IVV vs SPXU
iShares Core S&P 500 ETF vs ProShares UltraPro Short S&P500
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | SPXU | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.90% | |
| AUM | $907.0B | $365M | |
| Dividend Yield | 1.10% | 6.79% | |
| Holdings | 508 | 19 | |
| YTD Return | +14.29% | -31.65% | |
| 1Y Return | +21.79% | -41.62% | |
| 3Y Return (annualized) | +22.19% | -43.03% | |
| 5Y Return (annualized) | +13.28% | -33.59% | |
| Volatility (annualized) | 15.1% | 39.7% | |
| Max Drawdown | -56.5% | -100.0% | |
| Fund Family | iShares by BlackRock (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jun 23, 2009 |
IVV vs SPXU Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and ProShares UltraPro Short S&P500 (SPXU) is a ETF from ProShares. Over the past year IVV returned +21.79% while SPXU returned -41.62%. Year to date, IVV is up 14.29% versus a loss of 31.65% for SPXU.
Over three years, IVV compounded at +22.19% per year against -43.03% for SPXU; over five years the annualized figures are +13.28% and -33.59% respectively. Across the full 17-year window we track, IVV has the edge at +7.06% annualized vs -42.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXU has been the more volatile fund, with annualized monthly volatility of 39.7% 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 -100.0% for SPXU. 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 -0.96. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while SPXU charges 0.90%. On a $10,000 position that is $3 vs $90 annually, a gap of $87 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 6.79% for SPXU.
Holdings Overlap
IVV and SPXU share 0 holdings out of 506 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 SPXU?
IVV has an expense ratio of 0.03% while SPXU charges 0.90%. IVV is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, IVV or SPXU?
Over the past year IVV returned +21.79% vs -41.62% for SPXU, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.06% vs -42.78% for SPXU. Past performance does not guarantee future results.
Which is riskier, IVV or SPXU?
SPXU has been the more volatile fund at 39.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SPXU -100.0%.
Should I hold both IVV and SPXU?
IVV and SPXU have a monthly-return correlation of -0.96, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SPXU?
IVV and SPXU share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVV or SPXU?
IVV yields 1.10% while SPXU yields 6.79%, so SPXU currently pays the higher dividend yield.
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