IVV vs TAX
iShares Core S&P 500 ETF vs Cambria Tax Aware ETF
Which is better, IVV or TAX?
IVV has been ahead.
IVV has a lower expense ratio. IVV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. TAX is less concentrated, with 15.9% of the fund in its ten largest positions against 37.9%.
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 | TAX |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.54% |
| AUM | $876.4B | $25M |
| Dividend Yield | 1.06% | 0.32% |
| Holdings | 508 | 101 |
| YTD Return | +11.57%Best | +6.01% |
| 1Y Return | +17.57%Best | +11.20% |
| 3Y Return (annualized) | +20.71% | - |
| 5Y Return (annualized) | +12.80% | - |
| Volatility (annualized) | 12.7%Best | 12.9% |
| Max Drawdown | -18.8%Best | -18.9% |
| $10,000 over 1.7 years | $13,147Best | $12,497 |
| Top 10 Weight | 37.9% | 15.9%Best |
| Fund Family | iShares by BlackRock (US) | Cambria Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Dec 18, 2024 |
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Dec 18, 2024 to Sep 10, 2026 (1.7 years).
IVV vs TAX 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 1.7 years both funds cover.
IVV vs TAX Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Cambria Tax Aware ETF (TAX) is an ETF from Cambria Investment Management. Over the past year IVV returned +17.57% while TAX returned +11.20%. Year to date, IVV is up 11.57% versus a gain of 6.01% for TAX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAX has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 12.7% 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 -18.8% for IVV and -18.9% for TAX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. 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 TAX charges 0.54%. On a $10,000 position that is $3 vs $54 annually, a gap of $51 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.32% for TAX.
Holdings Overlap
11.0% of IVV's money is in holdings TAX also owns. 42.6% of TAX's money is in holdings IVV also owns.
The two portfolios partly overlap.
42 positions in common, counted across the 505 positions we hold weights for in IVV and 98 in TAX, against full books of 508 and 101.
What only one of them owns
Our book lists 55 positions for TAX that do not appear in our book for IVV (55.2% of the fund), and 453 for IVV that do not appear in TAX (88.3%).
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 TAX | Difference |
|---|---|---|---|
| GOOGLAlphabet A Usd 0.001 | 3.19% | 0.95% | 2.24% |
| AMDAdvanced Micro Devices Inc. | 1.18% | 1.79% | 0.61% |
| METAMeta Platforms, Inc. | 1.94% | 0.73% | 1.21% |
| LLYEli Lilly & Co. | 1.39% | 1.06% | 0.33% |
| FLEXFlex Ltd. Ordinary Shares | 0.07% | 1.56% | 1.49% |
| GEVGE Vernova, LLC | 0.41% | 1.20% | 0.79% |
| CHTRCharter Communications, Inc., Class A | 0.02% | 1.54% | 1.52% |
| FFIVF5 Networks Inc. | 0.03% | 1.36% | 1.33% |
| FIXComfort Systems USA Inc. | 0.09% | 1.23% | 1.14% |
| TMOThermo Fisher Scientific Inc | 0.32% | 0.98% | 0.66% |
42.6% of TAX 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 TAX?
IVV has an expense ratio of 0.03% while TAX charges 0.54%. IVV is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, IVV or TAX?
Over the past year IVV returned +17.57% vs +11.20% for TAX, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +17.46% vs +14.01% for TAX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TAX?
TAX has been the more volatile fund at 12.9% annualized versus 12.7% for IVV. Worst drawdown: IVV -18.8% vs TAX -18.9%.
Should I hold both IVV and TAX?
IVV and TAX have a monthly-return correlation of 0.91, 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 TAX?
42.6% of TAX's money is in holdings IVV also owns. 42.6% of TAX's is in holdings IVV also owns. They hold 42 positions in common, counted across the 505 positions we hold weights for in IVV and 98 in TAX.
Which pays a higher dividend, IVV or TAX?
IVV yields 1.06% while TAX yields 0.32%, so IVV currently pays the higher dividend yield.
Is TAX better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. TAX is less concentrated, with 15.9% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.