FNCMX vs IVV
Fidelity NASDAQ Composite Index vs iShares Core S&P 500 ETF
Which is better, FNCMX or IVV?
Large Cap Growth against Large Cap Blend.
IVV has a lower expense ratio. FNCMX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 56.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FNCMX | IVV |
|---|---|---|
| Expense Ratio | 0.29% | 0.03%Best |
| AUM | - | $876.4B |
| Dividend Yield | 0.45% | 1.06% |
| Holdings | 2,946 | 508 |
| YTD Price Return | +14.59%Best | +13.21% |
| 1Y Price Return | +18.06%Best | +15.94% |
| 3Y Price Return (annualized) | +24.83%Best | +21.41% |
| 5Y Price Return (annualized) | +12.50%Best | +12.20% |
| Volatility (annualized) | 19.9% | 15.8%Best |
| Max Drawdown | -36.8% | -25.4%Best |
| $10,000 over 5 years | $18,020Best | $17,781 |
| Top 10 Weight | 56.4% | 37.8%Best |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 25, 2003 | May 15, 2000 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FNCMX. Both funds are measured the same way, so the comparison holds. FNCMX yields 0.45% and IVV 1.06% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2021 to Sep 18, 2026 (5 years).
FNCMX vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
FNCMX vs IVV Performance
Fidelity NASDAQ Composite Index (FNCMX) is a mutual fund from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FNCMX returned +18.06% while IVV returned +15.94%. Year to date, FNCMX is up 14.59% versus a gain of 13.21% for IVV.
Over three years, FNCMX compounded at +24.83% per year against +21.41% for IVV; over five years the annualized figures are +12.50% and +12.20% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNCMX has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 15.8% 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 -36.8% for FNCMX and -25.4% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNCMX charges 0.29% per year while IVV charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, FNCMX currently yields 0.45% against 1.06% for IVV.
Structure and taxes
FNCMX is a mutual fund and IVV is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
81.7% of FNCMX's money is in holdings IVV also owns. 53.6% of IVV's money is in holdings FNCMX also owns.
Most of FNCMX is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 184 days apart, FNCMX as of Feb 28, 2026 and IVV as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
156 positions in common, counted across the 2,830 positions we hold weights for in FNCMX and 490 in IVV, against full books of 2,946 and 508.
What only one of them owns
Our book lists 327 positions for IVV that do not appear in our book for FNCMX (45.0% of the fund), and 508 for FNCMX that do not appear in IVV (12.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FNCMX | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp | 11.20% | 8.07% | 3.13% |
| AAPLApple, Inc | 10.15% | 7.02% | 3.13% |
| MSFTMicrosoft Corp | 7.59% | 5.69% | 1.90% |
| AMZNAmazon.Com Inc | 5.84% | 3.84% | 2.00% |
| GOOGAlphabet Inc | 4.72% | 2.39% | 2.33% |
| AVGOBroadcom Inc | 3.92% | 2.65% | 1.27% |
| METAMeta Platforms Inc | 3.67% | 1.90% | 1.77% |
| TSLATesla Inc | 3.93% | 1.56% | 2.37% |
| WMTWalmart, Inc. | 2.65% | 0.69% | 1.96% |
| MUMicron Technology, Inc. | 1.20% | 1.63% | 0.43% |
81.7% of FNCMX is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FNCMX or IVV?
FNCMX has an expense ratio of 0.29% while IVV charges 0.03%. IVV is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, FNCMX or IVV?
Over the past year FNCMX returned +18.06% vs +15.94% for IVV, so FNCMX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNCMX or IVV?
FNCMX has been the more volatile fund at 19.9% annualized versus 15.8% for IVV. Worst drawdown: FNCMX -36.8% vs IVV -25.4%.
Should I hold both FNCMX and IVV?
FNCMX and IVV have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FNCMX and IVV?
81.7% of FNCMX's money is in holdings IVV also owns. 53.6% of IVV's is in holdings FNCMX also owns. They hold 156 positions in common, counted across the 2,830 positions we hold weights for in FNCMX and 490 in IVV.
Which pays a higher dividend, FNCMX or IVV?
FNCMX yields 0.45% while IVV yields 1.06%, so IVV currently pays the higher dividend yield.
Is it better to hold FNCMX or IVV in a taxable account?
IVV is an ETF and FNCMX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is IVV better than FNCMX?
IVV has a lower expense ratio. FNCMX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. IVV is less concentrated, with 37.8% of the fund in its ten largest positions against 56.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.