IROC vs IVV
Invesco Rochester High Yield Municipal 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 | IROC | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.03% | |
| AUM | $154M | $907.0B | |
| Dividend Yield | 5.20% | 1.10% | |
| Holdings | 137 | 508 | |
| YTD Return | -0.43% | +13.22% | |
| 1Y Return | +3.43% | +21.62% | |
| 3Y Return (annualized) | +4.04% | +22.17% | |
| 5Y Return (annualized) | - | +13.42% | |
| Volatility (annualized) | 4.6% | 15.1% | |
| Max Drawdown | -4.8% | -56.5% | |
| Fund Family | Invesco (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 9, 2022 | May 15, 2000 |
IROC vs IVV Performance
Invesco Rochester High Yield Municipal ETF (IROC) is a ETF from Invesco (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year IROC returned +3.43% while IVV returned +21.62%. Year to date, IROC is down 0.43% versus a gain of 13.22% for IVV.
Over three years, IROC compounded at +4.04% per year against +22.17% for IVV. Across the full 4-year window we track, IVV has the edge at +7.02% annualized vs +3.62%. 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 4.6% for IROC. 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 -4.8% for IROC 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IROC charges 0.39% per year while IVV charges 0.03%. On a $10,000 position that is $39 vs $3 annually, a gap of $36 per year that compounds over a long holding period. On income, IROC currently yields 5.20% against 1.10% for IVV.
Holdings Overlap
IROC and IVV share 0 holdings out of 552 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, IROC or IVV?
IROC has an expense ratio of 0.39% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, IROC or IVV?
Over the past year IROC returned +3.43% vs +21.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (4 years), IROC annualized +3.62% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, IROC or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 4.6% for IROC. Worst drawdown: IROC -4.8% vs IVV -56.5%.
Should I hold both IROC and IVV?
IROC and IVV have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IROC and IVV?
IROC and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, IROC or IVV?
IROC yields 5.20% while IVV yields 1.10%, so IROC currently pays the higher dividend yield.
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