IVV vs PCF
iShares Core S&P 500 ETF vs Putnam High Income Securities Fund
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | PCF | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 4.77% | |
| AUM | $865.2B | $117M | |
| Dividend Yield | 1.09% | 10.91% | |
| Holdings | 508 | 135 | |
| YTD Return | +13.80% | -5.76% | |
| 1Y Return | +23.01% | -5.37% | |
| 3Y Return (annualized) | +21.77% | +4.24% | |
| 5Y Return (annualized) | +13.39% | -0.88% | |
| Volatility (annualized) | 15.1% | 15.4% | |
| Max Drawdown | -56.5% | -67.3% | |
| Fund Family | iShares by BlackRock (US) | Putnam Investments | |
| Category | Equity | Allocation/Balanced | |
| Inception | May 15, 2000 | Jul 9, 1987 |
IVV vs PCF Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Putnam High Income Securities Fund (PCF) is a ETF from Putnam Investments. Over the past year IVV returned +23.01% while PCF returned -5.37%. Year to date, IVV is up 13.80% versus a loss of 5.76% for PCF.
Over three years, IVV compounded at +21.77% per year against +4.24% for PCF; over five years the annualized figures are +13.39% and -0.88% respectively. Across the full 26-year window we track, IVV has the edge at +7.04% annualized vs -0.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCF has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.1% 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 -67.3% for PCF. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PCF charges 4.77%. On a $10,000 position that is $3 vs $477 annually, a gap of $474 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 10.91% for PCF.
Holdings Overlap
IVV and PCF share 0 holdings out of 604 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PCF?
IVV has an expense ratio of 0.03% while PCF charges 4.77%. IVV is the cheaper option. On a $10,000 investment, that is $474 per year of difference.
Which performed better, IVV or PCF?
Over the past year IVV returned +23.01% vs -5.37% for PCF, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.04% vs -0.01% for PCF. Past performance does not guarantee future results.
Which is riskier, IVV or PCF?
PCF has been the more volatile fund at 15.4% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PCF -67.3%.
Should I hold both IVV and PCF?
IVV and PCF have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PCF?
IVV and PCF share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, IVV or PCF?
IVV yields 1.09% while PCF yields 10.91%, so PCF currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.