IVV vs IWL
IVV vs IWL
iShares Core S&P 500 ETF vs iShares Russell Top 200 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 | IVV | IWL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.15% | |
| AUM | $865.2B | $2.2B | |
| Dividend Yield | 1.09% | 0.85% | |
| Holdings | 508 | 205 | |
| YTD Return | +13.13% | +12.07% | |
| 1Y Return | +22.90% | +22.35% | |
| 3Y Return (annualized) | +21.08% | +22.02% | |
| 5Y Return (annualized) | +13.27% | +13.72% | |
| Volatility (annualized) | 15.1% | 14.2% | |
| Max Drawdown | -56.5% | -32.7% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Sep 22, 2009 |
IVV vs IWL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and iShares Russell Top 200 ETF (IWL) is a ETF from iShares by BlackRock (US). Over the past year IVV returned +22.90% while IWL returned +22.35%. Year to date, IVV is up 13.13% versus a gain of 12.07% for IWL.
Over three years, IVV compounded at +21.08% per year against +22.02% for IWL; over five years the annualized figures are +13.27% and +13.72% respectively. Across the full 17-year window we track, IWL has the edge at +13.24% annualized vs +7.02%. 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 14.2% for IWL. 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 -32.7% for IWL. 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while IWL charges 0.15%. On a $10,000 position that is $3 vs $15 annually, a gap of $12 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.85% for IWL.
Holdings Overlap
IVV and IWL share 190 holdings out of 517 unique holdings combined, representing a 83.4% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IVV | Weight in IWL | Difference |
|---|---|---|---|
| NVDA | 7.76% | 8.16% | 0.40% |
| AAPL | 7.44% | 8.09% | 0.65% |
| MSFT | 4.57% | 5.14% | 0.57% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings IVV shares with IWL Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, IVV or IWL?
IVV has an expense ratio of 0.03% while IWL charges 0.15%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, IVV or IWL?
Over the past year IVV returned +22.90% vs +22.35% for IWL, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.02% vs +13.24% for IWL. Past performance does not guarantee future results.
Which is riskier, IVV or IWL?
IVV has been the more volatile fund at 15.1% annualized versus 14.2% for IWL. Worst drawdown: IVV -56.5% vs IWL -32.7%.
Should I hold both IVV and IWL?
IVV and IWL have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and IWL?
IVV and IWL share 190 common holdings with a 83.4% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, IVV or IWL?
IVV yields 1.09% while IWL yields 0.85%, so IVV currently pays the higher dividend yield.
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