currently yields 5.30% against 1.10% for IVV.
Holdings Overlap
INVG and IVV share 0 holdings out of 618 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, INVG or IVV?
INVG has an expense ratio of 0.25% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, INVG or IVV?
Over the past year INVG returned +2.14% vs +21.79% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (1 years), INVG annualized +3.82% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, INVG or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.4% for INVG. Worst drawdown: INVG -3.1% vs IVV -56.5%.
Should I hold both INVG and IVV?
INVG and IVV have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between INVG and IVV?
INVG and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 618 unique securities.
Which pays a higher dividend, INVG or IVV?
INVG yields 5.30% while IVV yields 1.10%, so INVG currently pays the higher dividend yield.
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