IVV vs ZMAY
iShares Core S&P 500 ETF vs Innovator Equity Defined Protection ETF - 1 Yr May
Which is better, IVV or ZMAY?
Large Cap Blend against Option Writing.
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 | ZMAY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.79% |
| AUM | $876.4B | $83M |
| Dividend Yield | 1.06% | 0.00% |
| Holdings | 508 | 14 |
| YTD Return | +12.39%Best | +3.32% |
| 1Y Return | +16.61%Best | +4.95% |
| 3Y Return (annualized) | +21.38% | - |
| 5Y Return (annualized) | +13.51% | - |
| Volatility (annualized) | 12.0% | 1.0%Best |
| Max Drawdown | -8.9% | -0.7%Best |
| $10,000 over 1.4 years | $13,936Best | $10,827 |
| Fund Family | iShares by BlackRock (US) | Innovator ETFs Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Option Writing |
| Inception | May 15, 2000 | May 1, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 1, 2025 to Sep 18, 2026 (1.4 years).
IVV vs ZMAY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.4 years both funds cover.
IVV vs ZMAY Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY) is an ETF from Innovator ETFs Trust. Over the past year IVV returned +16.61% while ZMAY returned +4.95%. Year to date, IVV is up 12.39% versus a gain of 3.32% for ZMAY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 1.0% for ZMAY. 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 -8.9% for IVV and -0.7% for ZMAY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while ZMAY charges 0.79%. On a $10,000 position that is $3 vs $79 annually, a gap of $76 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.00% for ZMAY.
Holdings Overlap
We hold position weights for 490 holdings in IVV and 1 in ZMAY, totalling 99.3% and 103.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 490 positions we hold weights for in IVV and 1 in ZMAY, against full books of 508 and 14.
You are not choosing between two funds in isolation.
Whichever of IVV and ZMAY 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 ZMAY?
IVV has an expense ratio of 0.03% while ZMAY charges 0.79%. IVV is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, IVV or ZMAY?
Over the past year IVV returned +16.61% vs +4.95% for ZMAY, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +26.75% vs +5.84% for ZMAY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or ZMAY?
IVV has been the more volatile fund at 12.0% annualized versus 1.0% for ZMAY. Worst drawdown: IVV -8.9% vs ZMAY -0.7%.
Should I hold both IVV and ZMAY?
IVV and ZMAY have a monthly-return correlation of 0.73, 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 ZMAY?
IVV yields 1.06% while ZMAY yields 0.00%, so IVV currently pays the higher dividend yield.
Is ZMAY 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.