IVV vs VBR
iShares Core S&P 500 ETF vs Vanguard Morningstar Small-Cap Value ETF
Which is better, IVV or VBR?
Large Cap Blend against Small Cap Value.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. VBR is less concentrated, with 5.9% 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 | VBR |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.05% |
| AUM | $876.4B | $37.3B |
| Dividend Yield | 1.06% | 1.76% |
| Holdings | 508 | 847 |
| YTD Return | +12.39%Best | +12.02% |
| 1Y Return | +16.61%Best | +14.52% |
| 3Y Return (annualized) | +21.38%Best | +15.64% |
| 5Y Return (annualized) | +13.51%Best | +9.62% |
| Volatility (annualized) | 14.6%Best | 19.0% |
| Max Drawdown | -56.5%Best | -64.0% |
| $10,000 over 5 years | $18,844Best | $15,829 |
| Top 10 Weight | 37.8% | 5.9%Best |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Value |
| Inception | May 15, 2000 | Jan 26, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Jan 30, 2004 to Sep 18, 2026 (22.6 years).
IVV vs VBR 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 22.6 years both funds cover.
IVV vs VBR Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Vanguard Morningstar Small-Cap Value ETF (VBR) is an ETF from Vanguard (US). Over the past year IVV returned +16.61% while VBR returned +14.52%. Year to date, IVV is up 12.39% versus a gain of 12.02% for VBR.
Over three years, IVV compounded at +21.38% per year against +15.64% for VBR; over five years the annualized figures are +13.51% and +9.62% respectively. Across the full 23-year window we track, IVV has the edge at +9.17% annualized vs +7.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VBR has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 14.6% 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 -64.0% for VBR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while VBR charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.76% for VBR.
Holdings Overlap
2.5% of IVV's money is in holdings VBR also owns. 28.8% of VBR's money is in holdings IVV also owns.
VBR and IVV share little of their money.
The two holdings books were reported 62 days apart, IVV as of Aug 31, 2026 and VBR as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
98 positions in common, counted across the 490 positions we hold weights for in IVV and 836 in VBR, against full books of 508 and 847.
What only one of them owns
Our book lists 706 positions for VBR that do not appear in our book for IVV (68.6% of the fund), and 386 for IVV that do not appear in VBR (96.2%).
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 VBR | Difference |
|---|---|---|---|
| JBLJabil, Inc. | 0.05% | 0.87% | 0.82% |
| NRGNrg Energy | 0.04% | 0.66% | 0.62% |
| TPRTapestry Inc. | 0.04% | 0.63% | 0.59% |
| ATOAtmos Energy Corp | 0.04% | 0.61% | 0.57% |
| WSMWilliams-sonoma Inc | 0.04% | 0.59% | 0.55% |
| MRNAModerna therapeutics | 0.07% | 0.53% | 0.46% |
| SWR:IESmurfit Westrock Plc | 0.04% | 0.52% | 0.48% |
| FFIVF5 Networks Inc. | 0.03% | 0.50% | 0.47% |
| EXEExpand Energy Corp | 0.04% | 0.47% | 0.43% |
| JBHTJb Hunt Transport Services Inc. | 0.03% | 0.47% | 0.44% |
28.8% of VBR 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 VBR?
IVV has an expense ratio of 0.03% while VBR charges 0.05%. IVV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, IVV or VBR?
Over the past year IVV returned +16.61% vs +14.52% for VBR, so IVV leads on 1-year performance. Over the longest common window we track (23 years), IVV annualized +9.17% vs +7.75% for VBR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or VBR?
VBR has been the more volatile fund at 19.0% annualized versus 14.6% for IVV. Worst drawdown: IVV -56.5% vs VBR -64.0%.
Should I hold both IVV and VBR?
IVV and VBR have a monthly-return correlation of 0.89, 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 VBR?
28.8% of VBR's money is in holdings IVV also owns. 28.8% of VBR's is in holdings IVV also owns. They hold 98 positions in common, counted across the 490 positions we hold weights for in IVV and 836 in VBR.
Which pays a higher dividend, IVV or VBR?
IVV yields 1.06% while VBR yields 1.76%, so VBR currently pays the higher dividend yield.
Is VBR better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. VBR is less concentrated, with 5.9% 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.