FRUE.L vs. VOO

Last updated Jun 5, 2026

FRUE.L (Franklin LibertyQ U.S. Equity UCITS ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FRUE.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, FRUE.L returned 12.10%/yr vs 13.98%/yr for VOO. A 0.53 correlation means they provide meaningful diversification when combined. FRUE.L charges 0.25%/yr vs 0.03%/yr for VOO.

Performance

FRUE.L vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) 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, FRUE.L achieves a 12.02% return, which is significantly higher than VOO's 11.34% return.

FRUE.L

• 1D: -0.02%
• 1M: 4.22%
• YTD: 12.02%
• 6M: 12.65%
• 1Y: 29.41%
• 3Y*: 18.78%
• 5Y*: 12.10%
• 10Y*: —

VOO

• 1D: 0.39%
• 1M: 4.62%
• YTD: 11.34%
• 6M: 11.27%
• 1Y: 28.62%
• 3Y*: 22.68%
• 5Y*: 13.98%
• 10Y*: 15.55%

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

FRUE.L vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRUE.L Franklin LibertyQ U.S. Equity UCITS ETF	12.02%	21.39%	10.18%	15.31%	-8.72%	26.85%	9.50%	28.21%	-3.22%	11.10%
VOO Vanguard S&P 500 ETF	11.34%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	9.42%

Correlation

The correlation between FRUE.L and VOO is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 11, 2017	0.53

The correlation between FRUE.L and VOO shifts across timeframes, from 0.52 (3 years) to 0.64 (1 year), reflecting how their relationship changes across market environments.

FRUE.L vs. VOO - Sectors Allocation Comparison

Sectors	FRUE.L	VOO
Technology	34.3%	35.7%
Communication Services	12.2%	11.3%
Consumer Cyclical	11.5%	10.2%
Healthcare	10.5%	8.5%
Industrials	10.1%	8.3%
Financial Services	9.9%	11.6%
Consumer Defensive	4.4%	4.9%
Real Estate	2.9%	1.9%
Basic Materials	1.7%	1.8%
Utilities	1.6%	2.4%
Energy	1.0%	3.5%

Return for Risk

FRUE.L vs. VOO — Risk / Return Rank

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

FRUE.L

FRUE.L Risk / Return Rank: 75
FRUE.L Sharpe Ratio Rank: 73
FRUE.L Sortino Ratio Rank: 79
FRUE.L Omega Ratio Rank: 73
FRUE.L Calmar Ratio Rank: 71
FRUE.L Martin Ratio Rank: 81

VOO

VOO Risk / Return Rank: 74
VOO Sharpe Ratio Rank: 76
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 75
VOO Calmar Ratio Rank: 66
VOO Martin Ratio Rank: 78

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.

FRUE.L vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) 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.

	FRUE.L	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.44	-0.10
Sortino ratio: Return per unit of downside risk	3.47	3.31	+0.15
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	3.50	3.23	+0.27
Martin ratio: Return relative to average drawdown	15.67	15.03	+0.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRUE.L vs. VOO - Sharpe Ratio Comparison

The current FRUE.L Sharpe Ratio is 2.34, which is comparable to the VOO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FRUE.L 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

	FRUE.L	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.44	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.84	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.89	-0.03

Drawdowns

FRUE.L vs. VOO - Drawdown Comparison

The maximum FRUE.L drawdown since its inception was -33.46%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FRUE.L and VOO.

Drawdown Indicators

	FRUE.L	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.46%	-33.99%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-8.90%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-18.69%	-0.54%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-24.52%	+5.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.13%	-0.32%	+0.19%
Average Drawdown Average peak-to-trough decline	-3.80%	-3.69%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.91%	-0.04%

Volatility

FRUE.L vs. VOO - Volatility Comparison

Franklin LibertyQ U.S. Equity UCITS ETF (FRUE.L) has a higher volatility of 3.72% compared to Vanguard S&P 500 ETF (VOO) at 2.78%. This indicates that FRUE.L'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

	FRUE.L	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	2.78%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	9.70%	8.90%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	11.80%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	16.81%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	18.00%	-2.26%

FRUE.L vs. VOO - Expense Ratio Comparison

FRUE.L has a 0.25% 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

FRUE.L vs. VOO - Dividend Comparison

FRUE.L has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRUE.L Franklin LibertyQ U.S. Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.02%	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 FRUE.L and VOO in my portfolio?

FRUE.L and VOO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRUE.L or VOO?

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRUE.L or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.25% for FRUE.L.

What is the main difference between FRUE.L and VOO?

FRUE.L is categorized as Large Cap Blend Equities, while VOO is S&P 500. FRUE.L tracks Russell 1000 TR USD, while VOO tracks S&P 500 Index. They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.25% for FRUE.L and 0.03% for VOO.