IVV vs TMV
iShares Core S&P 500 ETF vs Direxion Daily 20+ Year Treasury Bear 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 | TMV | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.97% | |
| AUM | $865.2B | $180M | |
| Dividend Yield | 1.09% | 2.60% | |
| Holdings | 508 | 9 | |
| YTD Return | +13.43% | +16.14% | |
| 1Y Return | +22.61% | +16.41% | |
| 3Y Return (annualized) | +21.47% | +9.31% | |
| 5Y Return (annualized) | +13.26% | +25.90% | |
| Volatility (annualized) | 15.1% | 40.1% | |
| Max Drawdown | -56.5% | -99.1% | |
| Fund Family | iShares by BlackRock (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Apr 16, 2009 |
IVV vs TMV Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Direxion Daily 20+ Year Treasury Bear 3X ETF (TMV) is a ETF from Direxion Shares ETF Trust. Over the past year IVV returned +22.61% while TMV returned +16.41%. Year to date, IVV is up 13.43% versus a gain of 16.14% for TMV.
Over three years, IVV compounded at +21.47% per year against +9.31% for TMV; over five years the annualized figures are +13.26% and +25.90% respectively. Across the full 17-year window we track, IVV has the edge at +7.03% annualized vs -14.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMV has been the more volatile fund, with annualized monthly volatility of 40.1% 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 -99.1% for TMV. 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 0.07. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while TMV charges 0.97%. On a $10,000 position that is $3 vs $97 annually, a gap of $94 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 2.60% for TMV.
Holdings Overlap
IVV and TMV share 0 holdings out of 508 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 TMV?
IVV has an expense ratio of 0.03% while TMV charges 0.97%. IVV is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, IVV or TMV?
Over the past year IVV returned +22.61% vs +16.41% for TMV, so IVV leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +7.03% vs -14.82% for TMV. Past performance does not guarantee future results.
Which is riskier, IVV or TMV?
TMV has been the more volatile fund at 40.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs TMV -99.1%.
Should I hold both IVV and TMV?
IVV and TMV have a monthly-return correlation of 0.07, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and TMV?
IVV and TMV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, IVV or TMV?
IVV yields 1.09% while TMV yields 2.60%, so TMV currently pays the higher dividend yield.
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