IVV vs KBWR
iShares Core S&P 500 ETF vs Invesco KBW Regional Banking ETF
Which is better, IVV or KBWR?
Large Cap Blend against Small Cap Value.
IVV has a lower expense ratio. IVV led over 1Y and the full window. KBWR is less concentrated, with 29.9% 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 | IVV | KBWR |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.35% |
| AUM | $896.5B | $52M |
| Dividend Yield | 1.10% | 2.65% |
| Holdings | 508 | 52 |
| Volatility (annualized) | 13.9%Best | 27.1% |
| Max Drawdown | -33.9%Best | -52.9% |
| $10,000 over 14.3 years | $60,696Best | $42,732 |
| Top 10 Weight | 38.9% | 29.9%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Value |
| Inception | May 15, 2000 | Nov 1, 2011 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 236 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Oct 14, 2026 and KBWR through Feb 20, 2026.
Volatility and max drawdown, and the $10,000 over 14.3 years row, are measured over the window both funds cover: Nov 1, 2011 to Feb 20, 2026 (14.3 years).
Risk: Volatility and Drawdowns
KBWR has been the more volatile fund, with annualized monthly volatility of 27.1% compared with 13.9% 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 -33.9% for IVV and -52.9% for KBWR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while KBWR charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 2.65% for KBWR.
Holdings Overlap
We hold position weights for 506 holdings in IVV and 51 in KBWR, totalling 99.9% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 366 days apart, IVV as of Oct 1, 2026 and KBWR as of Sep 30, 2025, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 506 positions we hold weights for in IVV and 51 in KBWR, against full books of 508 and 52.
What only one of them owns
Our book lists 51 positions for KBWR that do not appear in our book for IVV (100.0% of the fund), and 500 for IVV that do not appear in KBWR (99.4%).
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 IVV and KBWR 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, IVV or KBWR?
IVV has an expense ratio of 0.03% while KBWR charges 0.35%. IVV is the cheaper option, by $32 a year on a $10,000 investment.
Which is riskier, IVV or KBWR?
KBWR has been the more volatile fund at 27.1% annualized versus 13.9% for IVV. Worst drawdown: IVV -33.9% vs KBWR -52.9%.
Should I hold both IVV and KBWR?
IVV and KBWR have a monthly-return correlation of 0.54, 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, IVV or KBWR?
IVV yields 1.10% while KBWR yields 2.65%, so KBWR currently pays the higher dividend yield.
Is KBWR better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. KBWR is less concentrated, with 29.9% 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.