IVV vs SMI
iShares Core S&P 500 ETF vs HIP Sustainable Muni ETF
Which is better, IVV or SMI?
Large Cap Blend against Municipal Bond.
IVV has a lower expense ratio. IVV led over 1Y 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 | SMI |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.24% |
| AUM | $876.4B | $11M |
| Dividend Yield | 1.06% | 2.83% |
| Holdings | 508 | 37 |
| Volatility (annualized) | 16.7% | 6.6%Best |
| Max Drawdown | -24.5% | -14.2%Best |
| $10,000 over 3.8 years | $14,221Best | $8,855 |
| Fund Family | iShares by BlackRock (US) | VanEck |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal Bond |
| Inception | May 15, 2000 | Sep 8, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 450 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Sep 11, 2026 and SMI through Jun 18, 2025.
Volatility and max drawdown, and the $10,000 over 3.8 years row, are measured over the window both funds cover: Sep 10, 2021 to Jun 18, 2025 (3.8 years).
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 6.6% for SMI. 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 -24.5% for IVV and -14.2% for SMI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IVV charges 0.03% per year while SMI charges 0.24%. On a $10,000 position that is $3 vs $24 annually, a gap of $21 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 2.83% for SMI.
You are not choosing between two funds in isolation.
Whichever of IVV and SMI 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 SMI?
IVV has an expense ratio of 0.03% while SMI charges 0.24%. IVV is the cheaper option, by $21 a year on a $10,000 investment.
Which is riskier, IVV or SMI?
IVV has been the more volatile fund at 16.7% annualized versus 6.6% for SMI. Worst drawdown: IVV -24.5% vs SMI -14.2%.
Should I hold both IVV and SMI?
IVV and SMI have a monthly-return correlation of 0.68, 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 SMI?
IVV yields 1.06% while SMI yields 2.83%, so SMI currently pays the higher dividend yield.
Is SMI better than IVV?
IVV has a lower expense ratio. IVV led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.