IVV vs MMSD
iShares Core S&P 500 ETF vs NYLI MacKay Muni Short Duration 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 | MMSD | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.25% | |
| AUM | $865.2B | $75M | |
| Dividend Yield | 1.09% | 3.85% | |
| Holdings | 508 | 124 | |
| YTD Return | +13.43% | +1.52% | |
| 1Y Return | +22.61% | +3.08% | |
| 3Y Return (annualized) | +21.47% | - | |
| 5Y Return (annualized) | +13.26% | - | |
| Volatility (annualized) | 15.1% | 1.8% | |
| Max Drawdown | -56.5% | -1.4% | |
| Fund Family | iShares by BlackRock (US) | New York Life Investments | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | May 6, 2025 |
IVV vs MMSD Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and NYLI MacKay Muni Short Duration ETF (MMSD) is a ETF from New York Life Investments. Over the past year IVV returned +22.61% while MMSD returned +3.08%. Year to date, IVV is up 13.43% versus a gain of 1.52% for MMSD.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.8% for MMSD. 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 -1.4% for MMSD. 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MMSD charges 0.25%. On a $10,000 position that is $3 vs $25 annually, a gap of $22 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 3.85% for MMSD.
Holdings Overlap
IVV and MMSD share 0 holdings out of 536 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 MMSD?
IVV has an expense ratio of 0.03% while MMSD charges 0.25%. IVV is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, IVV or MMSD?
Over the past year IVV returned +22.61% vs +3.08% for MMSD, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +7.03% vs +4.15% for MMSD. Past performance does not guarantee future results.
Which is riskier, IVV or MMSD?
IVV has been the more volatile fund at 15.1% annualized versus 1.8% for MMSD. Worst drawdown: IVV -56.5% vs MMSD -1.4%.
Should I hold both IVV and MMSD?
IVV and MMSD have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MMSD?
IVV and MMSD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 536 unique securities.
Which pays a higher dividend, IVV or MMSD?
IVV yields 1.09% while MMSD yields 3.85%, so MMSD currently pays the higher dividend yield.
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