IVV vs PKW
iShares Core S&P 500 ETF vs Invesco BuyBack Achievers ETF
Which is better, IVV or PKW?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and 5Y, PKW over the full window. The two have moved almost in lockstep, correlation 0.92. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 39.2%.
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 | PKW |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.62% |
| AUM | $876.4B | $1.8B |
| Dividend Yield | 1.06% | 0.74% |
| Holdings | 508 | 227 |
| YTD Return | +12.24%Best | +11.21% |
| 1Y Return | +18.61%Best | +15.20% |
| 3Y Return (annualized) | +20.98%Best | +18.72% |
| 5Y Return (annualized) | +12.76%Best | +11.24% |
| Volatility (annualized) | 15.4%Best | 17.1% |
| Max Drawdown | -56.5% | -55.3%Best |
| $10,000 over 5 years | $18,230Best | $17,034 |
| Top 10 Weight | 37.9%Best | 39.2% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | Dec 20, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Dec 20, 2006 to Sep 9, 2026 (19.7 years).
IVV vs PKW 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 19.7 years both funds cover.
IVV vs PKW Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco BuyBack Achievers ETF (PKW) is an ETF from Invesco (US). Over the past year IVV returned +18.61% while PKW returned +15.20%. Year to date, IVV is up 12.24% versus a gain of 11.21% for PKW.
Over three years, IVV compounded at +20.98% per year against +18.72% for PKW; over five years the annualized figures are +12.76% and +11.24% respectively. Across the full 20-year window we track, PKW has the edge at +9.83% annualized vs +9.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PKW has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 15.4% 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 -55.3% for PKW. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while PKW charges 0.62%. On a $10,000 position that is $3 vs $62 annually, a gap of $59 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.74% for PKW.
Holdings Overlap
4.2% of IVV's money is in holdings PKW also owns. 70.7% of PKW's money is in holdings IVV also owns.
Most of PKW is already inside IVV. Owning both mostly buys the same companies twice.
51 positions in common, counted across the 505 positions we hold weights for in IVV and 279 in PKW, against full books of 508 and 227.
What only one of them owns
Our book lists 214 positions for PKW that do not appear in our book for IVV (26.7% of the fund), and 444 for IVV that do not appear in PKW (95.2%).
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.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PKW | Difference |
|---|---|---|---|
| BACBank Of America Corp. | 0.62% | 5.05% | 4.43% |
| SCHWCharles Schwab Corp. | 0.27% | 5.28% | 5.01% |
| WFCWells Fargo & Co. | 0.41% | 4.90% | 4.49% |
| CRMSalesforce Inc. | 0.24% | 4.92% | 4.68% |
| CCitigroup Inc. | 0.35% | 4.50% | 4.15% |
| ADBEAdobe Inc | 0.16% | 3.26% | 3.10% |
| JCIJohnson Controls International Plc | 0.14% | 3.19% | 3.05% |
| VLOValero Energy Corp. | 0.13% | 2.78% | 2.65% |
| MPCMarathon Petroleum Corp. | 0.13% | 2.77% | 2.64% |
| GMGeneral Motors Co. | 0.12% | 2.56% | 2.44% |
70.7% of PKW is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or PKW?
IVV has an expense ratio of 0.03% while PKW charges 0.62%. IVV is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, IVV or PKW?
Over the past year IVV returned +18.61% vs +15.20% for PKW, so IVV leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +9.33% vs +9.83% for PKW. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PKW?
PKW has been the more volatile fund at 17.1% annualized versus 15.4% for IVV. Worst drawdown: IVV -56.5% vs PKW -55.3%.
Should I hold both IVV and PKW?
IVV and PKW have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and PKW?
70.7% of PKW's money is in holdings IVV also owns. 70.7% of PKW's is in holdings IVV also owns. They hold 51 positions in common, counted across the 505 positions we hold weights for in IVV and 279 in PKW.
Which pays a higher dividend, IVV or PKW?
IVV yields 1.06% while PKW yields 0.74%, so IVV currently pays the higher dividend yield.
Is PKW better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and 5Y, PKW over the full window. The two have moved almost in lockstep, correlation 0.92. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 39.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.