IVV vs RMMZ
iShares Core S&P 500 ETF vs RiverNorth Managed Duration 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 | RMMZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 6.81% | |
| AUM | $907.0B | $135M | |
| Dividend Yield | 1.10% | 5.75% | |
| Holdings | 508 | 100 | |
| YTD Return | +12.39% | +5.86% | |
| 1Y Return | +20.24% | +5.78% | |
| 3Y Return (annualized) | +21.78% | +5.05% | |
| 5Y Return (annualized) | +12.84% | - | |
| Volatility (annualized) | 15.1% | 16.8% | |
| Max Drawdown | -56.5% | -27.1% | |
| Fund Family | iShares by BlackRock (US) | RiverNorth | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Feb 10, 2022 |
IVV vs RMMZ Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and RiverNorth Managed Duration Municipal Income Fund II, Inc (RMMZ) is a ETF from RiverNorth. Over the past year IVV returned +20.24% while RMMZ returned +5.78%. Year to date, IVV is up 12.39% versus a gain of 5.86% for RMMZ.
Over three years, IVV compounded at +21.78% per year against +5.05% for RMMZ. Across the full 5-year window we track, IVV has the edge at +6.98% annualized vs +1.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RMMZ has been the more volatile fund, with annualized monthly volatility of 16.8% 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 -27.1% for RMMZ. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while RMMZ charges 6.81%. On a $10,000 position that is $3 vs $681 annually, a gap of $678 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 5.75% for RMMZ.
Holdings Overlap
IVV and RMMZ share 0 holdings out of 557 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 RMMZ?
IVV has an expense ratio of 0.03% while RMMZ charges 6.81%. IVV is the cheaper option. On a $10,000 investment, that is $678 per year of difference.
Which performed better, IVV or RMMZ?
Over the past year IVV returned +20.24% vs +5.78% for RMMZ, so IVV leads on 1-year performance. Over the longest common window we track (5 years), IVV annualized +6.98% vs +1.80% for RMMZ. Past performance does not guarantee future results.
Which is riskier, IVV or RMMZ?
RMMZ has been the more volatile fund at 16.8% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs RMMZ -27.1%.
Should I hold both IVV and RMMZ?
IVV and RMMZ have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and RMMZ?
IVV and RMMZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, IVV or RMMZ?
IVV yields 1.10% while RMMZ yields 5.75%, so RMMZ currently pays the higher dividend yield.
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