GAIN vs. VOO

Last updated Apr 2, 2026

Compare and contrast key facts about Gladstone Investment Corporation (GAIN) and Vanguard S&P 500 ETF (VOO).

VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.

Performance

GAIN vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gladstone Investment Corporation (GAIN) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

GAIN vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAIN Gladstone Investment Corporation	4.44%	17.11%	5.33%	31.01%	-17.55%	82.14%	-16.56%	53.31%	-9.67%	44.63%
VOO Vanguard S&P 500 ETF	-3.66%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Returns By Period

In the year-to-date period, GAIN achieves a 4.44% return, which is significantly higher than VOO's -3.66% return. Over the past 10 years, GAIN has outperformed VOO with an annualized return of 18.61%, while VOO has yielded a comparatively lower 14.14% annualized return.

GAIN

• 1D: 0.99%
• 1M: 4.28%
• YTD: 4.44%
• 6M: 6.57%
• 1Y: 18.30%
• 3Y*: 16.66%
• 5Y*: 14.94%
• 10Y*: 18.61%

VOO

• 1D: 0.79%
• 1M: -4.29%
• YTD: -3.66%
• 6M: -1.41%
• 1Y: 18.17%
• 3Y*: 18.58%
• 5Y*: 11.93%
• 10Y*: 14.14%

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

Return for Risk

GAIN vs. VOO — Risk / Return Rank

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

GAIN

GAIN Risk / Return Rank: 70
GAIN Sharpe Ratio Rank: 70
GAIN Sortino Ratio Rank: 66
GAIN Omega Ratio Rank: 65
GAIN Calmar Ratio Rank: 70
GAIN Martin Ratio Rank: 81

VOO

VOO Risk / Return Rank: 60
VOO Sharpe Ratio Rank: 54
VOO Sortino Ratio Rank: 57
VOO Omega Ratio Rank: 61
VOO Calmar Ratio Rank: 59
VOO Martin Ratio Rank: 69

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.

GAIN vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gladstone Investment Corporation (GAIN) 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.

	GAIN	VOO	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.01	-0.16
Sortino ratio Return per unit of downside risk	1.45	1.53	-0.08
Omega ratio Gain probability vs. loss probability	1.19	1.23	-0.04
Calmar ratio Return relative to maximum drawdown	1.47	1.55	-0.08
Martin ratio Return relative to average drawdown	6.29	7.31	-1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAIN vs. VOO - Sharpe Ratio Comparison

The current GAIN Sharpe Ratio is 0.85, which is comparable to the VOO Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of GAIN and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GAIN	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.01	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.71	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.79	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.83	-0.60

Correlation

The correlation between GAIN and VOO is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

GAIN vs. VOO - Dividend Comparison

GAIN's dividend yield for the trailing twelve months is around 10.46%, more than VOO's 1.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAIN Gladstone Investment Corporation	10.46%	10.74%	12.53%	17.24%	9.88%	6.06%	9.22%	7.06%	9.24%	7.94%	8.87%	9.68%
VOO Vanguard S&P 500 ETF	1.18%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Drawdowns

GAIN vs. VOO - Drawdown Comparison

The maximum GAIN drawdown since its inception was -80.87%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for GAIN and VOO.

Drawdown Indicators

	GAIN	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-80.87%	-33.99%	-46.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-11.98%	-1.03%
Max Drawdown (5Y) Largest decline over 5 years	-26.26%	-24.52%	-1.74%
Max Drawdown (10Y) Largest decline over 10 years	-56.28%	-33.99%	-22.29%
Current Drawdown Current decline from peak	-0.26%	-5.55%	+5.29%
Average Drawdown Average peak-to-trough decline	-16.03%	-3.72%	-12.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.55%	+0.50%

Volatility

GAIN vs. VOO - Volatility Comparison

Gladstone Investment Corporation (GAIN) has a higher volatility of 7.40% compared to Vanguard S&P 500 ETF (VOO) at 5.34%. This indicates that GAIN'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

	GAIN	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	5.34%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	9.47%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	21.60%	18.11%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	16.82%	+5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.40%	17.99%	+7.41%