IVV vs TMSL
iShares Core S&P 500 ETF vs T. Rowe Price Small-Mid Cap ETF
Which is better, IVV or TMSL?
Large Cap Blend against Mid Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. TMSL is less concentrated, with 9.4% 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 | TMSL |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.55% |
| AUM | $896.5B | $3.1B |
| Dividend Yield | 1.10% | 0.50% |
| Holdings | 508 | 287 |
| YTD Return | +13.59%Best | +10.70% |
| 1Y Return | +17.54%Best | +15.80% |
| 3Y Return (annualized) | +22.46%Best | +18.37% |
| 5Y Return (annualized) | +13.28% | - |
| Volatility (annualized) | 12.5%Best | 16.6% |
| Max Drawdown | -18.8%Best | -24.7% |
| $10,000 over 3.3 years | $18,106Best | $16,057 |
| Top 10 Weight | 38.9% | 9.4%Best |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| Inception | May 15, 2000 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Oct 14, 2026 (3.3 years).
IVV vs TMSL 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 3.3 years both funds cover.
IVV vs TMSL Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and T. Rowe Price Small-Mid Cap ETF (TMSL) is an ETF from T.Rowe Price. Over the past year IVV returned +17.54% while TMSL returned +15.80%. Year to date, IVV is up 13.59% versus a gain of 10.70% for TMSL.
Over three years, IVV compounded at +22.46% per year against +18.37% for TMSL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMSL has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 12.5% 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 -18.8% for IVV and -24.7% for TMSL. 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 TMSL charges 0.55%. On a $10,000 position that is $3 vs $55 annually, a gap of $52 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.50% for TMSL.
Holdings Overlap
0.9% of IVV's money is in holdings TMSL also owns. 14.5% of TMSL's money is in holdings IVV also owns.
TMSL and IVV share little of their money.
33 positions in common, counted across the 506 positions we hold weights for in IVV and 284 in TMSL, against full books of 508 and 287.
What only one of them owns
Our book lists 230 positions for TMSL that do not appear in our book for IVV (78.2% of the fund), and 467 for IVV that do not appear in TMSL (98.6%).
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 TMSL | Difference |
|---|---|---|---|
| CPAYCorpay Inc | 0.04% | 0.90% | 0.86% |
| CRLCharles River Laboratories International Inc | 0.02% | 0.79% | 0.77% |
| RLRalph Lauren Corp. Class A | 0.02% | 0.77% | 0.75% |
| ZBRAZebra Technologies Corp | 0.03% | 0.75% | 0.72% |
| TDYTeledyne Technologies Inc | 0.04% | 0.73% | 0.69% |
| VTRSViatris | 0.03% | 0.74% | 0.71% |
| TXTTextron Inc. | 0.02% | 0.69% | 0.67% |
| KEYKeycorp | 0.03% | 0.66% | 0.63% |
| ULTAUlta Beauty Inc. | 0.03% | 0.62% | 0.59% |
| SWKSSkyworks Solutions Inc. | 0.02% | 0.62% | 0.60% |
You are not choosing between two funds in isolation.
Whichever of IVV and TMSL 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 TMSL?
IVV has an expense ratio of 0.03% while TMSL charges 0.55%. IVV is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, IVV or TMSL?
Over the past year IVV returned +17.54% vs +15.80% for TMSL, so IVV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or TMSL?
TMSL has been the more volatile fund at 16.6% annualized versus 12.5% for IVV. Worst drawdown: IVV -18.8% vs TMSL -24.7%.
Should I hold both IVV and TMSL?
IVV and TMSL 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 TMSL?
14.5% of TMSL's money is in holdings IVV also owns. 14.5% of TMSL's is in holdings IVV also owns. They hold 33 positions in common, counted across the 506 positions we hold weights for in IVV and 284 in TMSL.
Which pays a higher dividend, IVV or TMSL?
IVV yields 1.10% while TMSL yields 0.50%, so IVV currently pays the higher dividend yield.
Is TMSL better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. TMSL is less concentrated, with 9.4% 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.