ETX vs IVV
Eaton Vance Municipal Income 2028 Term Trust 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 508 holdings.
Side-by-Side Comparison
| Metric | ETX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.86% | 0.03% | |
| AUM | $206M | $907.0B | |
| Dividend Yield | 5.18% | 1.10% | |
| Holdings | 126 | 508 | |
| YTD Return | -0.08% | +12.28% | |
| 1Y Return | +1.41% | +20.94% | |
| 3Y Return (annualized) | +7.16% | +21.81% | |
| 5Y Return (annualized) | +0.04% | +13.05% | |
| Volatility (annualized) | 11.0% | 15.1% | |
| Max Drawdown | -32.8% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Mar 26, 2013 | May 15, 2000 |
ETX vs IVV Performance
Eaton Vance Municipal Income 2028 Term Trust (ETX) 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 ETX returned +1.41% while IVV returned +20.94%. Year to date, ETX is down 0.08% versus a gain of 12.28% for IVV.
Over three years, ETX compounded at +7.16% per year against +21.81% for IVV; over five years the annualized figures are +0.04% and +13.05% respectively. Across the full 13-year window we track, IVV has the edge at +6.98% annualized vs +1.16%. 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 11.0% for ETX. 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 -32.8% for ETX 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 0.19. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETX charges 1.86% per year while IVV charges 0.03%. On a $10,000 position that is $186 vs $3 annually, a gap of $183 per year that compounds over a long holding period. On income, ETX currently yields 5.18% against 1.10% for IVV.
Holdings Overlap
ETX and IVV share 0 holdings out of 554 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, ETX or IVV?
ETX has an expense ratio of 1.86% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $183 per year of difference.
Which performed better, ETX or IVV?
Over the past year ETX returned +1.41% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (13 years), ETX annualized +1.16% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, ETX or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 11.0% for ETX. Worst drawdown: ETX -32.8% vs IVV -56.5%.
Should I hold both ETX and IVV?
ETX and IVV have a monthly-return correlation of 0.19, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETX and IVV?
ETX and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 554 unique securities.
Which pays a higher dividend, ETX or IVV?
ETX yields 5.18% while IVV yields 1.10%, so ETX currently pays the higher dividend yield.
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