Dividend comparison
VOO vs IVV: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard S&P 500 ETF and iShares Core S&P 500 ETF, side by side. Updated October 24, 2026.
- Fees. Both charge about 0.03% a year, so cost is not what separates them.
- Income. Their trailing yields are almost the same: 1.06% for VOO and 1.10% for IVV. Both pay quarterly.
- Performance. Over the last 5 years, VOO returned 79.4% versus 77.8% for IVV, with dividends reinvested. $10,000 would have grown to $17,941 in VOO and $17,776 in IVV.
- Risk. Their worst declines over the last 5 years were similar: -24.5% for VOO and -24.5% for IVV from peak to trough.
- Diversification. VOO holds 505 positions and IVV holds 504. The ten largest positions make up 39.1% of VOO and 37.8% of IVV.
- Overlap. At least 72% of the two portfolios overlap by weight, across 94 shared holdings. Owning both adds little diversification.
- Dividend growth. IVV grew its yearly payout 8.8% a year over the last 4 years, versus 6.8% for VOO.
Bottom line: IVV has the edge on these figures, with faster dividend growth. VOO does not lead on any of the measures compared here. With 72% overlap, most investors would hold one or the other rather than both.
| Metric | VOO Vanguard S&P 500 ETF | IVV iShares Core S&P 500 ETF |
|---|---|---|
| Dividend yield (TTM) | 1.06% | 1.10% |
| Dividend / share (TTM) | $7.43 | $8.40 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $1.8226 on Sep 30, 2026 | $2.2026 on Sep 18, 2026 |
| Ex-dividend date | Sep 28, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 6.8% over 4 yrs | 8.8% over 4 yrs |
| Price | $698.58 | $763.25 |
| Dividend growth streak | 5 years | 4 years |
| Beta | 1.01 | 1.00 |
| Max drawdown (5Y) | -24.5% | -24.5% |
| Market cap | $1.70T | $880.18B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.03% |
| Assets under management | $1.70T | $878.19B |
| Number of holdings | 505 | 504 |
| Top 10 concentration | 39.1% | 37.8% |
VOO
$8.86/mo
$106 /yr at 1.06% yield
IVV
$9.17/mo
$110 /yr at 1.10% yield
| Year | VOO | IVV |
|---|---|---|
| 2025 | $7.0678 | $8.0399 |
| 2024 | $6.7035 | $7.6453 |
| 2023 | $6.3572 | $6.8988 |
| 2022 | $5.9467 | $6.3933 |
| 2021 | $5.4367 | $5.7272 |
Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.
What VOO vs IVV actually do
It replicates the index in full and makes no attempt to pick winners, so its return is the index return less a very small fee. As an open-end fund it can lend securities and put incoming dividends back to work inside the portfolio between the quarterly payment dates. Dividends are whatever the underlying companies happen to pay, which means yield is an output of the strategy and never a target of it.
Suits almost any long-horizon US equity allocation, including as the growth engine sitting behind higher-yielding income positions. Not a fit for someone whose portfolio needs to produce meaningful current cash flow.
Core holding
It holds the full index at market-cap weights and, like VOO, is structured as an open-end fund, so it can reinvest income internally and lend out securities. Differences against the other S&P 500 trackers come down to fee, share price, spread and where the fund trades commission-free, not to what is inside it. Tracking difference between the cheap S&P 500 funds is small enough that platform and tax considerations usually decide the choice.
Suits an investor who wants core S&P 500 exposure and already holds other iShares funds or trades on a platform where iShares is cheapest. There is no income case for it beyond the index's own dividends.
Core holding
| Period | VOO | IVV |
|---|---|---|
| 1 month | -1.02% | -1.03% |
| 3 months | 3.21% | 2.92% |
| Year to date | 12.36% | 11.43% |
| 1 year | 14.44% | 13.08% |
| 3 years | 87.36% | 85.62% |
| 5 years | 79.41% | 77.76% |
- VOO
- IVV
Both series indexed to 100 on 2021-10-23 using the adjusted closing price series. Past performance does not guarantee future results.
- VOO
- IVV
| Largest shared holdings | VOO weight | IVV weight |
|---|---|---|
| NVDANVIDIA Corp | 8.39% | 7.76% |
| AAPLApple Inc | 7.38% | 7.68% |
| MSFTMicrosoft Corp | 5.78% | 5.85% |
| AMZNAmazon.com Inc | 3.71% | 3.71% |
| GOOGLAlphabet Inc | 3.07% | 2.88% |
| AVGOBroadcom Inc | 2.54% | 2.32% |
| GOOGAlphabet Inc | 2.45% | 2.30% |
| METAMeta Platforms Inc | 2.43% | 2.16% |
| TSLATesla Inc | 1.52% | 1.60% |
| MUMicron Technology Inc | 1.83% | 1.46% |
VOO505 holdings total
Quick verdict
IVV has the edge on these figures, with faster dividend growth. VOO does not lead on any of the measures compared here. With 72% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is VOO or IVV better for dividend income?
What is the difference between VOO and IVV?
Which is cheaper, VOO or IVV?
Which has performed better, VOO or IVV?
Which is riskier, VOO or IVV?
How much do VOO and IVV overlap?
How often do VOO and IVV pay dividends?
How much income does $10,000 in VOO vs IVV generate?
Can I hold both VOO and IVV?
Where can I compare VOO vs IVV with my full portfolio?
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.