IVV vs VOE
iShares Core S&P 500 ETF vs Vanguard Mid-Cap Value ETF
Quick Verdict
IVV has a lower expense ratio. VOE delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $865.2B | $22.9B | |
| Dividend Yield | 1.09% | 2.31% | |
| Holdings | 508 | 177 | |
| YTD Return | +13.43% | +17.73% | |
| 1Y Return | +22.61% | +27.33% | |
| 3Y Return (annualized) | +21.47% | +16.78% | |
| 5Y Return (annualized) | +13.26% | +9.95% | |
| Volatility (annualized) | 15.1% | 17.6% | |
| Max Drawdown | -56.5% | -63.4% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Aug 17, 2006 |
IVV vs VOE Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year IVV returned +22.61% while VOE returned +27.33%. Year to date, IVV is up 13.43% versus a gain of 17.73% for VOE.
Over three years, IVV compounded at +21.47% per year against +16.78% for VOE; over five years the annualized figures are +13.26% and +9.95% respectively. Across the full 20-year window we track, VOE has the edge at +7.98% annualized vs +7.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -63.4% for VOE. 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 0.92. 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 VOE 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 1.09% against 2.31% for VOE.
Holdings Overlap
IVV and VOE share 156 holdings out of 518 unique holdings combined, representing a 9.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or VOE?
IVV has an expense ratio of 0.03% while VOE charges 0.05%. IVV is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, IVV or VOE?
Over the past year IVV returned +22.61% vs +27.33% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.03% vs +7.98% for VOE. Past performance does not guarantee future results.
Which is riskier, IVV or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs VOE -63.4%.
Should I hold both IVV and VOE?
IVV and VOE have a monthly-return correlation of 0.92, 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 VOE?
IVV and VOE share 156 common holdings with a 9.6% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, IVV or VOE?
IVV yields 1.09% while VOE yields 2.31%, so VOE currently pays the higher dividend yield.
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