IVV vs VO
iShares Core S&P 500 ETF vs Vanguard Morningstar Mid-Cap ETF
Quick Verdict
IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | VO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $907.0B | $106.6B | |
| Dividend Yield | 1.10% | 1.32% | |
| Holdings | 508 | 289 | |
| YTD Return | +12.76% | +14.41% | |
| 1Y Return | +20.14% | +16.75% | |
| 3Y Return (annualized) | +21.69% | +17.21% | |
| 5Y Return (annualized) | +13.00% | +7.94% | |
| Volatility (annualized) | 15.1% | 16.9% | |
| Max Drawdown | -56.5% | -60.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jan 26, 2004 |
IVV vs VO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Vanguard Morningstar Mid-Cap ETF (VO) is a ETF from Vanguard (US). Over the past year IVV returned +20.14% while VO returned +16.75%. Year to date, IVV is up 12.76% versus a gain of 14.41% for VO.
Over three years, IVV compounded at +21.69% per year against +17.21% for VO; over five years the annualized figures are +13.00% and +7.94% respectively. Across the full 23-year window we track, VO has the edge at +9.22% annualized vs +6.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VO has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -60.3% for VO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while VO charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, IVV currently yields 1.10% against 1.32% for VO.
Holdings Overlap
IVV and VO share 239 holdings out of 545 unique holdings combined, representing a 15.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or VO?
IVV has an expense ratio of 0.03% while VO charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, IVV or VO?
Over the past year IVV returned +20.14% vs +16.75% for VO, so IVV leads on 1-year performance. Over the longest common window we track (23 years), IVV annualized +6.99% vs +9.22% for VO. Past performance does not guarantee future results.
Which is riskier, IVV or VO?
VO has been the more volatile fund at 16.9% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs VO -60.3%.
Should I hold both IVV and VO?
IVV and VO have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and VO?
IVV and VO share 239 common holdings with a 15.6% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, IVV or VO?
IVV yields 1.10% while VO yields 1.32%, so VO currently pays the higher dividend yield.
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