IVV vs MHF
iShares Core S&P 500 ETF vs Western Asset Municipal High Income Fund Inc.
Which is better, IVV or MHF?
Large Cap Blend against Municipal Bond.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
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 | IVV | MHF |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.71% |
| AUM | $876.4B | $152M |
| Dividend Yield | 1.06% | 6.06% |
| Holdings | 508 | 248 |
| YTD Return | +12.39%Best | -2.94% |
| 1Y Return | +16.61%Best | -9.98% |
| 3Y Return (annualized) | +21.38%Best | +6.67% |
| 5Y Return (annualized) | +13.51%Best | -0.61% |
| Volatility (annualized) | 15.1% | 10.6%Best |
| Max Drawdown | -56.5% | -35.9%Best |
| $10,000 over 5 years | $18,844Best | $9,699 |
| Fund Family | iShares by BlackRock (US) | Franklin Templeton Investments (US) |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal Bond |
| Inception | May 15, 2000 | Nov 28, 1988 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 19, 2000 to Sep 18, 2026 (26.3 years).
IVV vs MHF 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs MHF Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Western Asset Municipal High Income Fund Inc. (MHF) is an ETF from Franklin Templeton Investments (US). Over the past year IVV returned +16.61% while MHF returned -9.98%. Year to date, IVV is up 12.39% versus a loss of 2.94% for MHF.
Over three years, IVV compounded at +21.38% per year against +6.67% for MHF; over five years the annualized figures are +13.51% and -0.61% respectively. Across the full 26-year window we track, IVV has the edge at +6.96% annualized vs +0.34%.
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 10.6% for MHF. 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 -35.9% for MHF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.25. They move largely independently of each other.
Fees and Cost Over Time
IVV charges 0.03% per year while MHF charges 0.71%. On a $10,000 position that is $3 vs $71 annually, a gap of $68 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 6.06% for MHF.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 126 in MHF, totalling 99.3% and 48.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 213 days apart, IVV as of Aug 31, 2026 and MHF as of Jan 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 126 in MHF, against full books of 508 and 248.
You are not choosing between two funds in isolation.
Whichever of IVV and MHF you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or MHF?
IVV has an expense ratio of 0.03% while MHF charges 0.71%. IVV is the cheaper option, by $68 a year on a $10,000 investment.
Which performed better, IVV or MHF?
Over the past year IVV returned +16.61% vs -9.98% for MHF, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +6.96% vs +0.34% for MHF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or MHF?
IVV has been the more volatile fund at 15.1% annualized versus 10.6% for MHF. Worst drawdown: IVV -56.5% vs MHF -35.9%.
Should I hold both IVV and MHF?
IVV and MHF have a monthly-return correlation of 0.25, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or MHF?
IVV yields 1.06% while MHF yields 6.06%, so MHF currently pays the higher dividend yield.
Is MHF better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.