IVV vs PEY
iShares Core S&P 500 ETF vs Invesco High Yield Equity Dividend Achievers ETF
Which is better, IVV or PEY?
Large Cap Blend against Small Cap Value.
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window, PEY over 1Y. PEY is less concentrated, with 29.6% of the fund in its ten largest positions against 37.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | PEY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.54% |
| AUM | $876.4B | $1.2B |
| Dividend Yield | 1.06% | 4.19% |
| Holdings | 508 | 52 |
| YTD Return | +11.57% | +19.93%Best |
| 1Y Return | +17.57% | +18.52%Best |
| 3Y Return (annualized) | +20.71%Best | +11.38% |
| 5Y Return (annualized) | +12.80%Best | +8.44% |
| Volatility (annualized) | 14.9%Best | 17.6% |
| Max Drawdown | -56.5%Best | -75.6% |
| $10,000 over 5 years | $18,262Best | $14,995 |
| Top 10 Weight | 37.9% | 29.6%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Value |
| Inception | May 15, 2000 | Dec 9, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Dec 9, 2004 to Sep 10, 2026 (21.8 years).
IVV vs PEY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 21.8 years both funds cover.
IVV vs PEY Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco High Yield Equity Dividend Achievers ETF (PEY) is an ETF from Invesco (US). Over the past year IVV returned +17.57% while PEY returned +18.52%. Year to date, IVV is up 11.57% versus a gain of 19.93% for PEY.
Over three years, IVV compounded at +20.71% per year against +11.38% for PEY; over five years the annualized figures are +12.80% and +8.44% respectively. Across the full 22-year window we track, IVV has the edge at +9.27% annualized vs +3.43%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PEY has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 14.9% 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 -75.6% for PEY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PEY charges 0.54%. On a $10,000 position that is $3 vs $54 annually, a gap of $51 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 4.19% for PEY.
Holdings Overlap
2.4% of IVV's money is in holdings PEY also owns. 50.2% of PEY's money is in holdings IVV also owns.
The two portfolios partly overlap.
26 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in PEY, against full books of 508 and 52.
What only one of them owns
Measured across the 505 and 51 positions we hold weights for.
IVV holds 469 positions PEY does not, 96.9% of the fund.
Largest: NVDA 7.98%, AAPL 6.86%, MSFT 5.44%, AMZN 4.01%, GOOGL 3.19%
Top Shared Holdings
| Stock | Weight in IVV | Weight in PEY | Difference |
|---|---|---|---|
| PFEPfizer, Inc. | 0.22% | 2.39% | 2.17% |
| PRUPrudential Financial Inc. | 0.06% | 2.48% | 2.42% |
| LYBLyondellbasell Industries Nv Class A | 0.02% | 2.44% | 2.42% |
| UPSUnited Parcel Service, Inc | 0.12% | 2.32% | 2.20% |
| VZVerizon Communications, Inc. | 0.29% | 2.09% | 1.80% |
| CLXClorox Co. | 0.02% | 2.36% | 2.34% |
| MOAltria Group Inc. | 0.17% | 2.18% | 2.01% |
| KMBKimberly-Clark Corp. | 0.06% | 2.19% | 2.13% |
| PAYXPaychex, Inc. | 0.06% | 2.08% | 2.02% |
| BMYBristol-Myers Squibb Co. | 0.20% | 1.86% | 1.66% |
50.2% of PEY is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, IVV or PEY?
IVV has an expense ratio of 0.03% while PEY charges 0.54%. IVV is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, IVV or PEY?
Over the past year IVV returned +17.57% vs +18.52% for PEY, so PEY leads on 1-year performance. Over the longest common window we track (22 years), IVV annualized +9.27% vs +3.43% for PEY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PEY?
PEY has been the more volatile fund at 17.6% annualized versus 14.9% for IVV. Worst drawdown: IVV -56.5% vs PEY -75.6%.
Should I hold both IVV and PEY?
IVV and PEY have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and PEY?
50.2% of PEY's money is in holdings IVV also owns. 50.2% of PEY's is in holdings IVV also owns. They hold 26 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in PEY.
Which pays a higher dividend, IVV or PEY?
IVV yields 1.06% while PEY yields 4.19%, so PEY currently pays the higher dividend yield.
Is PEY better than IVV?
IVV has a lower expense ratio. IVV led over 3Y, 5Y and the full window, PEY over 1Y. PEY is less concentrated, with 29.6% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.