IVV vs TVAL
iShares Core S&P 500 ETF vs T. Rowe Price Value ETF
Which is better, IVV or TVAL?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. IVV led over 3Y and the full window, TVAL over 1Y. TVAL is less concentrated, with 29.1% of the fund in its ten largest positions against 37.8%.
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 | TVAL |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.33% |
| AUM | $876.4B | $1.0B |
| Dividend Yield | 1.06% | 0.95% |
| Holdings | 508 | 155 |
| YTD Return | +11.51% | +20.32%Best |
| 1Y Return | +15.96% | +28.25%Best |
| 3Y Return (annualized) | +21.01%Best | +19.46% |
| 5Y Return (annualized) | +12.66% | - |
| Volatility (annualized) | 12.7% | 12.3%Best |
| Max Drawdown | -18.8% | -15.8%Best |
| $10,000 over 3.3 years | $18,032Best | $17,388 |
| Top 10 Weight | 37.8% | 29.1%Best |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| 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 15, 2026 (3.3 years).
IVV vs TVAL 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 TVAL Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and T. Rowe Price Value ETF (TVAL) is an ETF from T.Rowe Price. Over the past year IVV returned +15.96% while TVAL returned +28.25%. Year to date, IVV is up 11.51% versus a gain of 20.32% for TVAL.
Over three years, IVV compounded at +21.01% per year against +19.46% for TVAL.
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 12.3% for TVAL. 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 -15.8% for TVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while TVAL charges 0.33%. On a $10,000 position that is $3 vs $33 annually, a gap of $30 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.95% for TVAL.
Holdings Overlap
48.8% of IVV's money is in holdings TVAL also owns. 90.0% of TVAL's money is in holdings IVV also owns.
Most of TVAL is already inside IVV. Owning both mostly buys the same companies twice.
125 positions in common, counted across the 490 positions we hold weights for in IVV and 151 in TVAL, against full books of 508 and 155.
What only one of them owns
Our book lists 17 positions for TVAL that do not appear in our book for IVV (4.9% of the fund), and 357 for IVV that do not appear in TVAL (49.9%).
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 TVAL | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.02% | 4.94% | 2.08% |
| MSFTMicrosoft Corp | 5.69% | 5.17% | 0.52% |
| AMZNAmazon.Com Inc | 3.84% | 6.73% | 2.89% |
| JPMJpmorgan Chase | 1.44% | 1.64% | 0.20% |
| XOMExxon Mobil Corp. | 1.01% | 1.96% | 0.95% |
| JNJJohnson & Johnson - Common | 0.97% | 1.84% | 0.87% |
| GOOGAlphabet Inc | 2.39% | 0.35% | 2.04% |
| METAMeta Platforms Inc | 1.90% | 0.59% | 1.31% |
| PGProcter & Gamble Company | 0.51% | 1.57% | 1.06% |
| COPConocophillips Common Stock USD 0.01 | 0.24% | 1.83% | 1.59% |
90.0% of TVAL 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 TVAL?
IVV has an expense ratio of 0.03% while TVAL charges 0.33%. IVV is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, IVV or TVAL?
Over the past year IVV returned +15.96% vs +28.25% for TVAL, so TVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TVAL?
IVV has been the more volatile fund at 12.7% annualized versus 12.3% for TVAL. Worst drawdown: IVV -18.8% vs TVAL -15.8%.
Should I hold both IVV and TVAL?
IVV and TVAL have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and TVAL?
90.0% of TVAL's money is in holdings IVV also owns. 90.0% of TVAL's is in holdings IVV also owns. They hold 125 positions in common, counted across the 490 positions we hold weights for in IVV and 151 in TVAL.
Which pays a higher dividend, IVV or TVAL?
IVV yields 1.06% while TVAL yields 0.95%, so IVV currently pays the higher dividend yield.
Is TVAL better than IVV?
IVV has a lower expense ratio. IVV led over 3Y and the full window, TVAL over 1Y. TVAL is less concentrated, with 29.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.