ETB vs IVV
Eaton Vance Tax-Managed Buy-Write Income Fund vs iShares Core S&P 500 ETF
Which is better, ETB or IVV?
Multi Alternative against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 38.9% of the fund in its ten largest positions against 41.0%.
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 | ETB | IVV |
|---|---|---|
| Expense Ratio | 1.12% | 0.03%Best |
| AUM | $509M | $896.5B |
| Dividend Yield | 7.47% | 1.10% |
| Holdings | 132 | 508 |
| YTD Return | +7.31% | +13.59%Best |
| 1Y Return | +12.10% | +17.54%Best |
| 3Y Return (annualized) | +16.36% | +22.46%Best |
| 5Y Return (annualized) | +7.84% | +13.28%Best |
| Volatility (annualized) | 17.2% | 14.9%Best |
| Max Drawdown | -59.4% | -56.5%Best |
| $10,000 over 5 years | $14,585 | $18,654Best |
| Top 10 Weight | 41.0% | 38.9%Best |
| Fund Family | Eaton Vance | iShares by BlackRock (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Apr 27, 2005 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Apr 27, 2005 to Oct 14, 2026 (21.5 years).
ETB vs IVV 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
ETB vs IVV Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is an ETF from Eaton Vance and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year ETB returned +12.10% while IVV returned +17.54%. Year to date, ETB is up 7.31% versus a gain of 13.59% for IVV.
Over three years, ETB compounded at +16.36% per year against +22.46% for IVV; over five years the annualized figures are +7.84% and +13.28% respectively. Across the full 22-year window we track, IVV has the edge at +9.66% annualized vs +1.02%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETB has been the more volatile fund, with annualized monthly volatility of 17.2% compared with 14.9% 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 -59.4% for ETB and -56.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETB charges 1.12% per year while IVV charges 0.03%. On a $10,000 position that is $112 vs $3 annually, a gap of $109 per year that compounds over a long holding period. On income, ETB currently yields 7.47% against 1.10% for IVV.
Holdings Overlap
99.2% of ETB's money is in holdings IVV also owns. 69.1% of IVV's money is in holdings ETB also owns.
Most of ETB is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, ETB as of Jul 31, 2026 and IVV as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
124 positions in common, counted across the 132 positions we hold weights for in ETB and 506 in IVV, against full books of 132 and 508.
What only one of them owns
Our book lists 376 positions for IVV that do not appear in our book for ETB (30.4% of the fund), and 8 for ETB that do not appear in IVV (0.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ETB | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.75% | 8.44% | 0.69% |
| AAPLApple, Inc | 7.49% | 7.29% | 0.20% |
| MSFTMicrosoft Corp | 5.99% | 5.76% | 0.23% |
| AMZNAmazon.Com Inc | 4.58% | 3.68% | 0.90% |
| GOOGLAlphabet Inc | 3.37% | 3.00% | 0.37% |
| AVGOBroadcom Inc | 3.27% | 2.47% | 0.80% |
| GOOGAlphabet Inc. C | 2.63% | 2.41% | 0.22% |
| METAMeta Platforms Inc | 2.03% | 2.42% | 0.39% |
| JPMJpmorgan Chase & Co | 1.99% | 1.34% | 0.65% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.85% | 1.41% | 0.44% |
99.2% of ETB is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ETB or IVV?
ETB has an expense ratio of 1.12% while IVV charges 0.03%. IVV is the cheaper option, by $109 a year on a $10,000 investment.
Which performed better, ETB or IVV?
Over the past year ETB returned +12.10% vs +17.54% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (22 years), ETB annualized +1.02% vs +9.66% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETB or IVV?
ETB has been the more volatile fund at 17.2% annualized versus 14.9% for IVV. Worst drawdown: ETB -59.4% vs IVV -56.5%.
Should I hold both ETB and IVV?
ETB and IVV have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ETB and IVV?
99.2% of ETB's money is in holdings IVV also owns. 69.1% of IVV's is in holdings ETB also owns. They hold 124 positions in common, counted across the 132 positions we hold weights for in ETB and 506 in IVV.
Which pays a higher dividend, ETB or IVV?
ETB yields 7.47% while IVV yields 1.10%, so ETB currently pays the higher dividend yield.
Is IVV better than ETB?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. IVV is less concentrated, with 38.9% of the fund in its ten largest positions against 41.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.