IVV vs MDIV
iShares Core S&P 500 ETF vs First Trust Multi-Asset Diversified Income Index Fund
Which is better, IVV or MDIV?
Large Cap Blend against Equity-oriented Balanced.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y 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 | MDIV |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.75% |
| AUM | $896.5B | $411M |
| Dividend Yield | 1.10% | 7.05% |
| Holdings | 508 | 248 |
| YTD Return | +13.59%Best | +6.20% |
| 1Y Return | +17.54%Best | +7.54% |
| 3Y Return (annualized) | +22.46%Best | +9.65% |
| 5Y Return (annualized) | +13.28%Best | +5.39% |
| Volatility (annualized) | 14.1% | 13.5%Best |
| Max Drawdown | -33.9%Best | -57.0% |
| $10,000 over 5 years | $18,654Best | $13,002 |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) |
| Category | Equity | Allocation/Balanced |
| Style | Large Cap Blend | Equity-oriented Balanced |
| Inception | May 15, 2000 | Aug 13, 2012 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Aug 14, 2012 to Oct 14, 2026 (14.2 years).
IVV vs MDIV 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.
IVV vs MDIV Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and First Trust Multi-Asset Diversified Income Index Fund (MDIV) is an ETF from First Trust Portfolios (US). Over the past year IVV returned +17.54% while MDIV returned +7.54%. Year to date, IVV is up 13.59% versus a gain of 6.20% for MDIV.
Over three years, IVV compounded at +22.46% per year against +9.65% for MDIV; over five years the annualized figures are +13.28% and +5.39% respectively. Across the full 14-year window we track, IVV has the edge at +13.38% annualized vs +0.83%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 13.5% for MDIV. 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 -33.9% for IVV and -57.0% for MDIV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while MDIV charges 0.75%. On a $10,000 position that is $3 vs $75 annually, a gap of $72 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 7.05% for MDIV.
Holdings Overlap
At least 3.3% of IVV's money is in holdings MDIV also owns.
Stated as a floor: for MDIV, our book for it covers 86.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
IVV and MDIV share little of their money.
33 positions in common, counted across the 506 positions we hold weights for in IVV and 107 in MDIV, against full books of 508 and 248.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MDIV | Difference |
|---|---|---|---|
| CVXChevron Corp | 0.62% | 0.36% | 0.26% |
| PFEPfizer, Inc. | 0.24% | 0.67% | 0.43% |
| VICIVici Properties Inc | 0.04% | 0.86% | 0.82% |
| VZVerizon Communications, Inc. | 0.29% | 0.55% | 0.26% |
| MOAltria Group Inc. | 0.17% | 0.61% | 0.44% |
| TAT&T Inc. | 0.25% | 0.45% | 0.20% |
| AMTAmerican Tower Corporation | 0.11% | 0.53% | 0.42% |
| PEPPepsi Co Inc | 0.26% | 0.37% | 0.11% |
| EXRExtra Space Storage Inc. | 0.04% | 0.59% | 0.55% |
| KHCKraft Heinz Co. | 0.03% | 0.54% | 0.51% |
You are not choosing between two funds in isolation.
Whichever of IVV and MDIV 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 MDIV?
IVV has an expense ratio of 0.03% while MDIV charges 0.75%. IVV is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, IVV or MDIV?
Over the past year IVV returned +17.54% vs +7.54% for MDIV, so IVV leads on 1-year performance. Over the longest common window we track (14 years), IVV annualized +13.38% vs +0.83% for MDIV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or MDIV?
IVV has been the more volatile fund at 14.1% annualized versus 13.5% for MDIV. Worst drawdown: IVV -33.9% vs MDIV -57.0%.
Should I hold both IVV and MDIV?
IVV and MDIV have a monthly-return correlation of 0.76, 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 IVV and MDIV?
At least 3.3% of IVV's money is in holdings MDIV also owns. Our book for MDIV is partial, so the real figure is this or higher. They hold 33 positions in common, counted across the 506 positions we hold weights for in IVV and 107 in MDIV.
Which pays a higher dividend, IVV or MDIV?
IVV yields 1.10% while MDIV yields 7.05%, so MDIV currently pays the higher dividend yield.
Is MDIV better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.