CFAGX vs. VOO

Last updated Jun 24, 2026

CFAGX (Commerce MidCap Growth Fund) and VOO (Vanguard S&P 500 ETF) are both funds - CFAGX is a Mid Cap Growth Equities fund managed by Commerce, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, CFAGX returned 10.68%/yr vs 15.61%/yr for VOO. Their correlation of 0.90 suggests significant overlap in exposure. CFAGX charges 0.71%/yr vs 0.03%/yr for VOO.

Performance

CFAGX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commerce MidCap Growth Fund (CFAGX) 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, CFAGX achieves a 3.91% return, which is significantly lower than VOO's 8.19% return. Over the past 10 years, CFAGX has underperformed VOO with an annualized return of 10.68%, while VOO has yielded a comparatively higher 15.61% annualized return.

CFAGX

• 1D: 0.24%
• 1M: 0.89%
• YTD: 3.91%
• 6M: 1.99%
• 1Y: 2.14%
• 3Y*: 9.64%
• 5Y*: 3.88%
• 10Y*: 10.68%

VOO

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.19%
• 6M: 7.24%
• 1Y: 23.69%
• 3Y*: 20.78%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

CFAGX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFAGX Commerce MidCap Growth Fund	3.91%	1.58%	11.77%	17.74%	-20.31%	19.12%	23.78%	34.41%	-4.55%	23.39%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between CFAGX and VOO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.90

The correlation between CFAGX and VOO shifts across timeframes, from 0.77 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CFAGX vs. VOO — Risk / Return Rank

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

CFAGX

CFAGX Risk / Return Rank: 4
CFAGX Sharpe Ratio Rank: 4
CFAGX Sortino Ratio Rank: 4
CFAGX Omega Ratio Rank: 4
CFAGX Calmar Ratio Rank: 4
CFAGX Martin Ratio Rank: 4

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 56
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 56
VOO Martin Ratio Rank: 67

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.

CFAGX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commerce MidCap Growth Fund (CFAGX) 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.

	CFAGX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.91	-1.69
Sortino ratio: Return per unit of downside risk	0.42	2.60	-2.18
Omega ratio: Gain probability vs. loss probability	1.05	1.35	-0.30
Calmar ratio: Return relative to maximum drawdown	0.25	2.67	-2.42
Martin ratio: Return relative to average drawdown	0.66	11.96	-11.30

CFAGX vs. VOO - Sharpe Ratio Comparison

The current CFAGX Sharpe Ratio is 0.22, which is lower than the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of CFAGX 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

CFAGX vs. VOO - Drawdown Comparison

The maximum CFAGX drawdown since its inception was -61.05%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CFAGX and VOO.

Drawdown Indicators

	CFAGX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-61.05%	-33.99%	-27.06%
Max Drawdown (1Y) Largest decline over 1 year	-12.87%	-8.90%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-21.16%	-18.69%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-28.99%	-24.52%	-4.47%
Max Drawdown (10Y) Largest decline over 10 years	-34.23%	-33.99%	-0.24%
Current Drawdown Current decline from peak	-2.76%	-3.14%	+0.38%
Average Drawdown Average peak-to-trough decline	-14.88%	-3.68%	-11.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.89%	1.99%	+2.90%

Volatility

CFAGX vs. VOO - Volatility Comparison

Commerce MidCap Growth Fund (CFAGX) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.71% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFAGX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	4.83%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	9.82%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	12.46%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.46%	16.91%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.50%	18.02%	+0.48%

CFAGX vs. VOO - Expense Ratio Comparison

CFAGX has a 0.71% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

CFAGX vs. VOO - Dividend Comparison

CFAGX's dividend yield for the trailing twelve months is around 23.95%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFAGX Commerce MidCap Growth Fund	23.95%	24.89%	10.80%	6.77%	2.00%	19.35%	4.23%	6.59%	10.81%	7.05%	5.27%	8.83%
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 CFAGX and VOO in my portfolio?

CFAGX and VOO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CFAGX or VOO?

VOO has higher volatility (4.83%) compared to CFAGX (4.71%). In terms of maximum drawdown, CFAGX dropped -61.05% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.91 vs 0.22), 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.