IVV vs QLV
iShares Core S&P 500 ETF vs FlexShares US Quality Low Volatility Index Fund
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | QLV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.08% | |
| AUM | $907.0B | $168M | |
| Dividend Yield | 1.10% | 1.53% | |
| Holdings | 508 | 122 | |
| YTD Return | +12.71% | +12.31% | |
| 1Y Return | +21.89% | +15.70% | |
| 3Y Return (annualized) | +22.08% | +16.60% | |
| 5Y Return (annualized) | +12.96% | +10.00% | |
| Volatility (annualized) | 15.1% | 13.7% | |
| Max Drawdown | -56.5% | -34.0% | |
| Fund Family | iShares by BlackRock (US) | Flexshares Trust | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jul 15, 2019 |
IVV vs QLV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and FlexShares US Quality Low Volatility Index Fund (QLV) is a ETF from Flexshares Trust. Over the past year IVV returned +21.89% while QLV returned +15.70%. Year to date, IVV is up 12.71% versus a gain of 12.31% for QLV.
Over three years, IVV compounded at +22.08% per year against +16.60% for QLV; over five years the annualized figures are +12.96% and +10.00% respectively. Across the full 7-year window we track, QLV has the edge at +11.57% annualized vs +7.00%. 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 13.7% for QLV. 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 -34.0% for QLV. 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 0.92. 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 QLV charges 0.08%. On a $10,000 position that is $3 vs $8 annually, a gap of $5 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 1.53% for QLV.
Holdings Overlap
IVV and QLV share 83 holdings out of 539 unique holdings combined, representing a 39.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or QLV?
IVV has an expense ratio of 0.03% while QLV charges 0.08%. IVV is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, IVV or QLV?
Over the past year IVV returned +21.89% vs +15.70% for QLV, so IVV leads on 1-year performance. Over the longest common window we track (7 years), IVV annualized +7.00% vs +11.57% for QLV. Past performance does not guarantee future results.
Which is riskier, IVV or QLV?
IVV has been the more volatile fund at 15.1% annualized versus 13.7% for QLV. Worst drawdown: IVV -56.5% vs QLV -34.0%.
Should I hold both IVV and QLV?
IVV and QLV have a monthly-return correlation of 0.92, 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 QLV?
IVV and QLV share 83 common holdings with a 39.8% weight overlap. Combined, they hold 539 unique securities.
Which pays a higher dividend, IVV or QLV?
IVV yields 1.10% while QLV yields 1.53%, so QLV currently pays the higher dividend yield.
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