ETJ vs IVV
Eaton Vance Risk-Managed Diversified Equity Income Fund 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 | ETJ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.11% | 0.03% | |
| AUM | $544M | $865.2B | |
| Dividend Yield | 8.51% | 1.09% | |
| Holdings | 74 | 508 | |
| YTD Return | +2.01% | +14.50% | |
| 1Y Return | +3.36% | +22.02% | |
| 3Y Return (annualized) | +10.77% | +21.80% | |
| 5Y Return (annualized) | +3.50% | +13.37% | |
| Volatility (annualized) | 12.5% | 15.1% | |
| Max Drawdown | -67.2% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Jul 31, 2007 | May 15, 2000 |
ETJ vs IVV Performance
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) 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 ETJ returned +3.36% while IVV returned +22.02%. Year to date, ETJ is up 2.01% versus a gain of 14.50% for IVV.
Over three years, ETJ compounded at +10.77% per year against +21.80% for IVV; over five years the annualized figures are +3.50% and +13.37% respectively. Across the full 19-year window we track, IVV has the edge at +7.07% annualized vs -1.90%. 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 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 worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
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 8.51% against 1.09% for IVV.
Holdings Overlap
ETJ and IVV share 37 holdings out of 519 unique holdings combined, representing a 40.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $108 per year of difference.
Which performed better, ETJ or IVV?
Over the past year ETJ returned +3.36% vs +22.02% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (19 years), ETJ annualized -1.90% vs +7.07% for IVV. Past performance does not guarantee future results.
Which is riskier, ETJ or IVV?
IVV has been the more volatile fund at 15.1% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETJ and IVV?
ETJ and IVV share 37 common holdings with a 40.3% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, ETJ or IVV?
ETJ yields 8.51% while IVV yields 1.09%, so ETJ currently pays the higher dividend yield.
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