IVV vs PICB
iShares Core S&P 500 ETF vs Invesco International Corporate Bond 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 | PICB | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.50% | |
| AUM | $865.2B | $356M | |
| Dividend Yield | 1.09% | 3.39% | |
| Holdings | 508 | 599 | |
| YTD Return | +13.80% | -0.65% | |
| 1Y Return | +23.01% | +0.96% | |
| 3Y Return (annualized) | +21.77% | +5.41% | |
| 5Y Return (annualized) | +13.39% | -2.05% | |
| Volatility (annualized) | 15.1% | 10.0% | |
| Max Drawdown | -56.5% | -38.1% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jun 3, 2010 |
IVV vs PICB Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco International Corporate Bond ETF (PICB) is a ETF from Invesco (US). Over the past year IVV returned +23.01% while PICB returned +0.96%. Year to date, IVV is up 13.80% versus a loss of 0.65% for PICB.
Over three years, IVV compounded at +21.77% per year against +5.41% for PICB; over five years the annualized figures are +13.39% and -2.05% respectively. Across the full 16-year window we track, IVV has the edge at +7.04% annualized vs +0.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 10.0% for PICB. 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 -38.1% for PICB. 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PICB charges 0.50%. On a $10,000 position that is $3 vs $50 annually, a gap of $47 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 3.39% for PICB.
Holdings Overlap
IVV and PICB share 0 holdings out of 900 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PICB?
IVV has an expense ratio of 0.03% while PICB charges 0.50%. IVV is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, IVV or PICB?
Over the past year IVV returned +23.01% vs +0.96% for PICB, so IVV leads on 1-year performance. Over the longest common window we track (16 years), IVV annualized +7.04% vs +0.35% for PICB. Past performance does not guarantee future results.
Which is riskier, IVV or PICB?
IVV has been the more volatile fund at 15.1% annualized versus 10.0% for PICB. Worst drawdown: IVV -56.5% vs PICB -38.1%.
Should I hold both IVV and PICB?
IVV and PICB have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PICB?
IVV and PICB share 0 common holdings with a 0.0% weight overlap. Combined, they hold 900 unique securities.
Which pays a higher dividend, IVV or PICB?
IVV yields 1.09% while PICB yields 3.39%, so PICB currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.