ETJ vs IVV
Eaton Vance Risk-Managed Diversified Equity Income Fund vs iShares Core S&P 500 ETF
Which is better, ETJ or IVV?
Multi Alternative against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 47.0%.
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 | ETJ | IVV |
|---|---|---|
| Expense Ratio | 1.11% | 0.03%Best |
| AUM | $544M | $886.7B |
| Dividend Yield | 8.49% | 1.10% |
| Holdings | 74 | 508 |
| YTD Return | +1.47% | +13.39%Best |
| 1Y Return | +1.51% | +20.08%Best |
| 3Y Return (annualized) | +10.99% | +21.29%Best |
| 5Y Return (annualized) | +4.15% | +12.88%Best |
| Volatility (annualized) | 12.5%Best | 15.6% |
| Max Drawdown | -67.2% | -56.5%Best |
| $10,000 over 5 years | $12,255 | $18,327Best |
| Top 10 Weight | 47.0% | 37.9%Best |
| Fund Family | Eaton Vance | iShares by BlackRock (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jul 31, 2007 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Jul 27, 2007 to Sep 4, 2026 (19.1 years).
ETJ 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.
ETJ vs IVV Performance
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is an ETF from Eaton Vance and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year ETJ returned +1.51% while IVV returned +20.08%. Year to date, ETJ is up 1.47% versus a gain of 13.39% for IVV.
Over three years, ETJ compounded at +10.99% per year against +21.29% for IVV; over five years the annualized figures are +4.15% and +12.88% respectively. Across the full 19-year window we track, IVV has the edge at +9.59% annualized vs -1.92%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 12.5% for ETJ. 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 -67.2% for ETJ 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 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETJ charges 1.11% per year while IVV charges 0.03%. On a $10,000 position that is $111 vs $3 annually, a gap of $108 per year that compounds over a long holding period. On income, ETJ currently yields 8.49% against 1.10% for IVV.
Holdings Overlap
83.5% of ETJ's money is in holdings IVV also owns. 42.4% of IVV's money is in holdings ETJ also owns.
Most of ETJ is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 127 days apart, ETJ as of Mar 31, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
37 positions in common, counted across the 51 positions we hold weights for in ETJ and 505 in IVV, against full books of 74 and 508.
What only one of them owns
Our book lists 460 positions for IVV that do not appear in our book for ETJ (56.9% of the fund), and 9 for ETJ that do not appear in IVV (10.7%).
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 ETJ | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.98% | 7.98% | 1.00% |
| AAPLApple, Inc | 6.27% | 6.86% | 0.59% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.60% | 5.44% | 0.16% |
| GOOGAlphabet Inc. C | 6.30% | 2.56% | 3.74% |
| AMZNAmazon.Com Inc | 4.58% | 4.01% | 0.57% |
| AVGOBroadcom Inc | 3.70% | 2.98% | 0.72% |
| METAMeta Platform Inc | 2.96% | 1.94% | 1.02% |
| JPMJpmorgan Chase | 3.03% | 1.45% | 1.58% |
| LLYEli Lilly & Co. | 2.43% | 1.39% | 1.04% |
| VVisa Inc Class A | 2.55% | 0.92% | 1.63% |
83.5% of ETJ 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, ETJ or IVV?
ETJ has an expense ratio of 1.11% while IVV charges 0.03%. IVV is the cheaper option, by $108 a year on a $10,000 investment.
Which performed better, ETJ or IVV?
Over the past year ETJ returned +1.51% vs +20.08% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (19 years), ETJ annualized -1.92% vs +9.59% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETJ or IVV?
IVV has been the more volatile fund at 15.6% annualized versus 12.5% for ETJ. Worst drawdown: ETJ -67.2% vs IVV -56.5%.
Should I hold both ETJ and IVV?
ETJ and IVV have a monthly-return correlation of 0.58, 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 ETJ and IVV?
83.5% of ETJ's money is in holdings IVV also owns. 42.4% of IVV's is in holdings ETJ also owns. They hold 37 positions in common, counted across the 51 positions we hold weights for in ETJ and 505 in IVV.
Which pays a higher dividend, ETJ or IVV?
ETJ yields 8.49% while IVV yields 1.10%, so ETJ currently pays the higher dividend yield.
Is IVV better than ETJ?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 47.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.