IQI vs IVV
Invesco Quality 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 508 holdings.
Side-by-Side Comparison
| Metric | IQI | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.71% | 0.03% | |
| AUM | $3,048.42 | $907.0B | |
| Dividend Yield | 7.66% | 1.10% | |
| Holdings | 485 | 508 | |
| YTD Return | +5.33% | +12.71% | |
| 1Y Return | +15.70% | +21.89% | |
| 3Y Return (annualized) | +10.51% | +22.08% | |
| 5Y Return (annualized) | -0.20% | +12.96% | |
| Volatility (annualized) | 11.6% | 15.1% | |
| Max Drawdown | -57.6% | -56.5% | |
| Fund Family | Invesco (US) | iShares by BlackRock (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 29, 1992 | May 15, 2000 |
IQI vs IVV Performance
Invesco Quality Municipal Income Trust (IQI) is a ETF from Invesco (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year IQI returned +15.70% while IVV returned +21.89%. Year to date, IQI is up 5.33% versus a gain of 12.71% for IVV.
Over three years, IQI compounded at +10.51% per year against +22.08% for IVV; over five years the annualized figures are -0.20% and +12.96% respectively. Across the full 26-year window we track, IVV has the edge at +7.00% annualized vs -0.02%. 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 11.6% for IQI. 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 -57.6% for IQI 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 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IQI charges 1.71% per year while IVV charges 0.03%. On a $10,000 position that is $171 vs $3 annually, a gap of $168 per year that compounds over a long holding period. On income, IQI currently yields 7.66% against 1.10% for IVV.
Holdings Overlap
IQI and IVV share 0 holdings out of 750 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, IQI or IVV?
IQI has an expense ratio of 1.71% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $168 per year of difference.
Which performed better, IQI or IVV?
Over the past year IQI returned +15.70% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IQI annualized -0.02% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, IQI or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 11.6% for IQI. Worst drawdown: IQI -57.6% vs IVV -56.5%.
Should I hold both IQI and IVV?
IQI and IVV have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IQI and IVV?
IQI and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 750 unique securities.
Which pays a higher dividend, IQI or IVV?
IQI yields 7.66% while IVV yields 1.10%, so IQI currently pays the higher dividend yield.
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