IVV vs VPV
iShares Core S&P 500 ETF vs Invesco Pennsylvania Value Municipal Income Trust
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | VPV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.71% | |
| AUM | $907.0B | $3,177.19 | |
| Dividend Yield | 1.10% | 7.59% | |
| Holdings | 508 | 141 | |
| YTD Return | +12.28% | +10.82% | |
| 1Y Return | +20.94% | +20.60% | |
| 3Y Return (annualized) | +21.81% | +12.19% | |
| 5Y Return (annualized) | +13.05% | +1.63% | |
| Volatility (annualized) | 15.1% | 13.2% | |
| Max Drawdown | -56.5% | -57.3% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Apr 30, 1993 |
IVV vs VPV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Pennsylvania Value Municipal Income Trust (VPV) is a ETF from Invesco (US). Over the past year IVV returned +20.94% while VPV returned +20.60%. Year to date, IVV is up 12.28% versus a gain of 10.82% for VPV.
Over three years, IVV compounded at +21.81% per year against +12.19% for VPV; over five years the annualized figures are +13.05% and +1.63% respectively. Across the full 26-year window we track, IVV has the edge at +6.98% annualized vs +0.66%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.2% for VPV. 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 -57.3% for VPV. 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 0.19. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while VPV charges 1.71%. On a $10,000 position that is $3 vs $171 annually, a gap of $168 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 7.59% for VPV.
Holdings Overlap
IVV and VPV share 0 holdings out of 560 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or VPV?
IVV has an expense ratio of 0.03% while VPV charges 1.71%. IVV is the cheaper option. On a $10,000 investment, that is $168 per year of difference.
Which performed better, IVV or VPV?
Over the past year IVV returned +20.94% vs +20.60% for VPV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.98% vs +0.66% for VPV. Past performance does not guarantee future results.
Which is riskier, IVV or VPV?
IVV has been the more volatile fund at 15.1% annualized versus 13.2% for VPV. Worst drawdown: IVV -56.5% vs VPV -57.3%.
Should I hold both IVV and VPV?
IVV and VPV have a monthly-return correlation of 0.19, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and VPV?
IVV and VPV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 560 unique securities.
Which pays a higher dividend, IVV or VPV?
IVV yields 1.10% while VPV yields 7.59%, so VPV currently pays the higher dividend yield.
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