IVV vs PIE
iShares Core S&P 500 ETF vs Invesco Dorsey Wright Emerging Markets Momentum ETF
Quick Verdict
IVV has a lower expense ratio. PIE delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | PIE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.90% | |
| AUM | $865.2B | $237M | |
| Dividend Yield | 1.09% | 1.71% | |
| Holdings | 508 | 113 | |
| YTD Return | +13.80% | +36.53% | |
| 1Y Return | +23.70% | +49.36% | |
| 3Y Return (annualized) | +21.49% | +21.36% | |
| 5Y Return (annualized) | +13.43% | +7.36% | |
| Volatility (annualized) | 15.1% | 22.8% | |
| Max Drawdown | -56.5% | -73.1% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 28, 2007 |
IVV vs PIE Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is a ETF from Invesco (US). Over the past year IVV returned +23.70% while PIE returned +49.36%. Year to date, IVV is up 13.80% versus a gain of 36.53% for PIE.
Over three years, IVV compounded at +21.49% per year against +21.36% for PIE; over five years the annualized figures are +13.43% and +7.36% respectively. Across the full 19-year window we track, IVV has the edge at +7.05% annualized vs +2.06%. 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 15.1% 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 -73.1% for PIE. 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 0.74. 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 1.09% against 1.71% for PIE.
Holdings Overlap
IVV and PIE share 0 holdings out of 607 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 PIE?
IVV has an expense ratio of 0.03% while PIE charges 0.90%. IVV is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, IVV or PIE?
Over the past year IVV returned +23.70% vs +49.36% for PIE, so PIE leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +7.05% vs +2.06% for PIE. Past performance does not guarantee future results.
Which is riskier, IVV or PIE?
PIE has been the more volatile fund at 22.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PIE -73.1%.
Should I hold both IVV and PIE?
IVV and PIE have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PIE?
IVV and PIE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 607 unique securities.
Which pays a higher dividend, IVV or PIE?
IVV yields 1.09% while PIE yields 1.71%, so PIE currently pays the higher dividend yield.
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