IVV vs PWZ
iShares Core S&P 500 ETF compared with Invesco California AMT-Free Municipal Bond ETF on yield, payout growth, payment schedule, cost and risk.
IVV
iShares Core S&P 500 ETF
TTM yield · Quarterly
PWZ
Invesco California AMT-Free Municipal Bond ETF
TTM yield · Monthly
Quick take
- PWZ yields more today: 3.85% vs 1.04% (forward).
- IVV pays every quarter; PWZ pays every month.
- Over the last year IVV delivered the higher total return: +19.9% vs +5.4% (price change plus payouts).
- IVV is cheaper to own: 0.03% vs 0.28% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | IVV | PWZ |
|---|---|---|
| Share price | $769.20 | $23.47 |
| TTM yield | 1.06% | 3.85% |
| Forward yield | 1.04% | 3.85% |
| Annual payout per share | $7.984 | $0.903 |
| Payment frequency | Quarterly | Monthly |
| Next ex-date | Sep 14, 2026 (est.) | Sep 21, 2026 (est.) |
| Expense ratio | 0.03% | 0.28% |
| 1-year payout growth | +2.3% | — |
| 5-year payout CAGR | +7.7% | — |
| Consecutive years of increases | 4 years | — |
| Payout consistency (last 12) | 88/100 | 95/100 |
| 1-year total return | +19.9% | +5.4% |
| 1-year price return | +18.6% | +1.5% |
| Size (market cap / AUM) | 884.0B | 1.2B |
| Years paying | 26.2 | 18.8 |
| Sector / category | Large Blend | Muni California Long |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| IVV | PWZ | |
|---|---|---|
| Shares | 13.0 | 426.1 |
| Income per year | $104 | $385 |
| Income per month (avg) | $9 | $32 |
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| IVV Sep 14, 2026 | Sep 28, 2026 | $1.996 | Est. |
| IVV Dec 14, 2026 | Dec 28, 2026 | $1.996 | Est. |
| IVV Mar 15, 2027 | Mar 29, 2027 | $1.996 | Est. |
| PWZ Sep 21, 2026 | Oct 5, 2026 | $0.0752 | Est. |
| PWZ Oct 19, 2026 | Nov 2, 2026 | $0.0752 | Est. |
| PWZ Nov 16, 2026 | Nov 30, 2026 | $0.0752 | Est. |
Annual payouts per share
IVVPWZ
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, IVV or PWZ?
PWZ currently has the higher trailing yield: IVV yields 1.06% and PWZ yields 3.85%. Yield changes daily with price, so check the live figures above.
How often do IVV and PWZ pay?
IVV pays every quarter and PWZ pays every month. IVV's next ex-date is Sep 14, 2026 and PWZ's is Sep 21, 2026.
Is IVV or PWZ better for income?
It depends on what you are optimising for. IVV and PWZ differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.