IVV vs RAYJ
iShares Core S&P 500 ETF vs Rayliant SMDAM Japan Equity ETF
Which is better, IVV or RAYJ?
RAYJ has been ahead.
IVV has a lower expense ratio. RAYJ led over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 45.9%.
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 | RAYJ |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.72% |
| AUM | $886.7B | $24M |
| Dividend Yield | 1.10% | 4.76% |
| Holdings | 508 | 34 |
| Volatility (annualized) | 12.2%Best | 20.6% |
| Max Drawdown | -18.8% | -16.6%Best |
| $10,000 over 2.3 years | $14,822 | $15,479Best |
| Top 10 Weight | 37.9%Best | 45.9% |
| Fund Family | iShares by BlackRock (US) | Rayliant Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Apr 4, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 36 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 4, 2026 and RAYJ through Jul 30, 2026.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Apr 4, 2024 to Jul 30, 2026 (2.3 years).
Risk: Volatility and Drawdowns
RAYJ has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 12.2% 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 -18.8% for IVV and -16.6% for RAYJ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while RAYJ charges 0.72%. On a $10,000 position that is $3 vs $72 annually, a gap of $69 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 4.76% for RAYJ.
Holdings Overlap
We hold position weights for 505 holdings in IVV and 32 in RAYJ, totalling 100.0% and 99.8% 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 97 days apart, IVV as of Aug 5, 2026 and RAYJ as of Apr 30, 2026, 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 505 positions we hold weights for in IVV and 32 in RAYJ, against full books of 508 and 34.
What only one of them owns
Our book lists 0 positions for RAYJ that do not appear in our book for IVV (0.0% of the fund), and 497 for IVV that do not appear in RAYJ (99.3%).
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 RAYJ 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 RAYJ?
IVV has an expense ratio of 0.03% while RAYJ charges 0.72%. IVV is the cheaper option, by $69 a year on a $10,000 investment.
Which is riskier, IVV or RAYJ?
RAYJ has been the more volatile fund at 20.6% annualized versus 12.2% for IVV. Worst drawdown: IVV -18.8% vs RAYJ -16.6%.
Should I hold both IVV and RAYJ?
IVV and RAYJ have a monthly-return correlation of 0.64, 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 RAYJ?
IVV yields 1.10% while RAYJ yields 4.76%, so RAYJ currently pays the higher dividend yield.
Is RAYJ better than IVV?
IVV has a lower expense ratio. RAYJ led over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.