IVV vs. FXAIX
IVV (iShares Core S&P 500 ETF) and FXAIX (Fidelity 500 Index Fund) are both S&P 500 funds tracking the S&P 500 Index, from iShares and Fidelity respectively. Both are passively managed. Over the past 10 years, IVV returned 15.53%/yr vs 15.53%/yr for FXAIX. With a 1.00 correlation, they move nearly in lockstep. IVV charges 0.03%/yr vs 0.02%/yr for FXAIX.
Performance
IVV vs. FXAIX - Performance Comparison
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Returns By Period
In the year-to-date period, IVV achieves a 10.10% return, which is significantly higher than FXAIX's 9.01% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: IVV at 15.53% and FXAIX at 15.53%.
IVV
- 1D
- 1.01%
- 1M
- 2.03%
- YTD
- 10.10%
- 6M
- 11.31%
- 1Y
- 26.80%
- 3Y*
- 20.93%
- 5Y*
- 14.07%
- 10Y*
- 15.53%
FXAIX
- 1D
- -1.22%
- 1M
- 1.02%
- YTD
- 9.01%
- 6M
- 10.18%
- 1Y
- 25.55%
- 3Y*
- 20.55%
- 5Y*
- 13.85%
- 10Y*
- 15.53%
IVV vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 10.10% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
FXAIX Fidelity 500 Index Fund | 9.01% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between IVV and FXAIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 1.00 |
The correlation between IVV and FXAIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
IVV vs. FXAIX — Risk / Return Rank
IVV
FXAIX
IVV vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) and Fidelity 500 Index Fund (FXAIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IVV | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.88 | +0.15 |
| Martin ratioReturn relative to average drawdown | 13.62 | 13.04 | +0.58 |
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Drawdowns
IVV vs. FXAIX - Drawdown Comparison
The maximum IVV drawdown since its inception was -55.25%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for IVV and FXAIX.
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Drawdown Indicators
| IVV | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.25% | -33.79% | -21.46% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -8.89% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -18.76% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.53% | -24.50% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -33.79% | -0.11% |
Current DrawdownCurrent decline from peak | -1.43% | -2.42% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -3.79% | -6.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.96% | +0.01% |
Volatility
IVV vs. FXAIX - Volatility Comparison
iShares Core S&P 500 ETF (IVV) and Fidelity 500 Index Fund (FXAIX) have volatilities of 4.75% and 4.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVV | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 4.71% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 9.82% | 9.86% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.39% | 12.46% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 17.01% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 18.11% | -0.02% |
IVV vs. FXAIX - Expense Ratio Comparison
IVV has a 0.03% expense ratio, which is higher than FXAIX's 0.02% 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
IVV vs. FXAIX - Dividend Comparison
IVV's dividend yield for the trailing twelve months is around 1.09%, more than FXAIX's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXAIX Fidelity 500 Index Fund | 1.05% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
IVV iShares Core S&P 500 ETF | 1.09% | 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
With a correlation of 0.99, IVV and FXAIX 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.
IVV has higher volatility (4.75%) compared to FXAIX (4.71%). In terms of maximum drawdown, IVV dropped -55.25% vs FXAIX's -33.79%.
IVV currently has the higher Sharpe Ratio (2.17 vs 2.06), 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.
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