ETO vs IVV
Eaton Vance Tax-Advantage Global Dividend Opportunity Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. ETO delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ETO | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.15% | 0.03% | |
| AUM | $388M | $865.2B | |
| Dividend Yield | 6.06% | 1.09% | |
| Holdings | 195 | 508 | |
| YTD Return | +12.73% | +13.80% | |
| 1Y Return | +26.24% | +23.01% | |
| 3Y Return (annualized) | +19.74% | +21.77% | |
| 5Y Return (annualized) | +8.34% | +13.39% | |
| Volatility (annualized) | 23.2% | 15.1% | |
| Max Drawdown | -75.2% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Apr 30, 2004 | May 15, 2000 |
ETO vs IVV Performance
Eaton Vance Tax-Advantage Global Dividend Opportunity Fund (ETO) 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 ETO returned +26.24% while IVV returned +23.01%. Year to date, ETO is up 12.73% versus a gain of 13.80% for IVV.
Over three years, ETO compounded at +19.74% per year against +21.77% for IVV; over five years the annualized figures are +8.34% and +13.39% respectively. Across the full 22-year window we track, IVV has the edge at +7.04% annualized vs +4.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETO has been the more volatile fund, with annualized monthly volatility of 23.2% compared with 15.1% for IVV. 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 -75.2% for ETO 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETO charges 1.15% per year while IVV charges 0.03%. On a $10,000 position that is $115 vs $3 annually, a gap of $112 per year that compounds over a long holding period. On income, ETO currently yields 6.06% against 1.09% for IVV.
Holdings Overlap
ETO and IVV share 55 holdings out of 606 unique holdings combined, representing a 23.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETO or IVV?
ETO has an expense ratio of 1.15% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $112 per year of difference.
Which performed better, ETO or IVV?
Over the past year ETO returned +26.24% vs +23.01% for IVV, so ETO leads on 1-year performance. Over the longest common window we track (22 years), ETO annualized +4.01% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, ETO or IVV?
ETO has been the more volatile fund at 23.2% annualized versus 15.1% for IVV. Worst drawdown: ETO -75.2% vs IVV -56.5%.
Should I hold both ETO and IVV?
ETO and IVV have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETO and IVV?
ETO and IVV share 55 common holdings with a 23.7% weight overlap. Combined, they hold 606 unique securities.
Which pays a higher dividend, ETO or IVV?
ETO yields 6.06% while IVV yields 1.09%, so ETO currently pays the higher dividend yield.
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