IVV vs MUNA
iShares Core S&P 500 ETF vs Northern Trust 2030 Tax-Exempt Distributing Ladder 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 | MUNA | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.18% | |
| AUM | $865.2B | $9M | |
| Dividend Yield | 1.09% | 1.66% | |
| Holdings | 508 | 143 | |
| YTD Return | +13.80% | +0.92% | |
| 1Y Return | +23.70% | +1.53% | |
| 3Y Return (annualized) | +21.49% | - | |
| 5Y Return (annualized) | +13.43% | - | |
| Volatility (annualized) | 15.1% | 1.2% | |
| Max Drawdown | -56.5% | -1.4% | |
| Fund Family | iShares by BlackRock (US) | Northern Trust Asset Management | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Feb 28, 2025 |
IVV vs MUNA Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Northern Trust 2030 Tax-Exempt Distributing Ladder ETF (MUNA) is a ETF from Northern Trust Asset Management. Over the past year IVV returned +23.70% while MUNA returned +1.53%. Year to date, IVV is up 13.80% versus a gain of 0.92% for MUNA.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.2% for MUNA. 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 MUNA. 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MUNA charges 0.18%. On a $10,000 position that is $3 vs $18 annually, a gap of $15 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.66% for MUNA.
Holdings Overlap
IVV and MUNA share 0 holdings out of 514 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 MUNA?
IVV has an expense ratio of 0.03% while MUNA charges 0.18%. IVV is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, IVV or MUNA?
Over the past year IVV returned +23.70% vs +1.53% for MUNA, so IVV leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, IVV or MUNA?
IVV has been the more volatile fund at 15.1% annualized versus 1.2% for MUNA. Worst drawdown: IVV -56.5% vs MUNA -1.4%.
Should I hold both IVV and MUNA?
IVV and MUNA have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MUNA?
IVV and MUNA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, IVV or MUNA?
IVV yields 1.09% while MUNA yields 1.66%, so MUNA currently pays the higher dividend yield.
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