CATF vs IVV
American Century California Municipal Bond 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 | CATF | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.03% | |
| AUM | $82M | $907.0B | |
| Dividend Yield | 3.57% | 1.10% | |
| Holdings | 304 | 508 | |
| YTD Return | +0.86% | +12.96% | |
| 1Y Return | +5.50% | +20.70% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.40% | |
| Volatility (annualized) | 4.2% | 15.1% | |
| Max Drawdown | -5.1% | -56.5% | |
| Fund Family | American Century Investments | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jul 16, 2024 | May 15, 2000 |
CATF vs IVV Performance
American Century California Municipal Bond ETF (CATF) is a ETF from American Century Investments and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CATF returned +5.50% while IVV returned +20.70%. Year to date, CATF is up 0.86% versus a gain of 12.96% 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 CATF. 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 -5.1% for CATF 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CATF charges 0.25% per year while IVV charges 0.03%. On a $10,000 position that is $25 vs $3 annually, a gap of $22 per year that compounds over a long holding period. On income, CATF currently yields 3.57% against 1.10% for IVV.
Holdings Overlap
CATF and IVV share 0 holdings out of 589 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CATF or IVV?
CATF has an expense ratio of 0.25% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, CATF or IVV?
Over the past year CATF returned +5.50% vs +20.70% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), CATF annualized +2.48% vs +7.01% for IVV. Past performance does not guarantee future results.
Which is riskier, CATF or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 4.2% for CATF. Worst drawdown: CATF -5.1% vs IVV -56.5%.
Should I hold both CATF and IVV?
CATF and IVV have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CATF and IVV?
CATF and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 589 unique securities.
Which pays a higher dividend, CATF or IVV?
CATF yields 3.57% while IVV yields 1.10%, so CATF currently pays the higher dividend yield.
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