IVV vs PDN
IVV vs PDN
iShares Core S&P 500 ETF vs Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. PDN offers more diversification with 1557 holdings.
Side-by-Side Comparison
| Metric | IVV | PDN | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.47% | |
| AUM | $865.2B | $350M | |
| Dividend Yield | 1.09% | 3.29% | |
| Holdings | 508 | 1,599 | |
| YTD Return | +13.80% | +13.09% | |
| 1Y Return | +23.70% | +22.51% | |
| 3Y Return (annualized) | +21.49% | +18.06% | |
| 5Y Return (annualized) | +13.43% | +7.36% | |
| Volatility (annualized) | 15.1% | 18.2% | |
| Max Drawdown | -56.5% | -60.1% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Sep 27, 2007 |
IVV vs PDN Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) is a ETF from Invesco (US). Over the past year IVV returned +23.70% while PDN returned +22.51%. Year to date, IVV is up 13.80% versus a gain of 13.09% for PDN.
Over three years, IVV compounded at +21.49% per year against +18.06% for PDN; over five years the annualized figures are +13.43% and +7.36% respectively. Across the full 19-year window we track, IVV has the edge at +7.05% annualized vs +4.19%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDN has been the more volatile fund, with annualized monthly volatility of 18.2% 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 -60.1% for PDN. 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PDN charges 0.47%. On a $10,000 position that is $3 vs $47 annually, a gap of $44 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 3.29% for PDN.
Holdings Overlap
IVV and PDN share 3 holdings out of 2059 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PDN?
IVV has an expense ratio of 0.03% while PDN charges 0.47%. IVV is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, IVV or PDN?
Over the past year IVV returned +23.70% vs +22.51% for PDN, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +7.05% vs +4.19% for PDN. Past performance does not guarantee future results.
Which is riskier, IVV or PDN?
PDN has been the more volatile fund at 18.2% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PDN -60.1%.
Should I hold both IVV and PDN?
IVV and PDN have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PDN?
IVV and PDN share 3 common holdings with a 0.2% weight overlap. Combined, they hold 2059 unique securities.
Which pays a higher dividend, IVV or PDN?
IVV yields 1.09% while PDN yields 3.29%, so PDN currently pays the higher dividend yield.
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