VOOvs IVV

Quick verdict

Vanguard S&P 500 ETF (VOO) and iShares Core S&P 500 ETF (IVV) are often compared by investors building a core portfolio. Their holdings overlap by roughly 25.8% (moderate overlap), sharing 7 of their top positions. neither clearly is cheaper at 0.03% vs 0.03%, neither clearly pays more income, and IVV has the stronger recent track record. On balance IVV scores higher, but if overlap is high you likely only need one of the two.

Holdings overlap

VOO and IVV overlap by about 25.8% across their largest holdings, which is moderate. There is meaningful shared exposure but also genuine differences, so pairing them is defensible if you want a tilt.

2-year relative performance

At-a-glance comparison

Cost

neither clearly is the lower-cost fund. VOO charges an expense ratio of 0.03% versus 0.03% for IVV. On a $10,000 position that is about $3 vs $3 per year — small, but it compounds over decades.

Income & yield

VOO yields 1.3% and IVV yields 1.3%, so neither clearly is the stronger choice for income-focused investors. Higher yield can reflect a value or covered-call strategy rather than simply "more free money," so check the category: US Large-Cap Blend vs US Large-Cap Blend.

Performance

Over five years VOO has returned 5.2% annualised against 14.7% for IVV; on a three-year basis it is 8.2% vs 14.3%. IVV leads recently, though past performance does not predict future results and is heavily influenced by sector weightings.

Structure & diversification

VOO holds about 209 positions (US Large-Cap Blend, Vanguard); IVV holds about 450 (US Large-Cap Blend, iShares). IVV is the more diversified by raw holding count, and AUM is 283.8B vs 24.3B — larger funds tend to be more liquid with tighter spreads.

Which ETF fits which investor

For the lowest cost, choose VOO. For the most income, VOO. For growth exposure, IVV. Given 25.8% overlap, holding both mainly makes sense if you specifically want to tilt toward one strategy — otherwise pick the single fund that matches your goal. This is a factual comparison, not advice.

• Lowest cost: VOO
• Most income: VOO
• Growth exposure: IVV

Frequently asked questions

How much do VOO and IVV overlap?

Their largest holdings overlap by approximately 25.8% (moderate), sharing 7 top positions. There is room for both to add diversification.

Which is cheaper, VOO or IVV?

neither clearly is cheaper, with an expense ratio of 0.03% versus 0.03%.

Which has the higher dividend yield?

VOO yields 1.3% and IVV yields 1.3%, so neither clearly pays more income.

Should I own both VOO and IVV?

With 25.8% overlap, owning both can be reasonable if you want to combine their different exposures.

Related ETF comparisons

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• VOO vs VTI