IVV vs NPFD
iShares Core S&P 500 ETF vs Nuveen Variable Rate Preferred & Income 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 | NPFD | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.83% | |
| AUM | $865.2B | - | |
| Dividend Yield | 1.09% | 9.84% | |
| Holdings | 508 | 189 | |
| YTD Return | +13.43% | +4.03% | |
| 1Y Return | +22.61% | +5.86% | |
| 3Y Return (annualized) | +21.47% | +15.20% | |
| 5Y Return (annualized) | +13.26% | - | |
| Volatility (annualized) | 15.1% | 16.5% | |
| Max Drawdown | -56.5% | -39.2% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Allocation/Balanced | |
| Inception | May 15, 2000 | Dec 15, 2021 |
IVV vs NPFD Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen Variable Rate Preferred & Income Fund (NPFD) is a ETF from Nuveen. Over the past year IVV returned +22.61% while NPFD returned +5.86%. Year to date, IVV is up 13.43% versus a gain of 4.03% for NPFD.
Over three years, IVV compounded at +21.47% per year against +15.20% for NPFD. Across the full 5-year window we track, IVV has the edge at +7.03% annualized vs +2.40%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NPFD has been the more volatile fund, with annualized monthly volatility of 16.5% 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 -39.2% for NPFD. 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while NPFD charges 0.83%. On a $10,000 position that is $3 vs $83 annually, a gap of $80 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 9.84% for NPFD.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, IVV or NPFD?
IVV has an expense ratio of 0.03% while NPFD charges 0.83%. IVV is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, IVV or NPFD?
Over the past year IVV returned +22.61% vs +5.86% for NPFD, so IVV leads on 1-year performance. Over the longest common window we track (5 years), IVV annualized +7.03% vs +2.40% for NPFD. Past performance does not guarantee future results.
Which is riskier, IVV or NPFD?
NPFD has been the more volatile fund at 16.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs NPFD -39.2%.
Should I hold both IVV and NPFD?
IVV and NPFD have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NPFD?
IVV and NPFD share 2 common holdings with a 0.5% weight overlap. Combined, they hold 653 unique securities.
Which pays a higher dividend, IVV or NPFD?
IVV yields 1.09% while NPFD yields 9.84%, so NPFD currently pays the higher dividend yield.
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