IVV vs PIZ
iShares Core S&P 500 ETF vs Invesco Dorsey Wright Developed Markets Momentum 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 | PIZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.80% | |
| AUM | $907.0B | $734M | |
| Dividend Yield | 1.10% | 1.63% | |
| Holdings | 508 | 116 | |
| YTD Return | +14.29% | +11.68% | |
| 1Y Return | +21.79% | +19.89% | |
| 3Y Return (annualized) | +22.19% | +23.57% | |
| 5Y Return (annualized) | +13.28% | +8.19% | |
| Volatility (annualized) | 15.1% | 20.5% | |
| Max Drawdown | -56.5% | -61.1% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 28, 2007 |
IVV vs PIZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) is a ETF from Invesco (US). Over the past year IVV returned +21.79% while PIZ returned +19.89%. Year to date, IVV is up 14.29% versus a gain of 11.68% for PIZ.
Over three years, IVV compounded at +22.19% per year against +23.57% for PIZ; over five years the annualized figures are +13.28% and +8.19% respectively. Across the full 19-year window we track, IVV has the edge at +7.06% annualized vs +4.77%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIZ has been the more volatile fund, with annualized monthly volatility of 20.5% 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 -61.1% for PIZ. 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PIZ charges 0.80%. On a $10,000 position that is $3 vs $80 annually, a gap of $77 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 1.63% for PIZ.
Holdings Overlap
IVV and PIZ share 0 holdings out of 605 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 PIZ?
IVV has an expense ratio of 0.03% while PIZ charges 0.80%. IVV is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, IVV or PIZ?
Over the past year IVV returned +21.79% vs +19.89% for PIZ, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +7.06% vs +4.77% for PIZ. Past performance does not guarantee future results.
Which is riskier, IVV or PIZ?
PIZ has been the more volatile fund at 20.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PIZ -61.1%.
Should I hold both IVV and PIZ?
IVV and PIZ have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PIZ?
IVV and PIZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 605 unique securities.
Which pays a higher dividend, IVV or PIZ?
IVV yields 1.10% while PIZ yields 1.63%, so PIZ currently pays the higher dividend yield.
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