IVV vs SMLL
iShares Core S&P 500 ETF vs Harbor Active Small Cap ETF
Which is better, IVV or SMLL?
Large Cap Blend against Small Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y and the full window. SMLL is less concentrated, with 36.1% of the fund in its ten largest positions against 38.1%.
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 | SMLL |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.80% |
| AUM | $882.6B | $13M |
| Dividend Yield | 1.06% | 1.49% |
| Holdings | 508 | 103 |
| YTD Return | +12.76%Best | +1.20% |
| 1Y Return | +15.57%Best | -3.36% |
| 3Y Return (annualized) | +22.95% | - |
| 5Y Return (annualized) | +13.54% | - |
| Volatility (annualized) | 12.2%Best | 17.4% |
| Max Drawdown | -18.8%Best | -23.6% |
| $10,000 over 2.1 years | $14,086Best | $10,416 |
| Top 10 Weight | 38.1% | 36.1%Best |
| Fund Family | iShares by BlackRock (US) | Harbor Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | May 15, 2000 | Aug 27, 2024 |
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Aug 29, 2024 to Oct 1, 2026 (2.1 years).
IVV vs SMLL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.1 years both funds cover.
IVV vs SMLL Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Harbor Active Small Cap ETF (SMLL) is an ETF from Harbor Funds. Over the past year IVV returned +15.57% while SMLL returned -3.36%. Year to date, IVV is up 12.76% versus a gain of 1.20% for SMLL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLL has been the more volatile fund, with annualized monthly volatility of 17.4% 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 -23.6% for SMLL. 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 SMLL charges 0.80%. On a $10,000 position that is $3 vs $80 annually, a gap of $77 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.49% for SMLL.
Holdings Overlap
0.1% of IVV's money is in holdings SMLL also owns. 6.5% of SMLL's money is in holdings IVV also owns.
SMLL and IVV share little of their money.
3 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in SMLL, against full books of 508 and 103.
What only one of them owns
Our book lists 48 positions for SMLL that do not appear in our book for IVV (90.9% of the fund), and 494 for IVV that do not appear in SMLL (99.2%).
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 SMLL 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 SMLL?
IVV has an expense ratio of 0.03% while SMLL charges 0.80%. IVV is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, IVV or SMLL?
Over the past year IVV returned +15.57% vs -3.36% for SMLL, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +17.72% vs +1.96% for SMLL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or SMLL?
SMLL has been the more volatile fund at 17.4% annualized versus 12.2% for IVV. Worst drawdown: IVV -18.8% vs SMLL -23.6%.
Should I hold both IVV and SMLL?
IVV and SMLL 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.
What is the holdings overlap between IVV and SMLL?
6.5% of SMLL's money is in holdings IVV also owns. 6.5% of SMLL's is in holdings IVV also owns. They hold 3 positions in common, counted across the 505 positions we hold weights for in IVV and 51 in SMLL.
Which pays a higher dividend, IVV or SMLL?
IVV yields 1.06% while SMLL yields 1.49%, so SMLL currently pays the higher dividend yield.
Is SMLL better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. SMLL is less concentrated, with 36.1% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.