IVV vs MUNI
iShares Core S&P 500 ETF vs PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
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 | MUNI | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.35% | |
| AUM | $865.2B | $3.1B | |
| Dividend Yield | 1.09% | 3.28% | |
| Holdings | 508 | 580 | |
| YTD Return | +13.80% | +0.51% | |
| 1Y Return | +23.01% | +4.20% | |
| 3Y Return (annualized) | +21.77% | +3.65% | |
| 5Y Return (annualized) | +13.39% | +1.03% | |
| Volatility (annualized) | 15.1% | 3.9% | |
| Max Drawdown | -56.5% | -11.2% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Nov 30, 2009 |
IVV vs MUNI Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (MUNI) is a ETF from PIMCO (US). Over the past year IVV returned +23.01% while MUNI returned +4.20%. Year to date, IVV is up 13.80% versus a gain of 0.51% for MUNI.
Over three years, IVV compounded at +21.77% per year against +3.65% for MUNI; over five years the annualized figures are +13.39% and +1.03% respectively. Across the full 17-year window we track, IVV has the edge at +7.04% annualized vs +1.12%. 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 3.9% for MUNI. 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 -11.2% for MUNI. 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MUNI charges 0.35%. On a $10,000 position that is $3 vs $35 annually, a gap of $32 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 3.28% for MUNI.
Holdings Overlap
IVV and MUNI share 0 holdings out of 884 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 MUNI?
IVV has an expense ratio of 0.03% while MUNI charges 0.35%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, IVV or MUNI?
Over the past year IVV returned +23.01% vs +4.20% for MUNI, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.04% vs +1.12% for MUNI. Past performance does not guarantee future results.
Which is riskier, IVV or MUNI?
IVV has been the more volatile fund at 15.1% annualized versus 3.9% for MUNI. Worst drawdown: IVV -56.5% vs MUNI -11.2%.
Should I hold both IVV and MUNI?
IVV and MUNI have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MUNI?
IVV and MUNI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 884 unique securities.
Which pays a higher dividend, IVV or MUNI?
IVV yields 1.09% while MUNI yields 3.28%, so MUNI currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.