IVV vs PCEM
iShares Core S&P 500 ETF vs Polen Capital Emerging Markets ex-China Growth ETF
Which is better, IVV or PCEM?
Large Cap Blend against Large Cap Growth.
IVV has a lower expense ratio. IVV led over the full window, PCEM over 1Y. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 45.0%.
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 | PCEM |
|---|---|---|
| Expense Ratio | 0.03%Best | 1.00% |
| AUM | $876.4B | $3M |
| Dividend Yield | 1.06% | 0.34% |
| Holdings | 508 | 35 |
| Volatility (annualized) | 10.8%Best | 15.5% |
| Max Drawdown | -18.8%Best | -19.9% |
| $10,000 over 1.5 years | $12,284Best | $11,909 |
| Top 10 Weight | 37.8%Best | 45.0% |
| Fund Family | iShares by BlackRock (US) | Polen Capital |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | May 15, 2000 | Sep 10, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 190 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 22, 2026 and PCEM through Mar 16, 2026.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Sep 11, 2024 to Mar 16, 2026 (1.5 years).
Risk: Volatility and Drawdowns
PCEM has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 10.8% 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 -19.9% for PCEM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while PCEM charges 1.00%. On a $10,000 position that is $3 vs $100 annually, a gap of $97 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.34% for PCEM.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 35 in PCEM, totalling 99.3% and 99.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 276 days apart, IVV as of Aug 31, 2026 and PCEM as of Nov 28, 2025, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 35 in PCEM, against full books of 508 and 35.
What only one of them owns
Our book lists 1 positions for PCEM that do not appear in our book for IVV (3.6% of the fund), and 482 for IVV that do not appear in PCEM (98.6%).
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.
You are not choosing between two funds in isolation.
Whichever of IVV and PCEM 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 PCEM?
IVV has an expense ratio of 0.03% while PCEM charges 1.00%. IVV is the cheaper option, by $97 a year on a $10,000 investment.
Which is riskier, IVV or PCEM?
PCEM has been the more volatile fund at 15.5% annualized versus 10.8% for IVV. Worst drawdown: IVV -18.8% vs PCEM -19.9%.
Should I hold both IVV and PCEM?
IVV and PCEM have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or PCEM?
IVV yields 1.06% while PCEM yields 0.34%, so IVV currently pays the higher dividend yield.
Is PCEM better than IVV?
IVV has a lower expense ratio. IVV led over the full window, PCEM over 1Y. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 45.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.