FMHI vs IVV
First Trust Municipal High Income ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. FMHI offers more diversification with 736 holdings.
Side-by-Side Comparison
| Metric | FMHI | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.03% | |
| AUM | $1.0B | $907.0B | |
| Dividend Yield | 4.35% | 1.10% | |
| Holdings | 736 | 508 | |
| YTD Return | +1.31% | +12.71% | |
| 1Y Return | +6.78% | +21.89% | |
| 3Y Return (annualized) | +4.87% | +22.08% | |
| 5Y Return (annualized) | +0.23% | +12.96% | |
| Volatility (annualized) | 7.2% | 15.1% | |
| Max Drawdown | -18.8% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Nov 2, 2017 | May 15, 2000 |
FMHI vs IVV Performance
First Trust Municipal High Income ETF (FMHI) is a ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FMHI returned +6.78% while IVV returned +21.89%. Year to date, FMHI is up 1.31% versus a gain of 12.71% for IVV.
Over three years, FMHI compounded at +4.87% per year against +22.08% for IVV; over five years the annualized figures are +0.23% and +12.96% respectively. Across the full 9-year window we track, IVV has the edge at +7.00% annualized vs +1.71%. 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 7.2% for FMHI. 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 -18.8% for FMHI 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMHI charges 0.49% per year while IVV charges 0.03%. On a $10,000 position that is $49 vs $3 annually, a gap of $46 per year that compounds over a long holding period. On income, FMHI currently yields 4.35% against 1.10% for IVV.
Holdings Overlap
FMHI and IVV share 0 holdings out of 993 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, FMHI or IVV?
FMHI has an expense ratio of 0.49% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, FMHI or IVV?
Over the past year FMHI returned +6.78% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (9 years), FMHI annualized +1.71% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, FMHI or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 7.2% for FMHI. Worst drawdown: FMHI -18.8% vs IVV -56.5%.
Should I hold both FMHI and IVV?
FMHI and IVV have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMHI and IVV?
FMHI and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 993 unique securities.
Which pays a higher dividend, FMHI or IVV?
FMHI yields 4.35% while IVV yields 1.10%, so FMHI currently pays the higher dividend yield.
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