Data as of Oct 28, 2026.
IVV vs TEND: Differences, Returns & Fees
Over the year to Oct 28, 2026, IVV returned +13.7% to TEND's +12.1%, and IVV charges 0.03% to TEND's 0.50%.
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Net assets on Oct 27, 2026: $885.1bn for iShares Core S&P 500 ETF and $68m for iShares Large Cap 10% Target Buffer Dec ETF.
Pair scorecard
IVV costs 0.47 points a year less; their one-year returns differ by 1.6 points; IVV is far larger, $885.1bn against $68m.
| Measure | IVV | TEND |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +12.1% |
| Drawdown | ||
| Index fall to the buffer | 11.9% | |
| Fund price fall to the buffer | 10.5% | |
| Benchmark | ||
| What it tracks | S&P 500 | IVV |
| The outcome period | ||
| Room to the cap | 4.5% | |
| Buffer left, in index points | 9.5% of 9.5% | |
| Days left in the period | 65 | |
| Period ends | Dec 31, 2026 | |
| Cost and size | ||
| Expense ratio | 0.03% | 0.50% |
| Net assets, as of Oct 27, 2026 | $885.1bn | $68m |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Risk and return
Oct 17, 2025 to Oct 23, 2026 · 53 weekly returnsEach against its own benchmark: IVV against SPY, May 26, 2000 to Oct 23, 2026; TEND against IVV, Oct 17, 2025 to Oct 23, 2026.
IVV returned more: +15.7% to +12.3%. TEND swung less: 7.0% to 12.1%. TEND fell less at its worst: −5.6% to −8.4%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IVV | TEND | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +15.7% | +12.3% | IVV | Price change plus distributions, reinvested. |
| Annualized | +15.3% | +12.1% | IVV | Total return as a yearly rate. |
| Price return | +14.3% | +12.2% | IVV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 12.1% | 7.0% | TEND | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.1% | 3.9% | TEND | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −8.4% | −5.6% | TEND | Deepest fall from a high to the low after it. |
| Upside capture | 99.3% | 52.0% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.7% | 58.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.56 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.93 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.92 | 1.13 | TEND | Return above Treasury bills per unit of volatility. |
| Sortino | 1.59 | 2.00 | TEND | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.081 | 0.141 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.83 | 2.17 | TEND | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | IVV | The ETF each fund is measured against. | |
| Alpha | +0.1% a year | +1.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.33 | 0.89 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.5% | −2.0% to +5.3% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.00 | −0.59 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.2% | 5.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 53 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
IVV and TEND on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IVV and TEND do different jobs. What does each one do in a portfolio?
- What each follows. IVV follows S&P 500 and TEND follows IVV.
- Cost. IVV charges 0.03% of assets a year and TEND 0.50%, a gap of 0.47 points.
- Size. IVV has $885.1bn in net assets and TEND $68m (net assets, as of Oct 27, 2026); IVV is 13016.2 times larger.
Data as of Oct 28, 2026.
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IVV
IVV tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.6% for its benchmark, the S&P 500. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.1%.
TEND
From its price on Oct 27, 2026, the fund can gain about 4.5% more before it reaches its cap. The fund's price can fall 10.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, IVV can fall 11.9% from today's level to the point where the buffer begins. Protection left, in index points: 9.5% of the 9.5% buffer still sits below today's IVV level. 65 days remained on Oct 27, 2026. On Dec 31, 2026 the period ends and a new cap is set.
Questions people ask
- Are IVV and TEND in the same category?
- IVV is a stock ETF and TEND is a buffer ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, IVV or TEND?
- In the year to Oct 28, 2026, with distributions reinvested, IVV returned +13.7% and TEND +12.1%.
- Which is cheaper, IVV or TEND?
- IVV is cheaper, by 0.47 percentage points a year. That is about $47 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, IVV against TEND, data as of Oct 28, 2026. https://etfiq.com/compare/any/ivv-vs-tend
ETFIQ. (Oct 28, 2026). IVV against TEND. Retrieved from https://etfiq.com/compare/any/ivv-vs-tend
[IVV against TEND (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ivv-vs-tend)
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