IVV vs SPVU
iShares Core S&P 500 ETF vs Invesco S&P 500 Enhanced Value ETF
Which is better, IVV or SPVU?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over 1Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 41.4%.
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 | SPVU |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.13% |
| AUM | $876.4B | $111M |
| Dividend Yield | 1.06% | 2.46% |
| Holdings | 508 | 101 |
| Volatility (annualized) | 15.0%Best | 20.1% |
| Max Drawdown | -33.9%Best | -51.7% |
| $10,000 over 10.4 years | $36,879Best | $30,963 |
| Top 10 Weight | 37.8%Best | 41.4% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | Oct 9, 2015 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 210 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Sep 18, 2026 and SPVU through Feb 20, 2026.
Volatility and max drawdown, and the $10,000 over 10.4 years row, are measured over the window both funds cover: Oct 9, 2015 to Feb 20, 2026 (10.4 years).
Risk: Volatility and Drawdowns
SPVU has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 15.0% 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 -33.9% for IVV and -51.7% for SPVU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while SPVU charges 0.13%. On a $10,000 position that is $3 vs $13 annually, a gap of $10 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.46% for SPVU.
Holdings Overlap
10.6% of IVV's money is in holdings SPVU also owns. 97.3% of SPVU's money is in holdings IVV also owns.
Most of SPVU is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 335 days apart, IVV as of Aug 31, 2026 and SPVU as of Sep 30, 2025, so some of the difference between them is the time between the two reports rather than the funds.
90 positions in common, counted across the 490 positions we hold weights for in IVV and 100 in SPVU, against full books of 508 and 101.
What only one of them owns
Our book lists 10 positions for SPVU that do not appear in our book for IVV (2.7% of the fund), and 393 for IVV that do not appear in SPVU (88.0%).
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 SPVU | Difference |
|---|---|---|---|
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.39% | 4.80% | 3.41% |
| UNHUnitedhealth Group Incorporated | 0.53% | 5.59% | 5.06% |
| XOMExxon Mobil Corp. | 1.01% | 4.87% | 3.86% |
| BACBank of America Corp.: Financials | 0.61% | 5.25% | 4.64% |
| CVXChevron Corp | 0.58% | 3.96% | 3.38% |
| WFCWells Fargo & Co. | 0.40% | 4.10% | 3.70% |
| CCitigroup Inc. | 0.34% | 4.03% | 3.69% |
| VZVerizon Communic | 0.32% | 3.22% | 2.90% |
| CVSCvs Corp | 0.18% | 2.96% | 2.78% |
| CMCSAComcast Corp-class A Cmcsa | 0.14% | 2.64% | 2.50% |
97.3% of SPVU 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 SPVU?
IVV has an expense ratio of 0.03% while SPVU charges 0.13%. IVV is the cheaper option, by $10 a year on a $10,000 investment.
Which is riskier, IVV or SPVU?
SPVU has been the more volatile fund at 20.1% annualized versus 15.0% for IVV. Worst drawdown: IVV -33.9% vs SPVU -51.7%.
Should I hold both IVV and SPVU?
IVV and SPVU have a monthly-return correlation of 0.81, 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 SPVU?
97.3% of SPVU's money is in holdings IVV also owns. 97.3% of SPVU's is in holdings IVV also owns. They hold 90 positions in common, counted across the 490 positions we hold weights for in IVV and 100 in SPVU.
Which pays a higher dividend, IVV or SPVU?
IVV yields 1.06% while SPVU yields 2.46%, so SPVU currently pays the higher dividend yield.
Is SPVU better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 41.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.