IVV vs NCA
iShares Core S&P 500 ETF vs Nuveen California Municipal Value Fund Inc.
Quick Verdict
IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | NCA | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | - | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 3.79% | |
| Holdings | 508 | 136 | |
| YTD Return | +13.80% | +3.72% | |
| 1Y Return | +23.01% | +10.21% | |
| 3Y Return (annualized) | +21.77% | +6.51% | |
| 5Y Return (annualized) | +13.39% | +0.33% | |
| Volatility (annualized) | 15.1% | 10.0% | |
| Max Drawdown | -56.5% | -32.5% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Oct 7, 1987 |
IVV vs NCA Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen California Municipal Value Fund Inc. (NCA) is a ETF from Nuveen. Over the past year IVV returned +23.01% while NCA returned +10.21%. Year to date, IVV is up 13.80% versus a gain of 3.72% for NCA.
Over three years, IVV compounded at +21.77% per year against +6.51% for NCA; over five years the annualized figures are +13.39% and +0.33% respectively. Across the full 26-year window we track, IVV has the edge at +7.04% annualized vs +0.25%. 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 10.0% for NCA. 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 -32.5% for NCA. 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 0.22. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
IVV and NCA share 0 holdings out of 578 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, IVV or NCA?
Over the past year IVV returned +23.01% vs +10.21% for NCA, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.04% vs +0.25% for NCA. Past performance does not guarantee future results.
Which is riskier, IVV or NCA?
IVV has been the more volatile fund at 15.1% annualized versus 10.0% for NCA. Worst drawdown: IVV -56.5% vs NCA -32.5%.
Should I hold both IVV and NCA?
IVV and NCA have a monthly-return correlation of 0.22, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NCA?
IVV and NCA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 578 unique securities.
Which pays a higher dividend, IVV or NCA?
IVV yields 1.09% while NCA yields 3.79%, so NCA currently pays the higher dividend yield.
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