MDLOX vs. VOO

Last updated Jun 4, 2026

MDLOX (BlackRock Global Allocation Fund) and VOO (Vanguard S&P 500 ETF) are both funds - MDLOX is a Global Allocation fund actively managed by BlackRock, while VOO is a S&P 500 fund tracking the S&P 500 Index. MDLOX is actively managed, while VOO is passively managed. Over the past 10 years, MDLOX returned 8.33%/yr vs 15.56%/yr for VOO. Their correlation of 0.90 suggests significant overlap in exposure. MDLOX charges 1.11%/yr vs 0.03%/yr for VOO.

Performance

MDLOX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Global Allocation Fund (MDLOX) 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, MDLOX achieves a 8.12% return, which is significantly lower than VOO's 10.91% return. Over the past 10 years, MDLOX has underperformed VOO with an annualized return of 8.33%, while VOO has yielded a comparatively higher 15.56% annualized return.

MDLOX

• 1D: 0.32%
• 1M: 4.30%
• YTD: 8.12%
• 6M: 9.24%
• 1Y: 20.25%
• 3Y*: 14.59%
• 5Y*: 5.80%
• 10Y*: 8.33%

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)

MDLOX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDLOX BlackRock Global Allocation Fund	8.12%	19.38%	9.00%	12.35%	-16.08%	6.40%	24.62%	17.23%	-7.66%	13.30%
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 MDLOX and VOO is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.90

The correlation between MDLOX and VOO has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

MDLOX vs. VOO — Risk / Return Rank

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

MDLOX

MDLOX Risk / Return Rank: 50
MDLOX Sharpe Ratio Rank: 52
MDLOX Sortino Ratio Rank: 53
MDLOX Omega Ratio Rank: 52
MDLOX Calmar Ratio Rank: 42
MDLOX Martin Ratio Rank: 52

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.

MDLOX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Global Allocation Fund (MDLOX) 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.

	MDLOX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.39	-0.24
Sortino ratio: Return per unit of downside risk	3.09	3.25	-0.17
Omega ratio: Gain probability vs. loss probability	1.40	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	2.47	3.16	-0.70
Martin ratio: Return relative to average drawdown	10.58	14.73	-4.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDLOX vs. VOO - Sharpe Ratio Comparison

The current MDLOX Sharpe Ratio is 2.15, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of MDLOX 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

	MDLOX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.39	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.83	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.87	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.89	-0.09

Drawdowns

MDLOX vs. VOO - Drawdown Comparison

The maximum MDLOX drawdown since its inception was -32.96%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for MDLOX and VOO.

Drawdown Indicators

	MDLOX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-32.96%	-33.99%	+1.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-8.90%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	-18.69%	+8.61%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-24.52%	+1.63%
Max Drawdown (10Y) Largest decline over 10 years	-22.89%	-33.99%	+11.10%
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	1.93%	1.91%	+0.02%

Volatility

MDLOX vs. VOO - Volatility Comparison

BlackRock Global Allocation Fund (MDLOX) and Vanguard S&P 500 ETF (VOO) have volatilities of 2.91% and 2.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDLOX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	2.84%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	8.90%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.56%	11.80%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	16.81%	-5.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.71%	18.01%	-7.30%

MDLOX vs. VOO - Expense Ratio Comparison

MDLOX has a 1.11% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

MDLOX vs. VOO - Dividend Comparison

MDLOX's dividend yield for the trailing twelve months is around 8.39%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDLOX BlackRock Global Allocation Fund	8.39%	9.07%	7.50%	1.15%	5.98%	10.11%	10.01%	5.44%	5.21%	4.56%	1.81%	9.49%
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 MDLOX and VOO in my portfolio?

With a correlation of 0.90, MDLOX 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, MDLOX or VOO?

MDLOX has higher volatility (2.91%) compared to VOO (2.84%). In terms of maximum drawdown, MDLOX dropped -32.96% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.39 vs 2.15), 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.