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IVV

$62.85-0.3%S&P 50089/100
Fund Page ↗

iShares S&P 500 ETF · BlackRock

Data as at 29 March 2026

TL;DR

Tracks the 500 largest US companies at 0.03% per year. Australian-domiciled, which avoids the US estate tax and W-8BEN withholding tax issues that affect US-domiciled alternatives like SPY and VTS.

MER (Annual Fee)
0.04%
#2 lowest in S&P 500
1Y Return
+5.1%
3Y Return (p.a.)
+17.3%
Dividend Yield
1.09%
Trailing 12 months
AUM
$12,543.7M
Assets under management
Avg Daily Turnover
$16.1M
Avg shares × unit price
Unit Price
$62.85
As at 29 March 2026
Provider
BlackRock
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Strategy

Full physical replication of the S&P 500. Managed by BlackRock and domiciled in Australia. The Australian domicile structure means investors do not face US estate tax on holdings and dividend withholding tax is handled at the fund level.

Top Holdings

Apple
7.1%
Microsoft
6.5%
NVIDIA
6.2%
Amazon
3.8%
Meta
2.4%
Alphabet
2.3%
Berkshire Hathaway
1.7%
Tesla
1.4%
Broadcom
1.3%
JPMorgan
1.2%
Key Fact

IVV is Australian-domiciled. Australian investors in SPY or VTS can face US estate tax on holdings above US$60,000 if they die. IVV avoids this because the fund itself is domiciled in Australia, not in the US.

Suited for

Australian investors wanting S&P 500 exposure in an AUD-denominated fund that avoids US estate tax. IVV is Australian-domiciled, unlike SPY and VTS which are US-domiciled.

Risks

Returns are unhedged, so a rising AUD reduces AUD-denominated returns. The top 10 holdings make up roughly 35% of the fund. Technology and communications account for over 40% of the S&P 500 index.

IVV Comparisons

ETFCheck Score89/100
Fees (40%)94
Fund Size (25%)89
Liquidity (20%)83
Yield (15%)83
How scores are calculated →
Other S&P 500 ETFs
IHVV
0.10% MER
73
USX
0.07% MER
73
VTS
0.03% MER
61
SPY
0.09% MER
49View all S&P 500 ETFs →

Frequently Asked Questions - IVV

Why is IVV the most popular US ETF on the ASX for Australian investors?+
IVV combines the lowest S&P 500 MER on the ASX at just 0.04% with over $12 billion in AUM, making it the most liquid US equity ETF available to Australians. Tight bid-ask spreads mean lower trading costs for SMSFs and retail investors alike. Its dominance over rivals like SPY (0.09% MER) and strong 1-year return of 19.6% make it the default choice for unhedged US large-cap exposure on the ASX.
How are IVV dividends taxed for Australian investors and SMSF holders?+
IVV distributions are classified as foreign income and do not carry franking credits, since the underlying companies are US-domiciled. Australian investors must declare distributions in their tax return, and a 15% US withholding tax is typically applied before you receive payment. SMSF trustees can claim a foreign income tax offset with the ATO to avoid double taxation, making IVV tax-efficient within compliant super structures.
What currency risk does IVV carry compared to the hedged alternative IHVV?+
IVV is unhedged, meaning your returns are directly affected by AUD/USD movements. When the Australian dollar weakens against the US dollar, IVV returns get a boost - and vice versa. This partly explains IVV's stronger 1-year return of 19.6% versus IHVV's 17.4%. Investors wanting pure S&P 500 performance without currency impact should consider IHVV, while those comfortable with forex exposure often prefer IVV's lower 0.04% MER.
Should I choose IVV or VTS for broad US share market exposure on the ASX?+
IVV tracks the S&P 500 (500 large-caps) while VTS covers the entire US market with over 4,000 stocks including mid- and small-caps, at an even lower 0.03% MER. However, VTS uses a feeder fund structure into a US-domiciled Vanguard ETF, which creates additional tax complexity around US estate tax exposure for holdings exceeding US$60,000. IVV's simpler Australian-domiciled structure and superior ASX liquidity make it preferable for many investors.