IVV and IHVV overlap by about 100%: owning both mostly doubles up. IVV is cheaper (0.04% vs 0.10% a year), about $60 a year less on $100,000. IVV is the bigger fund ($14.9b vs $4.3b). The same 500 US companies. IHVV hedges the currency to Australian dollars; IVV doesn’t.
📅 As at 30 September 2026: fees, size, flows and returns from the TMX Australia funds report; overlap from published holdings as at 30 October 2026.
IVV
iShares S&P 500 ETFIVV invests in the 500 large US companies in the S&P 500 index, weighted by size. It is one of the cheapest ETFs on the ASX.
IHVV
iShares S&P 500 Aud Hedged ETFIHVV invests in the 500 large US companies in the S&P 500, with the currency hedged back to Australian dollars.
IVV vs IHVV side by side
Green marks the cheaper, bigger or better-performing fund on each line. Past returns are not a reliable guide to the future.
| IVV | IHVV | |
|---|---|---|
| Issuer | iShares (BlackRock) | iShares (BlackRock) |
| Index | S&P 500 Index | S&P 500 Index (hedged into Australian dollars) |
| Fee (a year) | 0.04% | 0.10% |
| Size | $14.9b | $4.3b |
| Net money in, September | −$84m | +$48m |
| 1-year return | +10.1% | +15.4% |
| 5-year return | +88% | +68% |
| Listed | 2007 | 2014 |
| Top 10 holdings | 41% of fund | 41% of fund |
| Trend now | Base | Base |
How much do IVV and IHVV overlap?
About 100% of their holdings are the same, by weight: high overlap, so owning both mostly doubles up.
The biggest companies they both own
| Company | IVV | IHVV |
|---|---|---|
| Apple IncInformation Technology | 8.2% | 8.2% |
| NVIDIA CorpInformation Technology | 8.1% | 8.1% |
| Microsoft CorpInformation Technology | 6.3% | 6.3% |
| Alphabet (Google)Communication Services | 4.8% | 4.8% |
| Amazon.com IncConsumer Discretionary | 3.8% | 3.8% |
| Broadcom IncInformation Technology | 2.5% | 2.5% |
| Meta Platforms IncCommunication Services | 2.2% | 2.2% |
| Eli Lilly & CoHealth Care | 1.9% | 1.9% |
| Tesla IncConsumer Discretionary | 1.8% | 1.8% |
| Berkshire HathawayFinancials | 1.7% | 1.6% |
Only in IVV
- No holdings above 0.5%: the differences are all small positions.
Only in IHVV
- No holdings above 0.5%: the differences are all small positions.
Sectors and countries
Sectors
Countries
Trend: base, uptrend or downtrend?
Past year of prices, shaded by trend stage. The dashed line is the 200-day exponential average. As at 4 November 2026. How base and trend works.
IVV or IHVV: which suits who?
Where either fits depends on the rest of your portfolio: whether it’s your core or a satellite. See core and satellite investing and our full profiles of IVV and IHVV.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
IVV vs IHVV FAQs
Is IVV or IHVV better?
Neither is better for everyone. The same 500 US companies. IHVV hedges the currency to Australian dollars; IVV doesn’t. Choose IVV if you want unhedged US exposure at one of the lowest fees available. Choose IHVV if you want returns that aren’t affected by the Australian dollar, for a small extra fee.
What is the difference between IVV and IHVV?
IVV and IHVV overlap by about 100%: owning both mostly doubles up. IVV is cheaper (0.04% vs 0.10% a year), about $60 a year less on $100,000. IVV is the bigger fund ($14.9b vs $4.3b). The same 500 US companies. IHVV hedges the currency to Australian dollars; IVV doesn’t.
Should I own both IVV and IHVV?
Usually there’s little point. With 100% overlap, owning both mostly doubles up on the same companies. Pick one.
Which is cheaper, IVV or IHVV?
IVV is cheaper (0.04% vs 0.10% a year), about $60 a year less on $100,000. Fees are taken from the fund’s returns, not charged separately.
Fees, size, flows and returns: TMX Australia Funds Report to 30 September 2026; returns are total returns and the 5-year figure is cumulative. Overlap, sectors and countries are based on each fund’s published holdings, scaled to the part of each fund we can see. Trend stages are a technical indicator based on 10, 20, 50 and 200-day exponential moving averages; they describe the past, not the future. General information only, not a recommendation to buy or sell IVV or IHVV. Consider the PDS and TMD, and your own circumstances, before investing.