IVV vs PEZ
iShares Core S&P 500 ETF vs Invesco Dorsey Wright Consumer Cyclicals Momentum ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | PEZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.60% | |
| AUM | $865.2B | $22M | |
| Dividend Yield | 1.09% | 0.24% | |
| Holdings | 508 | 48 | |
| YTD Return | +14.50% | -2.64% | |
| 1Y Return | +22.02% | +1.46% | |
| 3Y Return (annualized) | +21.80% | +13.40% | |
| 5Y Return (annualized) | +13.37% | +2.72% | |
| Volatility (annualized) | 15.1% | 21.7% | |
| Max Drawdown | -56.5% | -59.0% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Oct 12, 2006 |
IVV vs PEZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Dorsey Wright Consumer Cyclicals Momentum ETF (PEZ) is a ETF from Invesco (US). Over the past year IVV returned +22.02% while PEZ returned +1.46%. Year to date, IVV is up 14.50% versus a loss of 2.64% for PEZ.
Over three years, IVV compounded at +21.80% per year against +13.40% for PEZ; over five years the annualized figures are +13.37% and +2.72% respectively. Across the full 20-year window we track, PEZ has the edge at +7.34% annualized vs +7.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PEZ has been the more volatile fund, with annualized monthly volatility of 21.7% 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 -59.0% for PEZ. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PEZ charges 0.60%. On a $10,000 position that is $3 vs $60 annually, a gap of $57 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.24% for PEZ.
Holdings Overlap
IVV and PEZ share 15 holdings out of 535 unique holdings combined, representing a 2.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PEZ?
IVV has an expense ratio of 0.03% while PEZ charges 0.60%. IVV is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, IVV or PEZ?
Over the past year IVV returned +22.02% vs +1.46% for PEZ, so IVV leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.07% vs +7.34% for PEZ. Past performance does not guarantee future results.
Which is riskier, IVV or PEZ?
PEZ has been the more volatile fund at 21.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PEZ -59.0%.
Should I hold both IVV and PEZ?
IVV and PEZ have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PEZ?
IVV and PEZ share 15 common holdings with a 2.4% weight overlap. Combined, they hold 535 unique securities.
Which pays a higher dividend, IVV or PEZ?
IVV yields 1.09% while PEZ yields 0.24%, so IVV currently pays the higher dividend yield.
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