BFRZ vs IVV
Innovator Equity Managed 100 Buffer ETF vs iShares Core S&P 500 ETF
Which is better, BFRZ or IVV?
Option Writing against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 38.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BFRZ | IVV |
|---|---|---|
| Expense Ratio | 0.89% | 0.03%Best |
| AUM | $145M | $876.4B |
| Dividend Yield | 0.27% | 1.06% |
| Holdings | 370 | 508 |
| YTD Return | +0.15% | +11.57%Best |
| 1Y Return | +2.66% | +17.57%Best |
| 3Y Return (annualized) | - | +20.71% |
| 5Y Return (annualized) | - | +12.80% |
| Volatility (annualized) | 4.2%Best | 12.1% |
| Max Drawdown | -3.1%Best | -8.9% |
| $10,000 over 1.3 years | $10,741 | $13,030Best |
| Top 10 Weight | 38.4% | 37.9%Best |
| Fund Family | Innovator ETFs Trust | iShares by BlackRock (US) |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | May 13, 2025 | May 15, 2000 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: May 13, 2025 to Sep 10, 2026 (1.3 years).
BFRZ vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
BFRZ vs IVV Performance
Innovator Equity Managed 100 Buffer ETF (BFRZ) is an ETF from Innovator ETFs Trust and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year BFRZ returned +2.66% while IVV returned +17.57%. Year to date, BFRZ is up 0.15% versus a gain of 11.57% for IVV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.1% 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 -8.9% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
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 1.06% for IVV.
Holdings Overlap
90.2% of BFRZ's money is in holdings IVV also owns. 67.9% of IVV's money is in holdings BFRZ also owns.
Most of BFRZ is already inside IVV. Owning both mostly buys the same companies twice.
123 positions in common, counted across the 180 positions we hold weights for in BFRZ and 505 in IVV, against full books of 370 and 508.
What only one of them owns
Our book lists 373 positions for IVV that do not appear in our book for BFRZ (31.4% of the fund), and 49 for BFRZ that do not appear in IVV (5.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BFRZ | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.77% | 7.98% | 0.21% |
| AAPLApple, Inc | 7.07% | 6.86% | 0.21% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.63% | 5.44% | 0.19% |
| AMZNAmazon.Com Inc | 3.98% | 4.01% | 0.03% |
| GOOGLAlphabet A Usd 0.001 | 3.09% | 3.19% | 0.10% |
| AVGOBroadcom Inc | 2.75% | 2.98% | 0.23% |
| GOOGAlphabet Inc | 2.57% | 2.56% | 0.01% |
| METAMeta Platforms, Inc. | 1.95% | 1.94% | 0.01% |
| MUMicron Technology, Inc. | 1.84% | 1.51% | 0.33% |
| JPMJpmorgan Chase & Co. | 1.76% | 1.45% | 0.31% |
90.2% of BFRZ is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $86 a year on a $10,000 investment.
Which performed better, BFRZ or IVV?
Over the past year BFRZ returned +2.66% vs +17.57% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (1 years), BFRZ annualized +5.65% vs +22.58% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BFRZ or IVV?
IVV has been the more volatile fund at 12.1% annualized versus 4.2% for BFRZ. Worst drawdown: BFRZ -3.1% vs IVV -8.9%.
Should I hold both BFRZ and IVV?
BFRZ and IVV have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BFRZ and IVV?
90.2% of BFRZ's money is in holdings IVV also owns. 67.9% of IVV's is in holdings BFRZ also owns. They hold 123 positions in common, counted across the 180 positions we hold weights for in BFRZ and 505 in IVV.
Which pays a higher dividend, BFRZ or IVV?
BFRZ yields 0.27% while IVV yields 1.06%, so IVV currently pays the higher dividend yield.
Is IVV better than BFRZ?
IVV has a lower expense ratio. IVV led over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 38.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.