IVSX vs. IVSI

Last updated Jun 3, 2026

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

Performance

IVSX vs. IVSI - Performance Comparison

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

Returns By Period

IVSX

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

IVSI

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

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

IVSX vs. IVSI - Yearly Performance Comparison

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

Correlation

The correlation between IVSX and IVSI 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

IVSX vs. IVSI - Risk-Adjusted Trends Comparison

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

	IVSX	IVSI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.33	1.39	-1.72

Drawdowns

IVSX vs. IVSI - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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

IVSX vs. IVSI - Expense Ratio Comparison

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

Dividends

IVSX vs. IVSI - Dividend Comparison

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

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 IVSX and IVSI in my portfolio?

With a correlation of 0.92, IVSX and IVSI 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, IVSX or IVSI?

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, IVSX or IVSI?

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

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

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

What is the main difference between IVSX and IVSI?

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