IVV vs PCN
iShares Core S&P 500 ETF vs PIMCO Corporate & Income Strategy 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 | PCN | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.88% | |
| AUM | $865.2B | $864M | |
| Dividend Yield | 1.09% | 11.74% | |
| Holdings | 508 | 526 | |
| YTD Return | +13.80% | -0.12% | |
| 1Y Return | +23.01% | +4.07% | |
| 3Y Return (annualized) | +21.77% | +5.20% | |
| 5Y Return (annualized) | +13.39% | +0.42% | |
| Volatility (annualized) | 15.1% | 21.7% | |
| Max Drawdown | -56.5% | -66.7% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Dec 21, 2001 |
IVV vs PCN Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO Corporate & Income Strategy Fund (PCN) is a ETF from PIMCO (US). Over the past year IVV returned +23.01% while PCN returned +4.07%. Year to date, IVV is up 13.80% versus a loss of 0.12% for PCN.
Over three years, IVV compounded at +21.77% per year against +5.20% for PCN; over five years the annualized figures are +13.39% and +0.42% respectively. Across the full 25-year window we track, IVV has the edge at +7.04% annualized vs +1.29%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PCN has been the more volatile fund, with annualized monthly volatility of 21.7% 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 -66.7% for PCN. 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PCN charges 0.88%. On a $10,000 position that is $3 vs $88 annually, a gap of $85 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 11.74% for PCN.
Holdings Overlap
IVV and PCN share 1 holdings out of 527 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PCN | Difference |
|---|---|---|---|
| VICI | 0.04% | 0.30% | 0.26% |
Frequently Asked Questions
Which is cheaper, IVV or PCN?
IVV has an expense ratio of 0.03% while PCN charges 0.88%. IVV is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, IVV or PCN?
Over the past year IVV returned +23.01% vs +4.07% for PCN, so IVV leads on 1-year performance. Over the longest common window we track (25 years), IVV annualized +7.04% vs +1.29% for PCN. Past performance does not guarantee future results.
Which is riskier, IVV or PCN?
PCN has been the more volatile fund at 21.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PCN -66.7%.
Should I hold both IVV and PCN?
IVV and PCN have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PCN?
IVV and PCN share 1 common holdings with a 0.0% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, IVV or PCN?
IVV yields 1.09% while PCN yields 11.74%, so PCN currently pays the higher dividend yield.
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