IVV vs NAD
iShares Core S&P 500 ETF vs Nuveen Quality Municipal Income 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 | NAD | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 3.74% | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 7.09% | |
| Holdings | 508 | 1,159 | |
| YTD Return | +13.72% | +1.78% | |
| 1Y Return | +21.64% | +11.30% | |
| 3Y Return (annualized) | +21.55% | +9.34% | |
| 5Y Return (annualized) | +13.27% | -0.48% | |
| Volatility (annualized) | 15.1% | 12.2% | |
| Max Drawdown | -56.5% | -51.9% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | May 26, 1999 |
IVV vs NAD Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Quality Municipal Income Fund (NAD) is a ETF from Nuveen. Over the past year IVV returned +21.64% while NAD returned +11.30%. Year to date, IVV is up 13.72% versus a gain of 1.78% for NAD.
Over three years, IVV compounded at +21.55% per year against +9.34% for NAD; over five years the annualized figures are +13.27% and -0.48% respectively. Across the full 26-year window we track, IVV has the edge at +7.04% annualized vs +0.28%. 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 12.2% for NAD. 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 -51.9% for NAD. 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 0.21. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while NAD charges 3.74%. On a $10,000 position that is $3 vs $374 annually, a gap of $371 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 7.09% for NAD.
Holdings Overlap
IVV and NAD share 0 holdings out of 936 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 NAD?
IVV has an expense ratio of 0.03% while NAD charges 3.74%. IVV is the cheaper option. On a $10,000 investment, that is $371 per year of difference.
Which performed better, IVV or NAD?
Over the past year IVV returned +21.64% vs +11.30% for NAD, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.04% vs +0.28% for NAD. Past performance does not guarantee future results.
Which is riskier, IVV or NAD?
IVV has been the more volatile fund at 15.1% annualized versus 12.2% for NAD. Worst drawdown: IVV -56.5% vs NAD -51.9%.
Should I hold both IVV and NAD?
IVV and NAD have a monthly-return correlation of 0.21, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NAD?
IVV and NAD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 936 unique securities.
Which pays a higher dividend, IVV or NAD?
IVV yields 1.09% while NAD yields 7.09%, so NAD currently pays the higher dividend yield.
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