IVV vs TLT
iShares Core S&P 500 ETF vs iShares 20+ Year Treasury Bond 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 | TLT | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.15% | |
| AUM | $907.0B | $45.8B | |
| Dividend Yield | 1.10% | 4.72% | |
| Holdings | 508 | 48 | |
| YTD Return | +12.71% | -3.20% | |
| 1Y Return | +21.89% | -0.70% | |
| 3Y Return (annualized) | +22.08% | +0.32% | |
| 5Y Return (annualized) | +12.96% | -8.09% | |
| Volatility (annualized) | 15.1% | 13.4% | |
| Max Drawdown | -56.5% | -48.7% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jul 22, 2002 |
IVV vs TLT Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and iShares 20+ Year Treasury Bond ETF (TLT) is a ETF from iShares by BlackRock (US). Over the past year IVV returned +21.89% while TLT returned -0.70%. Year to date, IVV is up 12.71% versus a loss of 3.20% for TLT.
Over three years, IVV compounded at +22.08% per year against +0.32% for TLT; over five years the annualized figures are +12.96% and -8.09% respectively. Across the full 24-year window we track, IVV has the edge at +7.00% annualized vs +0.79%. 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 13.4% for TLT. 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 -48.7% for TLT. 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 -0.10. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while TLT charges 0.15%. On a $10,000 position that is $3 vs $15 annually, a gap of $12 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 4.72% for TLT.
Holdings Overlap
IVV and TLT share 1 holdings out of 548 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in TLT | Difference |
|---|---|---|---|
| XTSLA | 0.15% | 0.43% | 0.28% |
Frequently Asked Questions
Which is cheaper, IVV or TLT?
IVV has an expense ratio of 0.03% while TLT charges 0.15%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, IVV or TLT?
Over the past year IVV returned +21.89% vs -0.70% for TLT, so IVV leads on 1-year performance. Over the longest common window we track (24 years), IVV annualized +7.00% vs +0.79% for TLT. Past performance does not guarantee future results.
Which is riskier, IVV or TLT?
IVV has been the more volatile fund at 15.1% annualized versus 13.4% for TLT. Worst drawdown: IVV -56.5% vs TLT -48.7%.
Should I hold both IVV and TLT?
IVV and TLT have a monthly-return correlation of -0.10, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TLT?
IVV and TLT share 1 common holdings with a 0.1% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, IVV or TLT?
IVV yields 1.10% while TLT yields 4.72%, so TLT currently pays the higher dividend yield.
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