DTF vs IVV
DTF Tax-Free Income 2028 Term Fund Inc 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 505 holdings.
Side-by-Side Comparison
| Metric | DTF | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 2.27% | 0.03% | |
| AUM | $84M | $865.2B | |
| Dividend Yield | 3.24% | 1.09% | |
| Holdings | 82 | 508 | |
| YTD Return | +3.30% | +13.80% | |
| 1Y Return | +5.53% | +23.70% | |
| 3Y Return (annualized) | +5.69% | +21.49% | |
| 5Y Return (annualized) | -1.52% | +13.43% | |
| Volatility (annualized) | 10.2% | 15.1% | |
| Max Drawdown | -48.4% | -56.5% | |
| Fund Family | Duff & Phelps Investment Management Co. | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Nov 29, 1991 | May 15, 2000 |
DTF vs IVV Performance
DTF Tax-Free Income 2028 Term Fund Inc (DTF) is a ETF from Duff & Phelps Investment Management Co. and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year DTF returned +5.53% while IVV returned +23.70%. Year to date, DTF is up 3.30% versus a gain of 13.80% for IVV.
Over three years, DTF compounded at +5.69% per year against +21.49% for IVV; over five years the annualized figures are -1.52% and +13.43% respectively. Across the full 26-year window we track, IVV has the edge at +7.05% annualized vs -0.34%. 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 10.2% 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 -48.4% for DTF 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 0.26. They move independently enough that combining them can meaningfully diversify a portfolio.
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 3.24% against 1.09% for IVV.
Holdings Overlap
DTF and IVV share 0 holdings out of 529 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, DTF or IVV?
DTF has an expense ratio of 2.27% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $224 per year of difference.
Which performed better, DTF or IVV?
Over the past year DTF returned +5.53% vs +23.70% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), DTF annualized -0.34% vs +7.05% for IVV. Past performance does not guarantee future results.
Which is riskier, DTF or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 10.2% for DTF. Worst drawdown: DTF -48.4% vs IVV -56.5%.
Should I hold both DTF and IVV?
DTF and IVV have a monthly-return correlation of 0.26, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DTF and IVV?
DTF and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, DTF or IVV?
DTF yields 3.24% while IVV yields 1.09%, so DTF currently pays the higher dividend yield.
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