IVV vs XSW
iShares Core S&P 500 ETF vs State Street SPDR S&P Software & Services ETF
Which is better, IVV or XSW?
Large Cap Blend against Mid Cap Growth.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and 5Y, XSW over the full window. XSW is less concentrated, with 11.2% 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 | XSW |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.35% |
| AUM | $896.5B | $473M |
| Dividend Yield | 1.10% | 0.00% |
| Holdings | 508 | 133 |
| YTD Return | +13.59%Best | +7.71% |
| 1Y Return | +17.54%Best | -1.35% |
| 3Y Return (annualized) | +22.46%Best | +16.39% |
| 5Y Return (annualized) | +13.28%Best | +2.10% |
| Volatility (annualized) | 14.1%Best | 20.9% |
| Max Drawdown | -33.9%Best | -45.4% |
| $10,000 over 5 years | $18,654Best | $11,095 |
| Top 10 Weight | 38.9% | 11.2%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Growth |
| Inception | May 15, 2000 | Sep 28, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Sep 29, 2011 to Oct 14, 2026 (15 years).
IVV vs XSW 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 15 years both funds cover.
IVV vs XSW Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P Software & Services ETF (XSW) is an ETF from State Street Investment Management. Over the past year IVV returned +17.54% while XSW returned -1.35%. Year to date, IVV is up 13.59% versus a gain of 7.71% for XSW.
Over three years, IVV compounded at +22.46% per year against +16.39% for XSW; over five years the annualized figures are +13.28% and +2.10% respectively. Across the full 15-year window we track, XSW has the edge at +15.53% annualized vs +14.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XSW has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 14.1% 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 -45.4% for XSW. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while XSW 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 0.00% for XSW.
Holdings Overlap
10.1% of IVV's money is in holdings XSW also owns. 18.9% of XSW's money is in holdings IVV also owns.
XSW and IVV share little of their money.
27 positions in common, counted across the 506 positions we hold weights for in IVV and 132 in XSW, against full books of 508 and 133.
What only one of them owns
Measured across the 506 and 132 positions we hold weights for.
IVV holds 473 positions XSW does not, 89.4% of the fund.
Largest: NVDA 8.44%, AAPL 7.29%, AMZN 3.68%, GOOGL 3.00%, AVGO 2.47%
Top Shared Holdings
| Stock | Weight in IVV | Weight in XSW | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.76% | 0.81% | 4.95% |
| PLTRPalantir Technologies Inc | 0.66% | 0.83% | 0.17% |
| PANWPalo Alto Networks, Inc | 0.49% | 0.81% | 0.32% |
| CRWDCrowdstrike Holdings Inc | 0.41% | 0.83% | 0.42% |
| CRMSalesforce Inc Crm Us Equity | 0.29% | 0.94% | 0.65% |
| NOWServicenow, Inc. | 0.22% | 0.81% | 0.59% |
| WDAYWorkday, Inc., Class A | 0.06% | 0.87% | 0.81% |
| FTNTFortinet Inc | 0.17% | 0.73% | 0.56% |
| IBMInternational Business Machines Corp. | 0.32% | 0.58% | 0.26% |
| ACNAccenture Plc | 0.20% | 0.70% | 0.50% |
You are not choosing between two funds in isolation.
Whichever of IVV and XSW 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 XSW?
IVV has an expense ratio of 0.03% while XSW charges 0.35%. IVV is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, IVV or XSW?
Over the past year IVV returned +17.54% vs -1.35% for XSW, so IVV leads on 1-year performance. Over the longest common window we track (15 years), IVV annualized +14.01% vs +15.53% for XSW. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or XSW?
XSW has been the more volatile fund at 20.9% annualized versus 14.1% for IVV. Worst drawdown: IVV -33.9% vs XSW -45.4%.
Should I hold both IVV and XSW?
IVV and XSW have a monthly-return correlation of 0.79, 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 XSW?
18.9% of XSW's money is in holdings IVV also owns. 18.9% of XSW's is in holdings IVV also owns. They hold 27 positions in common, counted across the 506 positions we hold weights for in IVV and 132 in XSW.
Which pays a higher dividend, IVV or XSW?
IVV yields 1.10% while XSW yields 0.00%, so IVV currently pays the higher dividend yield.
Is XSW better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and 5Y, XSW over the full window. XSW is less concentrated, with 11.2% 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.