CGBL vs. VOO

Last updated Jul 18, 2026

CGBL (Capital Group Core Balanced ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - CGBL is a Allocation--50% to 70% Equity fund actively managed by Capital Group, while VOO is a S&P 500 fund tracking the S&P 500 Index. CGBL is actively managed, while VOO is passively managed. Over the past year, CGBL returned 12.52% vs 19.76% for VOO. Their correlation of 0.92 suggests significant overlap in exposure. CGBL charges 0.33%/yr vs 0.03%/yr for VOO.

Performance

CGBL vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Balanced ETF (CGBL) 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, CGBL achieves a 6.15% return, which is significantly lower than VOO's 9.60% return.

CGBL

• 1D: -0.53%
• 1M: -0.93%
• 6M: 3.34%
• YTD: 6.15%
• 1Y: 12.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: -1.01%
• 1M: 0.55%
• 6M: 8.05%
• YTD: 9.60%
• 1Y: 19.76%
• 3Y*: 19.41%
• 5Y*: 13.08%
• 10Y*: 15.05%

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

CGBL vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGBL Capital Group Core Balanced ETF	6.15%	15.33%	16.64%	10.10%
VOO Vanguard S&P 500 ETF	9.60%	17.82%	24.98%	12.07%

Correlation

The correlation between CGBL and VOO is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023	0.92

The correlation between CGBL and VOO has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

CGBL vs. VOO — Risk / Return Rank

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

CGBL

CGBL Risk / Return Rank: 43
CGBL Sharpe Ratio Rank: 42
CGBL Sortino Ratio Rank: 42
CGBL Omega Ratio Rank: 41
CGBL Calmar Ratio Rank: 38
CGBL Martin Ratio Rank: 51

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 58
VOO Sortino Ratio Rank: 57
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 55
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.

CGBL vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Core Balanced ETF (CGBL) 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.

	CGBL	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.58	-0.36
Sortino ratio: Return per unit of downside risk	1.79	2.20	-0.41
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.60	2.23	-0.64
Martin ratio: Return relative to average drawdown	6.86	9.71	-2.85

CGBL vs. VOO - Sharpe Ratio Comparison

The current CGBL Sharpe Ratio is 1.22, which is comparable to the VOO Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of CGBL 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

CGBL vs. VOO - Drawdown Comparison

The maximum CGBL drawdown since its inception was -11.66%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CGBL and VOO.

Drawdown Indicators

	CGBL	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-11.66%	-33.99%	+22.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-8.90%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-2.05%	-1.88%	-0.17%
Average Drawdown Average peak-to-trough decline	-1.28%	-3.67%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.04%	-0.21%

Volatility

CGBL vs. VOO - Volatility Comparison

The current volatility for Capital Group Core Balanced ETF (CGBL) is 2.83%, while Vanguard S&P 500 ETF (VOO) has a volatility of 3.58%. This indicates that CGBL 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

	CGBL	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.58%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	10.02%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	12.56%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	16.92%	-5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.12%	17.99%	-6.87%

CGBL vs. VOO - Expense Ratio Comparison

CGBL has a 0.33% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

CGBL vs. VOO - Dividend Comparison

CGBL's dividend yield for the trailing twelve months is around 1.88%, more than VOO's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGBL Capital Group Core Balanced ETF	1.88%	1.98%	1.92%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.08%	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 CGBL and VOO in my portfolio?

With a correlation of 0.91, CGBL 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, CGBL or VOO?

VOO has higher volatility (3.58%) compared to CGBL (2.83%). In terms of maximum drawdown, CGBL dropped -11.66% vs VOO's -33.99%.

Which ETF is better, CGBL or VOO?

On 1-year performance, VOO leads with 19.76% vs 12.52% for CGBL. On fees, VOO is cheaper at 0.03% per year. On volatility, CGBL has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGBL or VOO?

Over the 1-year period, VOO has performed better with a 19.76% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGBL or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.33% for CGBL.

Which ETF pays a higher dividend yield, CGBL or VOO?

CGBL has the higher dividend yield at 1.88%, compared with 1.08% for VOO.

What is the main difference between CGBL and VOO?

CGBL is categorized as Allocation--50% to 70% Equity, while VOO is S&P 500. They also come from different issuers: Capital Group and Vanguard. Their fees differ too: 0.33% for CGBL and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.58 vs 1.22), 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.