IVV vs TMF
iShares Core S&P 500 ETF vs Direxion Daily 20+ Year Treasury Bull 3X ETF
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 | TMF | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.90% | |
| AUM | $865.2B | $2.3B | |
| Dividend Yield | 1.09% | 4.08% | |
| Holdings | 508 | 14 | |
| YTD Return | +13.80% | -13.88% | |
| 1Y Return | +23.70% | -15.75% | |
| 3Y Return (annualized) | +21.49% | -18.84% | |
| 5Y Return (annualized) | +13.43% | -34.00% | |
| Volatility (annualized) | 15.1% | 40.7% | |
| Max Drawdown | -56.5% | -93.3% | |
| Fund Family | iShares by BlackRock (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Apr 16, 2009 |
IVV vs TMF Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) is a ETF from Direxion Shares ETF Trust. Over the past year IVV returned +23.70% while TMF returned -15.75%. Year to date, IVV is up 13.80% versus a loss of 13.88% for TMF.
Over three years, IVV compounded at +21.49% per year against -18.84% for TMF; over five years the annualized figures are +13.43% and -34.00% respectively. Across the full 17-year window we track, IVV has the edge at +7.05% annualized vs -7.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMF has been the more volatile fund, with annualized monthly volatility of 40.7% 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 -93.3% for TMF. 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 -0.09. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while TMF 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 4.08% for TMF.
Holdings Overlap
IVV and TMF share 0 holdings out of 510 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 TMF?
IVV has an expense ratio of 0.03% while TMF 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 TMF?
Over the past year IVV returned +23.70% vs -15.75% for TMF, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.05% vs -7.85% for TMF. Past performance does not guarantee future results.
Which is riskier, IVV or TMF?
TMF has been the more volatile fund at 40.7% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs TMF -93.3%.
Should I hold both IVV and TMF?
IVV and TMF have a monthly-return correlation of -0.09, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TMF?
IVV and TMF share 0 common holdings with a 0.0% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, IVV or TMF?
IVV yields 1.09% while TMF yields 4.08%, so TMF currently pays the higher dividend yield.
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