FTLS vs. VOO
FTLS (First Trust Long/Short Equity ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FTLS is a Long-Short fund actively managed by First Trust, while VOO is a S&P 500 fund tracking the S&P 500 Index. FTLS is actively managed, while VOO is passively managed. Over the past 10 years, FTLS returned 10.02%/yr vs 15.77%/yr for VOO. Their correlation of 0.81 suggests significant overlap in exposure. FTLS charges 1.60%/yr vs 0.03%/yr for VOO.
Performance
FTLS vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, FTLS achieves a 5.55% return, which is significantly lower than VOO's 9.75% return. Over the past 10 years, FTLS has underperformed VOO with an annualized return of 10.02%, while VOO has yielded a comparatively higher 15.77% annualized return.
FTLS
- 1D
- 0.48%
- 1M
- 0.28%
- YTD
- 5.55%
- 6M
- 5.16%
- 1Y
- 16.53%
- 3Y*
- 14.35%
- 5Y*
- 10.26%
- 10Y*
- 10.02%
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%
FTLS vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 5.55% | 9.09% | 18.80% | 16.94% | -5.56% | 19.65% | 2.56% | 16.16% | -4.81% | 14.41% |
VOO Vanguard S&P 500 ETF | 9.75% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between FTLS and VOO is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2014 | 0.81 |
The correlation between FTLS and VOO has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
FTLS vs. VOO — Risk / Return Rank
FTLS
VOO
FTLS vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) 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.
| FTLS | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.39 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | 3.02 | +1.37 |
| Martin ratioReturn relative to average drawdown | 13.59 | 13.58 | +0.01 |
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Drawdowns
FTLS vs. VOO - Drawdown Comparison
The maximum FTLS drawdown since its inception was -20.54%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FTLS and VOO.
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Drawdown Indicators
| FTLS | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -33.99% | +13.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -8.90% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -18.69% | +7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | -24.52% | +12.83% |
Max Drawdown (10Y)Largest decline over 10 years | -20.54% | -33.99% | +13.45% |
Current DrawdownCurrent decline from peak | -0.02% | -1.74% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -3.68% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.98% | -0.76% |
Volatility
FTLS vs. VOO - Volatility Comparison
The current volatility for First Trust Long/Short Equity ETF (FTLS) is 2.41%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.60%. This indicates that FTLS 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.
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Volatility by Period
| FTLS | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 4.60% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 9.73% | -3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.37% | 12.39% | -4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.57% | 16.90% | -6.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.30% | 18.05% | -6.75% |
FTLS vs. VOO - Expense Ratio Comparison
FTLS has a 1.60% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
FTLS vs. VOO - Dividend Comparison
FTLS's dividend yield for the trailing twelve months is around 0.90%, less than VOO's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 0.90% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
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
FTLS and VOO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.60%) compared to FTLS (2.41%). In terms of maximum drawdown, FTLS dropped -20.54% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.77% vs 10.02% for FTLS. On fees, VOO is cheaper at 0.03% per year. On volatility, FTLS has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.77% return vs 10.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 1.60% for FTLS.
VOO has the higher dividend yield at 1.04%, compared with 0.90% for FTLS.
FTLS is categorized as Long-Short, while VOO is S&P 500. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 1.60% for FTLS and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (2.17 vs 1.99), 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.
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