DFNV vs. VOO

Last updated Jun 23, 2026

DFNV (TrimTabs Donoghue Forlines Risk Managed Innovation ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DFNV is a Technology Equities fund tracking the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, DFNV returned 7.43%/yr vs 13.58%/yr for VOO. Their correlation of 0.84 suggests significant overlap in exposure. DFNV charges 0.69%/yr vs 0.03%/yr for VOO.

Performance

DFNV vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) 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, DFNV achieves a -4.61% return, which is significantly lower than VOO's 9.75% return.

DFNV

• 1D: -1.41%
• 1M: -4.37%
• YTD: -4.61%
• 6M: -6.55%
• 1Y: 0.59%
• 3Y*: 15.78%
• 5Y*: 7.43%
• 10Y*: —

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

DFNV vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	-4.61%	8.42%	31.93%	26.92%	-24.05%	18.51%	3.29%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	1.74%

Correlation

The correlation between DFNV and VOO is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 8, 2020	0.84

The correlation between DFNV and VOO shifts across timeframes, from 0.71 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

DFNV vs. VOO - Sectors Allocation Comparison

Sectors	DFNV	VOO
Technology	60.9%	39.1%
Healthcare	16.2%	8.3%
Communication Services	12.0%	10.5%
Consumer Cyclical	9.0%	9.8%
Industrials	1.9%	7.6%
Basic Materials	-	1.7%
Consumer Defensive	-	4.5%
Energy	-	3.2%
Financial Services	-	10.9%
Real Estate	-	1.8%
Utilities	-	2.5%

Return for Risk

DFNV vs. VOO — Risk / Return Rank

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

DFNV

DFNV Risk / Return Rank: 9
DFNV Sharpe Ratio Rank: 9
DFNV Sortino Ratio Rank: 9
DFNV Omega Ratio Rank: 8
DFNV Calmar Ratio Rank: 9
DFNV Martin Ratio Rank: 9

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

DFNV vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) 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.

	DFNV	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.03	2.17	-2.14
Sortino ratio: Return per unit of downside risk	0.17	2.93	-2.76
Omega ratio: Gain probability vs. loss probability	1.02	1.39	-0.37
Calmar ratio: Return relative to maximum drawdown	0.03	3.02	-2.99
Martin ratio: Return relative to average drawdown	0.06	13.58	-13.52

DFNV vs. VOO - Sharpe Ratio Comparison

The current DFNV Sharpe Ratio is 0.03, which is lower than the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DFNV 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

DFNV vs. VOO - Drawdown Comparison

The maximum DFNV drawdown since its inception was -29.71%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DFNV and VOO.

Drawdown Indicators

	DFNV	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-29.71%	-33.99%	+4.28%
Max Drawdown (1Y) Largest decline over 1 year	-21.54%	-8.90%	-12.64%
Max Drawdown (3Y) Largest decline over 3 years	-22.72%	-18.69%	-4.03%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-24.52%	-5.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-11.00%	-1.74%	-9.26%
Average Drawdown Average peak-to-trough decline	-9.45%	-3.68%	-5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.10%	1.98%	+7.12%

Volatility

DFNV vs. VOO - Volatility Comparison

TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) has a higher volatility of 7.73% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that DFNV'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

	DFNV	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	4.60%	+3.13%
Volatility (6M) Calculated over the trailing 6-month period	15.34%	9.73%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	12.39%	+5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	16.90%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	18.05%	+1.69%

DFNV vs. VOO - Expense Ratio Comparison

DFNV has a 0.69% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

DFNV vs. VOO - Dividend Comparison

DFNV's dividend yield for the trailing twelve months is around 0.39%, less than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	0.39%	0.38%	1.28%	0.77%	1.20%	4.77%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.04%	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 DFNV and VOO in my portfolio?

DFNV and VOO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFNV or VOO?

DFNV has higher volatility (7.73%) compared to VOO (4.60%). In terms of maximum drawdown, DFNV dropped -29.71% vs VOO's -33.99%.

Which ETF is better, DFNV or VOO?

On 5-year performance, VOO leads with 13.58% vs 7.43% for DFNV. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFNV or VOO?

Over the 5-year period, VOO has performed better with a 13.58% return vs 7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFNV or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.69% for DFNV.

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

VOO has the higher dividend yield at 1.04%, compared with 0.39% for DFNV.

What is the main difference between DFNV and VOO?

DFNV is categorized as Technology Equities, while VOO is S&P 500. DFNV tracks TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index, while VOO tracks S&P 500 Index. They also come from different issuers: TrimTabs and Vanguard. Their fees differ too: 0.69% for DFNV and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 0.03), 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.