IVV vs PCMM
iShares Core S&P 500 ETF vs BondBloxx Private Credit CLO ETF
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 | PCMM | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.68% | |
| AUM | $865.2B | $195M | |
| Dividend Yield | 1.09% | 6.68% | |
| Holdings | 508 | 81 | |
| YTD Return | +13.72% | +2.13% | |
| 1Y Return | +21.64% | +3.61% | |
| 3Y Return (annualized) | +21.55% | - | |
| 5Y Return (annualized) | +13.27% | - | |
| Volatility (annualized) | 15.1% | 2.6% | |
| Max Drawdown | -56.5% | -4.0% | |
| Fund Family | iShares by BlackRock (US) | BondBloxx | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Dec 2, 2024 |
IVV vs PCMM Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and BondBloxx Private Credit CLO ETF (PCMM) is a ETF from BondBloxx. Over the past year IVV returned +21.64% while PCMM returned +3.61%. Year to date, IVV is up 13.72% versus a gain of 2.13% for PCMM.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 2.6% for PCMM. 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 -4.0% for PCMM. 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 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PCMM charges 0.68%. On a $10,000 position that is $3 vs $68 annually, a gap of $65 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 6.68% for PCMM.
Frequently Asked Questions
Which is cheaper, IVV or PCMM?
IVV has an expense ratio of 0.03% while PCMM charges 0.68%. IVV is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, IVV or PCMM?
Over the past year IVV returned +21.64% vs +3.61% for PCMM, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +7.04% vs +6.69% for PCMM. Past performance does not guarantee future results.
Which is riskier, IVV or PCMM?
IVV has been the more volatile fund at 15.1% annualized versus 2.6% for PCMM. Worst drawdown: IVV -56.5% vs PCMM -4.0%.
Should I hold both IVV and PCMM?
IVV and PCMM have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IVV or PCMM?
IVV yields 1.09% while PCMM yields 6.68%, so PCMM currently pays the higher dividend yield.
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