IVV vs PHK
iShares Core S&P 500 ETF vs PIMCO High Income Fund
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 | PHK | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 2.92% | |
| AUM | $865.2B | $845M | |
| Dividend Yield | 1.09% | 12.72% | |
| Holdings | 508 | 468 | |
| YTD Return | +13.80% | +3.65% | |
| 1Y Return | +23.01% | +8.24% | |
| 3Y Return (annualized) | +21.77% | +10.04% | |
| 5Y Return (annualized) | +13.39% | +3.51% | |
| Volatility (annualized) | 15.1% | 26.4% | |
| Max Drawdown | -56.5% | -80.9% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Apr 30, 2003 |
IVV vs PHK Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO High Income Fund (PHK) is a ETF from PIMCO (US). Over the past year IVV returned +23.01% while PHK returned +8.24%. Year to date, IVV is up 13.80% versus a gain of 3.65% for PHK.
Over three years, IVV compounded at +21.77% per year against +10.04% for PHK; over five years the annualized figures are +13.39% and +3.51% respectively. Across the full 23-year window we track, IVV has the edge at +7.04% annualized vs -2.32%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHK has been the more volatile fund, with annualized monthly volatility of 26.4% 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 -80.9% for PHK. 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PHK charges 2.92%. On a $10,000 position that is $3 vs $292 annually, a gap of $289 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 12.72% for PHK.
Holdings Overlap
IVV and PHK share 1 holdings out of 526 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PHK | Difference |
|---|---|---|---|
| VICI | 0.04% | 0.37% | 0.33% |
Frequently Asked Questions
Which is cheaper, IVV or PHK?
IVV has an expense ratio of 0.03% while PHK charges 2.92%. IVV is the cheaper option. On a $10,000 investment, that is $289 per year of difference.
Which performed better, IVV or PHK?
Over the past year IVV returned +23.01% vs +8.24% for PHK, so IVV leads on 1-year performance. Over the longest common window we track (23 years), IVV annualized +7.04% vs -2.32% for PHK. Past performance does not guarantee future results.
Which is riskier, IVV or PHK?
PHK has been the more volatile fund at 26.4% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PHK -80.9%.
Should I hold both IVV and PHK?
IVV and PHK have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PHK?
IVV and PHK share 1 common holdings with a 0.0% weight overlap. Combined, they hold 526 unique securities.
Which pays a higher dividend, IVV or PHK?
IVV yields 1.09% while PHK yields 12.72%, so PHK currently pays the higher dividend yield.
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