IVV vs PEPS
iShares Core S&P 500 ETF vs Parametric Equity Plus ETF
Quick Verdict
IVV has a lower expense ratio. PEPS delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PEPS | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.10% | |
| AUM | $907.0B | $30M | |
| Dividend Yield | 1.10% | 0.93% | |
| Holdings | 508 | 193 | |
| YTD Return | +12.96% | +11.81% | |
| 1Y Return | +20.70% | +21.46% | |
| 3Y Return (annualized) | +22.10% | - | |
| 5Y Return (annualized) | +13.40% | - | |
| Volatility (annualized) | 15.1% | 13.3% | |
| Max Drawdown | -56.5% | -21.0% | |
| Fund Family | iShares by BlackRock (US) | Parametric | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Nov 7, 2024 |
IVV vs PEPS Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Parametric Equity Plus ETF (PEPS) is a ETF from Parametric. Over the past year IVV returned +20.70% while PEPS returned +21.46%. Year to date, IVV is up 12.96% versus a gain of 11.81% for PEPS.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.3% for PEPS. 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 -21.0% for PEPS. 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while PEPS charges 0.10%. On a $10,000 position that is $3 vs $10 annually, a gap of $7 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.93% for PEPS.
Holdings Overlap
IVV and PEPS share 121 holdings out of 559 unique holdings combined, representing a 63.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, IVV or PEPS?
IVV has an expense ratio of 0.03% while PEPS charges 0.10%. IVV is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, IVV or PEPS?
Over the past year IVV returned +20.70% vs +21.46% for PEPS, so PEPS leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +7.01% vs +17.56% for PEPS. Past performance does not guarantee future results.
Which is riskier, IVV or PEPS?
IVV has been the more volatile fund at 15.1% annualized versus 13.3% for PEPS. Worst drawdown: IVV -56.5% vs PEPS -21.0%.
Should I hold both IVV and PEPS?
IVV and PEPS have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and PEPS?
IVV and PEPS share 121 common holdings with a 63.1% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, IVV or PEPS?
IVV yields 1.10% while PEPS yields 0.93%, so IVV currently pays the higher dividend yield.
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