IVV vs TCV
iShares Core S&P 500 ETF vs Towle Small-Cap Value ETF
Which is better, IVV or TCV?
Large Cap Blend against Large Cap Value.
IVV has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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 | TCV |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.85% |
| AUM | $896.5B | $202M |
| Dividend Yield | 1.10% | 0.59% |
| Holdings | 508 | 105 |
| YTD Return | +13.59% | +23.99%Best |
| 1Y Return | +17.54% | +27.95%Best |
| 3Y Return (annualized) | +22.46% | - |
| 5Y Return (annualized) | +13.28% | - |
| Volatility (annualized) | 11.9%Best | 16.4% |
| Max Drawdown | -8.9%Best | -12.2% |
| $10,000 over 1.2 years | $12,342 | $12,949Best |
| Top 10 Weight | 38.9% | 27.7%Best |
| Fund Family | iShares by BlackRock (US) | Towle |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | May 15, 2000 | Jul 16, 2025 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 14, 2026 (1.2 years).
IVV vs TCV 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 1.2 years both funds cover.
IVV vs TCV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Towle Small-Cap Value ETF (TCV) is an ETF from Towle. Over the past year IVV returned +17.54% while TCV returned +27.95%. Year to date, IVV is up 13.59% versus a gain of 23.99% for TCV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TCV has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 11.9% 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 -8.9% for IVV and -12.2% for TCV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while TCV charges 0.85%. On a $10,000 position that is $3 vs $85 annually, a gap of $82 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.59% for TCV.
Holdings Overlap
1.1% of TCV's money is in holdings IVV also owns.
TCV and IVV share little of their money.
1 positions in common, counted across the 506 positions we hold weights for in IVV and 51 in TCV, against full books of 508 and 105.
What only one of them owns
Our book lists 48 positions for TCV that do not appear in our book for IVV (95.1% of the fund), and 499 for IVV that do not appear in TCV (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 TCV | Difference |
|---|---|---|---|
| LULULululemon Athletica, Inc | 0.02% | 1.06% | 1.04% |
You are not choosing between two funds in isolation.
Whichever of IVV and TCV 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 TCV?
IVV has an expense ratio of 0.03% while TCV charges 0.85%. IVV is the cheaper option, by $82 a year on a $10,000 investment.
Which performed better, IVV or TCV?
Over the past year IVV returned +17.54% vs +27.95% for TCV, so TCV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +19.17% vs +24.03% for TCV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TCV?
TCV has been the more volatile fund at 16.4% annualized versus 11.9% for IVV. Worst drawdown: IVV -8.9% vs TCV -12.2%.
Should I hold both IVV and TCV?
IVV and TCV have a monthly-return correlation of 0.62, 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 TCV?
1.1% of TCV's money is in holdings IVV also owns. 1.1% of TCV's is in holdings IVV also owns. They hold 1 positions in common, counted across the 506 positions we hold weights for in IVV and 51 in TCV.
Which pays a higher dividend, IVV or TCV?
IVV yields 1.10% while TCV yields 0.59%, so IVV currently pays the higher dividend yield.
Is TCV better than IVV?
IVV has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% 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.