IVV vs NZUS
iShares Core S&P 500 ETF vs State Street SPDR MSCI USA Climate Paris Aligned ETF
Which is better, IVV or NZUS?
Large Cap Blend against Large Cap Growth.
IVV has a lower expense ratio. IVV led over the full window, NZUS over 1Y. The two have moved almost in lockstep, correlation 0.98. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 46.8%.
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 | NZUS |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.10% |
| AUM | $876.4B | $3M |
| Dividend Yield | 1.06% | 0.88% |
| Holdings | 508 | 146 |
| Volatility (annualized) | 15.6%Best | 16.8% |
| Max Drawdown | -18.8%Best | -21.0% |
| $10,000 over 4.1 years | $18,488Best | $17,372 |
| Top 10 Weight | 37.9%Best | 46.8% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | May 15, 2000 | Apr 21, 2022 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 121 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Sep 10, 2026 and NZUS through May 12, 2026.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Apr 22, 2022 to May 12, 2026 (4.1 years).
Risk: Volatility and Drawdowns
NZUS has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 15.6% 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 -21.0% for NZUS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while NZUS charges 0.10%. On a $10,000 position that is $3 vs $10 annually, a gap of $7 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.88% for NZUS.
Holdings Overlap
58.7% of IVV's money is in holdings NZUS also owns. 97.0% of NZUS's money is in holdings IVV also owns.
Most of NZUS is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 187 days apart, IVV as of Aug 5, 2026 and NZUS as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
125 positions in common, counted across the 505 positions we hold weights for in IVV and 150 in NZUS, against full books of 508 and 146.
What only one of them owns
Our book lists 21 positions for NZUS that do not appear in our book for IVV (2.1% of the fund), and 370 for IVV that do not appear in NZUS (40.7%).
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 NZUS | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | 9.68% | 1.70% |
| AAPLApple, Inc | 6.86% | 7.37% | 0.51% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 6.81% | 1.37% |
| AMZNAmazon.Com Inc | 4.01% | 3.68% | 0.33% |
| GOOGAlphabet Inc | 2.56% | 4.09% | 1.53% |
| AVGOBroadcom Inc | 2.98% | 2.54% | 0.44% |
| TSLATesla Inc | 1.36% | 4.05% | 2.69% |
| GOOGLAlphabet A Usd 0.001 | 3.19% | 2.09% | 1.10% |
| LLYEli Lilly & Co. | 1.39% | 3.43% | 2.04% |
| METAMeta Platforms, Inc. | 1.94% | 2.82% | 0.88% |
97.0% of NZUS 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 NZUS?
IVV has an expense ratio of 0.03% while NZUS charges 0.10%. IVV is the cheaper option, by $7 a year on a $10,000 investment.
Which is riskier, IVV or NZUS?
NZUS has been the more volatile fund at 16.8% annualized versus 15.6% for IVV. Worst drawdown: IVV -18.8% vs NZUS -21.0%.
Should I hold both IVV and NZUS?
IVV and NZUS have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and NZUS?
97.0% of NZUS's money is in holdings IVV also owns. 97.0% of NZUS's is in holdings IVV also owns. They hold 125 positions in common, counted across the 505 positions we hold weights for in IVV and 150 in NZUS.
Which pays a higher dividend, IVV or NZUS?
IVV yields 1.06% while NZUS yields 0.88%, so IVV currently pays the higher dividend yield.
Is NZUS better than IVV?
IVV has a lower expense ratio. IVV led over the full window, NZUS over 1Y. The two have moved almost in lockstep, correlation 0.98. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 46.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.