AUIAX vs. VOO

Last updated Jun 25, 2026

AUIAX (AB Equity Income Fund) and VOO (Vanguard S&P 500 ETF) are both funds - AUIAX is a Large Cap Value Equities fund managed by AllianceBernstein, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, AUIAX returned 12.68%/yr vs 15.60%/yr for VOO. Their correlation of 0.95 suggests significant overlap in exposure. AUIAX charges 0.97%/yr vs 0.03%/yr for VOO.

Performance

AUIAX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Equity Income Fund (AUIAX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUIAX achieves a 12.62% return, which is significantly higher than VOO's 8.08% return. Over the past 10 years, AUIAX has underperformed VOO with an annualized return of 12.68%, while VOO has yielded a comparatively higher 15.60% annualized return.

AUIAX

• 1D: -1.25%
• 1M: 1.83%
• YTD: 12.62%
• 6M: 11.20%
• 1Y: 25.80%
• 3Y*: 20.20%
• 5Y*: 13.38%
• 10Y*: 12.68%

VOO

• 1D: -0.10%
• 1M: -1.44%
• YTD: 8.08%
• 6M: 6.78%
• 1Y: 22.23%
• 3Y*: 20.75%
• 5Y*: 13.02%
• 10Y*: 15.60%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUIAX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUIAX AB Equity Income Fund	12.62%	17.97%	17.48%	22.48%	-10.26%	25.25%	4.18%	24.59%	-6.82%	16.34%
VOO Vanguard S&P 500 ETF	8.08%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between AUIAX and VOO is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.95

The correlation between AUIAX and VOO has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

AUIAX vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUIAX

AUIAX Risk / Return Rank: 78
AUIAX Sharpe Ratio Rank: 78
AUIAX Sortino Ratio Rank: 76
AUIAX Omega Ratio Rank: 70
AUIAX Calmar Ratio Rank: 80
AUIAX Martin Ratio Rank: 85

VOO

VOO Risk / Return Rank: 60
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 57
VOO Omega Ratio Rank: 59
VOO Calmar Ratio Rank: 57
VOO Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUIAX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Equity Income Fund (AUIAX) and Vanguard S&P 500 ETF (VOO). 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.

	AUIAX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.80	+0.53
Sortino ratio: Return per unit of downside risk	3.26	2.46	+0.80
Omega ratio: Gain probability vs. loss probability	1.41	1.33	+0.09
Calmar ratio: Return relative to maximum drawdown	3.34	2.51	+0.83
Martin ratio: Return relative to average drawdown	14.25	11.16	+3.09

AUIAX vs. VOO - Sharpe Ratio Comparison

The current AUIAX Sharpe Ratio is 2.33, which is comparable to the VOO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of AUIAX and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AUIAX vs. VOO - Drawdown Comparison

The maximum AUIAX drawdown since its inception was -46.97%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for AUIAX and VOO.

Drawdown Indicators

	AUIAX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-46.97%	-33.99%	-12.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.90%	+0.76%
Max Drawdown (3Y) Largest decline over 3 years	-20.88%	-18.69%	-2.19%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-24.52%	+3.64%
Max Drawdown (10Y) Largest decline over 10 years	-35.81%	-33.99%	-1.82%
Current Drawdown Current decline from peak	-1.57%	-3.23%	+1.66%
Average Drawdown Average peak-to-trough decline	-7.93%	-3.68%	-4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.00%	-0.10%

Volatility

AUIAX vs. VOO - Volatility Comparison

The current volatility for AB Equity Income Fund (AUIAX) is 4.07%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.80%. This indicates that AUIAX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUIAX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	4.80%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	9.79%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	12.43%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	16.91%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	18.02%	-0.72%

AUIAX vs. VOO - Expense Ratio Comparison

AUIAX has a 0.97% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

AUIAX vs. VOO - Dividend Comparison

AUIAX's dividend yield for the trailing twelve months is around 7.12%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUIAX AB Equity Income Fund	7.12%	8.11%	10.53%	2.68%	7.73%	16.44%	2.65%	5.61%	13.48%	5.38%	2.85%	5.39%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both AUIAX and VOO in my portfolio?

With a correlation of 0.90, AUIAX and VOO 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.

Which is riskier, AUIAX or VOO?

VOO has higher volatility (4.80%) compared to AUIAX (4.07%). In terms of maximum drawdown, AUIAX dropped -46.97% vs VOO's -33.99%.

Which has better risk-adjusted returns?

AUIAX currently has the higher Sharpe Ratio (2.33 vs 1.80), 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.