IVV vs PCY
iShares Core S&P 500 ETF vs Invesco Emerging Markets Sovereign Debt ETF
Which is better, IVV or PCY?
Large Cap Blend against Emerging Markets Bond.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y 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 | PCY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.50% |
| AUM | $876.4B | $1.3B |
| Dividend Yield | 1.06% | 6.01% |
| Holdings | 508 | 105 |
| YTD Return | +13.85%Best | -2.57% |
| 1Y Return | +18.57%Best | +0.01% |
| 3Y Return (annualized) | +23.50%Best | +9.99% |
| 5Y Return (annualized) | +13.34%Best | +0.68% |
| Volatility (annualized) | 15.7% | 13.6%Best |
| Max Drawdown | -56.5% | -49.4%Best |
| $10,000 over 5 years | $18,703Best | $10,345 |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Emerging Markets Bond |
| Inception | May 15, 2000 | Oct 11, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 11, 2007 to Sep 25, 2026 (19 years).
IVV vs PCY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs PCY Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco Emerging Markets Sovereign Debt ETF (PCY) is an ETF from Invesco (US). Over the past year IVV returned +18.57% while PCY returned +0.01%. Year to date, IVV is up 13.85% versus a loss of 2.57% for PCY.
Over three years, IVV compounded at +23.50% per year against +9.99% for PCY; over five years the annualized figures are +13.34% and +0.68% respectively. Across the full 19-year window we track, IVV has the edge at +9.29% annualized vs +0.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 13.6% for PCY. 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 -49.4% for PCY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while PCY charges 0.50%. On a $10,000 position that is $3 vs $50 annually, a gap of $47 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 6.01% for PCY.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 78 in PCY, totalling 99.3% and 74.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 78 in PCY, against full books of 508 and 105.
You are not choosing between two funds in isolation.
Whichever of IVV and PCY 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 PCY?
IVV has an expense ratio of 0.03% while PCY charges 0.50%. IVV is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, IVV or PCY?
Over the past year IVV returned +18.57% vs +0.01% for PCY, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +9.29% vs +0.57% for PCY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PCY?
IVV has been the more volatile fund at 15.7% annualized versus 13.6% for PCY. Worst drawdown: IVV -56.5% vs PCY -49.4%.
Should I hold both IVV and PCY?
IVV and PCY have a monthly-return correlation of 0.56, 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 PCY?
IVV yields 1.06% while PCY yields 6.01%, so PCY currently pays the higher dividend yield.
Is PCY better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.