IVV vs SPXX
iShares Core S&P 500 ETF vs Nuveen S&P 500 Dynamic Overwrite Fund
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 | SPXX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.91% | |
| AUM | $907.0B | - | |
| Dividend Yield | 1.10% | 6.99% | |
| Holdings | 508 | 344 | |
| YTD Return | +12.71% | +10.56% | |
| 1Y Return | +21.89% | +16.03% | |
| 3Y Return (annualized) | +22.08% | +16.58% | |
| 5Y Return (annualized) | +12.96% | +8.62% | |
| Volatility (annualized) | 15.1% | 15.9% | |
| Max Drawdown | -56.5% | -60.0% | |
| Fund Family | iShares by BlackRock (US) | Nuveen | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Nov 22, 2005 |
IVV vs SPXX Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is a ETF from Nuveen. Over the past year IVV returned +21.89% while SPXX returned +16.03%. Year to date, IVV is up 12.71% versus a gain of 10.56% for SPXX.
Over three years, IVV compounded at +22.08% per year against +16.58% for SPXX; over five years the annualized figures are +12.96% and +8.62% respectively. Across the full 21-year window we track, IVV has the edge at +7.00% annualized vs +1.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXX has been the more volatile fund, with annualized monthly volatility of 15.9% 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 -60.0% for SPXX. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while SPXX charges 0.91%. On a $10,000 position that is $3 vs $91 annually, a gap of $88 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 6.99% for SPXX.
Holdings Overlap
IVV and SPXX share 87 holdings out of 733 unique holdings combined, representing a 62.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, IVV or SPXX?
IVV has an expense ratio of 0.03% while SPXX charges 0.91%. IVV is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
Which performed better, IVV or SPXX?
Over the past year IVV returned +21.89% vs +16.03% for SPXX, so IVV leads on 1-year performance. Over the longest common window we track (21 years), IVV annualized +7.00% vs +1.71% for SPXX. Past performance does not guarantee future results.
Which is riskier, IVV or SPXX?
SPXX has been the more volatile fund at 15.9% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SPXX -60.0%.
Should I hold both IVV and SPXX?
IVV and SPXX have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SPXX?
IVV and SPXX share 87 common holdings with a 62.1% weight overlap. Combined, they hold 733 unique securities.
Which pays a higher dividend, IVV or SPXX?
IVV yields 1.10% while SPXX yields 6.99%, so SPXX currently pays the higher dividend yield.
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