IVV vs PWV
iShares Core S&P 500 ETF vs Invesco Large Cap Value ETF
Which is better, IVV or PWV?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over the full window, PWV over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.90. PWV is less concentrated, with 34.4% of the fund in its ten largest positions against 37.9%.
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 | PWV |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.55% |
| AUM | $876.4B | $2.4B |
| Dividend Yield | 1.06% | 1.62% |
| Holdings | 508 | 53 |
| YTD Return | +11.57% | +23.48%Best |
| 1Y Return | +17.57% | +29.58%Best |
| 3Y Return (annualized) | +20.71% | +21.75%Best |
| 5Y Return (annualized) | +12.80% | +15.28%Best |
| Volatility (annualized) | 14.9% | 14.4%Best |
| Max Drawdown | -56.5% | -50.7%Best |
| $10,000 over 5 years | $18,262 | $20,360Best |
| Top 10 Weight | 37.9% | 34.4%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | Mar 3, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Mar 3, 2005 to Sep 10, 2026 (21.5 years).
IVV vs PWV 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 21.5 years both funds cover.
IVV vs PWV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco Large Cap Value ETF (PWV) is an ETF from Invesco (US). Over the past year IVV returned +17.57% while PWV returned +29.58%. Year to date, IVV is up 11.57% versus a gain of 23.48% for PWV.
Over three years, IVV compounded at +20.71% per year against +21.75% for PWV; over five years the annualized figures are +12.80% and +15.28% respectively. Across the full 22-year window we track, IVV has the edge at +9.29% annualized vs +8.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.9% compared with 14.4% for PWV. 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 -50.7% for PWV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. 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 PWV charges 0.55%. On a $10,000 position that is $3 vs $55 annually, a gap of $52 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.62% for PWV.
Holdings Overlap
13.1% of IVV's money is in holdings PWV also owns. 99.9% of PWV's money is in holdings IVV also owns.
Most of PWV is already inside IVV. Owning both mostly buys the same companies twice.
50 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in PWV, against full books of 508 and 53.
What only one of them owns
Measured across the 505 and 51 positions we hold weights for.
IVV holds 445 positions PWV does not, 86.2% of the fund.
Largest: NVDA 7.98%, AAPL 6.86%, MSFT 5.44%, AMZN 4.01%, GOOGL 3.19%
Top Shared Holdings
| Stock | Weight in IVV | Weight in PWV | Difference |
|---|---|---|---|
| JPMJpmorgan Chase & Co. | 1.45% | 3.59% | 2.14% |
| JNJJohnson & Johnson | 0.93% | 3.41% | 2.48% |
| BACBank Of America Corp. | 0.62% | 3.71% | 3.09% |
| ABBVAbbvie Inc. | 0.65% | 3.55% | 2.90% |
| XOMExxon Mobil Corp. | 0.94% | 3.17% | 2.23% |
| WFCWells Fargo & Co. | 0.41% | 3.52% | 3.11% |
| UNHUnitedhealth Group Inc. | 0.56% | 3.34% | 2.78% |
| KOCoca Cola Co. | 0.51% | 3.32% | 2.81% |
| MRKMerck & Co. Inc. | 0.48% | 3.30% | 2.82% |
| GSGoldman Sachs Group Inc. | 0.47% | 3.27% | 2.80% |
99.9% of PWV 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 PWV?
IVV has an expense ratio of 0.03% while PWV charges 0.55%. IVV is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, IVV or PWV?
Over the past year IVV returned +17.57% vs +29.58% for PWV, so PWV leads on 1-year performance. Over the longest common window we track (22 years), IVV annualized +9.29% vs +8.77% for PWV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PWV?
IVV has been the more volatile fund at 14.9% annualized versus 14.4% for PWV. Worst drawdown: IVV -56.5% vs PWV -50.7%.
Should I hold both IVV and PWV?
IVV and PWV have a monthly-return correlation of 0.90, 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 PWV?
99.9% of PWV's money is in holdings IVV also owns. 99.9% of PWV's is in holdings IVV also owns. They hold 50 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in PWV.
Which pays a higher dividend, IVV or PWV?
IVV yields 1.06% while PWV yields 1.62%, so PWV currently pays the higher dividend yield.
Is PWV better than IVV?
IVV has a lower expense ratio. IVV led over the full window, PWV over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.90. PWV is less concentrated, with 34.4% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.