IVV vs SMLV
iShares Core S&P 500 ETF vs State Street SPDR US Small Cap Low Volatility Index ETF
Quick Verdict
IVV has a lower expense ratio. SMLV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | SMLV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.12% | |
| AUM | $907.0B | $263M | |
| Dividend Yield | 1.10% | 2.21% | |
| Holdings | 508 | 401 | |
| YTD Return | +12.96% | +23.39% | |
| 1Y Return | +20.70% | +27.89% | |
| 3Y Return (annualized) | +22.10% | +18.78% | |
| 5Y Return (annualized) | +13.40% | +10.19% | |
| Volatility (annualized) | 15.1% | 17.6% | |
| Max Drawdown | -56.5% | -42.9% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Feb 20, 2013 |
IVV vs SMLV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and State Street SPDR US Small Cap Low Volatility Index ETF (SMLV) is a ETF from State Street Investment Management. Over the past year IVV returned +20.70% while SMLV returned +27.89%. Year to date, IVV is up 12.96% versus a gain of 23.39% for SMLV.
Over three years, IVV compounded at +22.10% per year against +18.78% for SMLV; over five years the annualized figures are +13.40% and +10.19% respectively. Across the full 14-year window we track, SMLV has the edge at +8.75% annualized vs +7.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMLV has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -42.9% for SMLV. 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while SMLV charges 0.12%. On a $10,000 position that is $3 vs $12 annually, a gap of $9 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 2.21% for SMLV.
Holdings Overlap
IVV and SMLV share 0 holdings out of 904 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 SMLV?
IVV has an expense ratio of 0.03% while SMLV charges 0.12%. IVV is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, IVV or SMLV?
Over the past year IVV returned +20.70% vs +27.89% for SMLV, so SMLV leads on 1-year performance. Over the longest common window we track (14 years), IVV annualized +7.01% vs +8.75% for SMLV. Past performance does not guarantee future results.
Which is riskier, IVV or SMLV?
SMLV has been the more volatile fund at 17.6% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SMLV -42.9%.
Should I hold both IVV and SMLV?
IVV and SMLV have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SMLV?
IVV and SMLV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 904 unique securities.
Which pays a higher dividend, IVV or SMLV?
IVV yields 1.10% while SMLV yields 2.21%, so SMLV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.