IVV vs PNI
iShares Core S&P 500 ETF vs PIMCO New York Municipal Income Fund II
Which is better, IVV or PNI?
Large Cap Blend against Municipal New York.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | PNI |
|---|---|---|
| Expense Ratio | 0.03%Best | 1.31% |
| AUM | $876.4B | $190M |
| Dividend Yield | 1.06% | 4.70% |
| Holdings | 508 | 148 |
| YTD Return | +12.27%Best | -2.59% |
| 1Y Return | +17.04%Best | -2.05% |
| 3Y Return (annualized) | +21.24%Best | +2.74% |
| 5Y Return (annualized) | +13.08%Best | -6.72% |
| Volatility (annualized) | 14.8%Best | 17.8% |
| Max Drawdown | -56.5%Best | -64.2% |
| $10,000 over 5 years | $18,490Best | $7,062 |
| Fund Family | iShares by BlackRock (US) | PIMCO (US) |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal New York |
| Inception | May 15, 2000 | Jun 28, 2002 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 26, 2002 to Sep 17, 2026 (24.2 years).
IVV vs PNI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs PNI Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and PIMCO New York Municipal Income Fund II (PNI) is an ETF from PIMCO (US). Over the past year IVV returned +17.04% while PNI returned -2.05%. Year to date, IVV is up 12.27% versus a loss of 2.59% for PNI.
Over three years, IVV compounded at +21.24% per year against +2.74% for PNI; over five years the annualized figures are +13.08% and -6.72% respectively. Across the full 24-year window we track, IVV has the edge at +9.22% annualized vs -2.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PNI has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 14.8% 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 -64.2% for PNI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.26. They move largely independently of each other.
Fees and Cost Over Time
IVV charges 0.03% per year while PNI charges 1.31%. On a $10,000 position that is $3 vs $131 annually, a gap of $128 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 4.70% for PNI.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 57 in PNI, totalling 99.3% and 69.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 153 days apart, IVV as of Aug 31, 2026 and PNI as of Mar 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 57 in PNI, against full books of 508 and 148.
You are not choosing between two funds in isolation.
Whichever of IVV and PNI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or PNI?
IVV has an expense ratio of 0.03% while PNI charges 1.31%. IVV is the cheaper option, by $128 a year on a $10,000 investment.
Which performed better, IVV or PNI?
Over the past year IVV returned +17.04% vs -2.05% for PNI, so IVV leads on 1-year performance. Over the longest common window we track (24 years), IVV annualized +9.22% vs -2.31% for PNI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or PNI?
PNI has been the more volatile fund at 17.8% annualized versus 14.8% for IVV. Worst drawdown: IVV -56.5% vs PNI -64.2%.
Should I hold both IVV and PNI?
IVV and PNI have a monthly-return correlation of 0.26, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IVV or PNI?
IVV yields 1.06% while PNI yields 4.70%, so PNI currently pays the higher dividend yield.
Is PNI better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.