DTF vs IVV
DTF Tax-Free Income 2028 Term Fund Inc vs iShares Core S&P 500 ETF
Which is better, DTF or IVV?
Municipal Bond against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
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 | DTF | IVV |
|---|---|---|
| Expense Ratio | 2.27% | 0.03%Best |
| AUM | $84M | $876.4B |
| Dividend Yield | 3.26% | 1.06% |
| Holdings | 82 | 508 |
| YTD Return | +2.13% | +12.39%Best |
| 1Y Return | +3.69% | +16.61%Best |
| 3Y Return (annualized) | +5.23% | +21.38%Best |
| 5Y Return (annualized) | -1.65% | +13.51%Best |
| Volatility (annualized) | 10.4%Best | 15.1% |
| Max Drawdown | -46.8%Best | -56.5% |
| $10,000 over 5 years | $9,202 | $18,844Best |
| Fund Family | Duff & Phelps Investment Management Co. | iShares by BlackRock (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Blend |
| Inception | Nov 29, 1991 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 18, 2026 (26.3 years).
DTF 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
DTF vs IVV Performance
DTF Tax-Free Income 2028 Term Fund Inc (DTF) is an ETF from Duff & Phelps Investment Management Co. and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year DTF returned +3.69% while IVV returned +16.61%. Year to date, DTF is up 2.13% versus a gain of 12.39% for IVV.
Over three years, DTF compounded at +5.23% per year against +21.38% for IVV; over five years the annualized figures are -1.65% and +13.51% respectively. Across the full 26-year window we track, IVV has the edge at +6.96% annualized vs +0.18%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 10.4% for DTF. 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 -46.8% for DTF and -56.5% 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 0.26. They move largely independently of each other.
Fees and Cost Over Time
DTF charges 2.27% per year while IVV charges 0.03%. On a $10,000 position that is $227 vs $3 annually, a gap of $224 per year that compounds over a long holding period. On income, DTF currently yields 3.26% against 1.06% for IVV.
Holdings Overlap
We hold position weights for 24 holdings in DTF and 490 in IVV, totalling 31.9% and 99.3% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 213 days apart, DTF as of Jan 30, 2026 and IVV as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 24 positions we hold weights for in DTF and 490 in IVV, against full books of 82 and 508.
You are not choosing between two funds in isolation.
Whichever of DTF and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DTF or IVV?
DTF has an expense ratio of 2.27% while IVV charges 0.03%. IVV is the cheaper option, by $224 a year on a $10,000 investment.
Which performed better, DTF or IVV?
Over the past year DTF returned +3.69% vs +16.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), DTF annualized +0.18% vs +6.96% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DTF or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 10.4% for DTF. Worst drawdown: DTF -46.8% vs IVV -56.5%.
Should I hold both DTF and IVV?
DTF and IVV have a monthly-return correlation of 0.26, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DTF or IVV?
DTF yields 3.26% while IVV yields 1.06%, so DTF currently pays the higher dividend yield.
Is IVV better than DTF?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.