IVV vs TOPC
iShares Core S&P 500 ETF vs iShares S&P 500 3% Capped ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. TOPC offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | IVV | TOPC | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.09% | |
| AUM | $907.0B | $32M | |
| Dividend Yield | 1.10% | 1.06% | |
| Holdings | 508 | 509 | |
| YTD Return | +13.51% | +13.74% | |
| 1Y Return | +20.65% | +20.28% | |
| 3Y Return (annualized) | +21.94% | - | |
| 5Y Return (annualized) | +12.95% | - | |
| Volatility (annualized) | 15.1% | 11.1% | |
| Max Drawdown | -56.5% | -8.0% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Apr 15, 2025 |
IVV vs TOPC Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and iShares S&P 500 3% Capped ETF (TOPC) is a ETF from iShares by BlackRock (US). Over the past year IVV returned +20.65% while TOPC returned +20.28%. Year to date, IVV is up 13.51% versus a gain of 13.74% for TOPC.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 11.1% for TOPC. 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 -8.0% for TOPC. 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 0.97. 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 TOPC charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 1.06% for TOPC.
Holdings Overlap
IVV and TOPC share 484 holdings out of 513 unique holdings combined, representing a 82.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, IVV or TOPC?
IVV has an expense ratio of 0.03% while TOPC charges 0.09%. IVV is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, IVV or TOPC?
Over the past year IVV returned +20.65% vs +20.28% for TOPC, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +7.02% vs +31.56% for TOPC. Past performance does not guarantee future results.
Which is riskier, IVV or TOPC?
IVV has been the more volatile fund at 15.1% annualized versus 11.1% for TOPC. Worst drawdown: IVV -56.5% vs TOPC -8.0%.
Should I hold both IVV and TOPC?
IVV and TOPC have a monthly-return correlation of 0.97, 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 TOPC?
IVV and TOPC share 484 common holdings with a 82.1% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, IVV or TOPC?
IVV yields 1.10% while TOPC yields 1.06%, so IVV currently pays the higher dividend yield.
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