IVV vs ZSEP
iShares Core S&P 500 ETF vs Innovator Equity Defined Protection ETF - 1 Yr September
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 | ZSEP | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.79% | |
| AUM | $907.0B | $123M | |
| Dividend Yield | 1.10% | 0.00% | |
| Holdings | 508 | 5 | |
| YTD Return | +12.71% | +3.71% | |
| 1Y Return | +21.89% | +6.02% | |
| 3Y Return (annualized) | +22.08% | - | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | 2.7% | |
| Max Drawdown | -56.5% | -4.0% | |
| Fund Family | iShares by BlackRock (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Aug 31, 2024 |
IVV vs ZSEP Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) is a ETF from Innovator ETFs Trust. Over the past year IVV returned +21.89% while ZSEP returned +6.02%. Year to date, IVV is up 12.71% versus a gain of 3.71% for ZSEP.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 2.7% for ZSEP. 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 -4.0% for ZSEP. 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while ZSEP 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 ZSEP.
Frequently Asked Questions
Which is cheaper, IVV or ZSEP?
IVV has an expense ratio of 0.03% while ZSEP 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 ZSEP?
Over the past year IVV returned +21.89% vs +6.02% for ZSEP, so IVV leads on 1-year performance. Over the longest common window we track (2 years), IVV annualized +7.00% vs +6.54% for ZSEP. Past performance does not guarantee future results.
Which is riskier, IVV or ZSEP?
IVV has been the more volatile fund at 15.1% annualized versus 2.7% for ZSEP. Worst drawdown: IVV -56.5% vs ZSEP -4.0%.
Should I hold both IVV and ZSEP?
IVV and ZSEP have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, IVV or ZSEP?
IVV yields 1.10% while ZSEP yields 0.00%, so IVV currently pays the higher dividend yield.
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