IVV vs TCAF
iShares Core S&P 500 ETF vs T. Rowe Price Capital Appreciation Equity ETF
Which is better, IVV or TCAF?
Nearly the same fund. IVV costs less.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 38.7%.
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 | TCAF |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.31% |
| AUM | $876.4B | $8.6B |
| Dividend Yield | 1.06% | 0.47% |
| Holdings | 508 | 105 |
| YTD Return | +12.39%Best | +10.83% |
| 1Y Return | +16.61%Best | +14.24% |
| 3Y Return (annualized) | +21.38%Best | +18.38% |
| 5Y Return (annualized) | +13.51% | - |
| Volatility (annualized) | 12.7% | 12.2%Best |
| Max Drawdown | -18.8% | -16.6%Best |
| $10,000 over 3.3 years | $18,146Best | $16,760 |
| Top 10 Weight | 37.8%Best | 38.7% |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Sep 18, 2026 (3.3 years).
IVV vs TCAF 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 3.3 years both funds cover.
IVV vs TCAF Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and T. Rowe Price Capital Appreciation Equity ETF (TCAF) is an ETF from T.Rowe Price. Over the past year IVV returned +16.61% while TCAF returned +14.24%. Year to date, IVV is up 12.39% versus a gain of 10.83% for TCAF.
Over three years, IVV compounded at +21.38% per year against +18.38% for TCAF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.7% 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 -18.8% for IVV and -16.6% for TCAF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 1.06% against 0.47% for TCAF.
Holdings Overlap
46.5% of IVV's money is in holdings TCAF also owns. 77.5% of TCAF's money is in holdings IVV also owns.
Most of TCAF is already inside IVV. Owning both mostly buys the same companies twice.
62 positions in common, counted across the 490 positions we hold weights for in IVV and 98 in TCAF, against full books of 508 and 105.
What only one of them owns
Our book lists 27 positions for TCAF that do not appear in our book for IVV (9.9% of the fund), and 420 for IVV that do not appear in TCAF (52.1%).
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 TCAF | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.07% | 5.44% | 2.63% |
| MSFTMicrosoft Corp | 5.69% | 6.16% | 0.47% |
| AAPLApple, Inc | 7.02% | 4.66% | 2.36% |
| AMZNAmazon.Com Inc | 3.84% | 5.15% | 1.31% |
| GOOGLAlphabet Inc,class A | 3.00% | 3.19% | 0.19% |
| AVGOBroadcom Inc | 2.65% | 3.32% | 0.67% |
| METAMeta Platforms Inc | 1.90% | 3.10% | 1.20% |
| GOOGAlphabet Inc | 2.39% | 1.65% | 0.74% |
| MUMicron Technology, Inc. | 1.63% | 1.32% | 0.31% |
| JPMJpmorgan Chase | 1.44% | 1.45% | 0.01% |
77.5% of TCAF 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 TCAF?
IVV has an expense ratio of 0.03% while TCAF charges 0.31%. IVV is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, IVV or TCAF?
Over the past year IVV returned +16.61% vs +14.24% for TCAF, so IVV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TCAF?
IVV has been the more volatile fund at 12.7% annualized versus 12.2% for TCAF. Worst drawdown: IVV -18.8% 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. 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 TCAF?
77.5% of TCAF's money is in holdings IVV also owns. 77.5% of TCAF's is in holdings IVV also owns. They hold 62 positions in common, counted across the 490 positions we hold weights for in IVV and 98 in TCAF.
Which pays a higher dividend, IVV or TCAF?
IVV yields 1.06% while TCAF yields 0.47%, so IVV currently pays the higher dividend yield.
Is TCAF better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 38.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.