GWX vs IVV
State Street SPDR S&P International Small Cap ETF vs iShares Core S&P 500 ETF
Which is better, GWX or IVV?
Mid Cap Growth against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. GWX is less concentrated, with 2.8% of the fund in its ten largest positions against 38.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GWX | IVV |
|---|---|---|
| Expense Ratio | 0.40% | 0.03%Best |
| AUM | $909M | $896.5B |
| Dividend Yield | 2.61% | 1.10% |
| Holdings | 2,076 | 508 |
| YTD Return | +9.71% | +13.59%Best |
| 1Y Return | +15.01% | +17.54%Best |
| 3Y Return (annualized) | +19.12% | +22.46%Best |
| 5Y Return (annualized) | +5.51% | +13.28%Best |
| Volatility (annualized) | 19.1% | 15.5%Best |
| Max Drawdown | -64.8% | -56.5%Best |
| $10,000 over 5 years | $13,076 | $18,654Best |
| Top 10 Weight | 2.8%Best | 38.9% |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Apr 20, 2007 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2007 to Oct 14, 2026 (19.5 years).
GWX vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.5 years both funds cover.
GWX vs IVV Performance
State Street SPDR S&P International Small Cap ETF (GWX) is an ETF from State Street Investment Management and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year GWX returned +15.01% while IVV returned +17.54%. Year to date, GWX is up 9.71% versus a gain of 13.59% for IVV.
Over three years, GWX compounded at +19.12% per year against +22.46% for IVV; over five years the annualized figures are +5.51% and +13.28% respectively. Across the full 20-year window we track, IVV has the edge at +9.24% annualized vs +1.85%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GWX has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 15.5% 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 -64.8% for GWX and -56.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GWX charges 0.40% per year while IVV charges 0.03%. On a $10,000 position that is $40 vs $3 annually, a gap of $37 per year that compounds over a long holding period. On income, GWX currently yields 2.61% against 1.10% for IVV.
Holdings Overlap
0.6% of IVV's money is in holdings GWX also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
2 positions in common, counted across the 2,062 positions we hold weights for in GWX and 506 in IVV, against full books of 2,076 and 508.
What only one of them owns
Our book lists 497 positions for IVV that do not appear in our book for GWX (98.8% of the fund), and 55 for GWX that do not appear in IVV (2.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of GWX and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GWX or IVV?
GWX has an expense ratio of 0.40% while IVV charges 0.03%. IVV is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, GWX or IVV?
Over the past year GWX returned +15.01% vs +17.54% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), GWX annualized +1.85% vs +9.24% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GWX or IVV?
GWX has been the more volatile fund at 19.1% annualized versus 15.5% for IVV. Worst drawdown: GWX -64.8% vs IVV -56.5%.
Should I hold both GWX and IVV?
GWX and IVV have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GWX or IVV?
GWX yields 2.61% while IVV yields 1.10%, so GWX currently pays the higher dividend yield.
Is IVV better than GWX?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. GWX is less concentrated, with 2.8% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.