IVV vs NMAI
iShares Core S&P 500 ETF vs Nuveen Multi-Asset Income Fund
Quick Verdict
IVV has a lower expense ratio. NMAI delivered stronger 1-year returns. NMAI offers more diversification with 1,312 holdings.
Side-by-Side Comparison
| Metric | IVV | NMAI | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 1.87% | |
| AUM | $907.0B | - | |
| Dividend Yield | 1.10% | 9.58% | |
| Holdings | 508 | 1,312 | |
| YTD Return | +12.71% | +17.43% | |
| 1Y Return | +21.89% | +26.47% | |
| 3Y Return (annualized) | +22.08% | +20.43% | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | 18.8% | |
| Max Drawdown | -56.5% | -35.6% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Allocation/Balanced | |
| Inception | May 15, 2000 | Nov 22, 2021 |
IVV vs NMAI Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Multi-Asset Income Fund (NMAI) is a ETF from Nuveen. Over the past year IVV returned +21.89% while NMAI returned +26.47%. Year to date, IVV is up 12.71% versus a gain of 17.43% for NMAI.
Over three years, IVV compounded at +22.08% per year against +20.43% for NMAI. Across the full 5-year window we track, IVV has the edge at +7.00% annualized vs +6.57%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.8% 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 -35.6% for NMAI. 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while NMAI charges 1.87%. On a $10,000 position that is $3 vs $187 annually, a gap of $184 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 9.58% for NMAI.
Holdings Overlap
IVV and NMAI share 181 holdings out of 988 unique holdings combined, representing a 28.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or NMAI?
IVV has an expense ratio of 0.03% while NMAI charges 1.87%. IVV is the cheaper option. On a $10,000 investment, that is $184 per year of difference.
Which performed better, IVV or NMAI?
Over the past year IVV returned +21.89% vs +26.47% for NMAI, so NMAI leads on 1-year performance. Over the longest common window we track (5 years), IVV annualized +7.00% vs +6.57% for NMAI. Past performance does not guarantee future results.
Which is riskier, IVV or NMAI?
NMAI has been the more volatile fund at 18.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs NMAI -35.6%.
Should I hold both IVV and NMAI?
IVV and NMAI have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NMAI?
IVV and NMAI share 181 common holdings with a 28.6% weight overlap. Combined, they hold 988 unique securities.
Which pays a higher dividend, IVV or NMAI?
IVV yields 1.10% while NMAI yields 9.58%, so NMAI currently pays the higher dividend yield.
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