GDO vs IVV
GDO vs IVV
Western Asset Global Corporate Defined Opportunity Fund Inc. vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GDO | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.20% | 0.03% | |
| AUM | $84M | $865.2B | |
| Dividend Yield | 12.86% | 1.09% | |
| Holdings | 330 | 508 | |
| YTD Return | -5.61% | +13.52% | |
| 1Y Return | +0.48% | +23.63% | |
| 3Y Return (annualized) | +6.08% | +21.26% | |
| 5Y Return (annualized) | -1.11% | +13.52% | |
| Volatility (annualized) | 12.7% | 15.1% | |
| Max Drawdown | -41.8% | -56.5% | |
| Fund Family | Franklin Templeton Investments (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Nov 24, 2009 | May 15, 2000 |
GDO vs IVV Performance
Western Asset Global Corporate Defined Opportunity Fund Inc. (GDO) is a ETF from Franklin Templeton Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GDO returned +0.48% while IVV returned +23.63%. Year to date, GDO is down 5.61% versus a gain of 13.52% for IVV.
Over three years, GDO compounded at +6.08% per year against +21.26% for IVV; over five years the annualized figures are -1.11% and +13.52% respectively. Across the full 17-year window we track, IVV has the edge at +7.04% annualized vs -0.59%. 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 12.7% for GDO. 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 -41.8% for GDO and -56.5% for IVV. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GDO charges 1.20% per year while IVV charges 0.03%. On a $10,000 position that is $120 vs $3 annually, a gap of $117 per year that compounds over a long holding period. On income, GDO currently yields 12.86% against 1.09% for IVV.
Holdings Overlap
GDO and IVV share 0 holdings out of 718 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, GDO or IVV?
GDO has an expense ratio of 1.20% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $117 per year of difference.
Which performed better, GDO or IVV?
Over the past year GDO returned +0.48% vs +23.63% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (17 years), GDO annualized -0.59% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, GDO or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 12.7% for GDO. Worst drawdown: GDO -41.8% vs IVV -56.5%.
Should I hold both GDO and IVV?
GDO and IVV have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GDO and IVV?
GDO and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 718 unique securities.
Which pays a higher dividend, GDO or IVV?
GDO yields 12.86% while IVV yields 1.09%, so GDO currently pays the higher dividend yield.
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