IVVM vs. IVVW
IVVM (iShares Large Cap Moderate Buffer ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both exchange-traded funds - IVVM is a Options Trading fund actively managed by iShares, while IVVW is a Derivative Income fund tracking the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index. IVVM is actively managed, while IVVW is passively managed. Over the past year, IVVM returned 15.78% vs 19.41% for IVVW. Their correlation of 0.85 suggests significant overlap in exposure. IVVM charges 0.50%/yr vs 0.25%/yr for IVVW.
Performance
IVVM vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, IVVM achieves a 6.01% return, which is significantly higher than IVVW's 5.32% return.
IVVM
- 1D
- -0.10%
- 1M
- 0.38%
- YTD
- 6.01%
- 6M
- 5.79%
- 1Y
- 15.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- 0.02%
- 1M
- 1.42%
- YTD
- 5.32%
- 6M
- 5.55%
- 1Y
- 19.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVM vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IVVM iShares Large Cap Moderate Buffer ETF | 6.01% | 14.24% | 11.21% |
IVVW iShares S&P 500 BuyWrite ETF | 5.32% | 11.71% | 12.76% |
Correlation
The correlation between IVVM and IVVW is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.85 |
The correlation between IVVM and IVVW has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.
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Return for Risk
IVVM vs. IVVW — Risk / Return Rank
IVVM
IVVW
IVVM vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Moderate Buffer ETF (IVVM) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| IVVM | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.54 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 3.35 | -0.37 |
| Martin ratioReturn relative to average drawdown | 14.72 | 17.98 | -3.26 |
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Drawdowns
IVVM vs. IVVW - Drawdown Comparison
The maximum IVVM drawdown since its inception was -11.62%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for IVVM and IVVW.
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Drawdown Indicators
| IVVM | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -16.79% | +5.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.31% | -5.81% | +0.50% |
Current DrawdownCurrent decline from peak | -0.16% | -0.13% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -1.73% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 1.08% | -0.01% |
Volatility
IVVM vs. IVVW - Volatility Comparison
The current volatility for iShares Large Cap Moderate Buffer ETF (IVVM) is 1.77%, while iShares S&P 500 BuyWrite ETF (IVVW) has a volatility of 3.18%. This indicates that IVVM experiences smaller price fluctuations and is considered to be less risky than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVVM | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 3.18% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 5.73% | 6.79% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.19% | 7.96% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.59% | 12.68% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.59% | 12.68% | -3.09% |
IVVM vs. IVVW - Expense Ratio Comparison
IVVM has a 0.50% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
IVVM vs. IVVW - Dividend Comparison
IVVM's dividend yield for the trailing twelve months is around 0.64%, less than IVVW's 19.62% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVM iShares Large Cap Moderate Buffer ETF | 0.64% | 0.68% | 0.62% |
IVVW iShares S&P 500 BuyWrite ETF | 19.62% | 18.55% | 13.72% |
Frequently Asked Questions
IVVM and IVVW have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVW has higher volatility (3.18%) compared to IVVM (1.77%). In terms of maximum drawdown, IVVM dropped -11.62% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 19.41% vs 15.78% for IVVM. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVM has been the lower-risk option at 1.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 19.41% return vs 15.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.50% for IVVM.
IVVW has the higher dividend yield at 19.62%, compared with 0.64% for IVVM.
IVVM is categorized as Options Trading, while IVVW is Derivative Income. Their fees differ too: 0.50% for IVVM and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.45 vs 2.21), 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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