IVV vs SMAY
iShares Core S&P 500 ETF vs FT Vest US Small Cap Moderate Buffer ETF - May
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 | SMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.90% | |
| AUM | $865.2B | $110M | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 5 | |
| YTD Return | +14.50% | +10.41% | |
| 1Y Return | +22.02% | +15.83% | |
| 3Y Return (annualized) | +21.80% | +10.94% | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.1% | 9.8% | |
| Max Drawdown | -56.5% | -14.4% | |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | May 19, 2023 |
IVV vs SMAY Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and FT Vest US Small Cap Moderate Buffer ETF - May (SMAY) is a ETF from First Trust Portfolios (US). Over the past year IVV returned +22.02% while SMAY returned +15.83%. Year to date, IVV is up 14.50% versus a gain of 10.41% for SMAY.
Over three years, IVV compounded at +21.80% per year against +10.94% for SMAY. Across the full 3-year window we track, SMAY has the edge at +11.52% annualized vs +7.07%. 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 9.8% for SMAY. 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 -14.4% for SMAY. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while SMAY charges 0.90%. On a $10,000 position that is $3 vs $90 annually, a gap of $87 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for SMAY.
Holdings Overlap
IVV and SMAY share 0 holdings out of 506 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 SMAY?
IVV has an expense ratio of 0.03% while SMAY charges 0.90%. IVV is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, IVV or SMAY?
Over the past year IVV returned +22.02% vs +15.83% for SMAY, so IVV leads on 1-year performance. Over the longest common window we track (3 years), IVV annualized +7.07% vs +11.52% for SMAY. Past performance does not guarantee future results.
Which is riskier, IVV or SMAY?
IVV has been the more volatile fund at 15.1% annualized versus 9.8% for SMAY. Worst drawdown: IVV -56.5% vs SMAY -14.4%.
Should I hold both IVV and SMAY?
IVV and SMAY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SMAY?
IVV and SMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVV or SMAY?
IVV yields 1.09% while SMAY yields 0.00%, so IVV currently pays the higher dividend yield.
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