IVV vs PHO
iShares Core S&P 500 ETF vs Invesco Water Resources ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PHO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.59% | |
| AUM | $907.0B | $2.1B | |
| Dividend Yield | 1.10% | 0.58% | |
| Holdings | 508 | 42 | |
| YTD Return | +12.96% | +0.31% | |
| 1Y Return | +20.70% | -1.75% | |
| 3Y Return (annualized) | +22.10% | +9.10% | |
| 5Y Return (annualized) | +13.40% | +4.94% | |
| Volatility (annualized) | 15.1% | 18.8% | |
| Max Drawdown | -56.5% | -55.8% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 6, 2005 |
IVV vs PHO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Water Resources ETF (PHO) is a ETF from Invesco (US). Over the past year IVV returned +20.70% while PHO returned -1.75%. Year to date, IVV is up 12.96% versus a gain of 0.31% for PHO.
Over three years, IVV compounded at +22.10% per year against +9.10% for PHO; over five years the annualized figures are +13.40% and +4.94% respectively. Across the full 21-year window we track, PHO has the edge at +7.76% annualized vs +7.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PHO has been the more volatile fund, with annualized monthly volatility of 18.8% 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 -55.8% for PHO. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PHO charges 0.59%. On a $10,000 position that is $3 vs $59 annually, a gap of $56 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.58% for PHO.
Holdings Overlap
IVV and PHO share 13 holdings out of 533 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PHO?
IVV has an expense ratio of 0.03% while PHO charges 0.59%. IVV is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, IVV or PHO?
Over the past year IVV returned +20.70% vs -1.75% for PHO, so IVV leads on 1-year performance. Over the longest common window we track (21 years), IVV annualized +7.01% vs +7.76% for PHO. Past performance does not guarantee future results.
Which is riskier, IVV or PHO?
PHO has been the more volatile fund at 18.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PHO -55.8%.
Should I hold both IVV and PHO?
IVV and PHO have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PHO?
IVV and PHO share 13 common holdings with a 0.6% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, IVV or PHO?
IVV yields 1.10% while PHO yields 0.58%, so IVV currently pays the higher dividend yield.
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