IVV vs NCV
iShares Core S&P 500 ETF vs Virtus Convertible & Income Fund
Which is better, IVV or NCV?
Large Cap Blend against Convertibles.
IVV has a lower expense ratio. IVV led over 1Y, 5Y and the full window, NCV over 3Y.
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 | NCV |
|---|---|---|
| Expense Ratio | 0.03%Best | 1.45% |
| AUM | $876.4B | $398M |
| Dividend Yield | 1.06% | 8.82% |
| Holdings | 508 | 220 |
| YTD Return | +12.39% | +13.25%Best |
| 1Y Return | +16.61%Best | +16.49% |
| 3Y Return (annualized) | +21.38% | +21.74%Best |
| 5Y Return (annualized) | +13.51%Best | +3.58% |
| Volatility (annualized) | 14.5%Best | 26.1% |
| Max Drawdown | -56.5%Best | -84.8% |
| $10,000 over 5 years | $18,844Best | $11,923 |
| Fund Family | iShares by BlackRock (US) | Virtus Investment Partners |
| Category | Equity | Convertible |
| Style | Large Cap Blend | Convertibles |
| Inception | May 15, 2000 | Mar 31, 2003 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 27, 2003 to Sep 18, 2026 (23.5 years).
IVV vs NCV 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs NCV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Virtus Convertible & Income Fund (NCV) is an ETF from Virtus Investment Partners. Over the past year IVV returned +16.61% while NCV returned +16.49%. Year to date, IVV is up 12.39% versus a gain of 13.25% for NCV.
Over three years, IVV compounded at +21.38% per year against +21.74% for NCV; over five years the annualized figures are +13.51% and +3.58% respectively. Across the full 24-year window we track, IVV has the edge at +10.07% annualized vs -2.84%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NCV has been the more volatile fund, with annualized monthly volatility of 26.1% compared with 14.5% 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 -56.5% for IVV and -84.8% for NCV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while NCV charges 1.45%. On a $10,000 position that is $3 vs $145 annually, a gap of $142 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 8.82% for NCV.
Holdings Overlap
At least 4.1% of IVV's money is in holdings NCV also owns.
Stated as a floor: for NCV, our book for it covers 59.6% 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 NCV share little of their money.
The two holdings books were reported 185 days apart, IVV as of Aug 31, 2026 and NCV as of Feb 27, 2026, so some of the difference between them is the time between the two reports rather than the funds.
27 positions in common, counted across the 490 positions we hold weights for in IVV and 97 in NCV, against full books of 508 and 220.
Top Shared Holdings
| Stock | Weight in IVV | Weight in NCV | Difference |
|---|---|---|---|
| LITELumentum Holdings Inc | 0.11% | 3.80% | 3.69% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 0.23% | 2.64% | 2.41% |
| BABoeing Co. (The) | 0.25% | 1.75% | 1.50% |
| NEENextera Energy Inc | 0.26% | 1.60% | 1.34% |
| AMDAdvanced Micro Devices Inc | 1.16% | 0.40% | 0.76% |
| LYVLive Nation Entertainment Inc | 0.04% | 1.46% | 1.42% |
| ORCLOracle Corp - Common | 0.38% | 0.87% | 0.49% |
| PCGPg&E Corp. | 0.04% | 1.00% | 0.96% |
| STXSeagate Technology Holdings Plc | 0.28% | 0.73% | 0.45% |
| SOSouthern Co. | 0.15% | 0.81% | 0.66% |
You are not choosing between two funds in isolation.
Whichever of IVV and NCV 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 NCV?
IVV has an expense ratio of 0.03% while NCV charges 1.45%. IVV is the cheaper option, by $142 a year on a $10,000 investment.
Which performed better, IVV or NCV?
Over the past year IVV returned +16.61% vs +16.49% for NCV, so IVV leads on 1-year performance. Over the longest common window we track (24 years), IVV annualized +10.07% vs -2.84% for NCV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or NCV?
NCV has been the more volatile fund at 26.1% annualized versus 14.5% for IVV. Worst drawdown: IVV -56.5% vs NCV -84.8%.
Should I hold both IVV and NCV?
IVV and NCV have a monthly-return correlation of 0.72, 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 NCV?
At least 4.1% of IVV's money is in holdings NCV also owns. Our book for NCV is partial, so the real figure is this or higher. They hold 27 positions in common, counted across the 490 positions we hold weights for in IVV and 97 in NCV.
Which pays a higher dividend, IVV or NCV?
IVV yields 1.06% while NCV yields 8.82%, so NCV currently pays the higher dividend yield.
Is NCV better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 5Y and the full window, NCV over 3Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.