IVV vs SPXN
iShares Core S&P 500 ETF vs ProShares S&P 500 Ex-Financials ETF
Which is better, IVV or SPXN?
Nearly the same fund. IVV costs less.
IVV has a lower expense ratio. SPXN led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 44.0%.
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 | SPXN |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $876.4B | $79M |
| Dividend Yield | 1.06% | 0.88% |
| Holdings | 508 | 397 |
| YTD Return | +11.51% | +12.58%Best |
| 1Y Return | +15.96% | +17.38%Best |
| 3Y Return (annualized) | +21.01% | +21.23%Best |
| 5Y Return (annualized) | +12.66% | +13.08%Best |
| Volatility (annualized) | 15.2%Best | 15.6% |
| Max Drawdown | -33.9% | -32.1%Best |
| $10,000 over 5 years | $18,149 | $18,490Best |
| Top 10 Weight | 37.8%Best | 44.0% |
| Fund Family | iShares by BlackRock (US) | ProShares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Sep 22, 2015 |
Volatility and max drawdown are measured over the window both funds cover: Sep 24, 2015 to Sep 15, 2026 (11 years).
IVV vs SPXN 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 11 years both funds cover.
IVV vs SPXN Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and ProShares S&P 500 Ex-Financials ETF (SPXN) is an ETF from ProShares. Over the past year IVV returned +15.96% while SPXN returned +17.38%. Year to date, IVV is up 11.51% versus a gain of 12.58% for SPXN.
Over three years, IVV compounded at +21.01% per year against +21.23% for SPXN; over five years the annualized figures are +12.66% and +13.08% respectively. Across the full 11-year window we track, SPXN has the edge at +14.55% annualized vs +14.00%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXN has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.2% 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 -32.1% for SPXN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while SPXN charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.88% for SPXN.
Holdings Overlap
84.2% of IVV's money is in holdings SPXN also owns. 98.1% of SPXN's money is in holdings IVV also owns.
Most of SPXN is already inside IVV. Owning both mostly buys the same companies twice.
373 positions in common, counted across the 490 positions we hold weights for in IVV and 397 in SPXN, against full books of 508 and 397.
What only one of them owns
Our book lists 17 positions for SPXN that do not appear in our book for IVV (1.2% of the fund), and 113 for IVV that do not appear in SPXN (14.7%).
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 SPXN | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.07% | 9.40% | 1.33% |
| AAPLApple, Inc | 7.02% | 8.18% | 1.16% |
| MSFTMicrosoft Corp | 5.69% | 6.63% | 0.94% |
| AMZNAmazon.Com Inc | 3.84% | 4.47% | 0.63% |
| GOOGLAlphabet Inc,class A | 3.00% | 3.50% | 0.50% |
| AVGOBroadcom Inc | 2.65% | 3.08% | 0.43% |
| GOOGAlphabet Inc | 2.39% | 2.79% | 0.40% |
| METAMeta Platforms Inc | 1.90% | 2.21% | 0.31% |
| MUMicron Technology, Inc. | 1.63% | 1.90% | 0.27% |
| TSLATesla Inc | 1.56% | 1.82% | 0.26% |
98.1% of SPXN 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 SPXN?
IVV has an expense ratio of 0.03% while SPXN charges 0.09%. IVV is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, IVV or SPXN?
Over the past year IVV returned +15.96% vs +17.38% for SPXN, so SPXN leads on 1-year performance. Over the longest common window we track (11 years), IVV annualized +14.00% vs +14.55% for SPXN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or SPXN?
SPXN has been the more volatile fund at 15.6% annualized versus 15.2% for IVV. Worst drawdown: IVV -33.9% vs SPXN -32.1%.
Should I hold both IVV and SPXN?
IVV and SPXN have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and SPXN?
98.1% of SPXN's money is in holdings IVV also owns. 98.1% of SPXN's is in holdings IVV also owns. They hold 373 positions in common, counted across the 490 positions we hold weights for in IVV and 397 in SPXN.
Which pays a higher dividend, IVV or SPXN?
IVV yields 1.06% while SPXN yields 0.88%, so IVV currently pays the higher dividend yield.
Is SPXN better than IVV?
IVV has a lower expense ratio. SPXN led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 44.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.