Skip to content
etf.net

IVOV vs SPYV

Vanguard S&P Mid-Cap 400 Value ETF

IVOVBNYSE Arca

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

Expense ratio

SPYV −0.06pt a year

IVOV0.10%SPYV0.04%

Avg volume · 30D

SPYV 108.7×the volume

IVOV21.1KSPYV2.29M

10Y return · a year

SPYV +1.8pt

IVOV+10.3%SPYV+12.1%

IVOV vs SPYV Performance

Nov 9, 2021 – Nov 9, 2026

+43.4%IVOV+71.8%SPYV

Nov 9, 2021 to Nov 9, 2026. IVOV +43.4%. SPYV +71.8%. Use the arrow keys to read each point.−20%0%20%60%Nov 2021May 2024Nov 2026
Expense ratio
IVOV 0.10%
SPYV 0.04%, better
Fund size
IVOV $1.2B
SPYV $37.9B
1Y total return
IVOV +17.0%
SPYV +17.6%, better
Yield (12M)
IVOV 1.61%
SPYV 1.64%, better
Holdings
IVOV 304
SPYV 436
Avg volume (30D)
IVOV 21.1K sh
SPYV 2.29M sh, better
NAV per share
IVOV $111.38
SPYV $63.09
52W range

ETF.net Grade

IVOV: Cost 79, Risk 50, Mission 74, Tradability 45, Holdings 79, Durability 77. SPYV: Cost 98, Risk 84, Mission 87, Tradability 97, Holdings 72, Durability 86.
Pillar letters and Scores for IVOV, SPYV, with each pillar’s weight
PillarIVOVSPYV
Cost30% weightA79A98Higher
Mission25% weightA74A87Higher
Risk15% weightC50A84Higher
Tradability15% weightC45A97Higher
Holdings10% weightA79HigherA72
Durability5% weightA77A86Higher

Rank among Other Major Indexes funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IVOV and SPYV are both graded against the same 41 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 41 funds
See all 41 ›

SPYV ranks 1st and IVOV 13th of 41 funds in the Other Major Indexes Category.

  1. Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
  2. Rank 2ASCHKSchwab 1000 Index ETFScore 86
  3. Rank 10BXOEXXtrackers S&P 100 Ex Top 20 ETFScore 69
  4. Rank 13BIVOVVanguard S&P Mid-Cap 400 Value ETFScore 68
  5. Rank 14BRWLInvesco S&P 500 Revenue ETFScore 66

Our read on each fund

ETF.net Research

IVOVBVanguard S&P Mid-Cap 400 Value ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

IVOV The forgotten middle of the market, priced like an afterthought. IVOV tracks the S&P MidCap 400 Value Index, roughly 300 medium-sized US companies on the value side of the ledger, for 0.10% a year while the typical index wrapper charges far more.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

IVOV The fund seeks to track the S&P MidCap 400 Value Index, a benchmark of medium-sized U.S. value companies.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

  • IVOV Charges 0.10% a year against a 0.45% median for the index funds we grade. Cost is the one edge in indexing you actually control.
  • About 300 medium-sized US value names in one basket, sorted by S&P's published index rules rather than a manager's conviction.vanguard.com
  • Launched in 2010 and now a multi-billion-dollar fund. A settled Vanguard product with a long operating record, not a launch-year experiment.
  • Sits in the upper tier of the index-tracking funds we grade, on cost, portfolio construction and staying power.
  • SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
  • Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
  • No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

  • IVOV Thinly traded for a Vanguard fund. Spreads can widen, so limit orders matter more here than with the mega-cap giants.
  • Mid-cap value by design: no mega-cap ballast, and the growthier half of the mid-cap market is screened out. The ride diverges from an S&P 500 fund.vanguard.com
  • Distributions arrive on an annual or semiannual schedule, not monthly, which shapes how income lands in a cash-flow plan.
  • SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
  • Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
  • Distributions land quarterly, not monthly.

Full IVOV profile⁠

Full SPYV profile⁠

IVOV vs SPYV Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IVOV vs SPYV Cost

Overpaying IVOV vs SPYV

$1,257

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IVOV 0.10%

    $2,106

  • SPYV 0.04%

    $849

$10,000
30 years

Cost over time

  • IVOV 0.10%
  • SPYV 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K$2.5K051015202530IVOV $2,106SPYV $849

Year by year

YearIVOVSPYVOverpaying
10$183$73$110
20$717$288$429
30$2,106$849$1,257

Expense ratio

  • 0.10%IVOV
  • 0.04%SPYV, cheaper
  • Middle half of Other Major Indexes funds
  • Median 0.29%

SPYV 2nd cheapest of 41 funds

IVOV 11th cheapest of 41 funds

IVOV vs SPYV Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
IVOV 1.61%
SPYV 1.64%, better
Payout (12M)
IVOV $1.84
SPYV $1.06
Last payment
IVOV $1.84
SPYV $0.27
Ex-dividend
IVOV Dec 22, 2025
SPYV Sep 21, 2026
Paid on
IVOV Dec 24, 2025
SPYV Sep 23, 2026
Frequency
IVOV Annual
SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVOVAnnual · 9 paymentsAll IVOV payments⁠
One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 21, 2017 $0.94; Dec 13, 2018 $0.98; Dec 16, 2019 $1.14; Dec 22, 2020 $1.59; Dec 21, 2021 $1.50; Dec 20, 2022 $1.51; Dec 20, 2023 $1.33; Dec 23, 2024 $1.66; Dec 22, 2025 $1.84. Use the arrow keys to read each point.$0$22017202020232026YTD
SPYVQuarterly · 39 paymentsAll SPYV payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.15; Jun 16, 2017 $0.17; Sep 15, 2017 $0.18; Dec 15, 2017 $0.36; Mar 19, 2018 $0.17; Jun 18, 2018 $0.19; Sep 24, 2018 $0.22; Dec 24, 2018 $0.22; Mar 18, 2019 $0.18; Jun 24, 2019 $0.20; Sep 23, 2019 $0.19; Dec 23, 2019 $0.21; Mar 23, 2020 $0.22; Jun 22, 2020 $0.21; Sep 21, 2020 $0.19; Dec 21, 2020 $0.19; Mar 22, 2021 $0.24; Jun 21, 2021 $0.20; Sep 20, 2021 $0.18; Dec 20, 2021 $0.26; Mar 21, 2022 $0.18; Jun 21, 2022 $0.22; Sep 19, 2022 $0.22; Dec 19, 2022 $0.24; Mar 20, 2023 $0.18; Jun 20, 2023 $0.20; Sep 18, 2023 $0.20; Dec 18, 2023 $0.23; Mar 18, 2024 $0.26; Jun 24, 2024 $0.29; Sep 23, 2024 $0.28; Dec 23, 2024 $0.35; Mar 24, 2025 $0.18; Jun 23, 2025 $0.25; Sep 22, 2025 $0.26; Dec 22, 2025 $0.31; Mar 23, 2026 $0.21; Jun 22, 2026 $0.27; Sep 21, 2026 $0.27. Use the arrow keys to read each point.$0$22017202020232026YTD

IVOV vs SPYV Risk

Fall from peak · 5 years

  • IVOV
  • SPYV
Nov 9, 2021 to Nov 9, 2026. Worst fall: IVOV −22.6% · Apr 2025. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
IVOV 15.9%SPYV 11.7%, better
Return per unit of riskSharpe ratio, 3 years
IVOV 0.82SPYV 1.17, better
Worst fallMax drawdown, 5 years
IVOV −22.6%SPYV −17.9%, better
Market sensitivityBeta, 5 years
IVOV 0.99SPYV 0.83

IVOV and SPYV in the news

All news⁠

Popular comparisons

  • IVOVBvsSCHKA

    Vanguard S&P Mid-Cap 400 Value ETF · Schwab 1000 Index ETF

    Expense ratio
    0.10% · 0.03%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SPYVAvsVOOVA

    State Street SPDR Portfolio S&P 500 Value ETF · Vanguard S&P 500 Value ETF

    Expense ratio
    0.04% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IVOVBvsPBUSA

    Vanguard S&P Mid-Cap 400 Value ETF · Invesco MSCI USA ETF

    Expense ratio
    0.10% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SPYVAvsSCHKA

    State Street SPDR Portfolio S&P 500 Value ETF · Schwab 1000 Index ETF

    Expense ratio
    0.04% · 0.03%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IVOVBvsVOOVA

    Vanguard S&P Mid-Cap 400 Value ETF · Vanguard S&P 500 Value ETF

    Expense ratio
    0.10% · 0.07%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SPYVAvsPBUSA

    State Street SPDR Portfolio S&P 500 Value ETF · Invesco MSCI USA ETF

    Expense ratio
    0.04% · 0.04%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.