IVV vs MMLG
iShares Core S&P 500 ETF vs First Trust Multi-Manager Large Growth ETF
Which is better, IVV or MMLG?
Large Cap Blend against Large Cap Growth.
IVV has a lower expense ratio. IVV led over the full window, MMLG over 1Y. The two have moved almost in lockstep, correlation 0.90.
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 | MMLG |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.85% |
| AUM | $896.5B | $95M |
| Dividend Yield | 1.10% | 0.00% |
| Holdings | 508 | 75 |
| Volatility (annualized) | 15.8%Best | 21.3% |
| Max Drawdown | -24.5%Best | -46.0% |
| $10,000 over 5.9 years | $25,087Best | $18,797 |
| Fund Family | iShares by BlackRock (US) | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | May 15, 2000 | Jul 20, 2020 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 132 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IVV has data through Oct 14, 2026 and MMLG through Jun 4, 2026.
Volatility and max drawdown, and the $10,000 over 5.9 years row, are measured over the window both funds cover: Jul 22, 2020 to Jun 4, 2026 (5.9 years).
Risk: Volatility and Drawdowns
MMLG has been the more volatile fund, with annualized monthly volatility of 21.3% compared with 15.8% 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 -24.5% for IVV and -46.0% for MMLG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. 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 MMLG charges 0.85%. On a $10,000 position that is $3 vs $85 annually, a gap of $82 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.00% for MMLG.
Holdings Overlap
At least 50.1% of IVV's money is in holdings MMLG also owns.
Stated as a floor: for MMLG, our book for it covers 94.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 154 days apart, IVV as of Oct 1, 2026 and MMLG as of Apr 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
57 positions in common, counted across the 506 positions we hold weights for in IVV and 76 in MMLG, against full books of 508 and 75.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MMLG | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 12.60% | 4.16% |
| AAPLApple, Inc | 7.29% | 4.14% | 3.15% |
| MSFTMicrosoft Corp | 5.76% | 4.69% | 1.07% |
| GOOGLAlphabet Inc | 3.00% | 6.30% | 3.30% |
| AMZNAmazon.Com Inc | 3.68% | 5.49% | 1.81% |
| AVGOBroadcom Inc | 2.47% | 4.62% | 2.15% |
| METAMeta Platforms Inc | 2.42% | 4.20% | 1.78% |
| LLYEli Lilly & Co. | 1.39% | 1.70% | 0.31% |
| NFLXNetflix, Inc. | 0.43% | 2.28% | 1.85% |
| TSLATesla Inc | 1.51% | 1.14% | 0.37% |
50.1% of IVV is already inside MMLG.
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, IVV or MMLG?
IVV has an expense ratio of 0.03% while MMLG charges 0.85%. IVV is the cheaper option, by $82 a year on a $10,000 investment.
Which is riskier, IVV or MMLG?
MMLG has been the more volatile fund at 21.3% annualized versus 15.8% for IVV. Worst drawdown: IVV -24.5% vs MMLG -46.0%.
Should I hold both IVV and MMLG?
IVV and MMLG have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and MMLG?
At least 50.1% of IVV's money is in holdings MMLG also owns. Our book for MMLG is partial, so the real figure is this or higher. They hold 57 positions in common, counted across the 506 positions we hold weights for in IVV and 76 in MMLG.
Which pays a higher dividend, IVV or MMLG?
IVV yields 1.10% while MMLG yields 0.00%, so IVV currently pays the higher dividend yield.
Is MMLG better than IVV?
IVV has a lower expense ratio. IVV led over the full window, MMLG over 1Y. The two have moved almost in lockstep, correlation 0.90. Which one suits a particular account depends on what it is for. This is information, not a recommendation.