IVOO vs. OPTZ

Last updated Jun 24, 2026

IVOO (Vanguard S&P Mid-Cap 400 ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds - IVOO tracks the S&P MidCap 400 Index while OPTZ tracks the Optimize Strategy Index. Both are passively managed. Over the past year, IVOO returned 25.18% vs 61.16% for OPTZ. Their correlation of 0.88 suggests significant overlap in exposure. IVOO charges 0.07%/yr vs 0.25%/yr for OPTZ.

Performance

IVOO vs. OPTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 ETF (IVOO) and Optimize Strategy Index ETF (OPTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOO achieves a 14.65% return, which is significantly lower than OPTZ's 32.54% return.

IVOO

• 1D: -1.01%
• 1M: 2.69%
• YTD: 14.65%
• 6M: 12.56%
• 1Y: 25.18%
• 3Y*: 16.08%
• 5Y*: 8.44%
• 10Y*: 11.59%

OPTZ

• 1D: -3.23%
• 1M: 7.00%
• YTD: 32.54%
• 6M: 30.49%
• 1Y: 61.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVOO vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IVOO Vanguard S&P Mid-Cap 400 ETF	14.65%	7.47%	10.08%
OPTZ Optimize Strategy Index ETF	32.54%	22.83%	16.41%

Correlation

The correlation between IVOO and OPTZ is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 23, 2024	0.88

The correlation between IVOO and OPTZ has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

IVOO vs. OPTZ - Sectors Allocation Comparison

Sectors	IVOO	OPTZ
Industrials	24.7%	8.2%
Technology	17.8%	55.4%
Financial Services	13.7%	8.0%
Consumer Cyclical	10.6%	8.5%
Healthcare	9.0%	9.4%
Real Estate	7.3%	1.4%
Energy	4.9%	1.3%
Basic Materials	4.8%	1.1%
Consumer Defensive	3.3%	3.5%
Utilities	2.9%	0.6%
Communication Services	1.0%	2.6%

Return for Risk

IVOO vs. OPTZ — Risk / Return Rank

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

IVOO

IVOO Risk / Return Rank: 53
IVOO Sharpe Ratio Rank: 48
IVOO Sortino Ratio Rank: 49
IVOO Omega Ratio Rank: 45
IVOO Calmar Ratio Rank: 61
IVOO Martin Ratio Rank: 61

OPTZ

OPTZ Risk / Return Rank: 92
OPTZ Sharpe Ratio Rank: 93
OPTZ Sortino Ratio Rank: 91
OPTZ Omega Ratio Rank: 89
OPTZ Calmar Ratio Rank: 92
OPTZ Martin Ratio Rank: 94

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.

IVOO vs. OPTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 ETF (IVOO) and Optimize Strategy Index ETF (OPTZ). 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.

	IVOO	OPTZ	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.09	-1.50
Sortino ratio: Return per unit of downside risk	2.33	3.95	-1.61
Omega ratio: Gain probability vs. loss probability	1.28	1.52	-0.24
Calmar ratio: Return relative to maximum drawdown	2.87	5.78	-2.91
Martin ratio: Return relative to average drawdown	10.47	25.39	-14.92

IVOO vs. OPTZ - Sharpe Ratio Comparison

The current IVOO Sharpe Ratio is 1.59, which is lower than the OPTZ Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of IVOO and OPTZ, 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

IVOO vs. OPTZ - Drawdown Comparison

The maximum IVOO drawdown since its inception was -42.33%, which is greater than OPTZ's maximum drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for IVOO and OPTZ.

Drawdown Indicators

	IVOO	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-42.33%	-25.75%	-16.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-10.63%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-24.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.33%	—	—
Current Drawdown Current decline from peak	-1.12%	-3.23%	+2.11%
Average Drawdown Average peak-to-trough decline	-5.25%	-3.36%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	2.42%	-0.01%

Volatility

IVOO vs. OPTZ - Volatility Comparison

The current volatility for Vanguard S&P Mid-Cap 400 ETF (IVOO) is 4.73%, while Optimize Strategy Index ETF (OPTZ) has a volatility of 9.74%. This indicates that IVOO experiences smaller price fluctuations and is considered to be less risky than OPTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOO	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	9.74%	-5.01%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	16.08%	-4.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	19.88%	-3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	21.28%	-1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	21.28%	-0.09%

IVOO vs. OPTZ - Expense Ratio Comparison

IVOO has a 0.07% expense ratio, which is lower than OPTZ's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IVOO vs. OPTZ - Dividend Comparison

IVOO's dividend yield for the trailing twelve months is around 1.19%, more than OPTZ's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOO Vanguard S&P Mid-Cap 400 ETF	1.19%	1.35%	1.30%	1.25%	1.58%	1.14%	1.23%	1.49%	1.56%	1.22%	1.37%	1.45%
OPTZ Optimize Strategy Index ETF	0.44%	0.58%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVOO and OPTZ in my portfolio?

IVOO and OPTZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOO or OPTZ?

OPTZ has higher volatility (9.74%) compared to IVOO (4.73%). In terms of maximum drawdown, IVOO dropped -42.33% vs OPTZ's -25.75%.

Which ETF is better, IVOO or OPTZ?

On 1-year performance, OPTZ leads with 61.16% vs 25.18% for IVOO. On fees, IVOO is cheaper at 0.07% per year. On volatility, IVOO has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVOO or OPTZ?

Over the 1-year period, OPTZ has performed better with a 61.16% return vs 25.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVOO or OPTZ?

IVOO is cheaper with a 0.07% expense ratio, compared with 0.25% for OPTZ.

Which ETF pays a higher dividend yield, IVOO or OPTZ?

IVOO has the higher dividend yield at 1.19%, compared with 0.44% for OPTZ.

What is the main difference between IVOO and OPTZ?

IVOO tracks S&P MidCap 400 Index, while OPTZ tracks Optimize Strategy Index. They also come from different issuers: Vanguard and Optimize. Their fees differ too: 0.07% for IVOO and 0.25% for OPTZ.

Which has better risk-adjusted returns?

OPTZ currently has the higher Sharpe Ratio (3.09 vs 1.59), 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.