CRBN vs. VOO

Last updated Jun 4, 2026

CRBN (iShares MSCI ACWI Low Carbon Target ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - CRBN is a Large Cap Growth Equities fund tracking the MSCI ACWI Low Carbon Target Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CRBN returned 12.79%/yr vs 15.56%/yr for VOO. Their correlation of 0.92 suggests significant overlap in exposure. CRBN charges 0.20%/yr vs 0.03%/yr for VOO.

Performance

CRBN vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI Low Carbon Target ETF (CRBN) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CRBN having a 10.92% return and VOO slightly lower at 10.91%. Over the past 10 years, CRBN has underperformed VOO with an annualized return of 12.79%, while VOO has yielded a comparatively higher 15.56% annualized return.

CRBN

• 1D: -0.82%
• 1M: 4.91%
• YTD: 10.92%
• 6M: 11.82%
• 1Y: 27.48%
• 3Y*: 21.19%
• 5Y*: 11.10%
• 10Y*: 12.79%

VOO

• 1D: -0.70%
• 1M: 5.04%
• YTD: 10.91%
• 6M: 10.93%
• 1Y: 28.04%
• 3Y*: 22.44%
• 5Y*: 13.90%
• 10Y*: 15.56%

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

CRBN vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CRBN iShares MSCI ACWI Low Carbon Target ETF	10.92%	21.85%	19.29%	22.31%	-19.12%	18.82%	16.83%	28.65%	-9.80%	23.49%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between CRBN and VOO is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 16, 2014	0.92

The correlation between CRBN and VOO has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

CRBN vs. VOO - Sectors Allocation Comparison

Sectors	CRBN	VOO
Technology	32.3%	35.7%
Financial Services	18.3%	11.6%
Communication Services	9.6%	11.3%
Industrials	9.4%	8.3%
Healthcare	8.1%	8.5%
Consumer Cyclical	7.7%	10.2%
Consumer Defensive	4.4%	4.9%
Real Estate	2.9%	1.9%
Basic Materials	2.5%	1.8%
Energy	2.2%	3.5%
Utilities	2.2%	2.4%

Return for Risk

CRBN vs. VOO — Risk / Return Rank

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

CRBN

CRBN Risk / Return Rank: 61
CRBN Sharpe Ratio Rank: 62
CRBN Sortino Ratio Rank: 62
CRBN Omega Ratio Rank: 61
CRBN Calmar Ratio Rank: 55
CRBN Martin Ratio Rank: 66

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

CRBN vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI Low Carbon Target ETF (CRBN) 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.

	CRBN	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.39	-0.27
Sortino ratio: Return per unit of downside risk	2.94	3.25	-0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.43	-0.06
Calmar ratio: Return relative to maximum drawdown	2.74	3.16	-0.43
Martin ratio: Return relative to average drawdown	12.10	14.73	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRBN vs. VOO - Sharpe Ratio Comparison

The current CRBN Sharpe Ratio is 2.12, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of CRBN 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.

Sharpe Ratios by Period

	CRBN	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.39	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.83	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.87	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.89	-0.19

Drawdowns

CRBN vs. VOO - Drawdown Comparison

The maximum CRBN drawdown since its inception was -33.13%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CRBN and VOO.

Drawdown Indicators

	CRBN	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.13%	-33.99%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-8.90%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-16.60%	-18.69%	+2.09%
Max Drawdown (5Y) Largest decline over 5 years	-27.04%	-24.52%	-2.52%
Max Drawdown (10Y) Largest decline over 10 years	-33.13%	-33.99%	+0.86%
Current Drawdown Current decline from peak	-0.82%	-0.70%	-0.12%
Average Drawdown Average peak-to-trough decline	-5.20%	-3.69%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	1.91%	+0.37%

Volatility

CRBN vs. VOO - Volatility Comparison

iShares MSCI ACWI Low Carbon Target ETF (CRBN) has a higher volatility of 3.72% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that CRBN's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRBN	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	2.84%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	8.90%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	11.80%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	16.81%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	18.01%	-1.11%

CRBN vs. VOO - Expense Ratio Comparison

CRBN has a 0.20% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CRBN vs. VOO - Dividend Comparison

CRBN's dividend yield for the trailing twelve months is around 1.99%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRBN iShares MSCI ACWI Low Carbon Target ETF	1.99%	2.21%	1.94%	2.01%	1.95%	1.57%	1.41%	2.27%	2.51%	2.05%	2.27%	2.01%
VOO Vanguard S&P 500 ETF	1.03%	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 CRBN and VOO in my portfolio?

With a correlation of 0.96, CRBN 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, CRBN or VOO?

CRBN has higher volatility (3.72%) compared to VOO (2.84%). In terms of maximum drawdown, CRBN dropped -33.13% vs VOO's -33.99%.

Which ETF is better, CRBN or VOO?

On 10-year performance, VOO leads with 15.56% vs 12.79% for CRBN. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRBN or VOO?

Over the 10-year period, VOO has performed better with a 15.56% return vs 12.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRBN or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.20% for CRBN.

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

CRBN has the higher dividend yield at 1.99%, compared with 1.03% for VOO.

What is the main difference between CRBN and VOO?

CRBN is categorized as Large Cap Growth Equities, while VOO is S&P 500. CRBN tracks MSCI ACWI Low Carbon Target Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for CRBN and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.39 vs 2.12), 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.