IVV vs PAPR
iShares Core S&P 500 ETF vs Innovator US Equity Power Buffer ETF - April
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 | IVV | PAPR | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.79% | |
| AUM | $907.0B | $962M | |
| Dividend Yield | 1.10% | 0.00% | |
| Holdings | 508 | 6 | |
| YTD Return | +12.71% | +9.50% | |
| 1Y Return | +21.89% | +13.26% | |
| 3Y Return (annualized) | +22.08% | +11.65% | |
| 5Y Return (annualized) | +12.96% | +8.34% | |
| Volatility (annualized) | 15.1% | 7.3% | |
| Max Drawdown | -56.5% | -15.3% | |
| Fund Family | iShares by BlackRock (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Mar 29, 2019 |
IVV vs PAPR Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Innovator US Equity Power Buffer ETF - April (PAPR) is a ETF from Innovator ETFs Trust. Over the past year IVV returned +21.89% while PAPR returned +13.26%. Year to date, IVV is up 12.71% versus a gain of 9.50% for PAPR.
Over three years, IVV compounded at +22.08% per year against +11.65% for PAPR; over five years the annualized figures are +12.96% and +8.34% respectively. Across the full 7-year window we track, PAPR has the edge at +7.84% annualized vs +7.00%. 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 7.3% for PAPR. 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 -15.3% for PAPR. 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 0.92. 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 PAPR charges 0.79%. On a $10,000 position that is $3 vs $79 annually, a gap of $76 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.00% for PAPR.
Frequently Asked Questions
Which is cheaper, IVV or PAPR?
IVV has an expense ratio of 0.03% while PAPR charges 0.79%. IVV is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, IVV or PAPR?
Over the past year IVV returned +21.89% vs +13.26% for PAPR, so IVV leads on 1-year performance. Over the longest common window we track (7 years), IVV annualized +7.00% vs +7.84% for PAPR. Past performance does not guarantee future results.
Which is riskier, IVV or PAPR?
IVV has been the more volatile fund at 15.1% annualized versus 7.3% for PAPR. Worst drawdown: IVV -56.5% vs PAPR -15.3%.
Should I hold both IVV and PAPR?
IVV and PAPR have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, IVV or PAPR?
IVV yields 1.10% while PAPR yields 0.00%, so IVV currently pays the higher dividend yield.
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