IVV vs UCON
IVV vs UCON
iShares Core S&P 500 ETF vs First Trust Smith Unconstrained Bond 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 | UCON | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.86% | |
| AUM | $865.2B | $3.3B | |
| Dividend Yield | 1.09% | 5.11% | |
| Holdings | 508 | 456 | |
| YTD Return | +13.31% | +0.72% | |
| 1Y Return | +24.00% | +3.71% | |
| 3Y Return (annualized) | +21.16% | +5.47% | |
| 5Y Return (annualized) | +13.34% | +2.73% | |
| Volatility (annualized) | 15.1% | 4.5% | |
| Max Drawdown | -56.5% | -15.3% | |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jun 4, 2018 |
IVV vs UCON Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and First Trust Smith Unconstrained Bond ETF (UCON) is a ETF from First Trust Portfolios (US). Over the past year IVV returned +24.00% while UCON returned +3.71%. Year to date, IVV is up 13.31% versus a gain of 0.72% for UCON.
Over three years, IVV compounded at +21.16% per year against +5.47% for UCON; over five years the annualized figures are +13.34% and +2.73% respectively. Across the full 8-year window we track, IVV has the edge at +7.03% annualized vs +2.57%. 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 4.5% for UCON. 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 -15.3% for UCON. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while UCON charges 0.86%. On a $10,000 position that is $3 vs $86 annually, a gap of $83 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 5.11% for UCON.
Holdings Overlap
IVV and UCON share 1 holdings out of 824 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in UCON | Difference |
|---|---|---|---|
| C | 0.35% | 0.15% | 0.20% |
Frequently Asked Questions
Which is cheaper, IVV or UCON?
IVV has an expense ratio of 0.03% while UCON charges 0.86%. IVV is the cheaper option. On a $10,000 investment, that is $83 per year of difference.
Which performed better, IVV or UCON?
Over the past year IVV returned +24.00% vs +3.71% for UCON, so IVV leads on 1-year performance. Over the longest common window we track (8 years), IVV annualized +7.03% vs +2.57% for UCON. Past performance does not guarantee future results.
Which is riskier, IVV or UCON?
IVV has been the more volatile fund at 15.1% annualized versus 4.5% for UCON. Worst drawdown: IVV -56.5% vs UCON -15.3%.
Should I hold both IVV and UCON?
IVV and UCON have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and UCON?
IVV and UCON share 1 common holdings with a 0.1% weight overlap. Combined, they hold 824 unique securities.
Which pays a higher dividend, IVV or UCON?
IVV yields 1.09% while UCON yields 5.11%, so UCON currently pays the higher dividend yield.
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