Direct Answer
IVV is the iShares Core S&P 500 ETF, managed by BlackRock. It is an open-end ETF that seeks to track the S&P 500 Index. BlackRock reported a 0.03% expense ratio for IVV as of 2026, and more than $860 billion in assets under management as of late July 2026. IVV launched on May 15, 2000. Like VOO, it uses an open-end structure that allows continuous dividend reinvestment, contrasting with SPY's unit investment trust structure.
Source: BlackRock, iShares Core S&P 500 ETF (IVV). verified September 7, 2026. This profile does not constitute a recommendation.
Fund Snapshot (as of September 2026)
| Fact | Value | As of / Source |
|---|---|---|
| Full name | iShares Core S&P 500 ETF | BlackRock iShares product page |
| Ticker | IVV | NYSE Arca listing |
| Issuer | BlackRock / iShares | BlackRock iShares product page |
| Structure | Open-end ETF | BlackRock / SEC filings |
| Benchmark | S&P 500 Index | BlackRock iShares product page |
| Inception date | May 15, 2000 | BlackRock iShares product page |
| Expense ratio | 0.03% | 2026: BlackRock |
| Assets under management | >$860 billion | Late Jul 2026: BlackRock |
| 30-day median bid/ask spread | 0.01% | Late Jul 2026: BlackRock |
What does IVV track?
IVV is the iShares Core S&P 500 ETF, managed by BlackRock. It seeks to track the investment results of an index composed of large-capitalization U.S. equities, specifically the S&P 500 Index. It is an open-end ETF registered under the Investment Company Act of 1940.
The S&P 500 is a market-capitalization-weighted index of approximately 500 large U.S. publicly traded companies, maintained by S&P Dow Jones Indices. Membership is determined by an index committee applying criteria related to market capitalization, public float, domicile, sector balance, financial viability and liquidity.
IVV's open-end ETF structure
IVV is registered as an open-end fund under the Investment Company Act of 1940. This structure contrasts with SPY's unit investment trust registration. As an open-end ETF, IVV can reinvest dividends continuously as they arrive from underlying holdings, rather than holding dividend cash until a periodic distribution. This avoids the cash drag that results when uninvested dividend cash earns less than the index benchmark during the accumulation period.
IVV may also engage in securities lending, using proceeds to generate income that can partially offset fund expenses. BlackRock is one of the largest securities lenders, a scale that can benefit iShares fund holders through lending revenue.
IVV's expense ratio and cost
BlackRock reported a 0.03% expense ratio for IVV as of 2026. This is the same rate as VOO. On a hypothetical constant $10,000 balance that is approximately $3 per year in fund-level expenses before market movement. Actual costs also include bid-ask spread on exchange transactions and possible brokerage commissions.
BlackRock also reported a 30-day median bid/ask spread of 0.01% as of late July 2026, indicating that the cost of transacting in IVV shares is typically very low, though actual spread at any moment depends on market conditions. Verify the current figure in BlackRock's iShares product page or the fund's prospectus.
IVV vs. SPY vs. VOO
All three funds target the S&P 500 benchmark. The primary distinctions are structural and cost-related. SPY uses a unit investment trust structure that creates cash drag from dividend accumulation and carries a higher expense ratio. IVV and VOO are both open-end ETFs with the same 0.03% expense ratio as of 2026.
IVV was launched in May 2000, making it 10 years older than VOO (September 2010) but 7 years younger than SPY (January 1993). BlackRock's larger institutional relationships and the iShares brand's global presence mean IVV can offer institutional investors access to securities lending programs that add revenue. For most long-term buy-and-hold investors, the choice among IVV, VOO, and comparable funds comes down to brokerage relationships, existing tax lots, and minor operational differences rather than material return differences.
Frequently Asked Questions
- What does IVV track?
- IVV is the iShares Core S&P 500 ETF, managed by BlackRock. It seeks to track the investment results of an index composed of large-capitalization U.S. equities, specifically the S&P 500 Index. It is an open-end ETF registered under the Investment Company Act of 1940.
- What is IVV's expense ratio?
- BlackRock reported a 0.03% expense ratio for IVV as of 2026. On a hypothetical constant $10,000 balance that is approximately $3 per year in fund-level expenses before market movement. Verify the current figure in BlackRock's iShares product page or the fund's prospectus.
- How does IVV differ from SPY?
- IVV is an open-end ETF while SPY is a unit investment trust. This means IVV can reinvest dividends continuously rather than accumulating them as cash until a quarterly distribution, reducing cash drag relative to the benchmark. IVV's expense ratio (0.03% as of 2026) is also lower than SPY's (0.0945% as of September 6, 2026). Both track the S&P 500 Index.
- When did IVV launch?
- IVV launched on May 15, 2000, making it older than VOO (2010) but newer than SPY (1993). It is one of the three largest S&P 500 ETFs by assets under management.
References
- BlackRock, iShares Core S&P 500 ETF (IVV). primary fund facts page, verified September 7, 2026.
- SEC EDGAR, EDGAR Search, prospectus and filing verification.