HIX vs IVV
HIX vs IVV
Western Asset High Income Fund II 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 | HIX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 3.82% | 0.03% | |
| AUM | $363M | $865.2B | |
| Dividend Yield | 14.27% | 1.09% | |
| Holdings | 437 | 508 | |
| YTD Return | +2.33% | +13.31% | |
| 1Y Return | +6.90% | +24.00% | |
| 3Y Return (annualized) | +6.00% | +21.16% | |
| 5Y Return (annualized) | -0.71% | +13.34% | |
| Volatility (annualized) | 18.7% | 15.1% | |
| Max Drawdown | -75.2% | -56.5% | |
| Fund Family | Franklin Templeton Investments (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | May 22, 1998 | May 15, 2000 |
HIX vs IVV Performance
Western Asset High Income Fund II Inc. (HIX) 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 HIX returned +6.90% while IVV returned +24.00%. Year to date, HIX is up 2.33% versus a gain of 13.31% for IVV.
Over three years, HIX compounded at +6.00% per year against +21.16% for IVV; over five years the annualized figures are -0.71% and +13.34% respectively. Across the full 26-year window we track, IVV has the edge at +7.03% annualized vs -2.37%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HIX has been the more volatile fund, with annualized monthly volatility of 18.7% 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 -75.2% for HIX 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HIX charges 3.82% per year while IVV charges 0.03%. On a $10,000 position that is $382 vs $3 annually, a gap of $379 per year that compounds over a long holding period. On income, HIX currently yields 14.27% against 1.09% for IVV.
Holdings Overlap
HIX and IVV share 0 holdings out of 793 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, HIX or IVV?
HIX has an expense ratio of 3.82% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $379 per year of difference.
Which performed better, HIX or IVV?
Over the past year HIX returned +6.90% vs +24.00% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), HIX annualized -2.37% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, HIX or IVV?
HIX has been the more volatile fund at 18.7% annualized versus 15.1% for IVV. Worst drawdown: HIX -75.2% vs IVV -56.5%.
Should I hold both HIX and IVV?
HIX and IVV have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HIX and IVV?
HIX and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 793 unique securities.
Which pays a higher dividend, HIX or IVV?
HIX yields 14.27% while IVV yields 1.09%, so HIX currently pays the higher dividend yield.
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