VGS and IVV overlap by about 70%: owning both mostly doubles up. IVV is cheaper (0.04% vs 0.18% a year), about $140 a year less on $100,000. VGS is the bigger fund ($18.7b vs $14.9b). IVV holds only US companies. VGS holds the US (around 70%) plus Europe, Japan and other developed markets.
📅 As at 30 September 2026: fees, size, flows and returns from the TMX Australia funds report; overlap from published holdings as at 30 September 2026.
VGS
Vanguard MSCI Index International Shares ETFVGS invests in more than a thousand large companies across the world’s developed markets outside Australia, weighted by size. It is one of the most popular ways for Australians to own global shares.
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.
VGS vs IVV 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.
| VGS | IVV | |
|---|---|---|
| Issuer | Vanguard | iShares (BlackRock) |
| Index | MSCI World ex Australia Index | S&P 500 Index |
| Fee (a year) | 0.18% | 0.04% |
| Size | $18.7b | $14.9b |
| Net money in, September | +$532m | −$84m |
| 1-year return | +10.1% | +10.1% |
| 5-year return | +75% | +88% |
| Listed | 2014 | 2007 |
| Top 10 holdings | 35% of fund | 41% of fund |
| Trend now | Base | Base |
How much do VGS and IVV overlap?
About 70% of their holdings are the same, by weight: high overlap, so owning both mostly doubles up.
The biggest companies they both own
| Company | VGS | IVV |
|---|---|---|
| NVIDIA CorpInformation Technology | 7.0% | 8.1% |
| Apple IncInformation Technology | 6.5% | 8.2% |
| Microsoft CorpInformation Technology | 4.8% | 6.3% |
| Alphabet (Google)Communication Services | 4.8% | 4.8% |
| Amazon.com IncConsumer Discretionary | 3.2% | 3.8% |
| Meta Platforms IncCommunication Services | 2.1% | 2.2% |
| Broadcom IncInformation Technology | 2.1% | 2.5% |
| Micron Technology IncInformation Technology | 1.6% | 1.6% |
| Tesla IncConsumer Discretionary | 1.4% | 1.8% |
| Advanced Micro Devices IncInformation Technology | 1.3% | 1.3% |
Only in VGS
- Asml Holding NV 0.9%
Only in IVV
- 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.
VGS or IVV: 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 VGS and IVV.
See the exact overlap with everything you hold, plus the trend of each ETF, in our free calculator.
More comparisons
VGS vs IVV FAQs
Is VGS or IVV better?
Neither is better for everyone. IVV holds only US companies. VGS holds the US (around 70%) plus Europe, Japan and other developed markets. Choose VGS if you want one fund for all developed markets, not just the US. Choose IVV if you want US shares only, at one of the lowest fees on the ASX, and plan to add other regions separately or not at all.
What is the difference between VGS and IVV?
VGS and IVV overlap by about 70%: owning both mostly doubles up. IVV is cheaper (0.04% vs 0.18% a year), about $140 a year less on $100,000. VGS is the bigger fund ($18.7b vs $14.9b). IVV holds only US companies. VGS holds the US (around 70%) plus Europe, Japan and other developed markets.
Should I own both VGS and IVV?
Usually there’s little point. With 70% overlap, owning both mostly doubles up on the same companies. Pick one.
Which is cheaper, VGS or IVV?
IVV is cheaper (0.04% vs 0.18% a year), about $140 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 VGS or IVV. Consider the PDS and TMD, and your own circumstances, before investing.