IVV vs TCV
iShares Core S&P 500 ETF vs Towle Value ETF
Quick Verdict
IVV has a lower expense ratio. TCV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | TCV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.85% | |
| AUM | $865.2B | $209M | |
| Dividend Yield | 1.09% | 0.58% | |
| Holdings | 508 | 43 | |
| YTD Return | +14.50% | +30.40% | |
| 1Y Return | +22.02% | +39.11% | |
| 3Y Return (annualized) | +21.80% | - | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.1% | 15.8% | |
| Max Drawdown | -56.5% | -12.2% | |
| Fund Family | iShares by BlackRock (US) | Towle | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jul 16, 2025 |
IVV vs TCV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Towle Value ETF (TCV) is a ETF from Towle. Over the past year IVV returned +22.02% while TCV returned +39.11%. Year to date, IVV is up 14.50% versus a gain of 30.40% for TCV.
Risk: Volatility and Drawdowns
TCV has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -12.2% for TCV. 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while TCV charges 0.85%. On a $10,000 position that is $3 vs $85 annually, a gap of $82 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.58% for TCV.
Holdings Overlap
IVV and TCV share 1 holdings out of 546 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in TCV | Difference |
|---|---|---|---|
| BG | 0.03% | 2.25% | 2.22% |
Frequently Asked Questions
Which is cheaper, IVV or TCV?
IVV has an expense ratio of 0.03% while TCV charges 0.85%. IVV is the cheaper option. On a $10,000 investment, that is $82 per year of difference.
Which performed better, IVV or TCV?
Over the past year IVV returned +22.02% vs +39.11% for TCV, so TCV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +7.07% vs +34.51% for TCV. Past performance does not guarantee future results.
Which is riskier, IVV or TCV?
TCV has been the more volatile fund at 15.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs TCV -12.2%.
Should I hold both IVV and TCV?
IVV and TCV have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TCV?
IVV and TCV share 1 common holdings with a 0.0% weight overlap. Combined, they hold 546 unique securities.
Which pays a higher dividend, IVV or TCV?
IVV yields 1.09% while TCV yields 0.58%, so IVV currently pays the higher dividend yield.
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