IVV vs PDO
iShares Core S&P 500 ETF vs PIMCO Dynamic Income Opportunities Fund
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. PDO offers more diversification with 635 holdings.
Side-by-Side Comparison
| Metric | IVV | PDO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 5.22% | |
| AUM | $907.0B | $1.9B | |
| Dividend Yield | 1.10% | 12.02% | |
| Holdings | 508 | 635 | |
| YTD Return | +12.96% | -0.52% | |
| 1Y Return | +20.70% | +5.07% | |
| 3Y Return (annualized) | +22.10% | +12.98% | |
| 5Y Return (annualized) | +13.40% | +2.53% | |
| Volatility (annualized) | 15.1% | 17.3% | |
| Max Drawdown | -56.5% | -36.8% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jan 29, 2021 |
IVV vs PDO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO Dynamic Income Opportunities Fund (PDO) is a ETF from PIMCO (US). Over the past year IVV returned +20.70% while PDO returned +5.07%. Year to date, IVV is up 12.96% versus a loss of 0.52% for PDO.
Over three years, IVV compounded at +22.10% per year against +12.98% for PDO; over five years the annualized figures are +13.40% and +2.53% respectively. Across the full 6-year window we track, IVV has the edge at +7.01% annualized vs +3.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDO has been the more volatile fund, with annualized monthly volatility of 17.3% 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 -36.8% for PDO. 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PDO charges 5.22%. On a $10,000 position that is $3 vs $522 annually, a gap of $519 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 12.02% for PDO.
Holdings Overlap
IVV and PDO share 0 holdings out of 522 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PDO?
IVV has an expense ratio of 0.03% while PDO charges 5.22%. IVV is the cheaper option. On a $10,000 investment, that is $519 per year of difference.
Which performed better, IVV or PDO?
Over the past year IVV returned +20.70% vs +5.07% for PDO, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +7.01% vs +3.84% for PDO. Past performance does not guarantee future results.
Which is riskier, IVV or PDO?
PDO has been the more volatile fund at 17.3% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PDO -36.8%.
Should I hold both IVV and PDO?
IVV and PDO have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PDO?
IVV and PDO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 522 unique securities.
Which pays a higher dividend, IVV or PDO?
IVV yields 1.10% while PDO yields 12.02%, so PDO currently pays the higher dividend yield.
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