IVV vs USPX: Grades, Fees and Holdings Compared

iShares Core S&P 500 ETF

IVVANYSE Arca

Franklin U.S. Equity Index ETF

USPXANYSE Arca

Overlap

94.3%by weight

Expense ratio

IVV0.03%USPX0.03%

Avg volume · 30D

IVV 87.9×the volume

IVV6.02MUSPX68.5K

10Y return · a year

IVV +3.1pt

IVV+15.6%USPX+12.5%

IVV vs USPX Performance

Nov 3, 2021 – Nov 3, 2026

+74.1%IVV+74.0%USPX

Expense ratio: IVV 0.03%; USPX 0.03%
Fund size: IVV $867B; USPX $2.03B
1Y total return: IVV +11.7%, better; USPX +11.1%
Yield (12M): IVV 1.11%, better; USPX 1.04%
Holdings: IVV 507; USPX 470
Avg volume (30D): IVV 6.02M sh, better; USPX 68.5K sh
NAV per share: IVV $755.11; USPX $65.65
52W range

ETF.net Grade

Pillar letters and Scores for IVV, USPX, with each pillar’s weight
Pillar	IVV	USPX
Cost30% weight	A84	A84
Mission25% weight	A100Higher	A98
Risk15% weight	C51Higher	C41
Tradability15% weight	A80Higher	C50
Holdings10% weight	B57	B58Higher
Durability5% weight	A86Higher	B61

Rank among S&P 500 funds

How we build Categories ›

Same Category. IVV and USPX are both graded against the same 14 S&P 500 funds, so their Grades compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

IVV ranks 2nd and USPX 4th of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 3AVOOVanguard S&P 500 ETFScore 74
Rank 4AUSPXFranklin U.S. Equity Index ETFScore 72
Rank 5ASPYState Street SPDR S&P 500 ETFScore 70

Our read on each fund

ETF.net Research

IVVAiShares Core S&P 500 ETF

USPXAFranklin U.S. Equity Index ETF

In short

IVV The 2000-vintage iShares take on the S&P 500, now a $100B-plus cornerstone holding: roughly 500 large US companies, 0.03% a year, and tracking that stays tight to the index.

USPX The odd one out in the S&P 500 aisle. Franklin's fund tracks a Morningstar large-cap benchmark instead, for three basis points. Same big-US-stocks job, different scorecard, and a fee that undercuts most of the peer group.

Stated mandate

IVV The fund seeks to track the investment results of an index made up of large-capitalization U.S. equities.

USPX The fund seeks to provide U.S. equity exposure through an index-based strategy.

Why people hold it

IVV Costs 0.03% a year, a fraction of the typical fee among S&P 500 trackers, and undercuts the category's founding fund (SPY, 0.09%) on the same index.
Tracking is the whole job, and it does it about as tightly as this peer group gets: roughly 500 large US companies, no manager discretion bolted on.
A $100B-plus fund that trades heavily all session, which is what keeps bid-ask spreads thin for retail-sized orders and institutional blocks alike.
Running since 2000 as a registered open-end fund, with quarterly distributions and one of the longest live records in the S&P 500 aisle.ishares.com

USPX 0.03% a year, a fraction of the roughly 0.15% typical in its peer group and level with the fee on VOO and IVV.
Sticks close to its Morningstar US Target Market Exposure Index, one of the tighter index-following records among the S&P 500 wrappers it sits beside.
Rules-based cap-weighted US equity, roughly 190 names, no factor tilts or manager picks. Pays quarterly.
Running since 2016 and now a multi-billion-dollar fund, with Franklin Templeton behind it.

Worth knowing

IVV Pure US large cap. No mid caps, no small caps, nothing overseas, so it works as one slab of a portfolio rather than the whole thing.
It rides the index in both directions: when the S&P 500 has an ugly year, this has the same ugly year, minus the fee.
A near-identical rival shaves a basis point (SPYM at 0.02%). On $10,000 that gap is about a dollar a year, so structure and trading habits matter more.

USPX Different index, different constituent rules. Holdings and returns can drift from the S&P 500 trackers most people compare it to.
Moderately traded rather than a volume monster like SPY, which can mean wider bid-ask spreads than the biggest names in the category.
Fewer names than the 500-stock benchmarks next door, and cap weighting keeps the largest US companies in the driver's seat.

Full IVV profile⁠

Full USPX profile⁠

IVV vs USPX Holdings

How IVV and USPX differ

Overlap by weight

94.3%

Shared holdings make up 95.8% of IVV and 95.5% of USPX.

Level by level

Holdings405 in both94.3%
Sector11 Sectors97.0%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in IVV and USPX, widest gap first
Sector	Gap	IVV	USPX
Technology	USPX +2.0 points	38.6%	40.6%
Communication	USPX +1.0 points	8.9%	9.9%
Health Care	IVV +0.7 points	9.8%	9.1%
Financials	IVV +0.6 points	11.8%	11.2%
Consumer Staples	IVV +0.5 points	4.7%	4.2%
Energy	IVV +0.3 points	3.7%	3.4%
Consumer Discretionary	IVV +0.3 points	9.0%	8.7%
Real Estate	IVV +0.2 points	1.7%	1.5%
Utilities	IVV +0.1 points	2.0%	1.9%
Materials	IVV +0.2 points	1.7%	1.5%
Industrials	Same weight	8.0%	8.0%

Country, concentration and asset class

Country by domicile

Country weights in IVV and USPX, widest gap first
Country	Gap	IVV	USPX
United States	IVV +0.2 points	99.5%	99.4%
Switzerland	Same weight	0.3%	0.3%
Brazil	USPX +0.1 points	0.0%	0.1%
China	Same weight	0.1%	0.1%
Mexico	USPX +0.1 points	0.0%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

IVV37.3%
USPX37.1%

Securities held

IVV504
USPX468

Asset class

IVV: Equity
USPX: Equity

Holdings

Only in IVV99
In both405
Only in USPX63

Only in IVV

99 securities, 4.1% of IVV by weight

Linde PLC0.36%
Accenture PLC Class A0.24%
Eaton PLC0.22%
Chubb0.20%
Medtronic PLC0.18%
Elevance Health Inc0.14%
Johnson Controls International PLC0.14%
Moderna0.13%
Slb0.12%
Royal Caribbean Group0.12%
Nxp Semiconductors NV0.10%
Crh Public Limited PLC0.09%
Becton Dickinson0.08%
Vivmark Residential0.07%
Block Class A0.06%
Kenvue0.06%
Carnival Corp Ltd0.06%
Cboe Global Markets0.05%
Willis Towers Watson0.05%
Williams Sonoma Inc0.05%
Fiserv Inc0.04%
Caseys General Stores Inc0.04%
Qnity Electronics0.04%
Tapestry0.04%
Smurfit Westrock PLC0.03%
Viatris0.03%
Skyworks Solutions0.03%
Best Buy0.03%
Cf Industries Holdings Inc0.03%
Apa0.03%
Lyondellbasell Industries Class A0.03%
Ball Corp0.03%
Revvity0.03%
Host Hotels & Resorts Reit0.03%
Idex0.03%
Charles River Laboratories Interna0.03%
Zebra Technologies Corp Class A0.03%
Nordson0.03%
Hasbro0.03%
Allegion PLC0.02%
Gen Digital0.02%
Stanley Black & Decker0.02%
Bunge Global SA0.02%
Fedex Freight Holding Company Inc0.02%
Godaddy Class A0.02%
Ralph Lauren Class A0.02%
Everest Group0.02%
Ch Robinson Worldwide0.02%
Gartner0.02%
Assurant Inc0.02%

Only in USPX

63 securities, 4.4% of USPX by weight

Space Exploration Techn-C0.43%
Linde PLC0.36%
Accenture Plc-Cl A0.24%
Eaton Corp PLC0.24%
Chubb Ltd0.20%
Medtronic PLC0.20%
Snowflake Inc0.15%
Johnson Controls Internat0.14%
Elevance Health Inc0.14%
Cloudflare Inc - Class A0.13%
Royal Caribbean Cruises L0.12%
Mercadolibre Inc0.12%
Slb Ltd0.12%
Crh PLC0.10%
Nxp Semiconductors NV0.10%
Cheniere Energy Inc0.09%
Becton Dickinson and Co0.08%
Strategy Inc0.07%
Block Inc0.06%
Carnival Corp Ltd0.06%
Astera Labs Inc0.06%
Sunbelt Rentals Holdings0.05%
Willis Towers Watson PLC0.05%
Fiserv Inc0.05%
Roblox Corp -Class A0.05%
Rocket Lab Corp0.04%
Mongodb Inc0.04%
Royalty Pharma Plc- Class A0.04%
Entegris Inc0.04%
Credo Technology Group Ho0.04%
Lpl Financial Holdings In0.04%
Smurfit Westrock PLC0.04%
Insmed Inc0.03%
Zscaler Inc0.03%
Alnylam Pharmaceuticals I0.03%
Zoom Communications Inc0.03%
Markel Group Inc0.03%
Net Current Assets0.03%
Sofi Technologies Inc0.03%
Liberty Media Corp-C0.03%
Heico Corp-Class A0.03%
Coupang Inc0.03%
First Citizens Bcshs -Cl0.03%
East West Bancorp Inc0.03%
Coreweave Inc-Cl A0.03%
SS&C Technologies Holding0.03%
Southern Copper Corp0.03%
Lyondellbasell Indu-Cl A0.03%
Burlington Stores Inc0.02%
Wp Carey Inc0.02%

Weight gaps

The 100 widest of 405 Holdings in both funds.

Holding weights in IVV and USPX, widest gap first
Holding	Gap	IVV	USPX
AppleAAPL	IVV +0.26 points	7.70%	7.44%
Amazon.com IncAMZN	USPX +0.19 points	3.61%	3.80%
NVIDIANVDA	IVV +0.18 points	7.58%	7.40%
Intel CorporationINTC	IVV +0.07 points	0.50%	0.43%
ChevronCVX	IVV +0.06 points	0.71%	0.65%
Exxonmobil Holdings CorpXOM	IVV +0.06 points	1.18%	1.12%
Palantir Technologies Class APLTR	IVV +0.05 points	0.65%	0.60%
Advanced Micro DevicesAMD	IVV +0.05 points	1.26%	1.21%
Micron TechnologyMU	IVV +0.04 points	1.53%	1.49%
Kimberly ClarkKMB	USPX +0.05 points	0.05%	0.10%
Meta Platforms Class AMETA	USPX +0.03 points	2.08%	2.11%
Marvell TechnologyMRVL	IVV +0.03 points	0.26%	0.23%
Ge VernovaGEV	USPX +0.03 points	0.35%	0.38%
Ge AerospaceGE	USPX +0.03 points	0.48%	0.51%
Berkshire Hathaway Inc Class BBRK.B	USPX +0.02 points	1.55%	1.57%
Lumentum HoldingsLITE	IVV +0.02 points	0.11%	0.09%
Johnson & JohnsonJNJ	IVV +0.02 points	1.01%	0.99%
Palo Alto NetworksPANW	IVV +0.02 points	0.46%	0.44%
Illinois Tool IncITW	USPX +0.02 points	0.11%	0.13%
Crowdstrike Holdings Class ACRWD	IVV +0.02 points	0.39%	0.37%
Visa Class AV	USPX +0.02 points	1.08%	1.10%
Amphenol Corp Class AAPH	USPX +0.02 points	0.30%	0.32%
SalesforceCRM	IVV +0.02 points	0.29%	0.27%
Lam ResearchLRCX	IVV +0.02 points	0.46%	0.44%
AbbVieABBV	IVV +0.02 points	0.80%	0.78%
OracleORCL	IVV +0.02 points	0.35%	0.33%
ConocophillipsCOP	IVV +0.01 points	0.28%	0.27%
Texas InstrumentTXN	USPX +0.02 points	0.42%	0.44%
Mastercard Class AMA	USPX +0.02 points	0.79%	0.81%
Merck & Co IncMRK	IVV +0.01 points	0.56%	0.55%
Idexx LaboratoriesIDXX	USPX +0.01 points	0.07%	0.08%
Dell Technologies Inc Class CDELL	IVV +0.02 points	0.20%	0.18%
Broadcom IncAVGO	USPX +0.02 points	2.37%	2.39%
Seagate Technology Holdings PLCSTX	IVV +0.01 points	0.22%	0.21%
MicrosoftMSFT	USPX +0.01 points	5.93%	5.94%
Howmet AerospaceHWM	USPX +0.02 points	0.12%	0.14%
Diamondback EnergyFANG	IVV +0.02 points	0.07%	0.05%
StrykerSYK	USPX +0.01 points	0.16%	0.17%
JPMorgan Chase & CoJPM	USPX +0.01 points	1.37%	1.38%
Transdigm GroupTDG	USPX +0.01 points	0.10%	0.11%
Western Digital CorpWDC	IVV +0.01 points	0.20%	0.19%
Coca-ColaKO	USPX +0.01 points	0.56%	0.57%
WelltowerWELL	USPX +0.01 points	0.26%	0.27%
Walt DisneyDIS	USPX +0.01 points	0.29%	0.30%
Alphabet Class CGOOG	USPX +0.02 points	2.02%	2.04%
Wells FargoWFC	USPX +0.01 points	0.39%	0.40%
Alphabet Class AGOOGL	USPX +0.01 points	2.51%	2.52%
NetflixNFLX	USPX +0.01 points	0.40%	0.41%
Delta Air LinesDAL	USPX +0.01 points	0.07%	0.08%
Applied Material IncAMAT	IVV +0.01 points	0.47%	0.46%
Costco Wholesale CorpCOST	USPX +0.01 points	0.69%	0.70%
Devon EnergyDVN	IVV +0.01 points	0.09%	0.08%
Moodys CorpMCO	USPX +0.01 points	0.11%	0.12%
Eli LillyLLY	IVV +0.01 points	1.74%	1.73%
Marathon PetroleumMPC	IVV +0.01 points	0.19%	0.18%
American ExpressAXP	USPX +0.01 points	0.26%	0.27%
Goldman Sachs GroupGS	USPX +0.01 points	0.40%	0.41%
ServicenowNOW	USPX +0.01 points	0.17%	0.18%
Booking HoldingsBKNG	USPX +0.01 points	0.17%	0.18%
Ingersoll RandIR	USPX +0.01 points	0.04%	0.05%
RtxRTX	USPX +0.01 points	0.41%	0.42%
Regeneron PharmaceuticalsREGN	USPX +0.01 points	0.14%	0.15%
General Dynamics CorpGD	Same weight	0.14%	0.14%
Marriott International Class AMAR	USPX +0.01 points	0.13%	0.14%
MsciMSCI	USPX +0.01 points	0.07%	0.08%
Thermo Fisher ScientificTMO	USPX +0.01 points	0.39%	0.40%
Hca HealthcareHCA	IVV +0.01 points	0.11%	0.10%
EbayEBAY	USPX +0.01 points	0.07%	0.08%
DanaherDHR	USPX +0.01 points	0.22%	0.23%
Sherwin WilliamsSHW	Same weight	0.12%	0.12%
Apollo Global ManagementAPO	Same weight	0.08%	0.08%
Mcdonalds CorpMCD	USPX +0.01 points	0.28%	0.29%
Phillips 66PSX	Same weight	0.17%	0.17%
Abbott LaboratoriesABT	USPX +0.01 points	0.28%	0.29%
Analog DevicesADI	USPX +0.01 points	0.31%	0.32%
Amgen IncAMGN	IVV +0.01 points	0.39%	0.38%
3MMMM	USPX +0.01 points	0.14%	0.15%
Everpure Inc Class AP	Same weight	0.06%	0.06%
Archer Daniels MidlandADM	IVV +0.01 points	0.06%	0.05%
Westinghouse Air Brake TechnologieWAB	USPX +0.01 points	0.07%	0.08%
International Business Machines CoIBM	IVV +0.01 points	0.37%	0.36%
Vertex PharmaceuticalsVRTX	IVV +0.01 points	0.22%	0.21%
Intuitive SurgicalISRG	USPX +0.01 points	0.23%	0.24%
Rockwell Automation IncROK	USPX +0.01 points	0.07%	0.08%
Datadog Inc Class ADDOG	IVV +0.01 points	0.12%	0.11%
Hubbell IncHUBB	USPX +0.01 points	0.03%	0.04%
SyscoSYY	IVV +0.01 points	0.06%	0.05%
Digital Realty Trust ReitDLR	Same weight	0.10%	0.10%
CencoraCOR	Same weight	0.10%	0.10%
UnitedHealth GroupUNH	IVV +0.01 points	0.56%	0.55%
Quanta Services IncPWR	USPX +0.01 points	0.14%	0.15%
Teledyne TechnologiesTDY	IVV +0.01 points	0.05%	0.04%
CoherentCOHR	Same weight	0.06%	0.06%
Wr BerkleyWRB	Same weight	0.03%	0.03%
BlackRockBLK	Same weight	0.25%	0.25%
Aon PLC Class AAON	USPX +0.01 points	0.10%	0.11%
Ametek IncAME	USPX +0.01 points	0.08%	0.09%
Boston ScientificBSX	USPX +0.01 points	0.09%	0.10%
Ww Grainger IncGWW	USPX +0.01 points	0.09%	0.10%
Eog ResourcesEOG	Same weight	0.13%	0.13%

All 505 IVV holdings⁠All USPX 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.

IVV vs USPX Cost

Same expense ratio

$638

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

IVV 0.03%
$638
USPX 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IVV 0.03%
USPX 0.03%

Year by year

Year	IVV	USPX
10	$55	$55
20	$216	$216
30	$638	$638

Expense ratio

0.03%IVV
0.03%USPX

IVV0.03%USPX0.03%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

IVV 2nd cheapest of 14 funds

USPX 2nd cheapest of 14 funds

IVV vs USPX Dividends

Last 12 months to Nov 3, 2026

Yield (12M): IVV 1.11%, better; USPX 1.04%
Payout (12M): IVV $8.40; USPX $0.69
Last payment: IVV $2.20; USPX $0.14
Ex-dividend: IVV Sep 15, 2026; USPX Sep 18, 2026
Paid on: IVV Sep 18, 2026; USPX Sep 25, 2026
Frequency: IVV Quarterly; USPX Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVVQuarterly · 40 paymentsAll IVV payments⁠

USPXQuarterly · 28 paymentsAll USPX payments⁠

IVV vs USPX Risk

Fall from peak · 5 years

IVV
USPX

Risk facts

VolatilityStd dev, 3 years: IVV 12.3%, betterUSPX 12.6%
Return per unit of riskSharpe ratio, 3 years: IVV 1.42, betterUSPX 1.39
Worst fallMax drawdown, 5 years: IVV −24.5%, betterUSPX −24.6%
Market sensitivityBeta, 5 years: IVV 1.00USPX 0.93; Market = 1

IVV and USPX in the news

All news⁠

New ETFs
C.J. Lawrence's new 0.75% ETF hedges a band J.P. Morgan already covers at 0.50%
Nov 2, 2026IVV
Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026IVV
Deep Dive
SPY vs. SPYM, VOO, and IVV: Why SPY trails cheaper S&P 500 ETFs
Oct 29, 2026IVV
Head-to-Head
VOO and IVV own the same S&P 500 stocks at the same fee
Oct 23, 2026IVV
Head-to-Head
Own iShares Core S&P 500 ETF, IVV, unless you want the heavier growth bet in Vanguard Morningstar Growth ETF, VUG
Oct 16, 2026IVV
Deep Dive
VOO shares its portfolio with other Vanguard 500 index fund share classes
Oct 10, 2026IVV

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IVV vs USPX

In short

Stated mandate

Why people hold it