IVV vs SMLL
iShares Core S&P 500 ETF vs Harbor Active Small Cap ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | SMLL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.80% | |
| AUM | $865.2B | $14M | |
| Dividend Yield | 1.09% | 1.52% | |
| Holdings | 508 | 49 | |
| YTD Return | +14.50% | +12.12% | |
| 1Y Return | +22.02% | +2.31% | |
| 3Y Return (annualized) | +21.80% | - | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.1% | 17.1% | |
| Max Drawdown | -56.5% | -23.6% | |
| Fund Family | iShares by BlackRock (US) | Harbor Funds | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Aug 27, 2024 |
IVV vs SMLL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Harbor Active Small Cap ETF (SMLL) is a ETF from Harbor Funds. Over the past year IVV returned +22.02% while SMLL returned +2.31%. Year to date, IVV is up 14.50% versus a gain of 12.12% for SMLL.
Risk: Volatility and Drawdowns
SMLL has been the more volatile fund, with annualized monthly volatility of 17.1% 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 -23.6% for SMLL. 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 0.74. 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 1.09% against 1.52% for SMLL.
Holdings Overlap
IVV and SMLL share 3 holdings out of 550 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $77 per year of difference.
Which performed better, IVV or SMLL?
Over the past year IVV returned +22.02% vs +2.31% for SMLL, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +7.07% vs +7.59% for SMLL. Past performance does not guarantee future results.
Which is riskier, IVV or SMLL?
SMLL has been the more volatile fund at 17.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SMLL -23.6%.
Should I hold both IVV and SMLL?
IVV and SMLL have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SMLL?
IVV and SMLL share 3 common holdings with a 0.7% weight overlap. Combined, they hold 550 unique securities.
Which pays a higher dividend, IVV or SMLL?
IVV yields 1.09% while SMLL yields 1.52%, so SMLL currently pays the higher dividend yield.
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