IVV vs NCLO
iShares Core S&P 500 ETF vs Nuveen AA-BBB CLO ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | NCLO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.26% | |
| AUM | $907.0B | $154M | |
| Dividend Yield | 1.10% | 5.78% | |
| Holdings | 508 | 103 | |
| YTD Return | +12.28% | +3.30% | |
| 1Y Return | +20.94% | +5.57% | |
| 3Y Return (annualized) | +21.81% | - | |
| 5Y Return (annualized) | +13.05% | - | |
| Volatility (annualized) | 15.1% | 1.1% | |
| Max Drawdown | -56.5% | -3.1% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Dec 10, 2024 |
IVV vs NCLO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen AA-BBB CLO ETF (NCLO) is a ETF from Nuveen. Over the past year IVV returned +20.94% while NCLO returned +5.57%. Year to date, IVV is up 12.28% versus a gain of 3.30% for NCLO.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.1% for NCLO. 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 -3.1% for NCLO. 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while NCLO charges 0.26%. On a $10,000 position that is $3 vs $26 annually, a gap of $23 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 5.78% for NCLO.
Holdings Overlap
IVV and NCLO share 0 holdings out of 507 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 NCLO?
IVV has an expense ratio of 0.03% while NCLO charges 0.26%. IVV is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, IVV or NCLO?
Over the past year IVV returned +20.94% vs +5.57% for NCLO, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +6.98% vs +5.48% for NCLO. Past performance does not guarantee future results.
Which is riskier, IVV or NCLO?
IVV has been the more volatile fund at 15.1% annualized versus 1.1% for NCLO. Worst drawdown: IVV -56.5% vs NCLO -3.1%.
Should I hold both IVV and NCLO?
IVV and NCLO have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NCLO?
IVV and NCLO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, IVV or NCLO?
IVV yields 1.10% while NCLO yields 5.78%, so NCLO currently pays the higher dividend yield.
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