IVV vs SPAXX
iShares Core S&P 500 ETF vs Fidelity Government Money Market Fund
Quick Verdict
IVV has a lower expense ratio. SPAXX offers more diversification with 700 holdings.
Side-by-Side Comparison
| Metric | IVV | SPAXX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.42% | |
| AUM | $907.0B | $423.8B | |
| Dividend Yield | 1.10% | 3.18% | |
| Holdings | 508 | 700 | |
| YTD Return | +12.71% | +0.00% | |
| 1Y Return | +21.89% | - | |
| 3Y Return (annualized) | +22.08% | - | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | - | |
| Max Drawdown | -56.5% | 0.0% | |
| Fund Family | iShares by BlackRock (US) | Fidelity Investments (US) | |
| Category | Equity | Money Market | |
| Inception | May 15, 2000 | Feb 5, 1990 |
IVV vs SPAXX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Fidelity Government Money Market Fund (SPAXX) is a mutual fund from Fidelity Investments (US). Year to date, IVV is up 12.71% versus a gain of 0.00% for SPAXX.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for IVV and 0.0% for SPAXX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
IVV charges 0.03% per year while SPAXX charges 0.42%. On a $10,000 position that is $3 vs $42 annually, a gap of $39 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 3.18% for SPAXX.
Holdings Overlap
IVV and SPAXX share 0 holdings out of 545 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 SPAXX?
IVV has an expense ratio of 0.03% while SPAXX charges 0.42%. IVV is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
What is the holdings overlap between IVV and SPAXX?
IVV and SPAXX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, IVV or SPAXX?
IVV yields 1.10% while SPAXX yields 3.18%, so SPAXX currently pays the higher dividend yield.
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