IVV vs VTN
iShares Core S&P 500 ETF vs Invesco Trust for Investment Grade New York Municipals
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 | VTN | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 2.69% | |
| AUM | $907.0B | $3,218.67 | |
| Dividend Yield | 1.10% | 7.78% | |
| Holdings | 508 | 183 | |
| YTD Return | +14.29% | +2.03% | |
| 1Y Return | +21.79% | +16.07% | |
| 3Y Return (annualized) | +22.19% | +11.32% | |
| 5Y Return (annualized) | +13.28% | +1.43% | |
| Volatility (annualized) | 15.1% | 13.8% | |
| Max Drawdown | -56.5% | -100.0% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Tax Preferred | |
| Inception | May 15, 2000 | Mar 27, 1992 |
IVV vs VTN Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Invesco Trust for Investment Grade New York Municipals (VTN) is a ETF from Invesco (US). Over the past year IVV returned +21.79% while VTN returned +16.07%. Year to date, IVV is up 14.29% versus a gain of 2.03% for VTN.
Over three years, IVV compounded at +22.19% per year against +11.32% for VTN; over five years the annualized figures are +13.28% and +1.43% respectively. Across the full 26-year window we track, IVV has the edge at +7.06% annualized vs +0.16%. 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 13.8% for VTN. 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 -100.0% for VTN. 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 0.23. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while VTN charges 2.69%. On a $10,000 position that is $3 vs $269 annually, a gap of $266 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 7.78% for VTN.
Holdings Overlap
IVV and VTN share 0 holdings out of 579 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 VTN?
IVV has an expense ratio of 0.03% while VTN charges 2.69%. IVV is the cheaper option. On a $10,000 investment, that is $266 per year of difference.
Which performed better, IVV or VTN?
Over the past year IVV returned +21.79% vs +16.07% for VTN, so IVV leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.06% vs +0.16% for VTN. Past performance does not guarantee future results.
Which is riskier, IVV or VTN?
IVV has been the more volatile fund at 15.1% annualized versus 13.8% for VTN. Worst drawdown: IVV -56.5% vs VTN -100.0%.
Should I hold both IVV and VTN?
IVV and VTN have a monthly-return correlation of 0.23, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and VTN?
IVV and VTN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 579 unique securities.
Which pays a higher dividend, IVV or VTN?
IVV yields 1.10% while VTN yields 7.78%, so VTN currently pays the higher dividend yield.
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