IVV vs PYZ
iShares Core S&P 500 ETF vs Invesco Dorsey Wright Basic Materials Momentum ETF
Quick Verdict
IVV has a lower expense ratio. PYZ delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | PYZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.60% | |
| AUM | $865.2B | $74M | |
| Dividend Yield | 1.09% | 0.47% | |
| Holdings | 508 | 45 | |
| YTD Return | +13.72% | +13.15% | |
| 1Y Return | +21.64% | +26.44% | |
| 3Y Return (annualized) | +21.55% | +15.48% | |
| 5Y Return (annualized) | +13.27% | +7.36% | |
| Volatility (annualized) | 15.1% | 24.1% | |
| Max Drawdown | -56.5% | -65.7% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Oct 12, 2006 |
IVV vs PYZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Dorsey Wright Basic Materials Momentum ETF (PYZ) is a ETF from Invesco (US). Over the past year IVV returned +21.64% while PYZ returned +26.44%. Year to date, IVV is up 13.72% versus a gain of 13.15% for PYZ.
Over three years, IVV compounded at +21.55% per year against +15.48% for PYZ; over five years the annualized figures are +13.27% and +7.36% respectively. Across the full 20-year window we track, PYZ has the edge at +8.72% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PYZ has been the more volatile fund, with annualized monthly volatility of 24.1% 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 -65.7% for PYZ. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while PYZ charges 0.60%. On a $10,000 position that is $3 vs $60 annually, a gap of $57 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.47% for PYZ.
Holdings Overlap
IVV and PYZ share 12 holdings out of 536 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or PYZ?
IVV has an expense ratio of 0.03% while PYZ charges 0.60%. IVV is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, IVV or PYZ?
Over the past year IVV returned +21.64% vs +26.44% for PYZ, so PYZ leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.04% vs +8.72% for PYZ. Past performance does not guarantee future results.
Which is riskier, IVV or PYZ?
PYZ has been the more volatile fund at 24.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PYZ -65.7%.
Should I hold both IVV and PYZ?
IVV and PYZ have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PYZ?
IVV and PYZ share 12 common holdings with a 1.1% weight overlap. Combined, they hold 536 unique securities.
Which pays a higher dividend, IVV or PYZ?
IVV yields 1.09% while PYZ yields 0.47%, so IVV currently pays the higher dividend yield.
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