IVV vs PHDG
IVV vs PHDG
iShares Core S&P 500 ETF vs Invesco S&P 500 Downside Hedged 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 | PHDG | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.39% | |
| AUM | $865.2B | $61M | |
| Dividend Yield | 1.09% | 1.68% | |
| Holdings | 508 | 514 | |
| YTD Return | +11.54% | +11.67% | |
| 1Y Return | +21.48% | +18.00% | |
| 3Y Return (annualized) | +20.86% | +9.21% | |
| 5Y Return (annualized) | +13.02% | +4.35% | |
| Volatility (annualized) | 15.1% | 9.9% | |
| Max Drawdown | -56.5% | -23.6% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Dec 5, 2012 |
IVV vs PHDG Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US). Over the past year IVV returned +21.48% while PHDG returned +18.00%. Year to date, IVV is up 11.54% versus a gain of 11.67% for PHDG.
Over three years, IVV compounded at +20.86% per year against +9.21% for PHDG; over five years the annualized figures are +13.02% and +4.35% respectively. Across the full 14-year window we track, IVV has the edge at +6.97% annualized vs +4.36%. 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 9.9% for PHDG. 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 -23.6% for PHDG. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PHDG charges 0.39%. On a $10,000 position that is $3 vs $39 annually, a gap of $36 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.68% for PHDG.
Holdings Overlap
IVV and PHDG share 481 holdings out of 518 unique holdings combined, representing a 72.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PHDG | Difference |
|---|---|---|---|
| NVDA | 7.76% | 5.69% | 2.07% |
| AAPL | 7.44% | 4.98% | 2.46% |
| MSFT | 4.57% | 3.30% | 1.27% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings IVV shares with PHDG 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 PHDG?
IVV has an expense ratio of 0.03% while PHDG charges 0.39%. IVV is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, IVV or PHDG?
Over the past year IVV returned +21.48% vs +18.00% for PHDG, so IVV leads on 1-year performance. Over the longest common window we track (14 years), IVV annualized +6.97% vs +4.36% for PHDG. Past performance does not guarantee future results.
Which is riskier, IVV or PHDG?
IVV has been the more volatile fund at 15.1% annualized versus 9.9% for PHDG. Worst drawdown: IVV -56.5% vs PHDG -23.6%.
Should I hold both IVV and PHDG?
IVV and PHDG have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PHDG?
IVV and PHDG share 481 common holdings with a 72.6% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, IVV or PHDG?
IVV yields 1.09% while PHDG yields 1.68%, so PHDG currently pays the higher dividend yield.
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