IVV vs VO
iShares Core S&P 500 ETF vs Vanguard Morningstar Mid-Cap ETF
Which is better, IVV or VO?
Large Cap Blend against Mid Cap Blend.
IVV led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. VO is less concentrated, with 9.1% 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 | VO |
|---|---|---|
| Expense Ratio | 0.03%Tie | 0.03%Tie |
| AUM | $876.4B | $106.6B |
| Dividend Yield | 1.06% | 1.30% |
| Holdings | 508 | 289 |
| YTD Return | +12.39%Best | +10.11% |
| 1Y Return | +16.61%Best | +11.13% |
| 3Y Return (annualized) | +21.38%Best | +15.98% |
| 5Y Return (annualized) | +13.51%Best | +7.59% |
| Volatility (annualized) | 14.6%Best | 16.9% |
| Max Drawdown | -56.5%Best | -60.3% |
| $10,000 over 5 years | $18,844Best | $14,416 |
| Top 10 Weight | 37.8% | 9.1%Best |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| 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 VO 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 VO Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Vanguard Morningstar Mid-Cap ETF (VO) is an ETF from Vanguard (US). Over the past year IVV returned +16.61% while VO returned +11.13%. Year to date, IVV is up 12.39% versus a gain of 10.11% for VO.
Over three years, IVV compounded at +21.38% per year against +15.98% for VO; over five years the annualized figures are +13.51% and +7.59% respectively. Across the full 23-year window we track, IVV has the edge at +9.17% annualized vs +9.01%.
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 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 -60.3% for VO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 1.06% against 1.30% for VO.
Holdings Overlap
15.2% of IVV's money is in holdings VO also owns. 85.2% of VO's money is in holdings IVV also owns.
Most of VO is already inside IVV. Owning both mostly buys the same companies twice.
233 positions in common, counted across the 490 positions we hold weights for in IVV and 283 in VO, against full books of 508 and 289.
What only one of them owns
Our book lists 43 positions for VO that do not appear in our book for IVV (12.0% of the fund), and 250 for IVV that do not appear in VO (83.4%).
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 VO | Difference |
|---|---|---|---|
| HWMHowmet Aerospace Inc. | 0.15% | 1.09% | 0.94% |
| STXSeagate Technology Holdings Plc | 0.28% | 0.92% | 0.64% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 0.23% | 0.90% | 0.67% |
| PWRQuanta Services Inc | 0.14% | 0.96% | 0.82% |
| MPCMarathon Petroleum Corp | 0.16% | 0.89% | 0.73% |
| VLOValero Energy | 0.16% | 0.89% | 0.73% |
| VRTVertiv Holdings Co | 0.15% | 0.89% | 0.74% |
| PSXPhillips 66 | 0.15% | 0.82% | 0.67% |
| DDOGDatadog Inc | 0.12% | 0.85% | 0.73% |
| CMICummins Inc. | 0.12% | 0.84% | 0.72% |
85.2% of VO 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 VO?
IVV has an expense ratio of 0.03% while VO charges 0.03%. At the precision these are quoted to, they cost the same.
Which performed better, IVV or VO?
Over the past year IVV returned +16.61% vs +11.13% for VO, so IVV leads on 1-year performance. Over the longest common window we track (23 years), IVV annualized +9.17% vs +9.01% for VO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or VO?
VO has been the more volatile fund at 16.9% annualized versus 14.6% 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. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and VO?
85.2% of VO's money is in holdings IVV also owns. 85.2% of VO's is in holdings IVV also owns. They hold 233 positions in common, counted across the 490 positions we hold weights for in IVV and 283 in VO.
Which pays a higher dividend, IVV or VO?
IVV yields 1.06% while VO yields 1.30%, so VO currently pays the higher dividend yield.
Is VO better than IVV?
IVV led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. VO is less concentrated, with 9.1% 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.