IVV vs OIA
iShares Core S&P 500 ETF vs Invesco Municipal Income Opportunities Trust
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 | OIA | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 2.41% | |
| AUM | $907.0B | $1,753.44 | |
| Dividend Yield | 1.10% | 5.72% | |
| Holdings | 508 | 239 | |
| YTD Return | +12.71% | +3.37% | |
| 1Y Return | +21.89% | +14.34% | |
| 3Y Return (annualized) | +22.08% | +4.86% | |
| 5Y Return (annualized) | +12.96% | -1.28% | |
| Volatility (annualized) | 15.1% | 15.0% | |
| Max Drawdown | -56.5% | -58.7% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Sep 19, 1988 |
IVV vs OIA Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Municipal Income Opportunities Trust (OIA) is a ETF from Invesco (US). Over the past year IVV returned +21.89% while OIA returned +14.34%. Year to date, IVV is up 12.71% versus a gain of 3.37% for OIA.
Over three years, IVV compounded at +22.08% per year against +4.86% for OIA; over five years the annualized figures are +12.96% and -1.28% respectively. Across the full 26-year window we track, IVV has the edge at +7.00% annualized vs -0.18%. 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 15.0% for OIA. 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 -58.7% for OIA. 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 0.27. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while OIA charges 2.41%. On a $10,000 position that is $3 vs $241 annually, a gap of $238 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 5.72% for OIA.
Holdings Overlap
IVV and OIA share 0 holdings out of 581 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 OIA?
IVV has an expense ratio of 0.03% while OIA charges 2.41%. IVV is the cheaper option. On a $10,000 investment, that is $238 per year of difference.
Which performed better, IVV or OIA?
Over the past year IVV returned +21.89% vs +14.34% for OIA, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.00% vs -0.18% for OIA. Past performance does not guarantee future results.
Which is riskier, IVV or OIA?
IVV has been the more volatile fund at 15.1% annualized versus 15.0% for OIA. Worst drawdown: IVV -56.5% vs OIA -58.7%.
Should I hold both IVV and OIA?
IVV and OIA have a monthly-return correlation of 0.27, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and OIA?
IVV and OIA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 581 unique securities.
Which pays a higher dividend, IVV or OIA?
IVV yields 1.10% while OIA yields 5.72%, so OIA currently pays the higher dividend yield.
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