IVV vs TCAF
iShares Core S&P 500 ETF vs T. Rowe Price Capital Appreciation Equity ETF
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 | TCAF | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.31% | |
| AUM | $907.0B | $8.3B | |
| Dividend Yield | 1.10% | 0.47% | |
| Holdings | 508 | 347 | |
| YTD Return | +13.22% | +11.59% | |
| 1Y Return | +21.62% | +16.18% | |
| 3Y Return (annualized) | +22.17% | +19.12% | |
| 5Y Return (annualized) | +13.42% | - | |
| Volatility (annualized) | 15.1% | 12.2% | |
| Max Drawdown | -56.5% | -16.6% | |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jun 14, 2023 |
IVV vs TCAF Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and T. Rowe Price Capital Appreciation Equity ETF (TCAF) is a ETF from T.Rowe Price. Over the past year IVV returned +21.62% while TCAF returned +16.18%. Year to date, IVV is up 13.22% versus a gain of 11.59% for TCAF.
Over three years, IVV compounded at +22.17% per year against +19.12% for TCAF. Across the full 3-year window we track, TCAF has the edge at +17.67% annualized vs +7.02%. 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 12.2% for TCAF. 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 -16.6% for TCAF. 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 0.98. 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 TCAF charges 0.31%. On a $10,000 position that is $3 vs $31 annually, a gap of $28 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.47% for TCAF.
Holdings Overlap
IVV and TCAF share 65 holdings out of 541 unique holdings combined, representing a 39.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or TCAF?
IVV has an expense ratio of 0.03% while TCAF charges 0.31%. IVV is the cheaper option. On a $10,000 investment, that is $28 per year of difference.
Which performed better, IVV or TCAF?
Over the past year IVV returned +21.62% vs +16.18% for TCAF, so IVV leads on 1-year performance. Over the longest common window we track (3 years), IVV annualized +7.02% vs +17.67% for TCAF. Past performance does not guarantee future results.
Which is riskier, IVV or TCAF?
IVV has been the more volatile fund at 15.1% annualized versus 12.2% for TCAF. Worst drawdown: IVV -56.5% vs TCAF -16.6%.
Should I hold both IVV and TCAF?
IVV and TCAF have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and TCAF?
IVV and TCAF share 65 common holdings with a 39.3% weight overlap. Combined, they hold 541 unique securities.
Which pays a higher dividend, IVV or TCAF?
IVV yields 1.10% while TCAF yields 0.47%, so IVV currently pays the higher dividend yield.
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