FVD vs. VOO

Last updated Aug 2, 2026

FVD (First Trust Value Line Dividend Index Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FVD is a Mid Cap Value Equities fund tracking the Value Line Dividend Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, FVD returned 8.75%/yr vs 15.14%/yr for VOO. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FVD charges 0.61%/yr vs 0.03%/yr for VOO.

Performance

FVD vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Value Line Dividend Index Fund (FVD) 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 investments are quite close, with FVD having a 10.07% return and VOO slightly higher at 10.16%. Over the past 10 years, FVD has underperformed VOO with an annualized return of 8.75%, while VOO has yielded a comparatively higher 15.14% annualized return.

FVD

• 1D: -0.18%
• 1M: 1.52%
• 6M: 5.94%
• YTD: 10.07%
• 1Y: 14.68%
• 3Y*: 9.72%
• 5Y*: 6.75%
• 10Y*: 8.75%
• ALL TIME*: 9.74%

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)
FVD First Trust Value Line Dividend Index Fund	$21.15M	$21.63M	$33.04M
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FVD vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVD First Trust Value Line Dividend Index Fund	10.07%	8.16%	10.04%	4.11%	-5.18%	25.08%	-0.02%	26.58%	-3.49%	12.51%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between FVD and VOO is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.72
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.79

Over the past year, the correlation between FVD and VOO has dropped to 0.23 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

FVD vs. VOO - Sectors Allocation Comparison

Sectors	FVD	VOO
Financial Services	19.8%	11.4%
Utilities	17.3%	2.2%
Industrials	14.4%	8.5%
Consumer Defensive	10.9%	4.5%
Healthcare	8.2%	8.9%
Real Estate	8.1%	1.8%
Technology	6.7%	38.6%
Consumer Cyclical	5.3%	9.5%
Energy	3.5%	3.0%
Communication Services	3.1%	9.9%
Basic Materials	2.8%	1.7%

Return for Risk

FVD vs. VOO — Risk / Return Rank

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

FVD

FVD Risk / Return Rank: 57
FVD Sharpe Ratio Rank: 60
FVD Sortino Ratio Rank: 67
FVD Omega Ratio Rank: 56
FVD Calmar Ratio Rank: 56
FVD Martin Ratio Rank: 45

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.

FVD vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Value Line Dividend Index Fund (FVD) 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.

	FVD	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.53	-0.11
Sortino ratio: Return per unit of downside risk	2.19	2.13	+0.06
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.99	2.21	-0.22
Martin ratio: Return relative to average drawdown	5.07	9.44	-4.37

FVD vs. VOO - Sharpe Ratio Comparison

The current FVD Sharpe Ratio is 1.42, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FVD 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

FVD vs. VOO - Drawdown Comparison

The maximum FVD drawdown since its inception was -51.00%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FVD and VOO.

Drawdown Indicators

	FVD	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-51.00%	-33.99%	-17.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-8.90%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	-18.69%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-16.41%	-24.52%	+8.11%
Max Drawdown (10Y) Largest decline over 10 years	-35.25%	-33.99%	-1.26%
Current Drawdown Current decline from peak	-1.72%	-1.38%	-0.34%
Average Drawdown Average peak-to-trough decline	-5.42%	-3.67%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.08%	+0.75%

Volatility

FVD vs. VOO - Volatility Comparison

First Trust Value Line Dividend Index Fund (FVD) has a higher volatility of 4.37% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that FVD'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

	FVD	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	3.54%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	8.01%	10.10%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	12.82%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	16.93%	-4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	18.01%	-2.54%

FVD vs. VOO - Expense Ratio Comparison

FVD has a 0.61% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

FVD vs. VOO - Dividend Comparison

FVD's dividend yield for the trailing twelve months is around 2.23%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVD First Trust Value Line Dividend Index Fund	2.23%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%
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 FVD and VOO in my portfolio?

FVD and VOO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVD or VOO?

FVD has higher volatility (4.37%) compared to VOO (3.54%). In terms of maximum drawdown, FVD dropped -51.00% vs VOO's -33.99%.

Which ETF is better, FVD or VOO?

On 10-year performance, VOO leads with 15.14% vs 8.75% for FVD. 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, FVD or VOO?

Over the 10-year period, VOO has performed better with a 15.14% return vs 8.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVD or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.61% for FVD.

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

FVD has the higher dividend yield at 2.23%, compared with 1.07% for VOO.

What is the main difference between FVD and VOO?

FVD is categorized as Mid Cap Value Equities, while VOO is S&P 500. FVD tracks Value Line Dividend Index, while VOO tracks S&P 500 Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.61% for FVD and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs 1.42), 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.