IVOL vs IVV
Quadratic Interest Rate Volatility and Inflation Hedge 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 | IVOL | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | |
| AUM | $288M | $907.0B | |
| Dividend Yield | 4.19% | 1.10% | |
| Holdings | 12 | 508 | |
| YTD Return | -6.22% | +12.28% | |
| 1Y Return | -7.28% | +20.94% | |
| 3Y Return (annualized) | -2.19% | +21.81% | |
| 5Y Return (annualized) | -5.41% | +13.05% | |
| Volatility (annualized) | 8.8% | 15.1% | |
| Max Drawdown | -31.2% | -56.5% | |
| Fund Family | Quadratic Capital Management LLC | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | May 13, 2019 | May 15, 2000 |
IVOL vs IVV Performance
Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL) is a ETF from Quadratic Capital Management LLC and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year IVOL returned -7.28% while IVV returned +20.94%. Year to date, IVOL is down 6.22% versus a gain of 12.28% for IVV.
Over three years, IVOL compounded at -2.19% per year against +21.81% for IVV; over five years the annualized figures are -5.41% and +13.05% respectively. Across the full 7-year window we track, IVV has the edge at +6.98% annualized vs -2.13%. 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 8.8% for IVOL. 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 -31.2% for IVOL 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 0.07. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVOL charges 0.98% per year while IVV charges 0.03%. On a $10,000 position that is $98 vs $3 annually, a gap of $95 per year that compounds over a long holding period. On income, IVOL currently yields 4.19% against 1.10% for IVV.
Holdings Overlap
IVOL and IVV share 0 holdings out of 506 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, IVOL or IVV?
IVOL has an expense ratio of 0.98% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, IVOL or IVV?
Over the past year IVOL returned -7.28% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (7 years), IVOL annualized -2.13% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, IVOL or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 8.8% for IVOL. Worst drawdown: IVOL -31.2% vs IVV -56.5%.
Should I hold both IVOL and IVV?
IVOL and IVV have a monthly-return correlation of 0.07, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVOL and IVV?
IVOL and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVOL or IVV?
IVOL yields 4.19% while IVV yields 1.10%, so IVOL currently pays the higher dividend yield.
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