IVV vs MMKT
iShares Core S&P 500 ETF vs Texas Capital Government Money Market 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 | IVV | MMKT | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.20% | |
| AUM | $907.0B | $73M | |
| Dividend Yield | 1.10% | 3.73% | |
| Holdings | 508 | 29 | |
| YTD Return | +12.28% | +2.19% | |
| 1Y Return | +20.94% | +3.70% | |
| 3Y Return (annualized) | +21.81% | - | |
| 5Y Return (annualized) | +13.05% | - | |
| Volatility (annualized) | 15.1% | 0.2% | |
| Max Drawdown | -56.5% | -0.0% | |
| Fund Family | iShares by BlackRock (US) | Texas Capital | |
| Category | Equity | Money Market | |
| Inception | May 15, 2000 | Sep 13, 2024 |
IVV vs MMKT Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Texas Capital Government Money Market ETF (MMKT) is a ETF from Texas Capital. Over the past year IVV returned +20.94% while MMKT returned +3.70%. Year to date, IVV is up 12.28% versus a gain of 2.19% for MMKT.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 0.2% for MMKT. 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 -0.0% for MMKT. 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 -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MMKT charges 0.20%. On a $10,000 position that is $3 vs $20 annually, a gap of $17 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 3.73% for MMKT.
Holdings Overlap
IVV and MMKT share 0 holdings out of 509 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 MMKT?
IVV has an expense ratio of 0.03% while MMKT charges 0.20%. IVV is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, IVV or MMKT?
Over the past year IVV returned +20.94% vs +3.70% for MMKT, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +6.98% vs +3.99% for MMKT. Past performance does not guarantee future results.
Which is riskier, IVV or MMKT?
IVV has been the more volatile fund at 15.1% annualized versus 0.2% for MMKT. Worst drawdown: IVV -56.5% vs MMKT -0.0%.
Should I hold both IVV and MMKT?
IVV and MMKT have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MMKT?
IVV and MMKT share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, IVV or MMKT?
IVV yields 1.10% while MMKT yields 3.73%, so MMKT currently pays the higher dividend yield.
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