IVV vs NMAI
iShares Core S&P 500 ETF vs Nuveen Multi-Asset Income Fund
Which is better, IVV or NMAI?
Large Cap Blend against Allocation/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 | NMAI |
|---|---|---|
| Expense Ratio | 0.03%Best | 1.87% |
| AUM | $896.5B | $495M |
| Dividend Yield | 1.10% | 9.61% |
| Holdings | 508 | 1,312 |
| YTD Return | +13.59%Best | +12.81% |
| 1Y Return | +17.54%Best | +15.33% |
| 3Y Return (annualized) | +22.46%Best | +20.25% |
| 5Y Return (annualized) | +13.28%Best | +5.50% |
| Volatility (annualized) | 15.6%Best | 18.8% |
| Max Drawdown | -24.5%Best | -35.6% |
| $10,000 over 5 years | $18,654Best | $13,070 |
| Fund Family | iShares by BlackRock (US) | Nuveen |
| Category | Equity | Allocation/Balanced |
| Style | Large Cap Blend | Allocation/Balanced |
| Inception | May 15, 2000 | Nov 22, 2021 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 22, 2021 to Oct 14, 2026 (4.9 years).
IVV vs NMAI 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 covers the 4.9 years both funds cover.
IVV vs NMAI Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Nuveen Multi-Asset Income Fund (NMAI) is an ETF from Nuveen. Over the past year IVV returned +17.54% while NMAI returned +15.33%. Year to date, IVV is up 13.59% versus a gain of 12.81% for NMAI.
Over three years, IVV compounded at +22.46% per year against +20.25% for NMAI; over five years the annualized figures are +13.28% and +5.50% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NMAI has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.6% 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 -35.6% for NMAI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while NMAI charges 1.87%. On a $10,000 position that is $3 vs $187 annually, a gap of $184 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 9.61% for NMAI.
Holdings Overlap
At least 54.8% of IVV's money is in holdings NMAI also owns.
Stated as a floor: for NMAI, our book for it covers 80.6% 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 62 days apart, IVV as of Oct 1, 2026 and NMAI as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
49 positions in common, counted across the 506 positions we hold weights for in IVV and 659 in NMAI, against full books of 508 and 1,312.
Top Shared Holdings
| Stock | Weight in IVV | Weight in NMAI | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.44% | 3.00% | 5.44% |
| AAPLApple, Inc | 7.29% | 2.29% | 5.00% |
| MSFTMicrosoft Corp | 5.76% | 2.42% | 3.34% |
| AMZNAmazon.Com Inc | 3.68% | 1.91% | 1.77% |
| AVGOBroadcom Inc | 2.47% | 1.52% | 0.95% |
| GOOGLAlphabet Inc | 3.00% | 0.88% | 2.12% |
| GOOGAlphabet Inc. C | 2.41% | 1.19% | 1.22% |
| METAMeta Platforms Inc | 2.42% | 0.45% | 1.97% |
| JPMJpmorgan Chase | 1.34% | 1.45% | 0.11% |
| MUMicron Technology, Inc. | 1.87% | 0.78% | 1.09% |
54.8% of IVV is already inside NMAI.
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 NMAI?
IVV has an expense ratio of 0.03% while NMAI charges 1.87%. IVV is the cheaper option, by $184 a year on a $10,000 investment.
Which performed better, IVV or NMAI?
Over the past year IVV returned +17.54% vs +15.33% for NMAI, so IVV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or NMAI?
NMAI has been the more volatile fund at 18.8% annualized versus 15.6% for IVV. Worst drawdown: IVV -24.5% vs NMAI -35.6%.
Should I hold both IVV and NMAI?
IVV and NMAI have a monthly-return correlation of 0.84, 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 NMAI?
At least 54.8% of IVV's money is in holdings NMAI also owns. Our book for NMAI is partial, so the real figure is this or higher. They hold 49 positions in common, counted across the 506 positions we hold weights for in IVV and 659 in NMAI.
Which pays a higher dividend, IVV or NMAI?
IVV yields 1.10% while NMAI yields 9.61%, so NMAI currently pays the higher dividend yield.
Is NMAI 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.