IVV vs UPGD
iShares Core S&P 500 ETF vs Invesco Bloomberg Analyst Rating Improvers ETF
Which is better, IVV or UPGD?
Large Cap Blend against Mid Cap Value.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. UPGD is less concentrated, with 25.1% 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 | UPGD |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.40% |
| AUM | $876.4B | $118M |
| Dividend Yield | 1.06% | 1.56% |
| Holdings | 508 | 52 |
| YTD Return | +13.32%Best | +9.28% |
| 1Y Return | +17.08%Best | +10.10% |
| 3Y Return (annualized) | +22.72%Best | +14.37% |
| 5Y Return (annualized) | +13.20%Best | +6.90% |
| Volatility (annualized) | 15.2%Best | 21.1% |
| Max Drawdown | -56.5%Best | -60.7% |
| $10,000 over 5 years | $18,588Best | $13,960 |
| Top 10 Weight | 37.8% | 25.1%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Value |
| Inception | May 15, 2000 | May 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: May 19, 2006 to Sep 23, 2026 (20.3 years).
IVV vs UPGD 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 20.3 years both funds cover.
IVV vs UPGD Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) is an ETF from Invesco (US). Over the past year IVV returned +17.08% while UPGD returned +10.10%. Year to date, IVV is up 13.32% versus a gain of 9.28% for UPGD.
Over three years, IVV compounded at +22.72% per year against +14.37% for UPGD; over five years the annualized figures are +13.20% and +6.90% respectively. Across the full 20-year window we track, IVV has the edge at +9.69% annualized vs +7.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPGD has been the more volatile fund, with annualized monthly volatility of 21.1% compared with 15.2% 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 -60.7% for UPGD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while UPGD charges 0.40%. On a $10,000 position that is $3 vs $40 annually, a gap of $37 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.56% for UPGD.
Holdings Overlap
5.4% of IVV's money is in holdings UPGD also owns. 90.0% of UPGD's money is in holdings IVV also owns.
Most of UPGD is already inside IVV. Owning both mostly buys the same companies twice.
44 positions in common, counted across the 490 positions we hold weights for in IVV and 50 in UPGD, against full books of 508 and 52.
What only one of them owns
Our book lists 5 positions for UPGD that do not appear in our book for IVV (8.6% of the fund), and 438 for IVV that do not appear in UPGD (93.2%).
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 UPGD | Difference |
|---|---|---|---|
| TSLATesla Inc | 1.56% | 1.68% | 0.12% |
| NTAPNetapp Inc | 0.06% | 2.96% | 2.90% |
| EXPEExpedia Group Inc (consumer Discretionary) | 0.05% | 2.77% | 2.72% |
| ABNBAirbnb Inc | 0.12% | 2.57% | 2.45% |
| ELEstee Lauder Cos., Inc. | 0.04% | 2.49% | 2.45% |
| MTDMettler-Toledo International Inc. | 0.04% | 2.47% | 2.43% |
| WSMWilliams-sonoma Inc | 0.04% | 2.41% | 2.37% |
| CTSHCognizant Technology Solutions Corp. Class A | 0.05% | 2.39% | 2.34% |
| INCYIncyte Corp. | 0.03% | 2.41% | 2.38% |
| IPInternational Paper Co. | 0.03% | 2.36% | 2.33% |
90.0% of UPGD 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 UPGD?
IVV has an expense ratio of 0.03% while UPGD charges 0.40%. IVV is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, IVV or UPGD?
Over the past year IVV returned +17.08% vs +10.10% for UPGD, so IVV leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +9.69% vs +7.79% for UPGD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or UPGD?
UPGD has been the more volatile fund at 21.1% annualized versus 15.2% for IVV. Worst drawdown: IVV -56.5% vs UPGD -60.7%.
Should I hold both IVV and UPGD?
IVV and UPGD have a monthly-return correlation of 0.86, 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 UPGD?
90.0% of UPGD's money is in holdings IVV also owns. 90.0% of UPGD's is in holdings IVV also owns. They hold 44 positions in common, counted across the 490 positions we hold weights for in IVV and 50 in UPGD.
Which pays a higher dividend, IVV or UPGD?
IVV yields 1.06% while UPGD yields 1.56%, so UPGD currently pays the higher dividend yield.
Is UPGD better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. UPGD is less concentrated, with 25.1% 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.