IVV vs PEMX
iShares Core S&P 500 ETF vs Putnam Emerging Markets ex-China ETF
Quick Verdict
IVV has a lower expense ratio. PEMX delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PEMX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.69% | |
| AUM | $907.0B | $32M | |
| Dividend Yield | 1.10% | 5.41% | |
| Holdings | 508 | 57 | |
| YTD Return | +12.71% | +30.27% | |
| 1Y Return | +21.89% | +52.74% | |
| 3Y Return (annualized) | +22.08% | +32.22% | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | 18.6% | |
| Max Drawdown | -56.5% | -19.0% | |
| Fund Family | iShares by BlackRock (US) | Putnam Investments | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | May 17, 2023 |
IVV vs PEMX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Putnam Emerging Markets ex-China ETF (PEMX) is a ETF from Putnam Investments. Over the past year IVV returned +21.89% while PEMX returned +52.74%. Year to date, IVV is up 12.71% versus a gain of 30.27% for PEMX.
Over three years, IVV compounded at +22.08% per year against +32.22% for PEMX. Across the full 3-year window we track, PEMX has the edge at +31.01% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PEMX has been the more volatile fund, with annualized monthly volatility of 18.6% 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 -19.0% for PEMX. 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 PEMX charges 0.69%. On a $10,000 position that is $3 vs $69 annually, a gap of $66 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 5.41% for PEMX.
Holdings Overlap
IVV and PEMX share 0 holdings out of 553 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 PEMX?
IVV has an expense ratio of 0.03% while PEMX charges 0.69%. IVV is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, IVV or PEMX?
Over the past year IVV returned +21.89% vs +52.74% for PEMX, so PEMX leads on 1-year performance. Over the longest common window we track (3 years), IVV annualized +7.00% vs +31.01% for PEMX. Past performance does not guarantee future results.
Which is riskier, IVV or PEMX?
PEMX has been the more volatile fund at 18.6% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PEMX -19.0%.
Should I hold both IVV and PEMX?
IVV and PEMX 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 PEMX?
IVV and PEMX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, IVV or PEMX?
IVV yields 1.10% while PEMX yields 5.41%, so PEMX currently pays the higher dividend yield.
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