IAI vs. VOX
IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and VOX (Vanguard Communication Services ETF) are both exchange-traded funds - IAI is a Financials Equities fund tracking the DJ US Select / Investment Services, while VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index. Both are passively managed. Over the past 10 years, IAI returned 19.37%/yr vs 8.94%/yr for VOX. A 0.63 correlation means they provide meaningful diversification when combined. IAI charges 0.41%/yr vs 0.09%/yr for VOX.
Performance
IAI vs. VOX - Performance Comparison
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Returns By Period
In the year-to-date period, IAI achieves a 3.17% return, which is significantly higher than VOX's -3.01% return. Over the past 10 years, IAI has outperformed VOX with an annualized return of 19.37%, while VOX has yielded a comparatively lower 8.94% annualized return.
IAI
- 1D
- 1.83%
- 1M
- 2.57%
- YTD
- 3.17%
- 6M
- 2.78%
- 1Y
- 21.00%
- 3Y*
- 28.06%
- 5Y*
- 14.44%
- 10Y*
- 19.37%
VOX
- 1D
- 0.03%
- 1M
- -5.20%
- YTD
- -3.01%
- 6M
- -1.76%
- 1Y
- 16.53%
- 3Y*
- 22.49%
- 5Y*
- 6.96%
- 10Y*
- 8.94%
IAI vs. VOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 3.17% | 25.80% | 34.37% | 15.27% | -10.87% | 40.48% | 18.61% | 24.26% | -9.47% | 28.86% |
VOX Vanguard Communication Services ETF | -3.01% | 26.27% | 33.12% | 44.81% | -38.85% | 13.83% | 29.12% | 28.03% | -16.75% | -5.50% |
Correlation
The correlation between IAI and VOX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.63 |
The correlation between IAI and VOX has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.
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Return for Risk
IAI vs. VOX — Risk / Return Rank
IAI
VOX
IAI vs. VOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Vanguard Communication Services ETF (VOX). 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.
| IAI | VOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.14 | +0.03 |
| Martin ratioReturn relative to average drawdown | 3.33 | 4.20 | -0.88 |
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Drawdowns
IAI vs. VOX - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.46%, which is greater than VOX's maximum drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for IAI and VOX.
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Drawdown Indicators
| IAI | VOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.46% | -57.18% | -18.28% |
Max Drawdown (1Y)Largest decline over 1 year | -16.52% | -13.56% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | -21.15% | -1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -46.76% | +17.92% |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | -46.76% | +6.38% |
Current DrawdownCurrent decline from peak | -2.81% | -6.27% | +3.46% |
Average DrawdownAverage peak-to-trough decline | -22.63% | -11.90% | -10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 3.67% | +2.13% |
Volatility
IAI vs. VOX - Volatility Comparison
iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) has a higher volatility of 5.98% compared to Vanguard Communication Services ETF (VOX) at 4.01%. This indicates that IAI's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAI | VOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 4.01% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 15.34% | 11.29% | +4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.44% | 15.48% | +3.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 21.17% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 20.90% | +1.95% |
IAI vs. VOX - Expense Ratio Comparison
IAI has a 0.41% expense ratio, which is higher than VOX's 0.09% expense ratio.
Dividends
IAI vs. VOX - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.05%, more than VOX's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.05% | 0.95% | 1.05% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.49% | 1.31% |
VOX Vanguard Communication Services ETF | 1.01% | 0.95% | 1.05% | 1.03% | 0.88% | 0.93% | 0.73% | 0.90% | 2.77% | 3.83% | 2.67% | 3.55% |
Frequently Asked Questions
IAI and VOX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAI has higher volatility (5.98%) compared to VOX (4.01%). In terms of maximum drawdown, IAI dropped -75.46% vs VOX's -57.18%.
On 10-year performance, IAI leads with 19.37% vs 8.94% for VOX. On fees, VOX is cheaper at 0.09% per year. On volatility, VOX has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAI has performed better with a 19.37% return vs 8.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOX is cheaper with a 0.09% expense ratio, compared with 0.41% for IAI.
IAI has the higher dividend yield at 1.05%, compared with 1.01% for VOX.
IAI is categorized as Financials Equities, while VOX is Communications Equities. IAI tracks DJ US Select / Investment Services, while VOX tracks MSCI US Investable Market Communication Services 25/50 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.41% for IAI and 0.09% for VOX.
VOX currently has the higher Sharpe Ratio (1.00 vs 1.00), 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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