IVV vs PCRB
iShares Core S&P 500 ETF vs Putnam ESG Core Bond ETF
Which is better, IVV or PCRB?
Large Cap Blend against Investment Grade Bond.
IVV has a lower expense ratio. IVV led over 1Y and the full window.
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 | PCRB |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.36% |
| AUM | $876.4B | $7M |
| Dividend Yield | 1.06% | 9.74% |
| Holdings | 508 | 568 |
| Volatility (annualized) | 12.9% | 5.6%Best |
| Max Drawdown | -18.8% | -7.2%Best |
| $10,000 over 3.4 years | $19,542Best | $11,141 |
| Fund Family | iShares by BlackRock (US) | Franklin Templeton Investments (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Investment Grade Bond |
| Inception | May 15, 2000 | Jan 19, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 94 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 11, 2026 and PCRB through Jun 9, 2026.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: Jan 20, 2023 to Jun 9, 2026 (3.4 years).
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 5.6% for PCRB. 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 -7.2% for PCRB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.51. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while PCRB charges 0.36%. On a $10,000 position that is $3 vs $36 annually, a gap of $33 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 9.74% for PCRB.
Holdings Overlap
At least 0.5% of IVV's money is in holdings PCRB also owns.
Stated as a floor: for PCRB, our book for it covers 82.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 187 days apart, IVV as of Aug 5, 2026 and PCRB as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 505 positions we hold weights for in IVV and 381 in PCRB, against full books of 508 and 568.
You are not choosing between two funds in isolation.
Whichever of IVV and PCRB 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 PCRB?
IVV has an expense ratio of 0.03% while PCRB charges 0.36%. IVV is the cheaper option, by $33 a year on a $10,000 investment.
Which is riskier, IVV or PCRB?
IVV has been the more volatile fund at 12.9% annualized versus 5.6% for PCRB. Worst drawdown: IVV -18.8% vs PCRB -7.2%.
Should I hold both IVV and PCRB?
IVV and PCRB have a monthly-return correlation of 0.51, 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 PCRB?
IVV yields 1.06% while PCRB yields 9.74%, so PCRB currently pays the higher dividend yield.
Is PCRB better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.