IVV vs ZMAY
iShares Core S&P 500 ETF vs Innovator Equity Defined Protection ETF - 1 Yr May
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 | ZMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.79% | |
| AUM | $907.0B | $83M | |
| Dividend Yield | 1.10% | 0.00% | |
| Holdings | 508 | 7 | |
| YTD Return | +12.71% | +3.05% | |
| 1Y Return | +21.89% | +5.30% | |
| 3Y Return (annualized) | +22.08% | - | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | 0.9% | |
| Max Drawdown | -56.5% | -0.7% | |
| Fund Family | iShares by BlackRock (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | May 1, 2025 |
IVV vs ZMAY Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY) is a ETF from Innovator ETFs Trust. Over the past year IVV returned +21.89% while ZMAY returned +5.30%. Year to date, IVV is up 12.71% versus a gain of 3.05% for ZMAY.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 0.9% 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 -56.5% for IVV and -0.7% for ZMAY. 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 0.73. 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 1.10% against 0.00% for ZMAY.
Holdings Overlap
IVV and ZMAY share 0 holdings out of 506 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 ZMAY?
IVV has an expense ratio of 0.03% while ZMAY charges 0.79%. IVV is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, IVV or ZMAY?
Over the past year IVV returned +21.89% vs +5.30% for ZMAY, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +7.00% vs +5.98% for ZMAY. Past performance does not guarantee future results.
Which is riskier, IVV or ZMAY?
IVV has been the more volatile fund at 15.1% annualized versus 0.9% for ZMAY. Worst drawdown: IVV -56.5% vs ZMAY -0.7%.
Should I hold both IVV and ZMAY?
IVV and ZMAY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and ZMAY?
IVV and ZMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVV or ZMAY?
IVV yields 1.10% while ZMAY yields 0.00%, so IVV currently pays the higher dividend yield.
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