IVV vs XSW
iShares Core S&P 500 ETF vs State Street SPDR S&P Software & Services ETF
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 | XSW | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.35% | |
| AUM | $907.0B | $516M | |
| Dividend Yield | 1.10% | 0.00% | |
| Holdings | 508 | 134 | |
| YTD Return | +12.28% | +8.65% | |
| 1Y Return | +20.94% | +9.63% | |
| 3Y Return (annualized) | +21.81% | +15.88% | |
| 5Y Return (annualized) | +13.05% | +3.40% | |
| Volatility (annualized) | 15.1% | 20.8% | |
| Max Drawdown | -56.5% | -45.4% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Sep 28, 2011 |
IVV vs XSW Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P Software & Services ETF (XSW) is a ETF from State Street Investment Management. Over the past year IVV returned +20.94% while XSW returned +9.63%. Year to date, IVV is up 12.28% versus a gain of 8.65% for XSW.
Over three years, IVV compounded at +21.81% per year against +15.88% for XSW; over five years the annualized figures are +13.05% and +3.40% respectively. Across the full 15-year window we track, XSW has the edge at +15.77% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XSW has been the more volatile fund, with annualized monthly volatility of 20.8% 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 -45.4% for XSW. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while XSW 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 1.10% against 0.00% for XSW.
Holdings Overlap
IVV and XSW share 27 holdings out of 610 unique holdings combined, representing a 4.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or XSW?
IVV has an expense ratio of 0.03% while XSW charges 0.35%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, IVV or XSW?
Over the past year IVV returned +20.94% vs +9.63% for XSW, so IVV leads on 1-year performance. Over the longest common window we track (15 years), IVV annualized +6.98% vs +15.77% for XSW. Past performance does not guarantee future results.
Which is riskier, IVV or XSW?
XSW has been the more volatile fund at 20.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs XSW -45.4%.
Should I hold both IVV and XSW?
IVV and XSW have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and XSW?
IVV and XSW share 27 common holdings with a 4.5% weight overlap. Combined, they hold 610 unique securities.
Which pays a higher dividend, IVV or XSW?
IVV yields 1.10% while XSW yields 0.00%, so IVV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.