IVV vs PCLO
iShares Core S&P 500 ETF vs Virtus Seix AAA Private Credit CLO ETF
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 | PCLO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.29% | |
| AUM | $907.0B | $20M | |
| Dividend Yield | 1.10% | 5.19% | |
| Holdings | 508 | 24 | |
| YTD Return | +12.28% | +2.45% | |
| 1Y Return | +20.94% | +4.65% | |
| 3Y Return (annualized) | +21.81% | - | |
| 5Y Return (annualized) | +13.05% | - | |
| Volatility (annualized) | 15.1% | 0.8% | |
| Max Drawdown | -56.5% | -0.8% | |
| Fund Family | iShares by BlackRock (US) | Virtus Investment Partners | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Nov 27, 2024 |
IVV vs PCLO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Virtus Seix AAA Private Credit CLO ETF (PCLO) is a ETF from Virtus Investment Partners. Over the past year IVV returned +20.94% while PCLO returned +4.65%. Year to date, IVV is up 12.28% versus a gain of 2.45% for PCLO.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 0.8% for PCLO. 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 -0.8% for PCLO. 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 PCLO charges 0.29%. On a $10,000 position that is $3 vs $29 annually, a gap of $26 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 5.19% for PCLO.
Frequently Asked Questions
Which is cheaper, IVV or PCLO?
IVV has an expense ratio of 0.03% while PCLO charges 0.29%. IVV is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, IVV or PCLO?
Over the past year IVV returned +20.94% vs +4.65% for PCLO, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +6.98% vs +4.94% for PCLO. Past performance does not guarantee future results.
Which is riskier, IVV or PCLO?
IVV has been the more volatile fund at 15.1% annualized versus 0.8% for PCLO. Worst drawdown: IVV -56.5% vs PCLO -0.8%.
Should I hold both IVV and PCLO?
IVV and PCLO have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IVV or PCLO?
IVV yields 1.10% while PCLO yields 5.19%, so PCLO currently pays the higher dividend yield.
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