IVV vs JMM
iShares Core S&P 500 ETF vs Nuveen Multi-Market Income Fund
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 | IVV | JMM | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.58% | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 5.35% | |
| Holdings | 508 | 310 | |
| YTD Return | +14.50% | -0.08% | |
| 1Y Return | +22.02% | -2.80% | |
| 3Y Return (annualized) | +21.80% | +5.75% | |
| 5Y Return (annualized) | +13.37% | +0.64% | |
| Volatility (annualized) | 15.1% | 9.9% | |
| Max Drawdown | -56.5% | -53.8% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Dec 30, 1988 |
IVV vs JMM Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Multi-Market Income Fund (JMM) is a ETF from Nuveen. Over the past year IVV returned +22.02% while JMM returned -2.80%. Year to date, IVV is up 14.50% versus a loss of 0.08% for JMM.
Over three years, IVV compounded at +21.80% per year against +5.75% for JMM; over five years the annualized figures are +13.37% and +0.64% respectively. Across the full 26-year window we track, IVV has the edge at +7.07% annualized vs -0.38%. 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 9.9% for JMM. 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 -56.5% for IVV and -53.8% for JMM. 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while JMM charges 1.58%. On a $10,000 position that is $3 vs $158 annually, a gap of $155 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 5.35% for JMM.
Holdings Overlap
IVV and JMM share 0 holdings out of 520 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, IVV or JMM?
IVV has an expense ratio of 0.03% while JMM charges 1.58%. IVV is the cheaper option. On a $10,000 investment, that is $155 per year of difference.
Which performed better, IVV or JMM?
Over the past year IVV returned +22.02% vs -2.80% for JMM, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.07% vs -0.38% for JMM. Past performance does not guarantee future results.
Which is riskier, IVV or JMM?
IVV has been the more volatile fund at 15.1% annualized versus 9.9% for JMM. Worst drawdown: IVV -56.5% vs JMM -53.8%.
Should I hold both IVV and JMM?
IVV and JMM have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and JMM?
IVV and JMM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, IVV or JMM?
IVV yields 1.09% while JMM yields 5.35%, so JMM currently pays the higher dividend yield.
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