IVV vs KBWB
iShares Core S&P 500 ETF vs Invesco KBW Bank ETF
Which is better, IVV or KBWB?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over 5Y and the full window, KBWB over 1Y and 3Y. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 60.5%.
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 | IVV | KBWB |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.35% |
| AUM | $876.4B | $6.7B |
| Dividend Yield | 1.06% | 1.95% |
| Holdings | 508 | 30 |
| YTD Return | +11.57% | +13.56%Best |
| 1Y Return | +17.57% | +27.41%Best |
| 3Y Return (annualized) | +20.71% | +35.99%Best |
| 5Y Return (annualized) | +12.80%Best | +11.45% |
| Volatility (annualized) | 14.0%Best | 23.9% |
| Max Drawdown | -33.9%Best | -52.0% |
| $10,000 over 5 years | $18,262Best | $17,195 |
| Top 10 Weight | 37.9%Best | 60.5% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | Nov 1, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Nov 1, 2011 to Sep 10, 2026 (14.9 years).
IVV vs KBWB 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 14.9 years both funds cover.
IVV vs KBWB Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco KBW Bank ETF (KBWB) is an ETF from Invesco (US). Over the past year IVV returned +17.57% while KBWB returned +27.41%. Year to date, IVV is up 11.57% versus a gain of 13.56% for KBWB.
Over three years, IVV compounded at +20.71% per year against +35.99% for KBWB; over five years the annualized figures are +12.80% and +11.45% respectively. Across the full 15-year window we track, IVV has the edge at +13.67% annualized vs +12.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KBWB has been the more volatile fund, with annualized monthly volatility of 23.9% compared with 14.0% 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 -33.9% for IVV and -52.0% for KBWB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while KBWB charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.95% for KBWB.
Holdings Overlap
4.9% of IVV's money is in holdings KBWB also owns. 92.7% of KBWB's money is in holdings IVV also owns.
Most of KBWB is already inside IVV. Owning both mostly buys the same companies twice.
19 positions in common, counted across the 505 positions we hold weights for in IVV and 25 in KBWB, against full books of 508 and 30.
What only one of them owns
Our book lists 6 positions for KBWB that do not appear in our book for IVV (7.3% of the fund), and 476 for IVV that do not appear in KBWB (94.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IVV | Weight in KBWB | Difference |
|---|---|---|---|
| JPMJpmorgan Chase & Co. | 1.45% | 8.44% | 6.99% |
| BACBank Of America Corp. | 0.62% | 8.62% | 8.00% |
| WFCWells Fargo & Co. | 0.41% | 8.06% | 7.65% |
| MSMorgan Stanley | 0.39% | 7.42% | 7.03% |
| GSGoldman Sachs Group Inc. | 0.47% | 7.26% | 6.79% |
| COFCapital One Financial Corp. | 0.21% | 4.17% | 3.96% |
| USBUS Bancorp | 0.15% | 4.14% | 3.99% |
| STTState Street Corp. | 0.08% | 4.21% | 4.13% |
| PNCPnc Financial Services Group Inc. | 0.15% | 4.10% | 3.95% |
| CCitigroup Inc. | 0.35% | 3.86% | 3.51% |
92.7% of KBWB is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or KBWB?
IVV has an expense ratio of 0.03% while KBWB charges 0.35%. IVV is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, IVV or KBWB?
Over the past year IVV returned +17.57% vs +27.41% for KBWB, so KBWB leads on 1-year performance. Over the longest common window we track (15 years), IVV annualized +13.67% vs +12.31% for KBWB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or KBWB?
KBWB has been the more volatile fund at 23.9% annualized versus 14.0% for IVV. Worst drawdown: IVV -33.9% vs KBWB -52.0%.
Should I hold both IVV and KBWB?
IVV and KBWB have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and KBWB?
92.7% of KBWB's money is in holdings IVV also owns. 92.7% of KBWB's is in holdings IVV also owns. They hold 19 positions in common, counted across the 505 positions we hold weights for in IVV and 25 in KBWB.
Which pays a higher dividend, IVV or KBWB?
IVV yields 1.06% while KBWB yields 1.95%, so KBWB currently pays the higher dividend yield.
Is KBWB better than IVV?
IVV has a lower expense ratio. IVV led over 5Y and the full window, KBWB over 1Y and 3Y. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 60.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.