IVV vs PFO
iShares Core S&P 500 ETF vs Flaherty & Crumrine Preferred Income Opportunity Fund Inc
Which is better, IVV or PFO?
Large Cap Blend against Preferred Stock.
IVV led over 1Y, 3Y, 5Y and the full window.
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 | PFO |
|---|---|---|
| Expense Ratio | 0.03% | - |
| AUM | $876.4B | $131M |
| Dividend Yield | 1.06% | 6.76% |
| Holdings | 508 | 260 |
| YTD Return | +12.98%Best | -4.97% |
| 1Y Return | +16.69%Best | -5.76% |
| 3Y Return (annualized) | +23.02%Best | +12.24% |
| 5Y Return (annualized) | +13.61%Best | -0.84% |
| Volatility (annualized) | 15.1%Best | 19.4% |
| Max Drawdown | -56.5%Best | -83.2% |
| $10,000 over 5 years | $18,927Best | $9,587 |
| Fund Family | iShares by BlackRock (US) | Flaherty & Crumrine |
| Category | Equity | Allocation/Balanced |
| Style | Large Cap Blend | Preferred Stock |
| Inception | May 15, 2000 | Feb 13, 1992 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 28, 2026 (26.4 years).
IVV vs PFO 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 26.4 years both funds cover.
IVV vs PFO Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Flaherty & Crumrine Preferred Income Opportunity Fund Inc (PFO) is an ETF from Flaherty & Crumrine. Over the past year IVV returned +16.69% while PFO returned -5.76%. Year to date, IVV is up 12.98% versus a loss of 4.97% for PFO.
Over three years, IVV compounded at +23.02% per year against +12.24% for PFO; over five years the annualized figures are +13.61% and -0.84% respectively. Across the full 26-year window we track, IVV has the edge at +6.98% annualized vs +1.18%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PFO has been the more volatile fund, with annualized monthly volatility of 19.4% 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 -83.2% for PFO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.38. They move together some of the time, and apart the rest.
Holdings Overlap
At least 0.5% of IVV's money is in holdings PFO also owns.
Stated as a floor: for PFO, our book for it covers 79.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 92 days apart, IVV as of Aug 31, 2026 and PFO as of May 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
3 positions in common, counted across the 490 positions we hold weights for in IVV and 212 in PFO, against full books of 508 and 260.
You are not choosing between two funds in isolation.
Whichever of IVV and PFO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which performed better, IVV or PFO?
Over the past year IVV returned +16.69% vs -5.76% for PFO, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.98% vs +1.18% for PFO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PFO?
PFO has been the more volatile fund at 19.4% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PFO -83.2%.
Should I hold both IVV and PFO?
IVV and PFO have a monthly-return correlation of 0.38, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or PFO?
IVV yields 1.06% while PFO yields 6.76%, so PFO currently pays the higher dividend yield.
Is PFO better than IVV?
IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.