Over the trailing five-year window, VOO and IVV moved almost in lockstep (daily-return correlation 1.00), so holding both adds little diversification.

Five-year annualized total returns were within 0.0 percentage points of each other (VOO 13.3%, IVV 13.3%).

The numbers, side by side

Per-fund metrics. Returns are total return (dividends reinvested, net of fees); volatility, drawdown and correlation are computed from daily closing prices over the trailing five-year window ending Aug 7, 2026.

Metric VOO IVV
5-yr annualized returntotal return, incl. dividends & fees 13.3% 13.3%
5-yr annualized volatilitystandard deviation of daily returns 16.9% 17.1%
Max drawdown (5-yr window)worst peak-to-trough decline -25.4% -25.4%
Return per unit of riskSharpe-style, 4.7% risk-free 0.51 0.51
Expense ratioannual fund cost 0.03% 0.03%

How similar are they?

Relationship metricVOO & IVV
Correlation of daily returns5-yr; 1.00 = moves identically 1.00
Sector overlapΣ min(weight) across sectors 97.1%

Where each fund is concentrated

VOO — top sectors

  • Technology38.61%
  • Financial Services11.41%
  • Communication Services9.91%

IVV — top sectors

  • Technology37.21%
  • Financial Services12.48%
  • Communication Services9.55%

Related comparisons

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Disclaimer: This content is for educational and informational purposes only and does not constitute financial, investment, or tax advice. The information presented reflects the author's opinions and analysis at the time of writing and may not be suitable for your individual circumstances. Always consult with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results. MinMaxDoc and its authors are not registered investment advisors.
Figures computed by MinMaxDoc from historical market data as of Aug 7, 2026; they will drift as markets move.