IVV vs NMS
iShares Core S&P 500 ETF vs Nuveen Minnesota Quality Municipal Income Fund
Quick Verdict
IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | NMS | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | - | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 6.79% | |
| Holdings | 508 | 145 | |
| YTD Return | +13.80% | +3.24% | |
| 1Y Return | +23.01% | +10.03% | |
| 3Y Return (annualized) | +21.77% | +9.29% | |
| 5Y Return (annualized) | +13.39% | -0.51% | |
| Volatility (annualized) | 15.1% | 13.3% | |
| Max Drawdown | -56.5% | -41.8% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Jun 25, 1993 |
IVV vs NMS Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Minnesota Quality Municipal Income Fund (NMS) is a ETF from Nuveen. Over the past year IVV returned +23.01% while NMS returned +10.03%. Year to date, IVV is up 13.80% versus a gain of 3.24% for NMS.
Over three years, IVV compounded at +21.77% per year against +9.29% for NMS; over five years the annualized figures are +13.39% and -0.51% respectively. Across the full 12-year window we track, IVV has the edge at +7.04% annualized vs +0.33%. 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 13.3% for NMS. 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 -41.8% for NMS. 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
IVV and NMS share 0 holdings out of 520 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 NMS?
Over the past year IVV returned +23.01% vs +10.03% for NMS, so IVV leads on 1-year performance. Over the longest common window we track (12 years), IVV annualized +7.04% vs +0.33% for NMS. Past performance does not guarantee future results.
Which is riskier, IVV or NMS?
IVV has been the more volatile fund at 15.1% annualized versus 13.3% for NMS. Worst drawdown: IVV -56.5% vs NMS -41.8%.
Should I hold both IVV and NMS?
IVV and NMS have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NMS?
IVV and NMS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, IVV or NMS?
IVV yields 1.09% while NMS yields 6.79%, so NMS currently pays the higher dividend yield.
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