IVV vs NDMO
iShares Core S&P 500 ETF vs Nuveen Dynamic Municipal Opportunities 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 | NDMO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 2.92% | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 7.09% | |
| Holdings | 508 | 543 | |
| YTD Return | +13.80% | +3.39% | |
| 1Y Return | +23.70% | +9.81% | |
| 3Y Return (annualized) | +21.49% | +5.06% | |
| 5Y Return (annualized) | +13.43% | -3.82% | |
| Volatility (annualized) | 15.1% | 18.2% | |
| Max Drawdown | -56.5% | -42.5% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Aug 26, 2020 |
IVV vs NDMO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Dynamic Municipal Opportunities Fund (NDMO) is a ETF from Nuveen. Over the past year IVV returned +23.70% while NDMO returned +9.81%. Year to date, IVV is up 13.80% versus a gain of 3.39% for NDMO.
Over three years, IVV compounded at +21.49% per year against +5.06% for NDMO; over five years the annualized figures are +13.43% and -3.82% respectively. Across the full 6-year window we track, IVV has the edge at +7.05% annualized vs -0.47%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NDMO has been the more volatile fund, with annualized monthly volatility of 18.2% compared with 15.1% for IVV. 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 -42.5% for NDMO. 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while NDMO charges 2.92%. On a $10,000 position that is $3 vs $292 annually, a gap of $289 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 7.09% for NDMO.
Holdings Overlap
IVV and NDMO share 0 holdings out of 703 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 NDMO?
IVV has an expense ratio of 0.03% while NDMO charges 2.92%. IVV is the cheaper option. On a $10,000 investment, that is $289 per year of difference.
Which performed better, IVV or NDMO?
Over the past year IVV returned +23.70% vs +9.81% for NDMO, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +7.05% vs -0.47% for NDMO. Past performance does not guarantee future results.
Which is riskier, IVV or NDMO?
NDMO has been the more volatile fund at 18.2% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs NDMO -42.5%.
Should I hold both IVV and NDMO?
IVV and NDMO have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NDMO?
IVV and NDMO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 703 unique securities.
Which pays a higher dividend, IVV or NDMO?
IVV yields 1.09% while NDMO yields 7.09%, so NDMO currently pays the higher dividend yield.
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