FLV vs. VOO

Last updated Aug 2, 2026

FLV (American Century Focused Large Cap Value ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FLV is a Large Cap Value Equities fund actively managed by American Century, while VOO is a S&P 500 fund tracking the S&P 500 Index. FLV is actively managed, while VOO is passively managed. Over the past 5 years, FLV returned 10.28%/yr vs 12.83%/yr for VOO. Their 0.70 correlation means they have sometimes moved together and sometimes differently. FLV charges 0.42%/yr vs 0.03%/yr for VOO.

Performance

FLV vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused Large Cap Value ETF (FLV) 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, FLV achieves a 14.23% return, which is significantly higher than VOO's 10.16% return.

FLV

• 1D: 0.83%
• 1M: 3.17%
• 6M: 9.34%
• YTD: 14.23%
• 1Y: 23.23%
• 3Y*: 14.69%
• 5Y*: 10.28%
• 10Y*: —
• ALL TIME*: 16.67%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLV American Century Focused Large Cap Value ETF	$484.68K	$489.80K	$1.09M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FLV vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLV American Century Focused Large Cap Value ETF	14.23%	15.80%	11.51%	6.23%	0.94%	17.30%	43.00%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	54.04%

Correlation

The correlation between FLV and VOO is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.53
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (All Time) Calculated using the full available price history since Apr 2, 2020	0.70

Over the past year, the correlation between FLV and VOO has dropped to 0.46 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

FLV vs. VOO - Sectors Allocation Comparison

Sectors	FLV	VOO
Financial Services	22.7%	11.4%
Healthcare	16.8%	8.9%
Consumer Defensive	12.4%	4.5%
Industrials	12.0%	8.5%
Technology	12.0%	38.6%
Energy	8.0%	3.0%
Consumer Cyclical	6.7%	9.5%
Utilities	5.2%	2.2%
Basic Materials	3.1%	1.7%
Real Estate	1.8%	1.8%
Communication Services	1.1%	9.9%

Return for Risk

FLV vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLV

FLV Risk / Return Rank: 85
FLV Sharpe Ratio Rank: 89
FLV Sortino Ratio Rank: 91
FLV Omega Ratio Rank: 88
FLV Calmar Ratio Rank: 82
FLV Martin Ratio Rank: 76

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLV vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused Large Cap Value ETF (FLV) 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.

	FLV	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.53	+0.67
Sortino ratio: Return per unit of downside risk	3.27	2.13	+1.14
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.12
Calmar ratio: Return relative to maximum drawdown	3.01	2.21	+0.80
Martin ratio: Return relative to average drawdown	9.57	9.44	+0.13

FLV vs. VOO - Sharpe Ratio Comparison

The current FLV Sharpe Ratio is 2.20, which is higher than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FLV 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

FLV vs. VOO - Drawdown Comparison

The maximum FLV drawdown since its inception was -15.06%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FLV and VOO.

Drawdown Indicators

	FLV	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-15.06%	-33.99%	+18.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-8.90%	+1.37%
Max Drawdown (3Y) Largest decline over 3 years	-12.42%	-18.69%	+6.27%
Max Drawdown (5Y) Largest decline over 5 years	-15.06%	-24.52%	+9.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.34%	-1.38%	+1.04%
Average Drawdown Average peak-to-trough decline	-2.68%	-3.67%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.08%	+0.28%

Volatility

FLV vs. VOO - Volatility Comparison

American Century Focused Large Cap Value ETF (FLV) has a higher volatility of 3.77% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that FLV'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

	FLV	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	3.54%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	10.10%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	12.82%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.72%	16.93%	-4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.23%	18.01%	-3.78%

FLV vs. VOO - Expense Ratio Comparison

FLV has a 0.42% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

FLV vs. VOO - Dividend Comparison

FLV's dividend yield for the trailing twelve months is around 1.51%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLV American Century Focused Large Cap Value ETF	1.51%	1.90%	2.07%	2.07%	4.98%	4.05%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	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 FLV and VOO in my portfolio?

FLV and VOO have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLV or VOO?

FLV has higher volatility (3.77%) compared to VOO (3.54%). In terms of maximum drawdown, FLV dropped -15.06% vs VOO's -33.99%.

Which ETF is better, FLV or VOO?

On 5-year performance, VOO leads with 12.83% vs 10.28% for FLV. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLV or VOO?

Over the 5-year period, VOO has performed better with a 12.83% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLV or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.42% for FLV.

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

FLV has the higher dividend yield at 1.51%, compared with 1.07% for VOO.

What is the main difference between FLV and VOO?

FLV is categorized as Large Cap Value Equities, while VOO is S&P 500. They also come from different issuers: American Century and Vanguard. Their fees differ too: 0.42% for FLV and 0.03% for VOO.

Which has better risk-adjusted returns?

FLV currently has the higher Sharpe Ratio (2.20 vs 1.53), 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.