FMTIX vs. IVV
FMTIX (Franklin Moderate Allocation Fund) and IVV (iShares Core S&P 500 ETF) are both funds - FMTIX is a Diversified Portfolio fund managed by Franklin Templeton, while IVV is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FMTIX returned 8.35%/yr vs 15.58%/yr for IVV. Their correlation of 0.89 suggests significant overlap in exposure. FMTIX charges 0.63%/yr vs 0.03%/yr for IVV.
Performance
FMTIX vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, FMTIX achieves a 7.13% return, which is significantly lower than IVV's 8.20% return. Over the past 10 years, FMTIX has underperformed IVV with an annualized return of 8.35%, while IVV has yielded a comparatively higher 15.58% annualized return.
FMTIX
- 1D
- -0.23%
- 1M
- 1.08%
- YTD
- 7.13%
- 6M
- 6.70%
- 1Y
- 17.82%
- 3Y*
- 13.80%
- 5Y*
- 6.83%
- 10Y*
- 8.35%
IVV
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.20%
- 6M
- 7.25%
- 1Y
- 23.72%
- 3Y*
- 20.79%
- 5Y*
- 13.13%
- 10Y*
- 15.58%
FMTIX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMTIX Franklin Moderate Allocation Fund | 7.13% | 15.05% | 11.80% | 14.38% | -16.11% | 12.37% | 12.36% | 17.38% | -4.81% | 13.50% |
IVV iShares Core S&P 500 ETF | 8.20% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between FMTIX and IVV is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since May 19, 2000 | 0.89 |
The correlation between FMTIX and IVV has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
FMTIX vs. IVV — Risk / Return Rank
FMTIX
IVV
FMTIX vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Moderate Allocation Fund (FMTIX) and iShares Core S&P 500 ETF (IVV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FMTIX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.68 | +0.11 |
| Martin ratioReturn relative to average drawdown | 12.45 | 11.98 | +0.47 |
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Drawdowns
FMTIX vs. IVV - Drawdown Comparison
The maximum FMTIX drawdown since its inception was -32.01%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for FMTIX and IVV.
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Drawdown Indicators
| FMTIX | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.01% | -55.25% | +23.24% |
Max Drawdown (1Y)Largest decline over 1 year | -6.66% | -8.89% | +2.23% |
Max Drawdown (3Y)Largest decline over 3 years | -10.81% | -18.75% | +7.94% |
Max Drawdown (5Y)Largest decline over 5 years | -29.19% | -24.53% | -4.66% |
Max Drawdown (10Y)Largest decline over 10 years | -29.19% | -33.90% | +4.71% |
Current DrawdownCurrent decline from peak | -0.45% | -3.14% | +2.69% |
Average DrawdownAverage peak-to-trough decline | -6.40% | -10.76% | +4.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 1.99% | -0.50% |
Volatility
FMTIX vs. IVV - Volatility Comparison
The current volatility for Franklin Moderate Allocation Fund (FMTIX) is 3.37%, while iShares Core S&P 500 ETF (IVV) has a volatility of 4.88%. This indicates that FMTIX experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMTIX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 4.88% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.24% | 9.85% | -2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.68% | 12.48% | -3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.40% | 16.98% | -4.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.16% | 18.07% | -6.91% |
FMTIX vs. IVV - Expense Ratio Comparison
FMTIX has a 0.63% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
FMTIX vs. IVV - Dividend Comparison
FMTIX's dividend yield for the trailing twelve months is around 5.05%, more than IVV's 1.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMTIX Franklin Moderate Allocation Fund | 5.05% | 8.79% | 2.24% | 2.61% | 4.25% | 12.93% | 4.35% | 9.38% | 9.15% | 4.65% | 2.24% | 5.42% |
IVV iShares Core S&P 500 ETF | 1.11% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
With a correlation of 0.95, FMTIX and IVV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IVV has higher volatility (4.88%) compared to FMTIX (3.37%). In terms of maximum drawdown, FMTIX dropped -32.01% vs IVV's -55.25%.
FMTIX currently has the higher Sharpe Ratio (2.15 vs 1.91), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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