IIGD vs. IVV

Last updated Jun 4, 2026

IIGD (Invesco Investment Grade Defensive ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IIGD is a Corporate Bonds fund tracking the Invesco Investment Grade Defensive Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, IIGD returned 1.63%/yr vs 13.88%/yr for IVV. At a 0.15 correlation, their price movements are largely independent. IIGD charges 0.13%/yr vs 0.03%/yr for IVV.

Performance

IIGD vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Investment Grade Defensive ETF (IIGD) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IIGD achieves a 0.25% return, which is significantly lower than IVV's 10.85% return.

IIGD

• 1D: -0.10%
• 1M: 0.05%
• YTD: 0.25%
• 6M: 0.49%
• 1Y: 4.13%
• 3Y*: 5.07%
• 5Y*: 1.63%
• 10Y*: —

IVV

• 1D: -0.76%
• 1M: 4.97%
• YTD: 10.85%
• 6M: 10.87%
• 1Y: 28.00%
• 3Y*: 22.43%
• 5Y*: 13.88%
• 10Y*: 15.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IIGD vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IIGD Invesco Investment Grade Defensive ETF	0.25%	7.11%	3.90%	5.71%	-7.27%	-1.42%	6.30%	7.40%	0.86%
IVV iShares Core S&P 500 ETF	10.85%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-12.14%

Correlation

The correlation between IIGD and IVV is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018	0.15

The correlation between IIGD and IVV shifts across timeframes, from 0.15 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

IIGD vs. IVV - Sectors Allocation Comparison

Sectors	IIGD	IVV
Financial Services	16.7%	11.8%
Industrials	11.6%	8.3%
Technology	8.7%	35.6%
Consumer Defensive	5.6%	4.9%
Healthcare	5.5%	8.5%
Energy	5.5%	3.5%
Consumer Cyclical	3.0%	10.1%
Real Estate	3.0%	1.9%
Communication Services	2.4%	11.2%
Basic Materials	1.8%	1.8%
Utilities	1.3%	2.4%

Return for Risk

IIGD vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IIGD

IIGD Risk / Return Rank: 54
IIGD Sharpe Ratio Rank: 53
IIGD Sortino Ratio Rank: 58
IIGD Omega Ratio Rank: 55
IIGD Calmar Ratio Rank: 50
IIGD Martin Ratio Rank: 51

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 70
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IIGD vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Investment Grade Defensive ETF (IIGD) and iShares Core S&P 500 ETF (IVV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	IIGD	IVV	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.39	-0.57
Sortino ratio: Return per unit of downside risk	2.75	3.25	-0.50
Omega ratio: Gain probability vs. loss probability	1.34	1.43	-0.09
Calmar ratio: Return relative to maximum drawdown	2.49	3.17	-0.68
Martin ratio: Return relative to average drawdown	8.72	14.71	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIGD vs. IVV - Sharpe Ratio Comparison

The current IIGD Sharpe Ratio is 1.81, which is comparable to the IVV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IIGD and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IIGD	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.39	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.83	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.45	+0.32

Drawdowns

IIGD vs. IVV - Drawdown Comparison

The maximum IIGD drawdown since its inception was -11.43%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IIGD and IVV.

Drawdown Indicators

	IIGD	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-11.43%	-55.25%	+43.82%
Max Drawdown (1Y) Largest decline over 1 year	-1.67%	-8.89%	+7.22%
Max Drawdown (3Y) Largest decline over 3 years	-2.14%	-18.75%	+16.61%
Max Drawdown (5Y) Largest decline over 5 years	-11.43%	-24.53%	+13.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-0.80%	-0.76%	-0.04%
Average Drawdown Average peak-to-trough decline	-2.42%	-10.78%	+8.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	1.91%	-1.44%

Volatility

IIGD vs. IVV - Volatility Comparison

The current volatility for Invesco Investment Grade Defensive ETF (IIGD) is 0.75%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.87%. This indicates that IIGD experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIGD	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	2.87%	-2.12%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	8.90%	-7.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.29%	11.80%	-9.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.66%	16.88%	-13.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.70%	18.05%	-14.35%

IIGD vs. IVV - Expense Ratio Comparison

IIGD has a 0.13% expense ratio, which is higher than IVV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IIGD vs. IVV - Dividend Comparison

IIGD's dividend yield for the trailing twelve months is around 4.28%, more than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IIGD Invesco Investment Grade Defensive ETF	4.28%	4.25%	4.13%	3.74%	1.73%	1.77%	3.21%	2.44%	1.23%	0.00%	0.00%	0.00%
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Frequently Asked Questions

Can I hold both IIGD and IVV in my portfolio?

IIGD and IVV have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IIGD or IVV?

IVV has higher volatility (2.87%) compared to IIGD (0.75%). In terms of maximum drawdown, IIGD dropped -11.43% vs IVV's -55.25%.

Which ETF is better, IIGD or IVV?

On 5-year performance, IVV leads with 13.88% vs 1.63% for IIGD. On fees, IVV is cheaper at 0.03% per year. On volatility, IIGD has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IIGD or IVV?

Over the 5-year period, IVV has performed better with a 13.88% return vs 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IIGD or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.13% for IIGD.

Which ETF pays a higher dividend yield, IIGD or IVV?

IIGD has the higher dividend yield at 4.28%, compared with 1.06% for IVV.

What is the main difference between IIGD and IVV?

IIGD is categorized as Corporate Bonds, while IVV is S&P 500. IIGD tracks Invesco Investment Grade Defensive Index, while IVV tracks S&P 500 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.13% for IIGD and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.39 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.