EFR vs IVV
Eaton Vance Senior Floating-Rate Trust vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. EFR offers more diversification with 511 holdings.
Side-by-Side Comparison
| Metric | EFR | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 5.17% | 0.03% | |
| AUM | $374M | $907.0B | |
| Dividend Yield | 7.72% | 1.10% | |
| Holdings | 511 | 508 | |
| YTD Return | +1.32% | +13.22% | |
| 1Y Return | -0.75% | +21.62% | |
| 3Y Return (annualized) | +5.69% | +22.17% | |
| 5Y Return (annualized) | +3.68% | +13.42% | |
| Volatility (annualized) | 15.0% | 15.1% | |
| Max Drawdown | -66.8% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Nov 24, 2003 | May 15, 2000 |
EFR vs IVV Performance
Eaton Vance Senior Floating-Rate Trust (EFR) is a ETF from Eaton Vance and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year EFR returned -0.75% while IVV returned +21.62%. Year to date, EFR is up 1.32% versus a gain of 13.22% for IVV.
Over three years, EFR compounded at +5.69% per year against +22.17% for IVV; over five years the annualized figures are +3.68% and +13.42% respectively. Across the full 23-year window we track, IVV has the edge at +7.02% annualized vs -0.60%. 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 15.0% for EFR. 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 -66.8% for EFR 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EFR charges 5.17% per year while IVV charges 0.03%. On a $10,000 position that is $517 vs $3 annually, a gap of $514 per year that compounds over a long holding period. On income, EFR currently yields 7.72% against 1.10% for IVV.
Holdings Overlap
EFR and IVV share 0 holdings out of 685 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, EFR or IVV?
EFR has an expense ratio of 5.17% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $514 per year of difference.
Which performed better, EFR or IVV?
Over the past year EFR returned -0.75% vs +21.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (23 years), EFR annualized -0.60% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, EFR or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 15.0% for EFR. Worst drawdown: EFR -66.8% vs IVV -56.5%.
Should I hold both EFR and IVV?
EFR and IVV have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EFR and IVV?
EFR and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 685 unique securities.
Which pays a higher dividend, EFR or IVV?
EFR yields 7.72% while IVV yields 1.10%, so EFR currently pays the higher dividend yield.
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