IVV vs SAA
iShares Core S&P 500 ETF vs ProShares Ultra SmallCap600
Quick Verdict
IVV has a lower expense ratio. SAA delivered stronger 1-year returns. SAA offers more diversification with 600 holdings.
Side-by-Side Comparison
| Metric | IVV | SAA | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.95% | |
| AUM | $865.2B | $29M | |
| Dividend Yield | 1.09% | 0.74% | |
| Holdings | 508 | 607 | |
| YTD Return | +13.43% | +43.63% | |
| 1Y Return | +22.61% | +69.30% | |
| 3Y Return (annualized) | +21.47% | +19.66% | |
| 5Y Return (annualized) | +13.26% | +4.51% | |
| Volatility (annualized) | 15.1% | 41.1% | |
| Max Drawdown | -56.5% | -88.1% | |
| Fund Family | iShares by BlackRock (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jan 23, 2007 |
IVV vs SAA Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and ProShares Ultra SmallCap600 (SAA) is a ETF from ProShares. Over the past year IVV returned +22.61% while SAA returned +69.30%. Year to date, IVV is up 13.43% versus a gain of 43.63% for SAA.
Over three years, IVV compounded at +21.47% per year against +19.66% for SAA; over five years the annualized figures are +13.26% and +4.51% respectively. Across the full 20-year window we track, SAA has the edge at +9.11% annualized vs +7.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SAA has been the more volatile fund, with annualized monthly volatility of 41.1% 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 -88.1% for SAA. 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 SAA charges 0.95%. On a $10,000 position that is $3 vs $95 annually, a gap of $92 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.74% for SAA.
Holdings Overlap
IVV and SAA share 3 holdings out of 1102 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or SAA?
IVV has an expense ratio of 0.03% while SAA charges 0.95%. IVV is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, IVV or SAA?
Over the past year IVV returned +22.61% vs +69.30% for SAA, so SAA leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.03% vs +9.11% for SAA. Past performance does not guarantee future results.
Which is riskier, IVV or SAA?
SAA has been the more volatile fund at 41.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SAA -88.1%.
Should I hold both IVV and SAA?
IVV and SAA 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 SAA?
IVV and SAA share 3 common holdings with a 0.3% weight overlap. Combined, they hold 1102 unique securities.
Which pays a higher dividend, IVV or SAA?
IVV yields 1.09% while SAA yields 0.74%, so IVV currently pays the higher dividend yield.
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