IVV vs PDN
iShares Core S&P 500 ETF vs Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
Which is better, IVV or PDN?
Large Cap Blend against Mid Cap Growth.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. PDN is less concentrated, with 2.3% 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 | PDN |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.47% |
| AUM | $896.5B | $348M |
| Dividend Yield | 1.10% | 3.28% |
| Holdings | 508 | 1,591 |
| YTD Return | +13.59%Best | +8.82% |
| 1Y Return | +17.54%Best | +15.27% |
| 3Y Return (annualized) | +22.46%Best | +19.50% |
| 5Y Return (annualized) | +13.28%Best | +6.62% |
| Volatility (annualized) | 15.6%Best | 18.1% |
| Max Drawdown | -56.5%Best | -60.1% |
| $10,000 over 5 years | $18,654Best | $13,778 |
| Top 10 Weight | 38.9% | 2.3%Best |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Growth |
| Inception | May 15, 2000 | Sep 27, 2007 |
Volatility and max drawdown are measured over the window both funds cover: Sep 27, 2007 to Oct 14, 2026 (19 years).
IVV vs PDN 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 years both funds cover.
IVV vs PDN Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF (PDN) is an ETF from Invesco (US). Over the past year IVV returned +17.54% while PDN returned +15.27%. Year to date, IVV is up 13.59% versus a gain of 8.82% for PDN.
Over three years, IVV compounded at +22.46% per year against +19.50% for PDN; over five years the annualized figures are +13.28% and +6.62% respectively. Across the full 19-year window we track, IVV has the edge at +9.32% annualized vs +3.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PDN has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 15.6% 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 -56.5% for IVV and -60.1% for PDN. 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
IVV charges 0.03% per year while PDN charges 0.47%. On a $10,000 position that is $3 vs $47 annually, a gap of $44 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 3.28% for PDN.
Holdings Overlap
0.1% of IVV's money is in holdings PDN also owns. 0.1% of PDN's money is in holdings IVV also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 506 positions we hold weights for in IVV and 1,550 in PDN, against full books of 508 and 1,591.
What only one of them owns
Our book lists 35 positions for PDN that do not appear in our book for IVV (2.4% of the fund), and 499 for IVV that do not appear in PDN (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.
Top Shared Holdings
| Stock | Weight in IVV | Weight in PDN | Difference |
|---|---|---|---|
| SRESempra Common Stock | 0.08% | 0.05% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of IVV and PDN 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 PDN?
IVV has an expense ratio of 0.03% while PDN charges 0.47%. IVV is the cheaper option, by $44 a year on a $10,000 investment.
Which performed better, IVV or PDN?
Over the past year IVV returned +17.54% vs +15.27% for PDN, so IVV leads on 1-year performance. Over the longest common window we track (19 years), IVV annualized +9.32% vs +3.93% for PDN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PDN?
PDN has been the more volatile fund at 18.1% annualized versus 15.6% for IVV. Worst drawdown: IVV -56.5% vs PDN -60.1%.
Should I hold both IVV and PDN?
IVV and PDN 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, IVV or PDN?
IVV yields 1.10% while PDN yields 3.28%, so PDN currently pays the higher dividend yield.
Is PDN better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. PDN is less concentrated, with 2.3% 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.