IVSI vs. IVSS

Last updated Jun 3, 2026

IVSI (Applied Finance IVS International Large ETF) and IVSS (Applied Finance IVS US SMID ETF) are both exchange-traded funds - IVSI is a Foreign Large Cap Equities fund actively managed by Applied Finance, while IVSS is a Mid Cap Blend Equities fund actively managed by Applied Finance. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. IVSI charges 0.65%/yr vs 0.59%/yr for IVSS.

Performance

IVSI vs. IVSS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS International Large ETF (IVSI) and Applied Finance IVS US SMID ETF (IVSS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSI achieves a 10.20% return, which is significantly lower than IVSS's 12.86% return.

IVSI

• 1D: 0.30%
• 1M: 2.96%
• YTD: 10.20%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVSS

• 1D: 0.11%
• 1M: 1.57%
• YTD: 12.86%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVSI vs. IVSS - Yearly Performance Comparison

	2026 (YTD)	2025
IVSI Applied Finance IVS International Large ETF	10.20%	0.53%
IVSS Applied Finance IVS US SMID ETF	12.86%	-2.84%

Correlation

The correlation between IVSI and IVSS is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.62

Return for Risk

IVSI vs. IVSS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International Large ETF (IVSI) and Applied Finance IVS US SMID ETF (IVSS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IVSI	IVSS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	1.88	-0.48

Drawdowns

IVSI vs. IVSS - Drawdown Comparison

The maximum IVSI drawdown since its inception was -11.73%, which is greater than IVSS's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for IVSI and IVSS.

Drawdown Indicators

	IVSI	IVSS	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-8.31%	-3.42%
Current Drawdown Current decline from peak	-0.71%	0.00%	-0.71%
Average Drawdown Average peak-to-trough decline	-2.61%	-1.85%	-0.76%

Volatility

Volatility by Period

	IVSI	IVSS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	15.18%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	15.18%	+2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	15.18%	+2.63%

IVSI vs. IVSS - Expense Ratio Comparison

IVSI has a 0.65% expense ratio, which is higher than IVSS's 0.59% expense ratio.

Dividends

IVSI vs. IVSS - Dividend Comparison

IVSI's dividend yield for the trailing twelve months is around 0.04%, less than IVSS's 0.07% yield.

Position	TTM	2025
IVSI Applied Finance IVS International Large ETF	0.04%	0.04%
IVSS Applied Finance IVS US SMID ETF	0.07%	0.07%

Frequently Asked Questions

Can I hold both IVSI and IVSS in my portfolio?

IVSI and IVSS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSI or IVSS?

On fees, IVSS is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSI or IVSS?

IVSS is cheaper with a 0.59% expense ratio, compared with 0.65% for IVSI.

Which ETF pays a higher dividend yield, IVSI or IVSS?

IVSS has the higher dividend yield at 0.07%, compared with 0.04% for IVSI.

What is the main difference between IVSI and IVSS?

IVSI is categorized as Foreign Large Cap Equities, while IVSS is Mid Cap Blend Equities. Their fees differ too: 0.65% for IVSI and 0.59% for IVSS.