IVV vs PJP
iShares Core S&P 500 ETF vs Invesco Pharmaceuticals ETF
Quick Verdict
IVV has a lower expense ratio. PJP delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PJP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.57% | |
| AUM | $907.0B | $511M | |
| Dividend Yield | 1.10% | 0.87% | |
| Holdings | 508 | 32 | |
| YTD Return | +14.29% | +20.76% | |
| 1Y Return | +21.79% | +41.59% | |
| 3Y Return (annualized) | +22.19% | +17.44% | |
| 5Y Return (annualized) | +13.28% | +9.83% | |
| Volatility (annualized) | 15.1% | 15.7% | |
| Max Drawdown | -56.5% | -42.4% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jun 23, 2005 |
IVV vs PJP Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Pharmaceuticals ETF (PJP) is a ETF from Invesco (US). Over the past year IVV returned +21.79% while PJP returned +41.59%. Year to date, IVV is up 14.29% versus a gain of 20.76% for PJP.
Over three years, IVV compounded at +22.19% per year against +17.44% for PJP; over five years the annualized figures are +13.28% and +9.83% respectively. Across the full 21-year window we track, PJP has the edge at +10.89% annualized vs +7.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PJP has been the more volatile fund, with annualized monthly volatility of 15.7% 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 -42.4% for PJP. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PJP charges 0.57%. On a $10,000 position that is $3 vs $57 annually, a gap of $54 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.87% for PJP.
Holdings Overlap
IVV and PJP share 12 holdings out of 523 unique holdings combined, representing a 5.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PJP?
IVV has an expense ratio of 0.03% while PJP charges 0.57%. IVV is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, IVV or PJP?
Over the past year IVV returned +21.79% vs +41.59% for PJP, so PJP leads on 1-year performance. Over the longest common window we track (21 years), IVV annualized +7.06% vs +10.89% for PJP. Past performance does not guarantee future results.
Which is riskier, IVV or PJP?
PJP has been the more volatile fund at 15.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PJP -42.4%.
Should I hold both IVV and PJP?
IVV and PJP have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PJP?
IVV and PJP share 12 common holdings with a 5.0% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, IVV or PJP?
IVV yields 1.10% while PJP yields 0.87%, so IVV 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.