IVV vs USA
iShares Core S&P 500 ETF vs Liberty All-Star Equity Fund
Which is better, IVV or USA?
IVV has been ahead.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. USA is less concentrated, with 25.0% 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 | USA |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.92% |
| AUM | $876.4B | $2.1B |
| Dividend Yield | 1.06% | 9.81% |
| Holdings | 508 | 139 |
| YTD Return | +13.32%Best | +1.43% |
| 1Y Return | +17.08%Best | +1.06% |
| 3Y Return (annualized) | +22.72%Best | +10.22% |
| 5Y Return (annualized) | +13.20%Best | +1.49% |
| Volatility (annualized) | 15.1%Best | 20.0% |
| Max Drawdown | -56.5%Best | -82.9% |
| $10,000 over 5 years | $18,588Best | $10,768 |
| Top 10 Weight | 37.8% | 25.0%Best |
| Fund Family | iShares by BlackRock (US) | Liberty All Star Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Oct 31, 1986 |
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 23, 2026 (26.3 years).
IVV vs USA 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 USA Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Liberty All-Star Equity Fund (USA) is an ETF from Liberty All Star Funds. Over the past year IVV returned +17.08% while USA returned +1.06%. Year to date, IVV is up 13.32% versus a gain of 1.43% for USA.
Over three years, IVV compounded at +22.72% per year against +10.22% for USA; over five years the annualized figures are +13.20% and +1.49% respectively. Across the full 26-year window we track, IVV has the edge at +6.99% annualized vs -0.36%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USA has been the more volatile fund, with annualized monthly volatility of 20.0% 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 -82.9% for USA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while USA charges 0.92%. On a $10,000 position that is $3 vs $92 annually, a gap of $89 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 9.81% for USA.
Holdings Overlap
51.7% of IVV's money is in holdings USA also owns. 78.6% of USA's money is in holdings IVV also owns.
Most of USA is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, IVV as of Aug 31, 2026 and USA as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
106 positions in common, counted across the 490 positions we hold weights for in IVV and 147 in USA, against full books of 508 and 139.
What only one of them owns
Our book lists 24 positions for USA that do not appear in our book for IVV (13.6% of the fund), and 376 for IVV that do not appear in USA (46.9%).
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 USA | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.07% | 5.70% | 2.37% |
| MSFTMicrosoft Corp | 5.69% | 2.57% | 3.12% |
| GOOGAlphabet Inc | 2.39% | 3.84% | 1.45% |
| AMZNAmazon.Com Inc | 3.84% | 1.66% | 2.18% |
| GOOGLAlphabet Inc,class A | 3.00% | 1.10% | 1.90% |
| AVGOBroadcom Inc | 2.65% | 1.29% | 1.36% |
| METAMeta Platforms Inc | 1.90% | 1.98% | 0.08% |
| TSLATesla Inc | 1.56% | 1.66% | 0.10% |
| VVisa Inc Class A | 0.95% | 1.68% | 0.73% |
| COFCapital One Financial Corp. | 0.20% | 2.32% | 2.12% |
78.6% of USA 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 USA?
IVV has an expense ratio of 0.03% while USA charges 0.92%. IVV is the cheaper option, by $89 a year on a $10,000 investment.
Which performed better, IVV or USA?
Over the past year IVV returned +17.08% vs +1.06% for USA, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.99% vs -0.36% for USA. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or USA?
USA has been the more volatile fund at 20.0% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs USA -82.9%.
Should I hold both IVV and USA?
IVV and USA have a monthly-return correlation of 0.85, 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 USA?
78.6% of USA's money is in holdings IVV also owns. 78.6% of USA's is in holdings IVV also owns. They hold 106 positions in common, counted across the 490 positions we hold weights for in IVV and 147 in USA.
Which pays a higher dividend, IVV or USA?
IVV yields 1.06% while USA yields 9.81%, so USA currently pays the higher dividend yield.
Is USA better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. USA is less concentrated, with 25.0% 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.