IVV vs MSSM
iShares Core S&P 500 ETF vs Morgan Stanley Pathway Small-Mid Cap Equity ETF
Which is better, IVV or MSSM?
Large Cap Blend against Small Cap Blend.
IVV has a lower expense ratio. IVV led over the full window, MSSM over 1Y.
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 | MSSM |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.62% |
| AUM | $876.4B | $705M |
| Dividend Yield | 1.06% | 2.67% |
| Holdings | 508 | 2,229 |
| YTD Return | +12.27% | +13.20%Best |
| 1Y Return | +17.04% | +18.58%Best |
| 3Y Return (annualized) | +21.24% | - |
| 5Y Return (annualized) | +13.08% | - |
| Volatility (annualized) | 12.7%Best | 15.3% |
| Max Drawdown | -18.8%Best | -24.2% |
| $10,000 over 1.8 years | $12,939Best | $12,068 |
| Fund Family | iShares by BlackRock (US) | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | May 15, 2000 | Dec 9, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Sep 17, 2026 (1.8 years).
IVV vs MSSM 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 1.8 years both funds cover.
IVV vs MSSM Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) is an ETF from Morgan Stanley. Over the past year IVV returned +17.04% while MSSM returned +18.58%. Year to date, IVV is up 12.27% versus a gain of 13.20% for MSSM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSSM has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.7% 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 -18.8% for IVV and -24.2% for MSSM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while MSSM charges 0.62%. On a $10,000 position that is $3 vs $62 annually, a gap of $59 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.67% for MSSM.
Holdings Overlap
At least 2.1% of IVV's money is in holdings MSSM also owns.
Stated as a floor: for MSSM, our book for it covers 90.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
IVV and MSSM share little of their money.
The two holdings books were reported 123 days apart, IVV as of Aug 31, 2026 and MSSM as of Apr 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
61 positions in common, counted across the 490 positions we hold weights for in IVV and 1,406 in MSSM, against full books of 508 and 2,229.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MSSM | Difference |
|---|---|---|---|
| SNDKSandisk Corp/De | 0.35% | 1.24% | 0.89% |
| FIXComfort Systems USA Inc. | 0.08% | 1.38% | 1.30% |
| CIENCiena Corp | 0.08% | 0.95% | 0.87% |
| COHRCoherent Corp | 0.08% | 0.59% | 0.51% |
| FFIVF5 Networks Inc. | 0.03% | 0.44% | 0.41% |
| LITELumentum Holdings Inc | 0.11% | 0.35% | 0.24% |
| HBANHuntington Bancshares Inc./Oh | 0.05% | 0.32% | 0.27% |
| CHRWCH Robinson Worldwide | 0.03% | 0.34% | 0.31% |
| EGEverest Group, Ltd. | 0.02% | 0.31% | 0.29% |
| DVNDevon Energy Corporation | 0.08% | 0.24% | 0.16% |
You are not choosing between two funds in isolation.
Whichever of IVV and MSSM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or MSSM?
IVV has an expense ratio of 0.03% while MSSM charges 0.62%. IVV is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, IVV or MSSM?
Over the past year IVV returned +17.04% vs +18.58% for MSSM, so MSSM leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +15.39% vs +11.01% for MSSM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or MSSM?
MSSM has been the more volatile fund at 15.3% annualized versus 12.7% for IVV. Worst drawdown: IVV -18.8% vs MSSM -24.2%.
Should I hold both IVV and MSSM?
IVV and MSSM have a monthly-return correlation of 0.84, 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 MSSM?
At least 2.1% of IVV's money is in holdings MSSM also owns. Our book for MSSM is partial, so the real figure is this or higher. They hold 61 positions in common, counted across the 490 positions we hold weights for in IVV and 1,406 in MSSM.
Which pays a higher dividend, IVV or MSSM?
IVV yields 1.06% while MSSM yields 2.67%, so MSSM currently pays the higher dividend yield.
Is MSSM better than IVV?
IVV has a lower expense ratio. IVV led over the full window, MSSM over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.