IVV vs RFMZ
iShares Core S&P 500 ETF vs RiverNorth Flexible Municipal Income Fund II Inc
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 | RFMZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 4.27% | |
| AUM | $907.0B | $351M | |
| Dividend Yield | 1.10% | 6.94% | |
| Holdings | 508 | 126 | |
| YTD Return | +12.71% | +8.36% | |
| 1Y Return | +21.89% | +13.76% | |
| 3Y Return (annualized) | +22.08% | +6.67% | |
| 5Y Return (annualized) | +12.96% | -2.16% | |
| Volatility (annualized) | 15.1% | 15.1% | |
| Max Drawdown | -56.5% | -39.5% | |
| Fund Family | iShares by BlackRock (US) | RiverNorth | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Feb 24, 2021 |
IVV vs RFMZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and RiverNorth Flexible Municipal Income Fund II Inc (RFMZ) is a ETF from RiverNorth. Over the past year IVV returned +21.89% while RFMZ returned +13.76%. Year to date, IVV is up 12.71% versus a gain of 8.36% for RFMZ.
Over three years, IVV compounded at +22.08% per year against +6.67% for RFMZ; over five years the annualized figures are +12.96% and -2.16% respectively. Across the full 6-year window we track, IVV has the edge at +7.00% annualized vs -0.45%. 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 15.1% for RFMZ. 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 -39.5% for RFMZ. 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 RFMZ charges 4.27%. On a $10,000 position that is $3 vs $427 annually, a gap of $424 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 6.94% for RFMZ.
Holdings Overlap
IVV and RFMZ share 0 holdings out of 564 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 RFMZ?
IVV has an expense ratio of 0.03% while RFMZ charges 4.27%. IVV is the cheaper option. On a $10,000 investment, that is $424 per year of difference.
Which performed better, IVV or RFMZ?
Over the past year IVV returned +21.89% vs +13.76% for RFMZ, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +7.00% vs -0.45% for RFMZ. Past performance does not guarantee future results.
Which is riskier, IVV or RFMZ?
IVV has been the more volatile fund at 15.1% annualized versus 15.1% for RFMZ. Worst drawdown: IVV -56.5% vs RFMZ -39.5%.
Should I hold both IVV and RFMZ?
IVV and RFMZ 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 RFMZ?
IVV and RFMZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 564 unique securities.
Which pays a higher dividend, IVV or RFMZ?
IVV yields 1.10% while RFMZ yields 6.94%, so RFMZ currently pays the higher dividend yield.
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