BFRZ vs IVV
Innovator Equity Managed 100 Buffer ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | BFRZ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.03% | |
| AUM | $142M | $907.0B | |
| Dividend Yield | 0.27% | 1.10% | |
| Holdings | 191 | 508 | |
| YTD Return | +0.64% | +12.28% | |
| 1Y Return | +4.65% | +20.94% | |
| 3Y Return (annualized) | - | +21.81% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 4.2% | 15.1% | |
| Max Drawdown | -3.1% | -56.5% | |
| Fund Family | Innovator ETFs Trust | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | May 13, 2025 | May 15, 2000 |
BFRZ vs IVV Performance
Innovator Equity Managed 100 Buffer ETF (BFRZ) is a ETF from Innovator ETFs Trust and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year BFRZ returned +4.65% while IVV returned +20.94%. Year to date, BFRZ is up 0.64% versus a gain of 12.28% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 4.2% for BFRZ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -3.1% for BFRZ and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BFRZ charges 0.89% per year while IVV charges 0.03%. On a $10,000 position that is $89 vs $3 annually, a gap of $86 per year that compounds over a long holding period. On income, BFRZ currently yields 0.27% against 1.10% for IVV.
Holdings Overlap
BFRZ and IVV share 121 holdings out of 564 unique holdings combined, representing a 65.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, BFRZ or IVV?
BFRZ has an expense ratio of 0.89% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, BFRZ or IVV?
Over the past year BFRZ returned +4.65% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (1 years), BFRZ annualized +6.32% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, BFRZ or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 4.2% for BFRZ. Worst drawdown: BFRZ -3.1% vs IVV -56.5%.
Should I hold both BFRZ and IVV?
BFRZ and IVV have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BFRZ and IVV?
BFRZ and IVV share 121 common holdings with a 65.8% weight overlap. Combined, they hold 564 unique securities.
Which pays a higher dividend, BFRZ or IVV?
BFRZ yields 0.27% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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