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Dividend Vision

ETF Comparison

IVV vs ITOT: Large Caps Only, or the Whole US Market?

A head-to-head of iShares Core S&P 500 and iShares Core S&P Total U.S. Stock Market covering breadth, cost, and overlap.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • ITOTInvestors who want broad equity exposure.
  • IVVInvestors who want simple, diversified core exposure in one low-cost fund.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

ITOT has lagged IVV over the trailing twelve months, posting a 16.15% total return against 16.43%. The lead holds up over 10 years too: IVV has compounded at 15.45% a year, against 14.82% for ITOT. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Jan 2004Volatility Sharpe Sortino Max drawdown
ITOT13.45%16.15%22.82%12.52%14.82%10.70%15.3%1.051.53-19.4%
IVV13.60%16.43%23.23%13.70%15.45%10.82%14.9%1.101.60-18.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jan 2004” measures every fund from January 23, 2004 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricITOTIVV
Full nameiShares Core S&P Total U.S. Stock Market ETFiShares Core S&P 500 ETF
IssueriSharesiShares
Underlying indexS&P Total Market IndexS&P 500 Index
Last Close$167.95 as of October 2, 2026$773.10 as of October 2, 2026
Distribution rate1.08%1.14%
Trailing 12-month yield1.00%1.09%
Distribution Safety Score™ 96100
Safety-Adjusted Yield 1.04%1.14%
Expense ratio0.03%0.03%
AUM$96.9B$888B
Distribution frequencyQuarterlyQuarterly
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.Seeks to track the investment results of an index composed of large-capitalization U.S. equities, measuring the performance of the large-cap sector of the U.S. equity market as determined by S&P Dow Jones Indices.
Asset classEquityEquity
Inception date01/20/200405/15/2000
Beta1.031.0
Last dividend$0.453$2.20261
Ex-dividend date09/15/202609/15/2026

Bottom lineChoose ITOT if you want broad equity exposure. Choose IVV if you want simple, diversified core exposure in one low-cost fund.

IVV vs ITOT: S&P 500 or the total US market?

ITOT already contains IVV's large caps plus mid and small caps. Holding both mostly duplicates US large caps.

ITOTIVV
IndexS&P Total MarketS&P 500 Index
Expense ratio0.03%0.03%
Fund size$96.9B$888B
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

iShares
ETFs466
Total AUM$4683B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on ITOT and IVV.

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Quick verdict

ITOT (iShares Core S&P Total U.S. Stock Market ETF) and IVV (iShares Core S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

IVV offers the higher yield at 1.14% vs 1.08% for ITOT. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They have different reference exposures: ITOT is linked to S&P Total Market Index while IVV is linked to S&P 500 Index, which means their performance drivers differ.

IVV is the larger fund by assets ($888B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, ITOT would generate roughly $27.00 cash per distribution, while IVV would produce $28.50 cash per distribution, at current distribution rates. Both pay quarterly distributions.

ITOT yield1.08%
IVV yield1.14%
Cash diff on $10K$1.50

Cost & efficiency

Over 10 years on $10,000, ITOT would cost approximately $30 in fees vs $30 for IVV (simplified, not compounded). Both charge the same expense ratio.

ITOT ER0.03%
IVV ER0.03%

Strategy & risk

ITOT tracks S&P Total Market Index with an index approach, while IVV tracks S&P 500 Index. Beta is 1.03 for ITOT and 1.0 for IVV — effectively similar market sensitivity.

ITOT beta1.03
IVV beta1.0

Fund details

ITOT is managed by iShares (launched 01/20/2004) with $96.9B in assets. IVV is managed by iShares (launched 05/15/2000) with $888B in assets.

ITOT AUM$96.9B
IVV AUM$888B
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Frequently asked questions

What is the difference between IVV and ITOT?

IVV (iShares Core S&P 500 ETF) tracks S&P 500 Index. ITOT (iShares Core S&P Total U.S. Stock Market ETF) tracks the whole US stock market, so it already contains IVV's large caps plus mid and small caps. Cost is 0.03% versus 0.03%; size is $888B versus $96.9B. Distributions are 1.14% and 1.08% as of October 2026. Breadth, not a tiny yield gap, is the comparison.

What is the current distribution rate for ITOT and IVV?

ITOT currently distributes 1.08% and IVV 1.14%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is ITOT or IVV better for dividend income?

It depends on your goals. IVV currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both ITOT and IVV?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is ITOT or IVV safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — IVV scores 100, ITOT scores 96, so IVV's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, ITOT or IVV?

ITOT and IVV both charge the same expense ratio of 0.03%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in ITOT vs IVV generate?

At current rates, $10,000 in ITOT would generate roughly $27.00 cash per distribution ($108.00 annually). The same in IVV would produce about $28.50 cash per distribution ($114.00 annually).

Which has performed better historically, ITOT or IVV?

ITOT has lagged IVV over the trailing twelve months, posting a 16.15% total return against 16.43%. The lead holds up over 10 years too: IVV has compounded at 15.45% a year, against 14.82% for ITOT. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

ITOT vs IVV — at a glance

Generated October 3, 2026.

Overview

ITOT and IVV are both iShares equity index ETFs with identical expense ratios, but they track different market slices. ITOT targets the total U.S. stock market (all cap sizes), while IVV tracks only the S&P 500's large-cap stocks. The key distinction is breadth: ITOT includes mid and small caps; IVV does not.

How they differ

ITOT holds the entire U.S. This means ITOT carries exposure to mid-cap and small-cap stocks that IVV excludes entirely. Both charge 0.03%, so cost is a wash. IVV yields slightly higher at 1.14% versus 1.08%, reflecting the dividend profile of mega-cap stocks. IVV is vastly larger, with $888B in assets versus $96.9B, and has a longer track record dating to 05/15/2000.

Who each is best for

ITOT: Fits investors wanting genuine total-market exposure who believe smaller publicly traded companies will contribute meaningfully to long-term returns and want to avoid the concentration risk of holding only the 500 largest firms.

IVV: Designed for investors comfortable with large-cap concentration and seeking the simplest, most liquid way to track the 500 companies that dominate U.S. market capitalization and earnings.

Key risks to know

  • Concentration in mega-cap exposure. IVV's S&P 500 focus means the top 10 holdings drive a material portion of returns, creating sector and single-name concentration risk that ITOT spreads across a broader cap range.
  • Small-cap and mid-cap omission in IVV. Investors using IVV miss any outperformance from mid-cap and small-cap segments, which have historically delivered different risk-adjusted returns than large-cap stocks in various market cycles.
  • Market-cap weighting limits diversification across both. Both funds weight by market capitalization, so growth stocks and the largest firms naturally dominate; neither provides equal-weight or alternative weighting schemes to offset concentration in popular sectors.
  • Dividend yield sensitivity to interest rates. Both funds' distribution rates are vulnerable to falling corporate earnings or dividend cuts during recession; the modest 1.08%–1.14% yields offer limited cushion against principal volatility in down markets.

Bottom line

If you want true diversification across all U.S. public companies and believe mid and small caps merit portfolio weight, ITOT's broader mandate justifies its choice despite lower yield. If you're comfortable concentrating in the 500 largest firms and value the slightly higher current yield and deeper trading liquidity of the mega-cap benchmark, IVV is the more straightforward vehicle. Past performance does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

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These comparisons follow the Dividend Vision methodology.