IVV vs TBLL
iShares Core S&P 500 ETF vs Invesco Short Term Treasury ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | TBLL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.08% | |
| AUM | $865.2B | $2.6B | |
| Dividend Yield | 1.09% | 3.76% | |
| Holdings | 508 | 86 | |
| YTD Return | +13.72% | +2.11% | |
| 1Y Return | +21.64% | +3.79% | |
| 3Y Return (annualized) | +21.55% | +4.56% | |
| 5Y Return (annualized) | +13.27% | +3.50% | |
| Volatility (annualized) | 15.1% | 0.8% | |
| Max Drawdown | -56.5% | -1.0% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jan 10, 2017 |
IVV vs TBLL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Short Term Treasury ETF (TBLL) is a ETF from Invesco (US). Over the past year IVV returned +21.64% while TBLL returned +3.79%. Year to date, IVV is up 13.72% versus a gain of 2.11% for TBLL.
Over three years, IVV compounded at +21.55% per year against +4.56% for TBLL; over five years the annualized figures are +13.27% and +3.50% respectively. Across the full 10-year window we track, IVV has the edge at +7.04% annualized vs +1.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 0.8% for TBLL. 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 -1.0% for TBLL. 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 0.00. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while TBLL charges 0.08%. On a $10,000 position that is $3 vs $8 annually, a gap of $5 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 3.76% for TBLL.
Holdings Overlap
IVV and TBLL share 0 holdings out of 549 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 TBLL?
IVV has an expense ratio of 0.03% while TBLL charges 0.08%. IVV is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, IVV or TBLL?
Over the past year IVV returned +21.64% vs +3.79% for TBLL, so IVV leads on 1-year performance. Over the longest common window we track (10 years), IVV annualized +7.04% vs +1.84% for TBLL. Past performance does not guarantee future results.
Which is riskier, IVV or TBLL?
IVV has been the more volatile fund at 15.1% annualized versus 0.8% for TBLL. Worst drawdown: IVV -56.5% vs TBLL -1.0%.
Should I hold both IVV and TBLL?
IVV and TBLL have a monthly-return correlation of 0.00, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TBLL?
IVV and TBLL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 549 unique securities.
Which pays a higher dividend, IVV or TBLL?
IVV yields 1.09% while TBLL yields 3.76%, so TBLL currently pays the higher dividend yield.
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