IPAY vs. VOO

Last updated Aug 4, 2026

IPAY (ETFMG Prime Mobile Payments ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - IPAY is a Technology Equities fund tracking the Prime Mobile Payments Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IPAY returned 7.66%/yr vs 15.17%/yr for VOO. Their 0.77 correlation means they have sometimes moved together and sometimes differently. IPAY charges 0.75%/yr vs 0.03%/yr for VOO.

Performance

IPAY vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Prime Mobile Payments ETF (IPAY) 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, IPAY achieves a -2.46% return, which is significantly lower than VOO's 11.72% return. Over the past 10 years, IPAY has underperformed VOO with an annualized return of 7.66%, while VOO has yielded a comparatively higher 15.17% annualized return.

IPAY

• 1D: 1.56%
• 1M: 4.88%
• 6M: 3.61%
• YTD: -2.46%
• 1Y: -9.51%
• 3Y*: 6.01%
• 5Y*: -5.73%
• 10Y*: 7.66%
• ALL TIME*: 6.67%

VOO

• 1D: 1.42%
• 1M: 1.69%
• 6M: 9.53%
• YTD: 11.72%
• 1Y: 23.30%
• 3Y*: 20.85%
• 5Y*: 13.12%
• 10Y*: 15.17%
• ALL TIME*: 14.88%

*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)
IPAY ETFMG Prime Mobile Payments ETF	$3.69M	$3.96M	$2.49M
VOO Vanguard S&P 500 ETF	$3.97B	$3.80B	$5.49B

IPAY vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPAY ETFMG Prime Mobile Payments ETF	-2.46%	-9.55%	25.88%	18.21%	-32.38%	-12.72%	34.22%	41.80%	0.17%	36.34%
VOO Vanguard S&P 500 ETF	11.72%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between IPAY and VOO is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Jul 16, 2015	0.77

The correlation between IPAY and VOO shifts across timeframes, from 0.58 (1 year) to 0.78 (10 years), reflecting how their relationship changes across market environments.

IPAY vs. VOO - Sectors Allocation Comparison

Sectors	IPAY	VOO
Technology	52.0%	38.6%
Financial Services	43.1%	11.4%
Industrials	4.9%	8.5%
Basic Materials	-	1.7%
Communication Services	-	9.9%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	4.5%
Energy	-	3.0%
Healthcare	-	8.9%
Real Estate	-	1.8%
Utilities	-	2.2%

Return for Risk

IPAY vs. VOO — Risk / Return Rank

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

IPAY

IPAY Risk / Return Rank: 7
IPAY Sharpe Ratio Rank: 6
IPAY Sortino Ratio Rank: 6
IPAY Omega Ratio Rank: 6
IPAY Calmar Ratio Rank: 7
IPAY Martin Ratio Rank: 8

VOO

VOO Risk / Return Rank: 78
VOO Sharpe Ratio Rank: 79
VOO Sortino Ratio Rank: 77
VOO Omega Ratio Rank: 78
VOO Calmar Ratio Rank: 74
VOO Martin Ratio Rank: 83

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.

IPAY vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Prime Mobile Payments ETF (IPAY) 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.

	IPAY	VOO	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	1.83	-2.22
Sortino ratio: Return per unit of downside risk	-0.37	2.53	-2.90
Omega ratio: Gain probability vs. loss probability	0.95	1.33	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.31	2.63	-2.94
Martin ratio: Return relative to average drawdown	-0.52	11.23	-11.76

IPAY vs. VOO - Sharpe Ratio Comparison

The current IPAY Sharpe Ratio is -0.39, which is lower than the VOO Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of IPAY 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

IPAY vs. VOO - Drawdown Comparison

The maximum IPAY drawdown since its inception was -51.75%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for IPAY and VOO.

Drawdown Indicators

	IPAY	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-51.75%	-33.99%	-17.76%
Max Drawdown (1Y) Largest decline over 1 year	-30.88%	-8.90%	-21.98%
Max Drawdown (3Y) Largest decline over 3 years	-32.74%	-18.69%	-14.05%
Max Drawdown (5Y) Largest decline over 5 years	-51.49%	-24.52%	-26.97%
Max Drawdown (10Y) Largest decline over 10 years	-51.75%	-33.99%	-17.76%
Current Drawdown Current decline from peak	-29.38%	0.00%	-29.38%
Average Drawdown Average peak-to-trough decline	-16.93%	-3.67%	-13.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.21%	2.08%	+16.13%

Volatility

IPAY vs. VOO - Volatility Comparison

ETFMG Prime Mobile Payments ETF (IPAY) has a higher volatility of 7.11% compared to Vanguard S&P 500 ETF (VOO) at 3.81%. This indicates that IPAY'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

	IPAY	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.11%	3.81%	+3.30%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	10.18%	+9.76%
Volatility (1Y) Calculated over the trailing 1-year period	24.73%	12.80%	+11.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.33%	16.95%	+9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	18.02%	+7.41%

IPAY vs. VOO - Expense Ratio Comparison

IPAY has a 0.75% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

IPAY vs. VOO - Dividend Comparison

IPAY's dividend yield for the trailing twelve months is around 0.81%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPAY ETFMG Prime Mobile Payments ETF	0.81%	0.79%	0.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.05%	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 IPAY and VOO in my portfolio?

IPAY and VOO have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAY or VOO?

IPAY has higher volatility (7.11%) compared to VOO (3.81%). In terms of maximum drawdown, IPAY dropped -51.75% vs VOO's -33.99%.

Which ETF is better, IPAY or VOO?

On 10-year performance, VOO leads with 15.17% vs 7.66% for IPAY. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAY or VOO?

Over the 10-year period, VOO has performed better with a 15.17% return vs 7.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAY or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.75% for IPAY.

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

VOO has the higher dividend yield at 1.05%, compared with 0.81% for IPAY.

What is the main difference between IPAY and VOO?

IPAY is categorized as Technology Equities, while VOO is S&P 500. IPAY tracks Prime Mobile Payments Index, while VOO tracks S&P 500 Index. They also come from different issuers: ETFMG and Vanguard. Their fees differ too: 0.75% for IPAY and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.83 vs -0.39), 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.