IVV vs SPLV
iShares Core S&P 500 ETF vs Invesco S&P 500 Low Volatility ETF
Which is better, IVV or SPLV?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% of the fund in its ten largest positions against 37.8%.
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 | SPLV |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.25% |
| AUM | $876.4B | $7.1B |
| Dividend Yield | 1.06% | 2.18% |
| Holdings | 508 | 111 |
| YTD Return | +12.27%Best | +4.13% |
| 1Y Return | +17.04%Best | +2.89% |
| 3Y Return (annualized) | +21.24%Best | +8.29% |
| 5Y Return (annualized) | +13.08%Best | +5.34% |
| Volatility (annualized) | 14.3% | 11.6%Best |
| Max Drawdown | -33.9%Best | -36.6% |
| $10,000 over 5 years | $18,490Best | $12,971 |
| Top 10 Weight | 37.8% | 12.5%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | May 5, 2011 |
Volatility and max drawdown are measured over the window both funds cover: May 5, 2011 to Sep 17, 2026 (15.4 years).
IVV vs SPLV 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 15.4 years both funds cover.
IVV vs SPLV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco S&P 500 Low Volatility ETF (SPLV) is an ETF from Invesco (US). Over the past year IVV returned +17.04% while SPLV returned +2.89%. Year to date, IVV is up 12.27% versus a gain of 4.13% for SPLV.
Over three years, IVV compounded at +21.24% per year against +8.29% for SPLV; over five years the annualized figures are +13.08% and +5.34% respectively. Across the full 15-year window we track, IVV has the edge at +12.57% annualized vs +8.10%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 11.6% for SPLV. 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 -33.9% for IVV and -36.6% for SPLV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 SPLV charges 0.25%. On a $10,000 position that is $3 vs $25 annually, a gap of $22 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.18% for SPLV.
Holdings Overlap
17.2% of IVV's money is in holdings SPLV also owns. 96.8% of SPLV's money is in holdings IVV also owns.
Most of SPLV is already inside IVV. Owning both mostly buys the same companies twice.
97 positions in common, counted across the 490 positions we hold weights for in IVV and 101 in SPLV, against full books of 508 and 111.
What only one of them owns
Our book lists 3 positions for SPLV that do not appear in our book for IVV (2.2% of the fund), and 385 for IVV that do not appear in SPLV (81.4%).
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.
Top Shared Holdings
| Stock | Weight in IVV | Weight in SPLV | Difference |
|---|---|---|---|
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.39% | 1.32% | 0.07% |
| JPMJpmorgan Chase | 1.44% | 0.99% | 0.45% |
| JNJJohnson & Johnson - Common | 0.97% | 1.24% | 0.27% |
| VVisa Inc Class A | 0.95% | 0.97% | 0.02% |
| KOCoca Cola Co. | 0.52% | 1.23% | 0.71% |
| MAMastercard Inc | 0.72% | 0.98% | 0.26% |
| BACBank of America Corp.: Financials | 0.61% | 1.00% | 0.39% |
| COSTCostco Wholesale Corp. | 0.63% | 0.96% | 0.33% |
| PGProcter & Gamble Company | 0.51% | 1.05% | 0.54% |
| CVXChevron Corp | 0.58% | 0.88% | 0.30% |
96.8% of SPLV is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or SPLV?
IVV has an expense ratio of 0.03% while SPLV charges 0.25%. IVV is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, IVV or SPLV?
Over the past year IVV returned +17.04% vs +2.89% for SPLV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), IVV annualized +12.57% vs +8.10% for SPLV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or SPLV?
IVV has been the more volatile fund at 14.3% annualized versus 11.6% for SPLV. Worst drawdown: IVV -33.9% vs SPLV -36.6%.
Should I hold both IVV and SPLV?
IVV and SPLV have a monthly-return correlation of 0.74, 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 SPLV?
96.8% of SPLV's money is in holdings IVV also owns. 96.8% of SPLV's is in holdings IVV also owns. They hold 97 positions in common, counted across the 490 positions we hold weights for in IVV and 101 in SPLV.
Which pays a higher dividend, IVV or SPLV?
IVV yields 1.06% while SPLV yields 2.18%, so SPLV currently pays the higher dividend yield.
Is SPLV better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. SPLV is less concentrated, with 12.5% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.