IVV vs TMSL
iShares Core S&P 500 ETF vs T. Rowe Price Small-Mid Cap ETF
Quick Verdict
IVV has a lower expense ratio. TMSL delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | TMSL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.55% | |
| AUM | $907.0B | $3.0B | |
| Dividend Yield | 1.10% | 0.47% | |
| Holdings | 508 | 288 | |
| YTD Return | +12.28% | +18.91% | |
| 1Y Return | +20.94% | +29.10% | |
| 3Y Return (annualized) | +21.81% | +20.16% | |
| 5Y Return (annualized) | +13.05% | - | |
| Volatility (annualized) | 15.1% | 16.7% | |
| Max Drawdown | -56.5% | -24.7% | |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jun 14, 2023 |
IVV vs TMSL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and T. Rowe Price Small-Mid Cap ETF (TMSL) is a ETF from T.Rowe Price. Over the past year IVV returned +20.94% while TMSL returned +29.10%. Year to date, IVV is up 12.28% versus a gain of 18.91% for TMSL.
Over three years, IVV compounded at +21.81% per year against +20.16% for TMSL. Across the full 3-year window we track, TMSL has the edge at +18.86% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 16.7% 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 -24.7% for TMSL. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while TMSL charges 0.55%. On a $10,000 position that is $3 vs $55 annually, a gap of $52 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.47% for TMSL.
Holdings Overlap
IVV and TMSL share 38 holdings out of 752 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or TMSL?
IVV has an expense ratio of 0.03% while TMSL charges 0.55%. IVV is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, IVV or TMSL?
Over the past year IVV returned +20.94% vs +29.10% for TMSL, so TMSL leads on 1-year performance. Over the longest common window we track (3 years), IVV annualized +6.98% vs +18.86% for TMSL. Past performance does not guarantee future results.
Which is riskier, IVV or TMSL?
TMSL has been the more volatile fund at 16.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs TMSL -24.7%.
Should I hold both IVV and TMSL?
IVV and TMSL have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TMSL?
IVV and TMSL share 38 common holdings with a 1.1% weight overlap. Combined, they hold 752 unique securities.
Which pays a higher dividend, IVV or TMSL?
IVV yields 1.10% while TMSL yields 0.47%, so IVV currently pays the higher dividend yield.
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