IVV vs XLV
iShares Core S&P 500 ETF vs State Street Health Care Select Sector SPDR ETF
Which is better, IVV or XLV?
Each has led over a different period.
IVV has a lower expense ratio. IVV led over 3Y and 5Y, XLV over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 60.7%.
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 | XLV |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.08% |
| AUM | $876.4B | $44.5B |
| Dividend Yield | 1.06% | 1.49% |
| Holdings | 508 | 63 |
| YTD Return | +11.57%Best | +7.44% |
| 1Y Return | +17.57% | +22.74%Best |
| 3Y Return (annualized) | +20.71%Best | +9.43% |
| 5Y Return (annualized) | +12.80%Best | +6.17% |
| Volatility (annualized) | 15.1% | 14.1%Best |
| Max Drawdown | -56.5% | -40.6%Best |
| $10,000 over 5 years | $18,262Best | $13,490 |
| Top 10 Weight | 37.9%Best | 60.7% |
| Fund Family | iShares by BlackRock (US) | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Dec 16, 1998 |
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 10, 2026 (26.3 years).
IVV vs XLV 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 26.3 years both funds cover.
IVV vs XLV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and State Street Health Care Select Sector SPDR ETF (XLV) is an ETF from SPDR State Street Global Advisors. Over the past year IVV returned +17.57% while XLV returned +22.74%. Year to date, IVV is up 11.57% versus a gain of 7.44% for XLV.
Over three years, IVV compounded at +20.71% per year against +9.43% for XLV; over five years the annualized figures are +12.80% and +6.17% respectively. Across the full 26-year window we track, XLV has the edge at +7.23% annualized vs +6.94%.
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 14.1% for XLV. 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 -40.6% for XLV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while XLV charges 0.08%. On a $10,000 position that is $3 vs $8 annually, a gap of $5 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 1.49% for XLV.
Holdings Overlap
8.9% of IVV's money is in holdings XLV also owns. 99.8% of XLV's money is in holdings IVV also owns.
Most of XLV is already inside IVV. Owning both mostly buys the same companies twice.
60 positions in common, counted across the 505 positions we hold weights for in IVV and 61 in XLV, against full books of 508 and 63.
What only one of them owns
Measured across the 505 and 61 positions we hold weights for.
IVV holds 436 positions XLV does not, 90.4% of the fund.
Largest: NVDA 7.98%, AAPL 6.86%, MSFT 5.44%, AMZN 4.01%, GOOGL 3.19%
Top Shared Holdings
| Stock | Weight in IVV | Weight in XLV | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 1.39% | 15.68% | 14.29% |
| JNJJohnson & Johnson | 0.93% | 10.43% | 9.50% |
| ABBVAbbvie Inc. | 0.65% | 7.26% | 6.61% |
| UNHUnitedhealth Group, Inc. | 0.56% | 6.18% | 5.62% |
| MRKMerck & Co. Inc. | 0.48% | 5.31% | 4.83% |
| AMGNAmgen Inc. | 0.33% | 3.71% | 3.38% |
| TMOThermo Fisher Scientific Inc | 0.32% | 3.69% | 3.37% |
| ABTAbbott Laboratories | 0.28% | 3.14% | 2.86% |
| GILDGilead Sciences Inc | 0.25% | 2.76% | 2.51% |
| PFEPfizer, Inc. | 0.22% | 2.55% | 2.33% |
99.8% of XLV 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 XLV?
IVV has an expense ratio of 0.03% while XLV charges 0.08%. IVV is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, IVV or XLV?
Over the past year IVV returned +17.57% vs +22.74% for XLV, so XLV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.94% vs +7.23% for XLV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or XLV?
IVV has been the more volatile fund at 15.1% annualized versus 14.1% for XLV. Worst drawdown: IVV -56.5% vs XLV -40.6%.
Should I hold both IVV and XLV?
IVV and XLV have a monthly-return correlation of 0.75, 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 XLV?
99.8% of XLV's money is in holdings IVV also owns. 99.8% of XLV's is in holdings IVV also owns. They hold 60 positions in common, counted across the 505 positions we hold weights for in IVV and 61 in XLV.
Which pays a higher dividend, IVV or XLV?
IVV yields 1.06% while XLV yields 1.49%, so XLV currently pays the higher dividend yield.
Is XLV better than IVV?
IVV has a lower expense ratio. IVV led over 3Y and 5Y, XLV over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 60.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.