LIPIX vs. VOO

Last updated Jun 4, 2026

LIPIX (BlackRock LifePath Index 2050 Fund Institutional) and VOO (Vanguard S&P 500 ETF) are both funds - LIPIX is a Target Retirement Date fund tracking the BlackRock LifePath Index 2050 Custom Benchmark (USD), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, LIPIX returned 11.99%/yr vs 15.56%/yr for VOO. With a 0.95 correlation, they move nearly in lockstep. LIPIX charges 0.14%/yr vs 0.03%/yr for VOO.

Performance

LIPIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2050 Fund Institutional (LIPIX) 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, LIPIX achieves a 12.45% return, which is significantly higher than VOO's 10.91% return. Over the past 10 years, LIPIX has underperformed VOO with an annualized return of 11.99%, while VOO has yielded a comparatively higher 15.56% annualized return.

LIPIX

• 1D: 0.43%
• 1M: 5.32%
• YTD: 12.45%
• 6M: 13.25%
• 1Y: 28.60%
• 3Y*: 20.09%
• 5Y*: 10.56%
• 10Y*: 11.99%

VOO

• 1D: -0.70%
• 1M: 5.04%
• YTD: 10.91%
• 6M: 10.93%
• 1Y: 28.04%
• 3Y*: 22.44%
• 5Y*: 13.90%
• 10Y*: 15.56%

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

LIPIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LIPIX BlackRock LifePath Index 2050 Fund Institutional	12.45%	20.70%	15.61%	21.25%	-18.33%	18.68%	14.23%	26.72%	-7.86%	21.38%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between LIPIX and VOO is 0.94, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011	0.95

The correlation between LIPIX and VOO has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

LIPIX vs. VOO — Risk / Return Rank

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

LIPIX

LIPIX Risk / Return Rank: 67
LIPIX Sharpe Ratio Rank: 68
LIPIX Sortino Ratio Rank: 64
LIPIX Omega Ratio Rank: 62
LIPIX Calmar Ratio Rank: 68
LIPIX Martin Ratio Rank: 74

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

LIPIX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2050 Fund Institutional (LIPIX) 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.

	LIPIX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.39	+0.03
Sortino ratio: Return per unit of downside risk	3.36	3.25	+0.10
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.19	3.16	+0.02
Martin ratio: Return relative to average drawdown	14.10	14.73	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LIPIX vs. VOO - Sharpe Ratio Comparison

The current LIPIX Sharpe Ratio is 2.42, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of LIPIX 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.

Sharpe Ratios by Period

	LIPIX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.39	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.83	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.87	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.89	-0.26

Drawdowns

LIPIX vs. VOO - Drawdown Comparison

The maximum LIPIX drawdown since its inception was -34.29%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for LIPIX and VOO.

Drawdown Indicators

	LIPIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-34.29%	-33.99%	-0.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-8.90%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-15.98%	-18.69%	+2.71%
Max Drawdown (5Y) Largest decline over 5 years	-26.39%	-24.52%	-1.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.29%	-33.99%	-0.30%
Current Drawdown Current decline from peak	0.00%	-0.70%	+0.70%
Average Drawdown Average peak-to-trough decline	-4.48%	-3.69%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.91%	+0.14%

Volatility

LIPIX vs. VOO - Volatility Comparison

BlackRock LifePath Index 2050 Fund Institutional (LIPIX) has a higher volatility of 3.76% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that LIPIX'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

	LIPIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	2.84%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	8.90%	+0.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	11.80%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	16.81%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	18.01%	-1.50%

LIPIX vs. VOO - Expense Ratio Comparison

LIPIX has a 0.14% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LIPIX vs. VOO - Dividend Comparison

LIPIX's dividend yield for the trailing twelve months is around 2.47%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIPIX BlackRock LifePath Index 2050 Fund Institutional	2.47%	2.77%	2.45%	2.10%	2.03%	2.15%	1.08%	3.29%	2.37%	2.31%	1.57%	3.12%
VOO Vanguard S&P 500 ETF	1.03%	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 LIPIX and VOO in my portfolio?

With a correlation of 0.94, LIPIX and VOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, LIPIX or VOO?

LIPIX has higher volatility (3.76%) compared to VOO (2.84%). In terms of maximum drawdown, LIPIX dropped -34.29% vs VOO's -33.99%.

Which has better risk-adjusted returns?

LIPIX currently has the higher Sharpe Ratio (2.42 vs 2.39), 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.