IVV vs PML
iShares Core S&P 500 ETF vs PIMCO Municipal Income Fund II
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 | PML | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 4.81% | |
| AUM | $865.2B | $1.0B | |
| Dividend Yield | 1.09% | 5.83% | |
| Holdings | 508 | 364 | |
| YTD Return | +13.80% | +0.83% | |
| 1Y Return | +23.01% | +8.63% | |
| 3Y Return (annualized) | +21.77% | -0.91% | |
| 5Y Return (annualized) | +13.39% | -8.24% | |
| Volatility (annualized) | 15.1% | 15.5% | |
| Max Drawdown | -56.5% | -67.4% | |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Jun 28, 2002 |
IVV vs PML Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and PIMCO Municipal Income Fund II (PML) is a ETF from PIMCO (US). Over the past year IVV returned +23.01% while PML returned +8.63%. Year to date, IVV is up 13.80% versus a gain of 0.83% for PML.
Over three years, IVV compounded at +21.77% per year against -0.91% for PML; over five years the annualized figures are +13.39% and -8.24% respectively. Across the full 24-year window we track, IVV has the edge at +7.04% annualized vs -1.64%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PML has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -67.4% for PML. 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 0.31. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while PML charges 4.81%. On a $10,000 position that is $3 vs $481 annually, a gap of $478 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 5.83% for PML.
Holdings Overlap
IVV and PML share 0 holdings out of 653 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 PML?
IVV has an expense ratio of 0.03% while PML charges 4.81%. IVV is the cheaper option. On a $10,000 investment, that is $478 per year of difference.
Which performed better, IVV or PML?
Over the past year IVV returned +23.01% vs +8.63% for PML, so IVV leads on 1-year performance. Over the longest common window we track (24 years), IVV annualized +7.04% vs -1.64% for PML. Past performance does not guarantee future results.
Which is riskier, IVV or PML?
PML has been the more volatile fund at 15.5% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs PML -67.4%.
Should I hold both IVV and PML?
IVV and PML have a monthly-return correlation of 0.31, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and PML?
IVV and PML share 0 common holdings with a 0.0% weight overlap. Combined, they hold 653 unique securities.
Which pays a higher dividend, IVV or PML?
IVV yields 1.09% while PML yields 5.83%, so PML currently pays the higher dividend yield.
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