IVSI vs. IVSX

Last updated Jun 3, 2026

IVSI (Applied Finance IVS International Large ETF) and IVSX (Applied Finance IVS International SMID ETF) are both exchange-traded funds - IVSI is a Foreign Large Cap Equities fund actively managed by Applied Finance, while IVSX is a Foreign Small & Mid Cap Equities fund actively managed by Applied Finance. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. IVSI charges 0.65%/yr vs 0.75%/yr for IVSX.

Performance

IVSI vs. IVSX - 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 International SMID ETF (IVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVSI

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

IVSX

• 1D: -0.10%
• 1M: 2.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVSI vs. IVSX - Yearly Performance Comparison

	2026 (YTD)
IVSI Applied Finance IVS International Large ETF	0.35%
IVSX Applied Finance IVS International SMID ETF	-1.94%

Correlation

The correlation between IVSI and IVSX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 23, 2026	0.92

Return for Risk

IVSI vs. IVSX - 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 International SMID ETF (IVSX). 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	IVSX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	-0.33	+1.72

Drawdowns

IVSI vs. IVSX - Drawdown Comparison

The maximum IVSI drawdown since its inception was -11.73%, roughly equal to the maximum IVSX drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for IVSI and IVSX.

Drawdown Indicators

	IVSI	IVSX	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-11.96%	+0.23%
Current Drawdown Current decline from peak	-0.71%	-2.65%	+1.94%
Average Drawdown Average peak-to-trough decline	-2.61%	-5.02%	+2.41%

Volatility

Volatility by Period

	IVSI	IVSX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	20.73%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	20.73%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	20.73%	-2.92%

IVSI vs. IVSX - Expense Ratio Comparison

IVSI has a 0.65% expense ratio, which is lower than IVSX's 0.75% expense ratio.

Dividends

IVSI vs. IVSX - Dividend Comparison

IVSI's dividend yield for the trailing twelve months is around 0.04%, while IVSX has not paid dividends to shareholders.

Position	TTM	2025
IVSI Applied Finance IVS International Large ETF	0.04%	0.04%
IVSX Applied Finance IVS International SMID ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVSI and IVSX in my portfolio?

With a correlation of 0.92, IVSI and IVSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IVSI or IVSX?

On fees, IVSI is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSI or IVSX?

IVSI is cheaper with a 0.65% expense ratio, compared with 0.75% for IVSX.

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

IVSI has the higher dividend yield at 0.04%, compared with 0.00% for IVSX.

What is the main difference between IVSI and IVSX?

IVSI is categorized as Foreign Large Cap Equities, while IVSX is Foreign Small & Mid Cap Equities. Their fees differ too: 0.65% for IVSI and 0.75% for IVSX.