IVV vs PIE
iShares Core S&P 500 ETF vs Invesco Dorsey Wright Emerging Markets Momentum ETF
Which is better, IVV or PIE?
Large Cap Blend against Large Cap Growth.
IVV has a lower expense ratio. IVV led over 5Y and the full window, PIE over 1Y and 3Y. PIE is less concentrated, with 24.6% of the fund in its ten largest positions against 38.1%.
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 | PIE |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.90% |
| AUM | $882.6B | $254M |
| Dividend Yield | 1.06% | 1.69% |
| Holdings | 508 | 226 |
| YTD Return | +14.82% | +48.20%Best |
| 1Y Return | +18.68% | +49.62%Best |
| 3Y Return (annualized) | +23.30% | +26.72%Best |
| 5Y Return (annualized) | +13.99%Best | +11.01% |
| Volatility (annualized) | 15.7%Best | 22.8% |
| Max Drawdown | -53.8%Best | -73.1% |
| $10,000 over 5 years | $19,246Best | $16,858 |
| Top 10 Weight | 38.1% | 24.6%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | May 15, 2000 | Dec 28, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Dec 28, 2007 to Oct 12, 2026 (18.8 years).
IVV vs PIE 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 18.8 years both funds cover.
IVV vs PIE Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is an ETF from Invesco (US). Over the past year IVV returned +18.68% while PIE returned +49.62%. Year to date, IVV is up 14.82% versus a gain of 48.20% for PIE.
Over three years, IVV compounded at +23.30% per year against +26.72% for PIE; over five years the annualized figures are +13.99% and +11.01% respectively. Across the full 19-year window we track, IVV has the edge at +9.74% annualized vs +2.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIE has been the more volatile fund, with annualized monthly volatility of 22.8% compared with 15.7% 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 -53.8% for IVV and -73.1% for PIE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PIE charges 0.90%. On a $10,000 position that is $3 vs $90 annually, a gap of $87 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.69% for PIE.
Holdings Overlap
We hold position weights for 505 holdings in IVV and 99 in PIE, totalling 99.9% and 98.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 505 positions we hold weights for in IVV and 99 in PIE, against full books of 508 and 226.
What only one of them owns
Our book lists 2 positions for PIE that do not appear in our book for IVV (1.3% of the fund), and 497 for IVV that do not appear in PIE (99.3%).
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.
You are not choosing between two funds in isolation.
Whichever of IVV and PIE 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 is cheaper, IVV or PIE?
IVV has an expense ratio of 0.03% while PIE charges 0.90%. IVV is the cheaper option, by $87 a year on a $10,000 investment.
Which performed better, IVV or PIE?
Over the past year IVV returned +18.68% vs +49.62% for PIE, so PIE leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +9.74% vs +2.49% for PIE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PIE?
PIE has been the more volatile fund at 22.8% annualized versus 15.7% for IVV. Worst drawdown: IVV -53.8% vs PIE -73.1%.
Should I hold both IVV and PIE?
IVV and PIE have a monthly-return correlation of 0.74, 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 PIE?
IVV yields 1.06% while PIE yields 1.69%, so PIE currently pays the higher dividend yield.
Is PIE better than IVV?
IVV has a lower expense ratio. IVV led over 5Y and the full window, PIE over 1Y and 3Y. PIE is less concentrated, with 24.6% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.