IVV vs MSSM
iShares Core S&P 500 ETF vs Morgan Stanley Pathway Small-Mid Cap Equity ETF
Which is better, IVV or MSSM?
Large Cap Blend against Small Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y and the full window. MSSM is less concentrated, with 6.2% of the fund in its ten largest positions against 38.1%.
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 | MSSM |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.62% |
| AUM | $882.6B | $686M |
| Dividend Yield | 1.06% | 2.67% |
| Holdings | 508 | 2,229 |
| YTD Return | +14.84%Best | +11.19% |
| 1Y Return | +18.70%Best | +15.97% |
| 3Y Return (annualized) | +22.93% | - |
| 5Y Return (annualized) | +13.91% | - |
| Volatility (annualized) | 12.3%Best | 15.3% |
| Max Drawdown | -18.8%Best | -24.2% |
| $10,000 over 1.8 years | $13,097Best | $11,773 |
| Top 10 Weight | 38.1% | 6.2%Best |
| Fund Family | iShares by BlackRock (US) | Morgan Stanley |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | May 15, 2000 | Dec 9, 2024 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 9, 2024 to Oct 13, 2026 (1.8 years).
IVV vs MSSM 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 1.8 years both funds cover.
IVV vs MSSM Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) is an ETF from Morgan Stanley. Over the past year IVV returned +18.70% while MSSM returned +15.97%. Year to date, IVV is up 14.84% versus a gain of 11.19% for MSSM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSSM has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.3% 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 -18.8% for IVV and -24.2% for MSSM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while MSSM charges 0.62%. On a $10,000 position that is $3 vs $62 annually, a gap of $59 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.67% for MSSM.
Holdings Overlap
2.4% of IVV's money is in holdings MSSM also owns. 10.2% of MSSM's money is in holdings IVV also owns.
MSSM and IVV share little of their money.
91 positions in common, counted across the 505 positions we hold weights for in IVV and 1,823 in MSSM, against full books of 508 and 2,229.
What only one of them owns
Our book lists 1,326 positions for MSSM that do not appear in our book for IVV (81.7% of the fund), and 407 for IVV that do not appear in MSSM (96.9%).
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.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MSSM | Difference |
|---|---|---|---|
| MRNAModerna therapeutics | 0.08% | 0.36% | 0.28% |
| FFIVF5 Networks Inc. | 0.04% | 0.39% | 0.35% |
| HBANHuntington Bancshares Inc./Oh | 0.05% | 0.34% | 0.29% |
| AVYAvery Dennison Corp. | 0.02% | 0.35% | 0.33% |
| EGEverest Group, Ltd. | 0.02% | 0.34% | 0.32% |
| DVNDevon Energy Corporation | 0.09% | 0.23% | 0.14% |
| HASHasbro Inc. | 0.02% | 0.30% | 0.28% |
| CHRWCH Robinson Worldwide | 0.03% | 0.29% | 0.26% |
| IVZInvesco Ltd | 0.02% | 0.28% | 0.26% |
| COHRCoherent Corp | 0.09% | 0.21% | 0.12% |
You are not choosing between two funds in isolation.
Whichever of IVV and MSSM 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 MSSM?
IVV has an expense ratio of 0.03% while MSSM charges 0.62%. IVV is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, IVV or MSSM?
Over the past year IVV returned +18.70% vs +15.97% for MSSM, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +16.17% vs +9.49% for MSSM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or MSSM?
MSSM has been the more volatile fund at 15.3% annualized versus 12.3% for IVV. Worst drawdown: IVV -18.8% vs MSSM -24.2%.
Should I hold both IVV and MSSM?
IVV and MSSM have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IVV and MSSM?
10.2% of MSSM's money is in holdings IVV also owns. 10.2% of MSSM's is in holdings IVV also owns. They hold 91 positions in common, counted across the 505 positions we hold weights for in IVV and 1,823 in MSSM.
Which pays a higher dividend, IVV or MSSM?
IVV yields 1.06% while MSSM yields 2.67%, so MSSM currently pays the higher dividend yield.
Is MSSM better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. MSSM is less concentrated, with 6.2% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.