VLU vs. IVE

Last updated Jun 24, 2026

VLU (SPDR S&P 1500 Value Tilt ETF) and IVE (iShares S&P 500 Value ETF) are both Large Cap Value Equities funds - VLU tracks the S&P 1500 Low Valuation Tilt Index while IVE tracks the S&P 500 Value Index. Both are passively managed. Over the past 10 years, VLU returned 14.20%/yr vs 12.03%/yr for IVE. A 0.74 correlation means they provide meaningful diversification when combined. VLU charges 0.12%/yr vs 0.18%/yr for IVE.

Performance

VLU vs. IVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 1500 Value Tilt ETF (VLU) and iShares S&P 500 Value ETF (IVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLU achieves a 13.07% return, which is significantly higher than IVE's 7.48% return. Over the past 10 years, VLU has outperformed IVE with an annualized return of 14.20%, while IVE has yielded a comparatively lower 12.03% annualized return.

VLU

• 1D: -0.12%
• 1M: 0.59%
• YTD: 13.07%
• 6M: 12.43%
• 1Y: 27.85%
• 3Y*: 20.19%
• 5Y*: 12.35%
• 10Y*: 14.20%

IVE

• 1D: -0.27%
• 1M: -0.41%
• YTD: 7.48%
• 6M: 6.87%
• 1Y: 19.99%
• 3Y*: 15.05%
• 5Y*: 11.07%
• 10Y*: 12.03%

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

VLU vs. IVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLU SPDR S&P 1500 Value Tilt ETF	13.07%	16.70%	17.24%	17.18%	-8.24%	30.95%	9.91%	26.20%	-7.89%	18.16%
IVE iShares S&P 500 Value ETF	7.48%	13.02%	12.03%	22.07%	-5.41%	24.72%	1.22%	31.62%	-9.22%	15.24%

Correlation

The correlation between VLU and IVE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012	0.74

The correlation between VLU and IVE shifts across timeframes, from 0.74 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

VLU vs. IVE - Sectors Allocation Comparison

Sectors	VLU	IVE
Technology	19.1%	22.4%
Financial Services	18.4%	14.6%
Healthcare	11.5%	11.5%
Consumer Cyclical	10.7%	11.1%
Communication Services	8.8%	3.2%
Industrials	8.3%	10.4%
Consumer Defensive	7.1%	8.9%
Energy	6.6%	7.0%
Utilities	3.5%	4.3%
Real Estate	3.4%	3.4%
Basic Materials	2.6%	3.3%

Return for Risk

VLU vs. IVE — Risk / Return Rank

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

VLU

VLU Risk / Return Rank: 84
VLU Sharpe Ratio Rank: 84
VLU Sortino Ratio Rank: 84
VLU Omega Ratio Rank: 82
VLU Calmar Ratio Rank: 84
VLU Martin Ratio Rank: 86

IVE

IVE Risk / Return Rank: 65
IVE Sharpe Ratio Rank: 64
IVE Sortino Ratio Rank: 64
IVE Omega Ratio Rank: 62
IVE Calmar Ratio Rank: 68
IVE Martin Ratio Rank: 69

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.

VLU vs. IVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) and iShares S&P 500 Value ETF (IVE). 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.

	VLU	IVE	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.03	+0.52
Sortino ratio: Return per unit of downside risk	3.55	2.82	+0.73
Omega ratio: Gain probability vs. loss probability	1.47	1.36	+0.10
Calmar ratio: Return relative to maximum drawdown	4.41	3.24	+1.17
Martin ratio: Return relative to average drawdown	17.56	12.29	+5.27

VLU vs. IVE - Sharpe Ratio Comparison

The current VLU Sharpe Ratio is 2.55, which is comparable to the IVE Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VLU and IVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VLU vs. IVE - Drawdown Comparison

The maximum VLU drawdown since its inception was -37.39%, smaller than the maximum IVE drawdown of -61.32%. Use the drawdown chart below to compare losses from any high point for VLU and IVE.

Drawdown Indicators

	VLU	IVE	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-61.32%	+23.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-6.19%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.22%	-17.58%	+1.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.55%	-18.04%	-1.51%
Max Drawdown (10Y) Largest decline over 10 years	-37.39%	-37.04%	-0.35%
Current Drawdown Current decline from peak	-1.37%	-1.21%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.73%	-10.08%	+6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.63%	-0.04%

Volatility

VLU vs. IVE - Volatility Comparison

SPDR S&P 1500 Value Tilt ETF (VLU) and iShares S&P 500 Value ETF (IVE) have volatilities of 2.94% and 2.96%, 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.

Volatility by Period

	VLU	IVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.96%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	7.33%	+0.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	9.93%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	14.39%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	16.93%	+1.13%

VLU vs. IVE - Expense Ratio Comparison

VLU has a 0.12% expense ratio, which is lower than IVE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VLU vs. IVE - Dividend Comparison

VLU's dividend yield for the trailing twelve months is around 1.64%, more than IVE's 1.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVE iShares S&P 500 Value ETF	1.57%	1.61%	2.04%	1.65%	2.10%	1.81%	2.37%	2.11%	2.74%	2.12%	2.26%	2.44%
VLU SPDR S&P 1500 Value Tilt ETF	1.64%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%

Frequently Asked Questions

Can I hold both VLU and IVE in my portfolio?

With a correlation of 0.94, VLU and IVE 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 is riskier, VLU or IVE?

IVE has higher volatility (2.96%) compared to VLU (2.94%). In terms of maximum drawdown, VLU dropped -37.39% vs IVE's -61.32%.

Which ETF is better, VLU or IVE?

On 10-year performance, VLU leads with 14.20% vs 12.03% for IVE. On fees, VLU is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLU or IVE?

Over the 10-year period, VLU has performed better with a 14.20% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLU or IVE?

VLU is cheaper with a 0.12% expense ratio, compared with 0.18% for IVE.

Which ETF pays a higher dividend yield, VLU or IVE?

VLU has the higher dividend yield at 1.64%, compared with 1.57% for IVE.

What is the main difference between VLU and IVE?

VLU tracks S&P 1500 Low Valuation Tilt Index, while IVE tracks S&P 500 Value Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for VLU and 0.18% for IVE.

Which has better risk-adjusted returns?

VLU currently has the higher Sharpe Ratio (2.55 vs 2.03), 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.