IVOO vs TMSL: Differences, Returns & Fees
IVOO and TMSL hold 33% of their weight in the same names, and TMSL returned +16.9% over the year. Net assets: $3.7bn on Sep 30, 2026 for Vanguard S&P Mid-Cap 400 ETF, and $3.1bn on Oct 20, 2026 for T. Rowe Price Small-Mid Cap ETF.
IVOO costs 0.48 points a year less; their one-year returns differ by 3.3 points.
| IVOO | TMSL | |
|---|---|---|
| Expense ratio | 0.07% | 0.55% |
| Net assets, IVOO as of Sep 30, 2026 and TMSL as of Oct 20, 2026 | $3.7bn | $3.1bn |
| Total return, 1 year | +13.6% | +16.9% |
| What it tracks | S&P MidCap 400 Index | No index, actively managed |
| Holdings in common | 33% | |
| Top ten holdings, share of the fund | 7.8% | 9.8% |
| Below its high | 6.7%, high on Aug 14, 2026 | 8.3%, high on Aug 14, 2026 |
Holdings in common uses holdings dated Jun 30, 2026 and Sep 30, 2026.
IVOO and TMSL are built for the same job. How do they differ in cost, holdings and results?
- What each follows. IVOO follows S&P MidCap 400 Index and TMSL follows No index, actively managed.
- Holdings in common. 33% of the weight is in the same securities (holdings dated Sep 30, 2026 and Jun 30, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 IVOO returned +13.6% and TMSL +16.9% with distributions reinvested, a gap of 3.3 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, IVOO and TMSL hold 33% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Sep 30, 2026.
half
33% in common
On the same fields
IVOO and TMSL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About IVOO
IVOO tracks an index. Over the year to Oct 20, 2026 it returned +13.6% with distributions reinvested, against +13.4% for its benchmark, the S&P MidCap 400 Index. The prospectus expense ratio is 0.07% a year. By its holdings published by its issuer as of Sep 30, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 402 positions, with the top ten at 7.8%. It sat 6.7% below its high of Aug 14, 2026 on Oct 20, 2026.
About TMSL
TMSL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 297 positions, with the top ten at 9.8%. It sat 8.3% below its high of Aug 14, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +16.9% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, IVOO or TMSL?
- In the year to Oct 20, 2026, with distributions reinvested, IVOO returned +13.6% and TMSL +16.9%.
- Which is cheaper, IVOO or TMSL?
- IVOO is cheaper, by 0.48 percentage points a year. That is about $48 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, IVOO against TMSL, data as of Oct 20, 2026. https://etfiq.com/compare/any/ivoo-vs-tmsl
ETFIQ. (Oct 20, 2026). IVOO against TMSL. Retrieved from https://etfiq.com/compare/any/ivoo-vs-tmsl
[IVOO against TMSL (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/ivoo-vs-tmsl)
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