IVV vs PDX
iShares Core S&P 500 ETF vs PIMCO Dynamic Income Strategy Fund
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PDX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 3.29% | |
| AUM | $907.0B | $1.0B | |
| Dividend Yield | 1.10% | 19.41% | |
| Holdings | 508 | 442 | |
| YTD Return | +13.22% | +21.22% | |
| 1Y Return | +21.62% | +12.94% | |
| 3Y Return (annualized) | +22.17% | +22.33% | |
| 5Y Return (annualized) | +13.42% | +25.76% | |
| Volatility (annualized) | 15.1% | 39.5% | |
| Max Drawdown | -56.5% | -83.0% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Feb 1, 2019 |
IVV vs PDX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO Dynamic Income Strategy Fund (PDX) is a ETF from PIMCO (US). Over the past year IVV returned +21.62% while PDX returned +12.94%. Year to date, IVV is up 13.22% versus a gain of 21.22% for PDX.
Over three years, IVV compounded at +22.17% per year against +22.33% for PDX; over five years the annualized figures are +13.42% and +25.76% respectively. Across the full 8-year window we track, PDX has the edge at +8.01% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDX has been the more volatile fund, with annualized monthly volatility of 39.5% 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 -83.0% for PDX. 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PDX charges 3.29%. On a $10,000 position that is $3 vs $329 annually, a gap of $326 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 19.41% for PDX.
Holdings Overlap
IVV and PDX share 0 holdings out of 512 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 PDX?
IVV has an expense ratio of 0.03% while PDX charges 3.29%. IVV is the cheaper option. On a $10,000 investment, that is $326 per year of difference.
Which performed better, IVV or PDX?
Over the past year IVV returned +21.62% vs +12.94% for PDX, so IVV leads on 1-year performance. Over the longest common window we track (8 years), IVV annualized +7.02% vs +8.01% for PDX. Past performance does not guarantee future results.
Which is riskier, IVV or PDX?
PDX has been the more volatile fund at 39.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PDX -83.0%.
Should I hold both IVV and PDX?
IVV and PDX have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PDX?
IVV and PDX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, IVV or PDX?
IVV yields 1.10% while PDX yields 19.41%, so PDX currently pays the higher dividend yield.
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