BetterThanSPY

Relative Intelligence · US Large-Cap Value

How iShares S&P 500 Value ETF (IVE) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IVE alone. It places IVE (iShares S&P 500 Value ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where IVE stands in the market, and of the alternatives worth a closer look.

Period covered: IVE's full trading record, from May 2000 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against IVE →Chart IVE vs. 21 alternatives →

This page answers the following questions about IVE

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

How much would $10,000 in IVE have grown?

This chart tracks a hypothetical $10,000 investment in IVE over the past 18 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IVE over the same span and IVE's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: The chart covers the past 18 years rather than IVE's full 26 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2008 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 830 of the 1,886 stocks and funds worth at least $500 million that traded the whole period ended ahead of IVE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,0002008201120142017202020232026$5,000$10,000$20,000$50,000$100,0002008201320182023
  • IVW$125,117+1,151% total · +15.1% a year
  • SPY (S&P 500)$91,104+811% total · +13.1% a year
  • RWL$79,579+696% total · +12.2% a year
  • RSP$77,448+674% total · +12.0% a year
  • RPV$73,214+632% total · +11.7% a year
  • VTV$65,599+556% total · +11.0% a year
  • VYM$64,263+543% total · +10.9% a year
  • SPYV$58,781+488% total · +10.3% a year
  • IVE$57,370+474% total · +10.2% a year
  • IJJ$56,186+462% total · +10.1% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,169 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of IVE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000202120222023202420252026$5,000$10,000$15,000$20,000$25,000202120222023202420252026
  • VLUE$22,395+124% total · +17.5% a year
  • IVW$19,882+98.8% total · +14.7% a year
  • AVLV$19,653+96.5% total · +14.5% a year
  • RWL$19,092+90.9% total · +13.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • FVAL$18,468+84.7% total · +13.1% a year
  • VTV$17,967+79.7% total · +12.4% a year
  • QUAL$17,879+78.8% total · +12.3% a year
  • HDV$17,689+76.9% total · +12.1% a year
  • IVE$17,234+72.3% total · +11.5% a year
Change the dates or add tickers to this chart in EasyCompare

IVE at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The fund

Issuer
IShares
Began trading
May 2000
Expense ratio
0.18%per year
Assets
$50B
Category
Broad Market

Returns

Past 1 year
+17.0%total return
Past 3 years
+68.5%+19.0% a year
Past 5 years
+71.7%+11.4% a year
Past 10 years
+215%+12.2% a year
Best calendar year
+31.6%2013
Worst calendar year
−38.9%2008
Losing years
7 of 25full calendar years

Risk

Volatility
14.2%typical yearly swing, 5 years
Sharpe ratio
0.84return per unit of risk, 5 years
Worst decline ever
−61.3%Oct 2007 to Mar 2009
From its all-time high
At its highwithin 1%

IVE against the whole market

Where IVE ranks among every stock and fund, and what across the market has done better.

How does IVE rank among all ETFs?

This section ranks IVE on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how IVE stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureIVERankStanding
1-year return+17.0%646 of 2,488top 26%
3-year return+68.5%822 of 1,950top 42%
5-year return+71.7%346 of 1,563top 22%
10-year return+215%238 of 958top 25%
Volatility, 5 years14.2%563 of 1,563top 36%
Sharpe ratio, 5 years0.84278 of 1,563top 18%
Worst decline, past 10 years−37.0%443 of 951top 47%

What has beaten IVE on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). IVE sits where the dashed lines cross. Anything in the green box above and to the left earned more than IVE with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to IVE; faint dots are 1 more of the 5 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

8.0%10.0%12.0%14.0%16.0%18.0%20.0%9.0%10.0%11.0%12.0%13.0%14.0%15.0%16.0%17.0%18.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than IVEMGV: +12.8% a year, volatility 13.4%IVE: +11.4% a year, volatility 14.2%SPY (S&P 500): +12.5% a year, volatility 17.2%VTV: +12.2% a year, volatility 13.7%RWL: +13.7% a year, volatility 14.4%VLUE: +16.2% a year, volatility 18.4%FVAL: +12.6% a year, volatility 16.4%VYM: +11.6% a year, volatility 13.8%HDV: +13.3% a year, volatility 13.0%DJD: +12.5% a year, volatility 13.3%SIXA: +12.9% a year, volatility 12.7%PVAL: +15.9% a year, volatility 15.1%FDL: +14.6% a year, volatility 14.5%IUS: +14.7% a year, volatility 14.9%JNJ: +13.5% a year, volatility 18.0%SCHD: +10.2% a year, volatility 14.4%RSG: +14.1% a year, volatility 18.6%RY: +17.5% a year, volatility 18.2%LVHI: +16.9% a year, volatility 11.1%PJUL: +10.4% a year, volatility 8.6%FJAN: +11.0% a year, volatility 10.5%EMLP: +15.2% a year, volatility 14.5%IVESPY (S&P 500)VTVRWLVLUEFVALVYMHDVDJDSIXAPVALFDLIUSJNJSCHDRSGRYLVHIPJULFJANEMLP7.5%10.0%12.5%15.0%17.5%20.0%8.0%10.0%12.0%14.0%16.0%18.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than IVEMGV: +12.8% a year, volatility 13.4%IVE: +11.4% a year, volatility 14.2%SPY (S&P 500): +12.5% a year, volatility 17.2%VTV: +12.2% a year, volatility 13.7%RWL: +13.7% a year, volatility 14.4%VLUE: +16.2% a year, volatility 18.4%FVAL: +12.6% a year, volatility 16.4%VYM: +11.6% a year, volatility 13.8%HDV: +13.3% a year, volatility 13.0%DJD: +12.5% a year, volatility 13.3%SIXA: +12.9% a year, volatility 12.7%PVAL: +15.9% a year, volatility 15.1%FDL: +14.6% a year, volatility 14.5%IUS: +14.7% a year, volatility 14.9%JNJ: +13.5% a year, volatility 18.0%SCHD: +10.2% a year, volatility 14.4%RSG: +14.1% a year, volatility 18.6%RY: +17.5% a year, volatility 18.2%LVHI: +16.9% a year, volatility 11.1%PJUL: +10.4% a year, volatility 8.6%FJAN: +11.0% a year, volatility 10.5%EMLP: +15.2% a year, volatility 14.5%IVESPY (S&P 500)RWLVLUEVYMHDVDJDPVALFDLIUSJNJSCHDRSGRYLVHIPJULFJANEMLP
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than IVE?

Investments that beat IVE over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat IVE over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks IVE's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than IVE follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than IVE's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× IVE's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than IVE's.

Screen the whole market against IVE for any period in BetterThanSPYOpen these 20 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with IVE?lower diversifies moreExpenseper year
IVEiShares S&P 500 Value ETF · this page
+11.4%14.2%0.84−37.0%+215%1.000.18%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.890.09%
Popular alternativesbest 5 shownThe investments people most often weigh against IVE. 9 of 19 passed at least one test.
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Higher return in most periods+12.2%13.7%0.91−36.8%+237%0.970.03%
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Higher return in most periods+13.7%14.4%0.97−36.1%+287%0.970.39%
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return in most periods+16.2%18.4%0.91−39.5%+286%0.840.15%
FVALFidelity Value Factor ETF · US Large-Cap Value
Higher return in most periods+12.6%16.4%0.81−37.3%+290%0.940.15%
VYMVanguard High Dividend Yield ETF · High Dividend Yield
Smaller losses in recent crashes+11.6%13.8%0.87−35.2%+209%0.960.04%
Same and neighboring categories, and shared themesbest 6 shownEverything else in US Large-Cap Value and US Large-Cap Equity and the categories next to it (US Large-Cap Growth, US Value Equity, High Dividend Yield, US Total Market, US Quality Equity), plus IVE's specific themes. 20 of 140 passed at least one test.
HDViShares Core High Dividend ETF · High Dividend Yield
Higher return, lower volatilityHigher return in most periods+13.3%13.0%1.03−37.0%+177%0.830.08%
DJDInvesco Dow Jones Industrial Average Dividend ETF · High Dividend Yield
Higher return, lower volatilityHigher return in most periods+12.5%13.3%0.95−34.7%+233%0.920.07%
SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.9%12.7%1.02−18.4%—0.930.31%
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Higher return, similar volatilityHigher return in most periods+15.9%15.1%1.06−41.3%—0.950.56%
FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield
Higher return, similar volatilityHigher return in most periods+14.6%14.5%1.02−41.4%+207%0.840.43%
IUSInvesco RAFI Strategic US ETF · US Total Market
Higher return, similar volatilityHigher return in most periods+14.7%14.9%1.00−34.7%—0.970.19%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 53 of 3,503 passed at least one test.
JNJJohnson & Johnson · Pharmaceuticals
Higher return in most periodsSmaller losses in recent crashes+13.5%18.0%0.80−27.4%+209%0.40—
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Higher return in most periodsSmaller losses in recent crashes+10.2%14.4%0.75−33.4%+256%0.890.06%
RSGRepublic Services, Inc. · Waste Management
Higher return in most periodsSmaller losses in recent crashes+14.1%18.6%0.80−34.0%+461%0.39—
RYRoyal Bank of Canada · Banks
On the frontierHigher return in most periods+17.5%18.2%0.98−40.0%+361%0.67—
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
On the frontierHigher return, lower volatility+16.9%11.1%1.48−32.4%+194%0.760.40%
PJULInnovator U.S. Equity Power Buffer ETF · US Equity Buffer
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+10.4%8.6%1.20−18.2%—0.860.79%
FJANFT Vest U.S. Equity Buffer ETF - January · US Equity Buffer
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+11.0%10.5%1.04−13.6%—0.850.85%
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Higher return, similar volatility+15.2%14.5%1.06−43.6%+155%0.780.95%
What these numbers mean for IVE
Annual return
IVE returned 11.4% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $17,200. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
IVE's volatility over the past 5 years was 14.2%, 83% of the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IVE's return lands within 14.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
IVE's Sharpe ratio over the past 5 years was 0.84, against 0.78 for the S&P 500, so IVE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
IVE's worst fall from a peak to a low over the past 10 years was 37.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 37.0% fall takes a 58.8% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, IVE's monthly returns had a correlation of 0.89 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IVE instead: the lower it is, the more that option would diversify a IVE holding. Guide: Correlation and diversification →
Show all 5 stocks and funds worth at least $500 million that earned more than IVE with less volatility

Out of 3,641 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with IVEExpense
1
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Same or nearby category+12.8%13.4%0.96−35.4%+247%0.950.05%
2
HDViShares Core High Dividend ETF · High Dividend Yield
Same or nearby category+13.3%13.0%1.03−37.0%+177%0.830.08%
3
DJDInvesco Dow Jones Industrial Average Dividend ETF · High Dividend Yield
Same or nearby category+12.5%13.3%0.95−34.7%+233%0.920.07%
4
SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity
Same or nearby category+12.9%12.7%1.02−18.4%—0.930.31%
5
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+194%0.760.40%

IVE against its popular alternatives

The investments people most often weigh against IVE, compared period by period and year by year.

How do IVE's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at IVE, which divides the map into what did better or worse on each measure.

Green points earned more than IVE with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

13.0%14.0%15.0%16.0%17.0%18.0%19.0%20.0%21.0%22.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIVE: 11.4% a year, volatility 14.2%SPY (S&P 500): 12.5% a year, volatility 17.2%VTV: 12.2% a year, volatility 13.7%QUAL: 11.2% a year, volatility 17.3%RPV: 11.2% a year, volatility 17.3%SCHV: 10.3% a year, volatility 14.4%VYM: 11.6% a year, volatility 13.8%RSP: 8.4% a year, volatility 16.1%IJJ: 7.7% a year, volatility 19.2%FVAL: 12.6% a year, volatility 16.4%RWL: 13.7% a year, volatility 14.4%VLUE: 16.2% a year, volatility 18.4%IVW: 12.6% a year, volatility 21.6%AVLV: 13.9% a year, volatility 16.9%DFAU: 11.9% a year, volatility 17.1%DFUS: 12.1% a year, volatility 17.3%VONV: 11.6% a year, volatility 14.7%SPYV: 11.6% a year, volatility 14.2%IVESPY (S&P 500)VTVQUALRPVSCHVVYMRSPIJJFVALRWLVLUEIVWAVLVDFAUDFUSVONV12.0%14.0%16.0%18.0%20.0%22.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIVE: 11.4% a year, volatility 14.2%SPY (S&P 500): 12.5% a year, volatility 17.2%VTV: 12.2% a year, volatility 13.7%QUAL: 11.2% a year, volatility 17.3%RPV: 11.2% a year, volatility 17.3%SCHV: 10.3% a year, volatility 14.4%VYM: 11.6% a year, volatility 13.8%RSP: 8.4% a year, volatility 16.1%IJJ: 7.7% a year, volatility 19.2%FVAL: 12.6% a year, volatility 16.4%RWL: 13.7% a year, volatility 14.4%VLUE: 16.2% a year, volatility 18.4%IVW: 12.6% a year, volatility 21.6%AVLV: 13.9% a year, volatility 16.9%DFAU: 11.9% a year, volatility 17.1%DFUS: 12.1% a year, volatility 17.3%VONV: 11.6% a year, volatility 14.7%SPYV: 11.6% a year, volatility 14.2%IVESPY (S&P 500)VTVQUALRPVSCHVVYMRSPIJJFVALRWLVLUEIVWAVLVDFAU
All figures
InvestmentAnnual returnVolatility
VLUE iShares MSCI USA Value Factor ETF+16.2%18.4%
AVLV Avantis U.S. Large Cap Value ETF+13.9%16.9%
RWL Invesco S&P 500 Revenue ETF+13.7%14.4%
IVW iShares S&P 500 Growth ETF+12.6%21.6%
FVAL Fidelity Value Factor ETF+12.6%16.4%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
VTV Vanguard Morningstar Value ETF+12.2%13.7%
DFUS Dimensional U.S. Equity ETF+12.1%17.3%
DFAU Dimensional - US Core Equity Market ETF+11.9%17.1%
VONV Vanguard Russell 1000 Value ETF+11.6%14.7%
SPYV State Street SPDR Portfolio S&P 500 Value ETF+11.6%14.2%
VYM Vanguard High Dividend Yield ETF+11.6%13.8%
IVE This pageiShares S&P 500 Value ETF+11.4%14.2%
QUAL iShares MSCI USA Quality Factor ETF+11.2%17.3%
RPV Invesco S&P 500 Pure Value ETF+11.2%17.3%
SCHV Schwab U.S. Large-Cap Value ETF+10.3%14.4%
RSP Invesco S&P 500 Equal Weight ETF+8.4%16.1%
IJJ iShares S&P Mid-Cap 400 Value ETF+7.7%19.2%
Open these 18 in EasyCompare

Has IVE consistently beaten its popular alternatives?

This section compares IVE with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than IVE helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than IVE over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
IVE iShares S&P 500 Value ETF (this page)—+2.7%+4.2%+9.6%+13.9%+17.0%+68.5%+71.7%+215%14.2%0.84−37.0%0.18%$50B—
FVAL QualifiedFidelity Value Factor ETF3/5 short3/3 long+0.5%+4.2%+11.4%+15.7%+21.7%+87.0%+80.7%+290%16.4%0.81−37.3%0.15%$1.4B75%
RWL QualifiedInvesco S&P 500 Revenue ETF3/5 short3/3 long+3.2%+4.5%+12.2%+18.9%+23.3%+85.7%+90.3%+287%14.4%0.97−36.1%0.39%$10B85%
VLUE QualifiediShares MSCI USA Value Factor ETF3/5 short3/3 long−4.4%−0.4%+22.8%+40.8%+54.9%+139%+112%+286%18.4%0.91−39.5%0.15%$9.0B71%
VTV QualifiedVanguard Morningstar Value ETF3/5 short3/3 long+2.7%+3.8%+12.7%+19.3%+23.9%+80.9%+78.0%+237%13.7%0.91−36.8%0.03%$252B86%
IVW Broad MarketiShares S&P 500 Growth ETF0/5 short3/3 long−4.4%+1.0%+6.5%+11.5%+14.3%+105%+81.3%+398%21.6%0.66−32.7%0.18%$77B54%
AVLV Broad MarketAvantis U.S. Large Cap Value ETF2/5 short2/3 long+1.8%+1.7%+9.8%+22.7%+31.5%+91.1%+92.0%—16.9%0.86−19.5%0.15%$22B74%
QUAL Broad MarketiShares MSCI USA Quality Factor ETF0/5 short2/3 long+0.7%+3.5%+8.8%+13.4%+16.3%+76.1%+69.8%+290%17.3%0.70−34.1%0.15%$48B76%
DFAU Broad MarketDimensional - US Core Equity Market ETF0/5 short2/3 long−0.8%+2.0%+7.6%+13.0%+16.3%+86.2%+75.8%—17.1%0.75−23.6%0.12%$13B78%
DFUS Broad MarketDimensional U.S. Equity ETF0/5 short2/3 long−1.4%+2.0%+7.7%+12.6%+15.6%+88.1%+77.4%—17.3%0.75−24.6%0.09%$21B75%
VONV Broad MarketVanguard Russell 1000 Value ETF4/5 short1/3 long+2.5%+5.1%+15.2%+23.5%+28.9%+87.4%+73.4%+210%14.7%0.83−38.2%0.06%$23B94%
IWD Broad MarketiShares Russell 1000 Value ETF4/5 short1/3 long+2.5%+5.0%+15.1%+23.4%+28.8%+86.8%+72.4%+207%14.7%0.82−38.5%0.18%$84B95%
RPV Broad MarketInvesco S&P 500 Pure Value ETF4/5 short1/3 long+3.6%+3.2%+12.3%+18.7%+25.2%+89.6%+69.8%+194%17.3%0.70−50.7%0.35%$1.7B77%
DFLV Broad MarketDimensional - US Large Cap Value ETF3/5 short1/3 long+1.9%+3.9%+12.6%+21.9%+29.2%+84.8%————−16.8%0.21%$7.2B77%
SCHV Broad MarketSchwab U.S. Large-Cap Value ETF2/5 short1/3 long+1.6%+1.6%+9.3%+17.2%+21.2%+77.9%+63.1%+196%14.4%0.75−37.1%0.04%$15B92%
VYM Dividend & IncomeVanguard High Dividend Yield ETF1/5 short1/3 long+2.5%+1.2%+6.3%+14.3%+18.5%+75.9%+72.8%+209%13.8%0.87−35.2%0.04%$96B89%
CGDV Dividend & IncomeCapital Group Dividend Value ETF0/5 short1/3 long−1.4%−0.3%+7.0%+11.9%+16.8%+96.5%————−21.8%0.33%$39B69%
RSP Broad MarketInvesco S&P 500 Equal Weight ETF1/5 short0/3 long+2.5%+3.0%+8.6%+14.5%+16.8%+68.3%+49.6%+214%16.1%0.58−39.0%0.20%$98B88%
SPYV Broad MarketState Street SPDR Portfolio S&P 500 Value ETF0/5 short0/3 long+2.8%+4.2%+9.7%+14.0%+17.2%+69.0%+72.9%+219%14.2%0.85−36.9%0.04%$38B100%
VOOV Broad MarketVanguard S&P 500 Value ETF0/5 short0/3 long+2.8%+4.3%+9.7%+14.0%+17.2%+69.0%+72.4%+218%14.2%0.84−37.3%0.07%$6.8B97%
IUSV Broad MarketiShares Core S&P U.S. Value ETF0/5 short0/3 long+2.7%+3.8%+9.3%+13.7%+17.0%+68.6%+71.1%+216%14.3%0.82−37.5%0.04%$28B98%
IJJ Broad MarketiShares S&P Mid-Cap 400 Value ETF0/5 short0/3 long+1.7%−2.2%+2.8%+9.4%+13.6%+60.0%+44.8%+163%19.2%0.48−46.1%0.18%$8.5B73%
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How did IVE do year by year?

This table shows each investment's total return in every full calendar year since 2001, along with where IVE ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IVE and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of IVE; gray means the two finished within a fraction of a point. The rank row places IVE among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of IVE2025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001
IVE This pageiShares S&P 500 Value ETF—+13.0%+12.0%+22.1%−5.4%+24.7%+1.2%+31.6%−9.2%+15.2%+17.3%−3.3%+12.2%+31.6%+17.6%−0.7%+15.0%+20.9%−38.9%+1.5%+20.6%+5.7%+15.6%+31.0%−20.8%−11.5%
Rank among alternativesTop quarter in 3 of 2216 of 1917 of 198 of 195 of 1715 of 1511 of 143 of 1411 of 1412 of 144 of 139 of 1310 of 139 of 115 of 118 of 116 of 106 of 96 of 83 of 83 of 64 of 63 of 5———
SPY S&P 500State Street SPDR S&P 500 ETF13 of 25+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%
FVAL Fidelity Value Factor ETF7 of 9+19.6%+18.0%+23.1%−14.4%+30.4%+9.1%+30.3%−7.8%+22.5%————————————————
RWL Invesco S&P 500 Revenue ETF12 of 17+18.6%+16.4%+17.4%−6.0%+30.3%+9.1%+27.8%−7.7%+19.8%+12.2%−1.4%+13.4%+38.0%+17.9%+0.3%+17.0%+29.8%————————
VLUE iShares MSCI USA Value Factor ETF4 of 12+32.7%+7.2%+14.2%−14.2%+28.9%−0.2%+27.2%−11.1%+21.9%+15.3%−4.1%+12.8%—————————————
VTV Vanguard Morningstar Value ETF14 of 21+15.3%+16.0%+9.3%−2.1%+26.5%+2.3%+25.7%−5.5%+17.1%+17.1%−1.0%+13.2%+33.1%+15.2%+1.1%+14.5%+19.9%−35.9%−0.1%+22.4%+7.2%————
IVW iShares S&P 500 Growth ETF13 of 25+21.9%+35.8%+29.8%−29.5%+31.8%+33.2%+30.8%−0.2%+27.3%+6.8%+5.4%+14.7%+32.5%+14.3%+4.4%+14.9%+31.2%−34.8%+8.5%+11.0%+4.0%+5.7%+25.3%−23.5%−12.4%
AVLV Avantis U.S. Large Cap Value ETF2 of 4+15.1%+17.5%+17.4%−5.5%—————————————————————
QUAL iShares MSCI USA Quality Factor ETF8 of 12+12.7%+22.3%+30.9%−20.5%+26.9%+17.0%+33.9%−5.7%+22.3%+9.2%+5.4%+11.7%—————————————
DFAU Dimensional - US Core Equity Market ETF4 of 5+16.8%+23.2%+24.8%−17.0%+26.8%————————————————————
DFUS Dimensional U.S. Equity ETF3 of 4+17.4%+24.3%+26.4%−18.3%—————————————————————
VONV Vanguard Russell 1000 Value ETF7 of 15+15.8%+14.3%+11.4%−7.6%+25.3%+2.7%+26.5%−8.5%+13.6%+17.1%−3.8%+13.2%+32.6%+16.7%+0.4%——————————
RPV Invesco S&P 500 Pure Value ETF9 of 19+17.7%+12.4%+8.0%−1.3%+34.2%−8.7%+24.8%−12.3%+17.3%+19.3%−8.5%+12.2%+47.5%+24.9%−1.2%+22.4%+53.3%−47.8%−4.3%——————
DFLV Dimensional - US Large Cap Value ETF2 of 3+15.9%+12.9%+12.3%——————————————————————
SCHV Schwab U.S. Large-Cap Value ETF8 of 16+16.0%+14.1%+8.9%−7.6%+25.5%+2.6%+25.9%−7.3%+15.7%+18.2%−1.0%+10.9%+31.1%+14.9%+3.5%+14.8%—————————
VYM Vanguard High Dividend Yield ETF10 of 19+15.4%+17.6%+6.6%−0.4%+26.2%+1.1%+24.1%−5.9%+16.4%+17.0%+0.3%+13.6%+30.1%+12.7%+10.5%+14.2%+17.1%−31.9%+1.4%——————
CGDV Capital Group Dividend Value ETF3 of 3+25.5%+20.1%+28.8%——————————————————————
RSP Invesco S&P 500 Equal Weight ETF14 of 22+11.2%+12.8%+13.7%−11.6%+29.4%+12.7%+28.9%−7.8%+18.5%+14.5%−1.7%+15.1%+36.7%+18.6%+0.2%+21.5%+44.7%−40.0%+0.9%+15.5%+7.4%+16.5%———
SPYV State Street SPDR Portfolio S&P 500 Value ETF4 of 25+13.2%+12.3%+22.2%−5.3%+24.9%+1.4%+31.6%−9.0%+15.4%+17.2%−3.2%+12.2%+31.8%+17.3%−0.8%+15.4%+17.3%−36.3%+1.5%+21.8%+5.3%+13.3%+25.3%−18.0%−5.6%
IJJ iShares S&P Mid-Cap 400 Value ETF14 of 25+7.3%+11.6%+15.2%−7.1%+30.4%+3.5%+25.7%−12.1%+12.1%+26.2%−6.7%+11.9%+34.1%+18.3%−2.7%+22.5%+34.4%−35.1%+2.1%+14.5%+11.6%+17.9%+40.0%−10.8%+7.1%
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Risk and diversification

How IVE has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were IVE's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents IVE's five deepest drawdowns since it began trading in 2000, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means IVE fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringIVE fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−61.3%−55.2%Oct 2007Mar 200917 monthsMar 20134 years
Dot-com bust−44.2%−42.0%Feb 2001Oct 200220 monthsDec 20042.2 years
Covid crash−37.0%−33.5%Feb 2020Mar 20201 monthJan 202110 months
Late-2018 sell-off−19.3%−16.7%Jan 2018Dec 201811 monthsMay 20195 months
2022 bear market−18.0%−19.0%Apr 2022Sep 20225 monthsFeb 20235 months

How did IVE do in stock market crashes?

This section measures how far IVE, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: IVE began trading on May 26, 2000, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than IVE.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
IVE This pageiShares S&P 500 Value ETF—−4.3%−18.0%−36.8%−18.5%−6.4%−12.8%−19.5%−1.2%−61.3%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF4 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
FVAL Fidelity Value Factor ETF0 of 5−4.3%−23.4%−37.0%−19.7%−6.4%—————
RWL Invesco S&P 500 Revenue ETF3 of 8−3.8%−17.5%−35.8%−19.5%−5.9%−13.3%−19.5%−1.6%——
VLUE iShares MSCI USA Value Factor ETF1 of 6−5.2%−27.1%−38.8%−22.1%−5.4%−18.4%————
VTV Vanguard Morningstar Value ETF5 of 9−4.0%−17.0%−36.4%−17.3%−6.5%−11.6%−18.8%−1.1%−59.2%—
IVW iShares S&P 500 Growth ETF4 of 9−3.0%−31.3%−31.4%−20.6%−6.5%−13.3%−16.4%−1.9%−49.4%—
AVLV Avantis U.S. Large Cap Value ETF0 of 2−5.9%−19.3%————————
QUAL iShares MSCI USA Quality Factor ETF3 of 6−3.3%−27.5%−34.1%−20.5%−6.1%−11.2%————
DFAU Dimensional - US Core Equity Market ETF0 of 2−4.2%−23.6%————————
DFUS Dimensional U.S. Equity ETF0 of 2−3.9%−24.5%————————
VONV Vanguard Russell 1000 Value ETF0 of 7−4.6%−18.9%−38.1%−18.1%−6.4%−14.2%−19.0%———
RPV Invesco S&P 500 Pure Value ETF1 of 9−9.2%−19.8%−49.2%−22.5%−5.7%−19.5%−21.9%−2.4%−74.0%—
DFLV Dimensional - US Large Cap Value ETF0 of 1−5.6%—————————
SCHV Schwab U.S. Large-Cap Value ETF3 of 8−4.2%−19.8%−36.6%−17.7%−6.5%−11.1%−17.0%−1.4%——
VYM Vanguard High Dividend Yield ETF6 of 9−3.9%−15.8%−34.6%−16.1%−6.3%−10.9%−14.3%−1.1%−57.0%—
CGDV Capital Group Dividend Value ETF1 of 1−2.6%—————————
RSP Invesco S&P 500 Equal Weight ETF1 of 9−5.4%−21.4%−39.0%−19.8%−6.1%−14.8%−21.3%−1.6%−59.1%—
SPYV State Street SPDR Portfolio S&P 500 Value ETF1 of 9−4.3%−17.9%−36.6%−18.5%−6.4%−12.6%−19.4%−1.7%−58.4%—
IJJ iShares S&P Mid-Cap 400 Value ETF2 of 9−8.0%−19.1%−45.6%−22.7%−5.8%−17.5%−25.1%−2.4%−56.7%—
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How closely does IVE move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares IVE with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than IVE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
IVE This pageiShares S&P 500 Value ETF88%100%0.890.92
IVW iShares S&P 500 Growth ETF109%102%1.061.08
RWL Invesco S&P 500 Revenue ETF94%96%0.970.95
QUAL iShares MSCI USA Quality Factor ETF98%102%0.961.00
VLUE iShares MSCI USA Value Factor ETF103%109%0.951.09
VTV Vanguard Morningstar Value ETF86%91%0.950.86
FVAL Fidelity Value Factor ETF102%109%0.931.02
VYM Vanguard High Dividend Yield ETF81%88%0.930.82
SPYV State Street SPDR Portfolio S&P 500 Value ETF88%99%0.890.91
VONV Vanguard Russell 1000 Value ETF88%99%0.880.93
SCHV Schwab U.S. Large-Cap Value ETF84%95%0.880.91
RSP Invesco S&P 500 Equal Weight ETF92%107%0.861.01
RPV Invesco S&P 500 Pure Value ETF94%117%0.811.08
IJJ iShares S&P Mid-Cap 400 Value ETF93%121%0.771.12
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What diversifies IVE?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with IVE's. Because such investments tend not to fall at the same time, pairing IVE with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which IVE lost money. The last two columns show a portfolio that is 80% IVE and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202220182015201120082002200180/20 mix volatility80/20 mix annual return
IVE iShares S&P 500 Value ETF (this page)1.00+71.7%0.84−5.4%−9.2%−3.3%−0.7%−38.9%−20.8%−11.5%14.6%+11.5%
GLD CommoditiesSPDR Gold Shares0.25+120%0.93−0.8%−1.9%−10.7%+9.6%+4.9%——13.0%+13.2%
DBA AlternativesInvesco DB Agriculture Fund0.26+66.7%0.81+2.5%−8.7%−17.2%−10.7%−19.1%——12.4%+11.6%
DBMF AlternativesiMGP DBi Managed Futures Strategy ETF-0.25+57.5%0.80+21.6%——————11.3%+11.6%
USO CommoditiesUnited States Oil Fund, LP0.07+180%0.74+29.0%−19.6%−46.0%−2.3%−56.3%——14.3%+14.9%
GDX MaterialsVanEck Gold Miners ETF0.38+165%0.70−9.0%−8.8%−24.7%−16.1%−26.1%——16.2%+15.3%
FLSP AlternativesFranklin Systematic Style Premia ETF0.09+51.1%0.69+0.5%——————11.9%+11.1%
PDBC AlternativesInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF0.22+76.2%0.69+19.3%−12.8%−26.8%————12.9%+12.1%
EWZ InternationaliShares MSCI Brazil ETF0.49+105%0.66+12.1%−2.5%−41.8%−24.1%−56.0%−36.4%−18.9%14.9%+11.9%

Stocks

InvestmentCorrelation5Y returnSharpe202220182015201120082002200180/20 mix volatility80/20 mix annual return
IVE iShares S&P 500 Value ETF (this page)1.00+71.7%0.84−5.4%−9.2%−3.3%−0.7%−38.9%−20.8%−11.5%14.6%+11.5%
CAH Medical - DistributionCardinal Health, Inc.0.41+471%1.54+54.1%−24.5%+12.6%+8.1%−39.6%−8.3%−2.5%14.7%+16.9%
CLS Hardware, Equipment & PartsCelestica Inc.0.39+2,780%1.43+1.3%−16.3%−6.0%−24.4%−20.5%−65.1%−25.6%19.5%+29.4%
MCK Medical - DistributionMcKesson Corporation0.34+397%1.41+51.8%−28.4%−4.5%+11.8%−40.4%−27.2%+4.9%14.2%+16.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.48+1,452%1.41+17.0%+0.8%+67.7%−17.0%−15.2%−9.4%+73.7%17.8%+25.4%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.40+660%1.39+86.6%−8.2%+17.4%————15.4%+18.9%
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Common questions

What was IVE's worst drawdown?

IVE's deepest decline since it began trading in 2000 was 61.3%, from October 2007 to March 2009. It took about four years from the low to climb back to its old high.

What were IVE's best and worst years?

Over 25 full calendar years, IVE's best year was 2013, when it returned 31.6%. Its worst was 2008, with a return of -38.9%.

Is there a better investment than IVE?

Among IVE's popular alternatives, VTV, RWL and VLUE were ahead of IVE in most short and long periods. A cheaper fund that has kept up over the past decade is IUSV (0.04% a year against 0.18%).

Is IVE more volatile than the S&P 500?

No. IVE's volatility over the past 5 years was 14.2%, 83% of the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IVE's return lands within 14.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is IVE's Sharpe ratio?

IVE's Sharpe ratio over the past 5 years was 0.84, against 0.78 for the S&P 500, so IVE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is IVE with the S&P 500?

Over the past 5 years, IVE's monthly returns had a correlation of 0.89 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IVE instead: the lower it is, the more that option would diversify a IVE holding.

What are the best alternatives to IVE?

Of the 21 popular alternatives we compared, four outperformed IVE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: FVAL, RWL and VLUE.

Did IVE outperform the S&P 500?

IVE finished ahead of the S&P 500 (SPY) in eight of 25 full calendar years. In 2025, it returned +13.0%, against +17.7% for the index.

How did IVE do in stock market crashes?

IVE fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in four. The clearest case was the 2008 financial crisis, when IVE fell 61.3% and the S&P 500 fell 55.2%.

What diversifies IVE?

These had a low correlation with IVE over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.25), DBA (correlation 0.26) and DBMF (correlation -0.25); among large stocks, CAH (correlation 0.41), CLS (correlation 0.39) and MCK (correlation 0.34). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to IVE

Other stocks and ETFs