IVV vs TWN
iShares Core S&P 500 ETF vs Taiwan Fund Inc.
Which is better, IVV or TWN?
TWN has been ahead.
IVV has a lower expense ratio. TWN led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 73.2%.
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 | TWN |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.96% |
| AUM | $876.4B | $311M |
| Dividend Yield | 1.06% | 6.18% |
| Holdings | 508 | 30 |
| YTD Return | +12.27% | +83.32%Best |
| 1Y Return | +17.04% | +108.75%Best |
| 3Y Return (annualized) | +21.24% | +64.17%Best |
| 5Y Return (annualized) | +13.08% | +32.10%Best |
| Volatility (annualized) | 15.1%Best | 29.5% |
| Max Drawdown | -56.5%Best | -64.5% |
| $10,000 over 5 years | $18,490 | $40,227Best |
| Top 10 Weight | 37.8%Best | 73.2% |
| Fund Family | iShares by BlackRock (US) | The Taiwan Fund |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Dec 23, 1986 |
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 17, 2026 (26.3 years).
IVV vs TWN 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 26.3 years both funds cover.
IVV vs TWN Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Taiwan Fund Inc. (TWN) is an ETF from The Taiwan Fund. Over the past year IVV returned +17.04% while TWN returned +108.75%. Year to date, IVV is up 12.27% versus a gain of 83.32% for TWN.
Over three years, IVV compounded at +21.24% per year against +64.17% for TWN; over five years the annualized figures are +13.08% and +32.10% respectively. Across the full 26-year window we track, TWN has the edge at +11.11% annualized vs +6.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TWN has been the more volatile fund, with annualized monthly volatility of 29.5% 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 -64.5% for TWN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while TWN charges 0.96%. On a $10,000 position that is $3 vs $96 annually, a gap of $93 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 6.18% for TWN.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 30 in TWN, totalling 99.3% and 98.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 92 days apart, IVV as of Aug 31, 2026 and TWN as of May 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 30 in TWN, against full books of 508 and 30.
What only one of them owns
Our book lists 0 positions for TWN that do not appear in our book for IVV (0.0% of the fund), and 482 for IVV that do not appear in TWN (98.6%).
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.
You are not choosing between two funds in isolation.
Whichever of IVV and TWN you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or TWN?
IVV has an expense ratio of 0.03% while TWN charges 0.96%. IVV is the cheaper option, by $93 a year on a $10,000 investment.
Which performed better, IVV or TWN?
Over the past year IVV returned +17.04% vs +108.75% for TWN, so TWN leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.96% vs +11.11% for TWN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TWN?
TWN has been the more volatile fund at 29.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs TWN -64.5%.
Should I hold both IVV and TWN?
IVV and TWN have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or TWN?
IVV yields 1.06% while TWN yields 6.18%, so TWN currently pays the higher dividend yield.
Is TWN better than IVV?
IVV has a lower expense ratio. TWN led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 73.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.