IVV vs RAYE
iShares Core S&P 500 ETF vs Rayliant Quantamental Emerging Market ex-China Equity ETF
Which is better, IVV or RAYE?
Each has led over a different period.
IVV has a lower expense ratio. IVV led over the full window, RAYE over 1Y.
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 | RAYE |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.88% |
| AUM | $876.4B | $37M |
| Dividend Yield | 1.06% | 2.93% |
| Holdings | 508 | 119 |
| Volatility (annualized) | 16.0% | 15.7%Best |
| Max Drawdown | -24.5%Best | -26.9% |
| $10,000 over 4 years | $15,506Best | $12,318 |
| Top 10 Weight | 37.8%Tie | 37.8%Tie |
| Fund Family | iShares by BlackRock (US) | The Advisors Inner Circle Fund |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Dec 15, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 277 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Sep 22, 2026 and RAYE through Dec 19, 2025.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Dec 16, 2021 to Dec 19, 2025 (4 years).
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.7% for RAYE. 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 -24.5% for IVV and -26.9% for RAYE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while RAYE charges 0.88%. On a $10,000 position that is $3 vs $88 annually, a gap of $85 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.93% for RAYE.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 98 in RAYE, totalling 99.3% and 96.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 367 days apart, IVV as of Aug 31, 2026 and RAYE as of Aug 29, 2025, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 98 in RAYE, against full books of 508 and 119.
What only one of them owns
Our book lists 4 positions for RAYE that do not appear in our book for IVV (3.2% of the fund), and 482 for IVV that do not appear in RAYE (98.6%).
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.
You are not choosing between two funds in isolation.
Whichever of IVV and RAYE you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or RAYE?
IVV has an expense ratio of 0.03% while RAYE charges 0.88%. IVV is the cheaper option, by $85 a year on a $10,000 investment.
Which is riskier, IVV or RAYE?
IVV has been the more volatile fund at 16.0% annualized versus 15.7% for RAYE. Worst drawdown: IVV -24.5% vs RAYE -26.9%.
Should I hold both IVV and RAYE?
IVV and RAYE have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or RAYE?
IVV yields 1.06% while RAYE yields 2.93%, so RAYE currently pays the higher dividend yield.
Is RAYE better than IVV?
IVV has a lower expense ratio. IVV led over the full window, RAYE over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.