IVV vs PIM
IVV vs PIM
iShares Core S&P 500 ETF vs Putnam Master Intermediate Income Trust
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 | PIM | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.01% | |
| AUM | $865.2B | $1,493.58 | |
| Dividend Yield | 1.09% | 7.79% | |
| Holdings | 508 | 775 | |
| YTD Return | +9.93% | -1.56% | |
| 1Y Return | +19.59% | +1.56% | |
| 3Y Return (annualized) | +19.41% | +7.58% | |
| 5Y Return (annualized) | +12.89% | +2.18% | |
| Volatility (annualized) | 15.1% | 10.7% | |
| Max Drawdown | -56.5% | -59.0% | |
| Fund Family | iShares by BlackRock (US) | Putnam Investments | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Apr 29, 1988 |
IVV vs PIM Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Putnam Master Intermediate Income Trust (PIM) is a ETF from Putnam Investments. Over the past year IVV returned +19.59% while PIM returned +1.56%. Year to date, IVV is up 9.93% versus a loss of 1.56% for PIM.
Over three years, IVV compounded at +19.41% per year against +7.58% for PIM; over five years the annualized figures are +12.89% and +2.18% respectively. Across the full 26-year window we track, IVV has the edge at +6.91% annualized vs -1.48%. 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 10.7% for PIM. 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 -59.0% for PIM. 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PIM charges 1.01%. On a $10,000 position that is $3 vs $101 annually, a gap of $98 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 7.79% for PIM.
Holdings Overlap
IVV and PIM share 0 holdings out of 508 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, IVV or PIM?
IVV has an expense ratio of 0.03% while PIM charges 1.01%. IVV is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, IVV or PIM?
Over the past year IVV returned +19.59% vs +1.56% for PIM, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.91% vs -1.48% for PIM. Past performance does not guarantee future results.
Which is riskier, IVV or PIM?
IVV has been the more volatile fund at 15.1% annualized versus 10.7% for PIM. Worst drawdown: IVV -56.5% vs PIM -59.0%.
Should I hold both IVV and PIM?
IVV and PIM have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PIM?
IVV and PIM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, IVV or PIM?
IVV yields 1.09% while PIM yields 7.79%, so PIM currently pays the higher dividend yield.
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