IVV vs PWV
iShares Core S&P 500 ETF vs Invesco Large Cap Value ETF
Quick Verdict
IVV has a lower expense ratio. PWV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | PWV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.55% | |
| AUM | $865.2B | $1.7B | |
| Dividend Yield | 1.09% | 1.74% | |
| Holdings | 508 | 52 | |
| YTD Return | +14.50% | +23.10% | |
| 1Y Return | +22.02% | +31.28% | |
| 3Y Return (annualized) | +21.80% | +21.25% | |
| 5Y Return (annualized) | +13.37% | +14.59% | |
| Volatility (annualized) | 15.1% | 14.5% | |
| Max Drawdown | -56.5% | -50.7% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Mar 3, 2005 |
IVV vs PWV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Large Cap Value ETF (PWV) is a ETF from Invesco (US). Over the past year IVV returned +22.02% while PWV returned +31.28%. Year to date, IVV is up 14.50% versus a gain of 23.10% for PWV.
Over three years, IVV compounded at +21.80% per year against +21.25% for PWV; over five years the annualized figures are +13.37% and +14.59% respectively. Across the full 21-year window we track, PWV has the edge at +8.79% annualized vs +7.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.5% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 1.09% against 1.74% for PWV.
Holdings Overlap
IVV and PWV share 49 holdings out of 507 unique holdings combined, representing a 12.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $52 per year of difference.
Which performed better, IVV or PWV?
Over the past year IVV returned +22.02% vs +31.28% for PWV, so PWV leads on 1-year performance. Over the longest common window we track (21 years), IVV annualized +7.07% vs +8.79% for PWV. Past performance does not guarantee future results.
Which is riskier, IVV or PWV?
IVV has been the more volatile fund at 15.1% annualized versus 14.5% 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and PWV?
IVV and PWV share 49 common holdings with a 12.7% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or PWV?
IVV yields 1.09% while PWV yields 1.74%, so PWV 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.