IVV vs XBI
iShares Core S&P 500 ETF vs State Street SPDR S&P Biotech ETF
Which is better, IVV or XBI?
Large Cap Blend against Small Cap Blend.
IVV has a lower expense ratio. IVV led over 5Y, XBI over 1Y, 3Y and the full window. XBI is less concentrated, with 13.9% of the fund in its ten largest positions against 37.9%.
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 | XBI |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.35% |
| AUM | $876.4B | $11.5B |
| Dividend Yield | 1.06% | 0.35% |
| Holdings | 508 | 160 |
| YTD Return | +11.57% | +29.18%Best |
| 1Y Return | +17.57% | +67.77%Best |
| 3Y Return (annualized) | +20.71% | +26.05%Best |
| 5Y Return (annualized) | +12.80%Best | +3.68% |
| Volatility (annualized) | 15.2%Best | 26.9% |
| Max Drawdown | -56.5%Best | -63.9% |
| $10,000 over 5 years | $18,262Best | $11,980 |
| Top 10 Weight | 37.9% | 13.9%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | May 15, 2000 | Jan 31, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Feb 6, 2006 to Sep 10, 2026 (20.6 years).
IVV vs XBI 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 20.6 years both funds cover.
IVV vs XBI Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P Biotech ETF (XBI) is an ETF from State Street Investment Management. Over the past year IVV returned +17.57% while XBI returned +67.77%. Year to date, IVV is up 11.57% versus a gain of 29.18% for XBI.
Over three years, IVV compounded at +20.71% per year against +26.05% for XBI; over five years the annualized figures are +12.80% and +3.68% respectively. Across the full 21-year window we track, XBI has the edge at +11.62% annualized vs +9.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XBI has been the more volatile fund, with annualized monthly volatility of 26.9% compared with 15.2% 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 -63.9% for XBI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.55. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while XBI charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.35% for XBI.
Holdings Overlap
1.6% of IVV's money is in holdings XBI also owns. 9.0% of XBI's money is in holdings IVV also owns.
XBI and IVV share little of their money.
8 positions in common, counted across the 505 positions we hold weights for in IVV and 151 in XBI, against full books of 508 and 160.
What only one of them owns
Our book lists 136 positions for XBI that do not appear in our book for IVV (86.1% of the fund), and 487 for IVV that do not appear in XBI (97.7%).
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 XBI | Difference |
|---|---|---|---|
| ABBVAbbvie Inc. | 0.65% | 1.07% | 0.42% |
| AMGNAmgen Inc. | 0.33% | 1.14% | 0.81% |
| REGNRegeneron Pharmaceuticals, Inc. | 0.12% | 1.24% | 1.12% |
| GILDGilead Sciences Inc | 0.25% | 1.09% | 0.84% |
| VRTXVertex Pharmaceuticals Inc | 0.18% | 1.08% | 0.90% |
| MRNAModerna Inc | 0.03% | 1.22% | 1.19% |
| INCYIncyte Corp. | 0.03% | 1.13% | 1.10% |
| BIIBBiogen Inc. | 0.05% | 1.06% | 1.01% |
You are not choosing between two funds in isolation.
Whichever of IVV and XBI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or XBI?
IVV has an expense ratio of 0.03% while XBI charges 0.35%. IVV is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, IVV or XBI?
Over the past year IVV returned +17.57% vs +67.77% for XBI, so XBI leads on 1-year performance. Over the longest common window we track (21 years), IVV annualized +9.50% vs +11.62% for XBI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or XBI?
XBI has been the more volatile fund at 26.9% annualized versus 15.2% for IVV. Worst drawdown: IVV -56.5% vs XBI -63.9%.
Should I hold both IVV and XBI?
IVV and XBI have a monthly-return correlation of 0.55, 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 XBI?
9.0% of XBI's money is in holdings IVV also owns. 9.0% of XBI's is in holdings IVV also owns. They hold 8 positions in common, counted across the 505 positions we hold weights for in IVV and 151 in XBI.
Which pays a higher dividend, IVV or XBI?
IVV yields 1.06% while XBI yields 0.35%, so IVV currently pays the higher dividend yield.
Is XBI better than IVV?
IVV has a lower expense ratio. IVV led over 5Y, XBI over 1Y, 3Y and the full window. XBI is less concentrated, with 13.9% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.