ETY vs IVV
Eaton Vance Tax-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 508 holdings.
Side-by-Side Comparison
| Metric | ETY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.06% | 0.03% | |
| AUM | $1.8B | $907.0B | |
| Dividend Yield | 7.64% | 1.10% | |
| Holdings | 61 | 508 | |
| YTD Return | -0.95% | +12.28% | |
| 1Y Return | -0.22% | +20.94% | |
| 3Y Return (annualized) | +15.04% | +21.81% | |
| 5Y Return (annualized) | +8.49% | +13.05% | |
| Volatility (annualized) | 17.2% | 15.1% | |
| Max Drawdown | -64.6% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Nov 27, 2006 | May 15, 2000 |
ETY vs IVV Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) 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 ETY returned -0.22% while IVV returned +20.94%. Year to date, ETY is down 0.95% versus a gain of 12.28% for IVV.
Over three years, ETY compounded at +15.04% per year against +21.81% for IVV; over five years the annualized figures are +8.49% and +13.05% respectively. Across the full 20-year window we track, IVV has the edge at +6.98% annualized vs +0.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 17.2% 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 -64.6% for ETY 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETY charges 1.06% per year while IVV charges 0.03%. On a $10,000 position that is $106 vs $3 annually, a gap of $103 per year that compounds over a long holding period. On income, ETY currently yields 7.64% against 1.10% for IVV.
Holdings Overlap
ETY and IVV share 36 holdings out of 518 unique holdings combined, representing a 40.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETY or IVV?
ETY has an expense ratio of 1.06% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $103 per year of difference.
Which performed better, ETY or IVV?
Over the past year ETY returned -0.22% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), ETY annualized +0.59% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, ETY or IVV?
ETY has been the more volatile fund at 17.2% annualized versus 15.1% for IVV. Worst drawdown: ETY -64.6% vs IVV -56.5%.
Should I hold both ETY and IVV?
ETY and IVV have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETY and IVV?
ETY and IVV share 36 common holdings with a 40.2% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, ETY or IVV?
ETY yields 7.64% while IVV yields 1.10%, so ETY currently pays the higher dividend yield.
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