ETW vs IVV
ETW vs IVV
Eaton Vance Tax-Managed Global Buy-Write Opportunities 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 | ETW | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.03% | |
| AUM | $936M | $865.2B | |
| Dividend Yield | 7.41% | 1.09% | |
| Holdings | 291 | 508 | |
| YTD Return | +10.92% | +13.80% | |
| 1Y Return | +20.02% | +23.70% | |
| 3Y Return (annualized) | +15.89% | +21.49% | |
| 5Y Return (annualized) | +6.21% | +13.43% | |
| Volatility (annualized) | 16.9% | 15.1% | |
| Max Drawdown | -72.8% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | May 15, 2000 |
ETW vs IVV Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) 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 ETW returned +20.02% while IVV returned +23.70%. Year to date, ETW is up 10.92% versus a gain of 13.80% for IVV.
Over three years, ETW compounded at +15.89% per year against +21.49% for IVV; over five years the annualized figures are +6.21% and +13.43% respectively. Across the full 21-year window we track, IVV has the edge at +7.05% annualized vs -1.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -72.8% for ETW 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETW charges 1.10% per year while IVV charges 0.03%. On a $10,000 position that is $110 vs $3 annually, a gap of $107 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 1.09% for IVV.
Holdings Overlap
ETW and IVV share 110 holdings out of 654 unique holdings combined, representing a 40.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ETW | Weight in IVV | Difference |
|---|---|---|---|
| NVDA | 4.84% | 7.76% | 2.92% |
| AAPL | 4.43% | 7.44% | 3.01% |
| MSFT | 3.30% | 4.57% | 1.27% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings ETW shares with IVV Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, ETW or IVV?
ETW has an expense ratio of 1.10% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $107 per year of difference.
Which performed better, ETW or IVV?
Over the past year ETW returned +20.02% vs +23.70% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (21 years), ETW annualized -1.13% vs +7.05% for IVV. Past performance does not guarantee future results.
Which is riskier, ETW or IVV?
ETW has been the more volatile fund at 16.9% annualized versus 15.1% for IVV. Worst drawdown: ETW -72.8% vs IVV -56.5%.
Should I hold both ETW and IVV?
ETW and IVV have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and IVV?
ETW and IVV share 110 common holdings with a 40.6% weight overlap. Combined, they hold 654 unique securities.
Which pays a higher dividend, ETW or IVV?
ETW yields 7.41% while IVV yields 1.09%, so ETW currently pays the higher dividend yield.
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