IVV vs RFV
iShares Core S&P 500 ETF vs Invesco S&P Midcap 400 Pure Value ETF
Quick Verdict
IVV has a lower expense ratio. RFV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | RFV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.35% | |
| AUM | $865.2B | $334M | |
| Dividend Yield | 1.09% | 1.69% | |
| Holdings | 508 | 101 | |
| YTD Return | +13.80% | +17.00% | |
| 1Y Return | +23.70% | +26.91% | |
| 3Y Return (annualized) | +21.49% | +13.86% | |
| 5Y Return (annualized) | +13.43% | +12.05% | |
| Volatility (annualized) | 15.1% | 24.2% | |
| Max Drawdown | -56.5% | -73.1% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Mar 1, 2006 |
IVV vs RFV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco S&P Midcap 400 Pure Value ETF (RFV) is a ETF from Invesco (US). Over the past year IVV returned +23.70% while RFV returned +26.91%. Year to date, IVV is up 13.80% versus a gain of 17.00% for RFV.
Over three years, IVV compounded at +21.49% per year against +13.86% for RFV; over five years the annualized figures are +13.43% and +12.05% respectively. Across the full 20-year window we track, RFV has the edge at +8.61% annualized vs +7.05%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RFV has been the more volatile fund, with annualized monthly volatility of 24.2% 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 -73.1% for RFV. 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while RFV charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.69% for RFV.
Holdings Overlap
IVV and RFV share 0 holdings out of 603 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or RFV?
IVV has an expense ratio of 0.03% while RFV charges 0.35%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, IVV or RFV?
Over the past year IVV returned +23.70% vs +26.91% for RFV, so RFV leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.05% vs +8.61% for RFV. Past performance does not guarantee future results.
Which is riskier, IVV or RFV?
RFV has been the more volatile fund at 24.2% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs RFV -73.1%.
Should I hold both IVV and RFV?
IVV and RFV have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and RFV?
IVV and RFV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 603 unique securities.
Which pays a higher dividend, IVV or RFV?
IVV yields 1.09% while RFV yields 1.69%, so RFV currently pays the higher dividend yield.
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