IVV vs PHDG
iShares Core S&P 500 ETF vs Invesco S&P 500 Downside Hedged ETF
Which is better, IVV or PHDG?
Large Cap Blend against All Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 42.1%.
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 | PHDG |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.39% |
| AUM | $876.4B | $62M |
| Dividend Yield | 1.06% | 1.67% |
| Holdings | 508 | 514 |
| YTD Return | +12.01%Best | +10.64% |
| 1Y Return | +16.48%Best | +12.42% |
| 3Y Return (annualized) | +21.21%Best | +10.53% |
| 5Y Return (annualized) | +12.95%Best | +4.09% |
| Volatility (annualized) | 14.3% | 9.8%Best |
| Max Drawdown | -33.9% | -23.6%Best |
| $10,000 over 5 years | $18,384Best | $12,219 |
| Top 10 Weight | 37.8%Best | 42.1% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | All Cap Blend |
| Inception | May 15, 2000 | Dec 5, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Dec 6, 2012 to Sep 14, 2026 (13.8 years).
IVV vs PHDG 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 13.8 years both funds cover.
IVV vs PHDG Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco S&P 500 Downside Hedged ETF (PHDG) is an ETF from Invesco (US). Over the past year IVV returned +16.48% while PHDG returned +12.42%. Year to date, IVV is up 12.01% versus a gain of 10.64% for PHDG.
Over three years, IVV compounded at +21.21% per year against +10.53% for PHDG; over five years the annualized figures are +12.95% and +4.09% respectively. Across the full 14-year window we track, IVV has the edge at +13.60% annualized vs +4.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 9.8% for PHDG. 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 -33.9% for IVV and -23.6% for PHDG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while PHDG charges 0.39%. On a $10,000 position that is $3 vs $39 annually, a gap of $36 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.67% for PHDG.
Holdings Overlap
96.7% of IVV's money is in holdings PHDG also owns. 81.7% of PHDG's money is in holdings IVV also owns.
Most of IVV is already inside PHDG. Owning both mostly buys the same companies twice.
469 positions in common, counted across the 490 positions we hold weights for in IVV and 486 in PHDG, against full books of 508 and 514.
What only one of them owns
Our book lists 13 positions for PHDG that do not appear in our book for IVV (12.3% of the fund), and 15 for IVV that do not appear in PHDG (2.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PHDG | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.07% | 6.81% | 1.26% |
| AAPLApple, Inc | 7.02% | 5.93% | 1.09% |
| MSFTMicrosoft Corp | 5.69% | 4.81% | 0.88% |
| AMZNAmazon.Com Inc | 3.84% | 3.24% | 0.60% |
| GOOGLAlphabet Inc,class A | 3.00% | 2.53% | 0.47% |
| AVGOBroadcom Inc | 2.65% | 2.23% | 0.42% |
| GOOGAlphabet Inc | 2.39% | 2.02% | 0.37% |
| METAMeta Platforms Inc | 1.90% | 1.60% | 0.30% |
| MUMicron Technology, Inc. | 1.63% | 1.38% | 0.25% |
| TSLATesla Inc | 1.56% | 1.32% | 0.24% |
96.7% of IVV is already inside PHDG.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or PHDG?
IVV has an expense ratio of 0.03% while PHDG charges 0.39%. IVV is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, IVV or PHDG?
Over the past year IVV returned +16.48% vs +12.42% for PHDG, so IVV leads on 1-year performance. Over the longest common window we track (14 years), IVV annualized +13.60% vs +4.25% for PHDG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PHDG?
IVV has been the more volatile fund at 14.3% annualized versus 9.8% for PHDG. Worst drawdown: IVV -33.9% vs PHDG -23.6%.
Should I hold both IVV and PHDG?
IVV and PHDG have a monthly-return correlation of 0.69, 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 PHDG?
96.7% of IVV's money is in holdings PHDG also owns. 81.7% of PHDG's is in holdings IVV also owns. They hold 469 positions in common, counted across the 490 positions we hold weights for in IVV and 486 in PHDG.
Which pays a higher dividend, IVV or PHDG?
IVV yields 1.06% while PHDG yields 1.67%, so PHDG currently pays the higher dividend yield.
Is PHDG better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 42.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.