EVN vs IVV
Eaton Vance Municipal Income 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 505 holdings.
Side-by-Side Comparison
| Metric | EVN | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 2.46% | 0.03% | |
| AUM | $443M | $865.2B | |
| Dividend Yield | 5.64% | 1.09% | |
| Holdings | 237 | 508 | |
| YTD Return | +4.22% | +13.43% | |
| 1Y Return | +7.29% | +22.61% | |
| 3Y Return (annualized) | +9.14% | +21.47% | |
| 5Y Return (annualized) | -0.48% | +13.26% | |
| Volatility (annualized) | 15.7% | 15.1% | |
| Max Drawdown | -62.5% | -56.5% | |
| Fund Family | Eaton Vance | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jan 29, 1999 | May 15, 2000 |
EVN vs IVV Performance
Eaton Vance Municipal Income Trust (EVN) 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 EVN returned +7.29% while IVV returned +22.61%. Year to date, EVN is up 4.22% versus a gain of 13.43% for IVV.
Over three years, EVN compounded at +9.14% per year against +21.47% for IVV; over five years the annualized figures are -0.48% and +13.26% respectively. Across the full 26-year window we track, IVV has the edge at +7.03% annualized vs -0.18%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EVN has been the more volatile fund, with annualized monthly volatility of 15.7% 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 -62.5% for EVN 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVN charges 2.46% per year while IVV charges 0.03%. On a $10,000 position that is $246 vs $3 annually, a gap of $243 per year that compounds over a long holding period. On income, EVN currently yields 5.64% against 1.09% for IVV.
Holdings Overlap
EVN and IVV share 0 holdings out of 604 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, EVN or IVV?
EVN has an expense ratio of 2.46% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $243 per year of difference.
Which performed better, EVN or IVV?
Over the past year EVN returned +7.29% vs +22.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), EVN annualized -0.18% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, EVN or IVV?
EVN has been the more volatile fund at 15.7% annualized versus 15.1% for IVV. Worst drawdown: EVN -62.5% vs IVV -56.5%.
Should I hold both EVN and IVV?
EVN and IVV have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVN and IVV?
EVN and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, EVN or IVV?
EVN yields 5.64% while IVV yields 1.09%, so EVN currently pays the higher dividend yield.
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