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IVE vs. MINT: What’s The Difference?

The iShares S&P 500 Value ETF (IVE) and the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) are both among the Top 100 ETFs. IVE is a iShares Large Value fund and MINT is a PIMCO Ultrashort Bond fund. So, what’s the difference between IVE and MINT? And which fund is better?

The expense ratio of IVE is 0.18 percentage points lower than MINT’s (0.18% vs. 0.36%). IVE also has a high exposure to the financial services sector while MINT is mostly comprised of Others bonds. Overall, IVE has provided higher returns than MINT over the past 10 years.

In this article, we’ll compare IVE vs. MINT. We’ll look at annual returns and fund composition, as well as at their portfolio growth and risk metrics. Moreover, I’ll also discuss IVE’s and MINT’s holdings, industry exposure, and performance and examine how these affect their overall returns.

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Summary

IVEMINT
NameiShares S&P 500 Value ETFPIMCO Enhanced Short Maturity Active Exchange-Traded Fund
CategoryLarge ValueUltrashort Bond
IssueriSharesPIMCO
AUM22.4B14.02B
Avg. Return11.68%1.52%
Div. Yield1.88%0.56%
Expense Ratio0.18%0.36%

The iShares S&P 500 Value ETF (IVE) is a Large Value fund that is issued by iShares. It currently has 22.4B total assets under management and has yielded an average annual return of 11.68% over the past 10 years. The fund has a dividend yield of 1.88% with an expense ratio of 0.18%.

The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) is a Ultrashort Bond fund that is issued by PIMCO. It currently has 14.02B total assets under management and has yielded an average annual return of 1.52% over the past 10 years. The fund has a dividend yield of 0.56% with an expense ratio of 0.36%.

IVE’s dividend yield is 1.32% higher than that of MINT (1.88% vs. 0.56%). Also, IVE yielded on average 10.16% more per year over the past decade (11.68% vs. 1.52%). The expense ratio of IVE is 0.18 percentage points lower than MINT’s (0.18% vs. 0.36%).

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Fund Composition

Holdings

IVE - Holdings

IVE HoldingsWeight
Berkshire Hathaway Inc Class B3.05%
JPMorgan Chase & Co2.65%
The Walt Disney Co1.85%
Bank of America Corp1.67%
Johnson & Johnson1.57%
Exxon Mobil Corp1.41%
Pfizer Inc1.38%
Cisco Systems Inc1.35%
Verizon Communications Inc1.33%
Intel Corp1.25%

IVE’s Top Holdings are Berkshire Hathaway Inc Class B, JPMorgan Chase & Co, The Walt Disney Co, Bank of America Corp, and Johnson & Johnson at 3.05%, 2.65%, 1.85%, 1.67%, and 1.57%.

Exxon Mobil Corp (1.41%), Pfizer Inc (1.38%), and Cisco Systems Inc (1.35%) have a slightly smaller but still significant weight. Verizon Communications Inc and Intel Corp are also represented in the IVE’s holdings at 1.33% and 1.25%.

MINT - Holdings

MINT Bond SectorsWeight
Others0.0%
Below B0.0%
B0.0%
BB0.0%
BBB0.0%
A0.0%
AA0.0%
AAA0.0%
US Government0.0%

MINT’s Top Bond Sectors are ratings of Others, Below B, B, BB, and BBB at 0.0%, 0.0%, 0.0%, 0.0%, and 0.0%. The fund is less weighted towards A (0.0%), AA (0.0%), and AAA (0.0%) rated bonds.

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Risk Analysis

IVEMINT
Mean Return1.050.12
R-squared92.084.7
Std. Deviation14.31.08
Alpha-2.90.62
Beta1.010.08
Sharpe Ratio0.830.78
Treynor Ratio11.4110.8

The iShares S&P 500 Value ETF (IVE) has a Mean Return of 1.05 with a R-squared of 92.08 and a Beta of 1.01. Its Sharpe Ratio is 0.83 while IVE’s Standard Deviation is 14.3. Furthermore, the fund has a Alpha of -2.9 and a Treynor Ratio of 11.41.

The PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT) has a Standard Deviation of 1.08 with a Beta of 0.08 and a Treynor Ratio of 10.8. Its Mean Return is 0.12 while MINT’s Sharpe Ratio is 0.78. Furthermore, the fund has a Alpha of 0.62 and a R-squared of 4.7.

IVE’s Mean Return is 0.93 points higher than that of MINT and its R-squared is 87.38 points higher. With a Standard Deviation of 14.3, IVE is slightly more volatile than MINT. The Alpha and Beta of IVE are 3.52 points lower and 0.93 points higher than MINT’s Alpha and Beta.

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Performance

Annual Returns

IVE vs. MINT - Annual Returns

YearIVEMINT
20201.24%1.63%
201931.71%3.3%
2018-9.09%1.72%
201715.19%1.9%
201617.17%1.99%
2015-3.24%0.52%
201412.14%0.53%
201331.69%0.72%
201217.45%2.48%
2011-0.63%0.42%
201014.9%1.72%

IVE had its best year in 2019 with an annual return of 31.71%. IVE’s worst year over the past decade yielded -9.09% and occurred in 2018. In most years the iShares S&P 500 Value ETF provided moderate returns such as in 2014, 2010, and 2017 where annual returns amounted to 12.14%, 14.9%, and 15.19% respectively.

The year 2019 was the strongest year for MINT, returning 3.3% on an annual basis. The poorest year for MINT in the last ten years was 2011, with a yield of 0.42%. Most years the PIMCO Enhanced Short Maturity Active Exchange-Traded Fund has given investors modest returns, such as in 2020, 2018, and 2010, when gains were 1.63%, 1.72%, and 1.72% respectively.

Portfolio Growth

IVE vs. MINT - Portfolio Growth

FundInitial BalanceFinal BalanceCAGR
IVE$10,000$27,28511.68%
MINT$10,000$11,6241.52%

A $10,000 investment in IVE would have resulted in a final balance of $27,285. This is a profit of $17,285 over 10 years and amounts to a compound annual growth rate (CAGR) of 11.68%.

With a $10,000 investment in MINT, the end total would have been $11,624. This equates to a $1,624 profit over 10 years and a compound annual growth rate (CAGR) of 1.52%.

IVE’s CAGR is 10.16 percentage points higher than that of MINT and as a result, would have yielded $15,661 more on a $10,000 investment. Thus, IVE outperformed MINT by 10.16% annually.


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