LIWKX vs. VOO

Last updated Jun 4, 2026

LIWKX (BlackRock LifePath Index 2065 Fund Class K) and VOO (Vanguard S&P 500 ETF) are both funds - LIWKX is a Target Retirement Date fund tracking the BlackRock LifePath Index 2065 Custom Benchmark (USD), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, LIWKX returned 10.73%/yr vs 13.90%/yr for VOO. With a 0.96 correlation, they move nearly in lockstep. LIWKX charges 0.09%/yr vs 0.03%/yr for VOO.

Performance

LIWKX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2065 Fund Class K (LIWKX) 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, LIWKX achieves a 13.22% return, which is significantly higher than VOO's 10.91% return.

LIWKX

• 1D: 0.49%
• 1M: 5.71%
• YTD: 13.22%
• 6M: 14.12%
• 1Y: 30.25%
• 3Y*: 20.25%
• 5Y*: 10.73%
• 10Y*: —

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)

LIWKX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LIWKX BlackRock LifePath Index 2065 Fund Class K	13.22%	21.71%	14.22%	21.64%	-18.33%	18.87%	15.47%	5.73%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	6.36%

Correlation

The correlation between LIWKX and VOO is 0.95, 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 (All Time) Calculated using the full available price history since Oct 31, 2019	0.96

The correlation between LIWKX and VOO has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

LIWKX vs. VOO — Risk / Return Rank

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

LIWKX

LIWKX Risk / Return Rank: 68
LIWKX Sharpe Ratio Rank: 69
LIWKX Sortino Ratio Rank: 64
LIWKX Omega Ratio Rank: 62
LIWKX Calmar Ratio Rank: 69
LIWKX Martin Ratio Rank: 75

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.

LIWKX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2065 Fund Class K (LIWKX) 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.

	LIWKX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.39	+0.04
Sortino ratio: Return per unit of downside risk	3.36	3.25	+0.11
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.22	3.16	+0.06
Martin ratio: Return relative to average drawdown	14.31	14.73	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LIWKX vs. VOO - Sharpe Ratio Comparison

The current LIWKX Sharpe Ratio is 2.43, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of LIWKX 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

	LIWKX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	2.39	+0.04
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	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.89	-0.17

Drawdowns

LIWKX vs. VOO - Drawdown Comparison

The maximum LIWKX drawdown since its inception was -33.02%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for LIWKX and VOO.

Drawdown Indicators

	LIWKX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.02%	-33.99%	+0.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-8.90%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-17.14%	-18.69%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-26.41%	-24.52%	-1.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	0.00%	-0.70%	+0.70%
Average Drawdown Average peak-to-trough decline	-5.78%	-3.69%	-2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.91%	+0.23%

Volatility

LIWKX vs. VOO - Volatility Comparison

BlackRock LifePath Index 2065 Fund Class K (LIWKX) has a higher volatility of 3.88% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that LIWKX'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

	LIWKX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	2.84%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	8.90%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	11.80%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	16.81%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	18.01%	+0.62%

LIWKX vs. VOO - Expense Ratio Comparison

LIWKX has a 0.09% 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

LIWKX vs. VOO - Dividend Comparison

LIWKX's dividend yield for the trailing twelve months is around 1.60%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIWKX BlackRock LifePath Index 2065 Fund Class K	1.60%	1.81%	0.00%	2.02%	1.80%	1.81%	1.32%	0.88%	0.00%	0.00%	0.00%	0.00%
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 LIWKX and VOO in my portfolio?

With a correlation of 0.95, LIWKX 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, LIWKX or VOO?

LIWKX has higher volatility (3.88%) compared to VOO (2.84%). In terms of maximum drawdown, LIWKX dropped -33.02% vs VOO's -33.99%.

Which has better risk-adjusted returns?

LIWKX currently has the higher Sharpe Ratio (2.43 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.