IVV vs MFLX
iShares Core S&P 500 ETF vs First Trust Flexible Municipal High Income 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 | IVV | MFLX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.75% | |
| AUM | $865.2B | $21M | |
| Dividend Yield | 1.09% | 4.09% | |
| Holdings | 508 | 80 | |
| YTD Return | +13.72% | +2.52% | |
| 1Y Return | +21.64% | +7.34% | |
| 3Y Return (annualized) | +21.55% | +5.16% | |
| 5Y Return (annualized) | +13.27% | -0.91% | |
| Volatility (annualized) | 15.1% | 8.6% | |
| Max Drawdown | -56.5% | -26.9% | |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Sep 27, 2016 |
IVV vs MFLX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and First Trust Flexible Municipal High Income ETF (MFLX) is a ETF from First Trust Portfolios (US). Over the past year IVV returned +21.64% while MFLX returned +7.34%. Year to date, IVV is up 13.72% versus a gain of 2.52% for MFLX.
Over three years, IVV compounded at +21.55% per year against +5.16% for MFLX; over five years the annualized figures are +13.27% and -0.91% respectively. Across the full 10-year window we track, IVV has the edge at +7.04% annualized vs +0.42%. 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 8.6% for MFLX. 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 -26.9% for MFLX. 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MFLX charges 0.75%. On a $10,000 position that is $3 vs $75 annually, a gap of $72 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 4.09% for MFLX.
Holdings Overlap
IVV and MFLX share 0 holdings out of 555 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 MFLX?
IVV has an expense ratio of 0.03% while MFLX charges 0.75%. IVV is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, IVV or MFLX?
Over the past year IVV returned +21.64% vs +7.34% for MFLX, so IVV leads on 1-year performance. Over the longest common window we track (10 years), IVV annualized +7.04% vs +0.42% for MFLX. Past performance does not guarantee future results.
Which is riskier, IVV or MFLX?
IVV has been the more volatile fund at 15.1% annualized versus 8.6% for MFLX. Worst drawdown: IVV -56.5% vs MFLX -26.9%.
Should I hold both IVV and MFLX?
IVV and MFLX have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MFLX?
IVV and MFLX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, IVV or MFLX?
IVV yields 1.09% while MFLX yields 4.09%, so MFLX currently pays the higher dividend yield.
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