PBA vs. VOO

Last updated Jul 15, 2026

PBA (Pembina Pipeline Corporation) is a stock, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PBA returned 11.23%/yr vs 15.20%/yr for VOO. At a 0.43 correlation, their price movements are largely independent.

Performance

PBA vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pembina Pipeline Corporation (PBA) 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, PBA achieves a 34.35% return, which is significantly higher than VOO's 10.87% return. Over the past 10 years, PBA has underperformed VOO with an annualized return of 11.23%, while VOO has yielded a comparatively higher 15.20% annualized return.

PBA

• 1D: 0.68%
• 1M: 4.53%
• 6M: 35.27%
• YTD: 34.35%
• 1Y: 40.82%
• 3Y*: 23.86%
• 5Y*: 16.18%
• 10Y*: 11.23%

VOO

• 1D: 0.38%
• 1M: 1.64%
• 6M: 8.98%
• YTD: 10.87%
• 1Y: 21.75%
• 3Y*: 20.31%
• 5Y*: 13.16%
• 10Y*: 15.20%

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

PBA vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBA Pembina Pipeline Corporation	34.35%	8.55%	13.16%	7.81%	18.33%	36.99%	-30.57%	31.15%	-13.66%	21.15%
VOO Vanguard S&P 500 ETF	10.87%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between PBA and VOO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Oct 6, 2010	0.43

The correlation between PBA and VOO shifts across timeframes, from -0.10 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PBA vs. VOO — Risk / Return Rank

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

PBA

PBA Risk / Return Rank: 90
PBA Sharpe Ratio Rank: 92
PBA Sortino Ratio Rank: 91
PBA Omega Ratio Rank: 90
PBA Calmar Ratio Rank: 89
PBA Martin Ratio Rank: 86

VOO

VOO Risk / Return Rank: 67
VOO Sharpe Ratio Rank: 67
VOO Sortino Ratio Rank: 66
VOO Omega Ratio Rank: 67
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 73

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.

PBA vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PBA) 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.

	PBA	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.75	+0.34
Sortino ratio: Return per unit of downside risk	2.88	2.41	+0.47
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.40	2.45	+0.94
Martin ratio: Return relative to average drawdown	7.72	10.70	-2.98

PBA vs. VOO - Sharpe Ratio Comparison

The current PBA Sharpe Ratio is 2.09, which is comparable to the VOO Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of PBA 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

PBA vs. VOO - Drawdown Comparison

The maximum PBA drawdown since its inception was -70.87%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PBA and VOO.

Drawdown Indicators

	PBA	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-70.87%	-33.99%	-36.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.08%	-8.90%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-17.92%	-18.69%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-27.37%	-24.52%	-2.85%
Max Drawdown (10Y) Largest decline over 10 years	-70.87%	-33.99%	-36.88%
Current Drawdown Current decline from peak	0.00%	-0.74%	+0.74%
Average Drawdown Average peak-to-trough decline	-14.97%	-3.67%	-11.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	2.04%	+3.26%

Volatility

PBA vs. VOO - Volatility Comparison

Pembina Pipeline Corporation (PBA) has a higher volatility of 6.83% compared to Vanguard S&P 500 ETF (VOO) at 3.86%. This indicates that PBA'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

	PBA	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	3.86%	+2.97%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	9.96%	+3.84%
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	12.51%	+7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	16.93%	+4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.89%	18.00%	+14.89%

Dividends

PBA vs. VOO - Dividend Comparison

PBA's dividend yield for the trailing twelve months is around 4.14%, more than VOO's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBA Pembina Pipeline Corporation	4.14%	5.34%	5.39%	5.70%	5.78%	6.71%	8.56%	4.80%	5.81%	4.36%	4.19%	6.48%
VOO Vanguard S&P 500 ETF	1.06%	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 PBA and VOO in my portfolio?

PBA and VOO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBA or VOO?

PBA has higher volatility (6.83%) compared to VOO (3.86%). In terms of maximum drawdown, PBA dropped -70.87% vs VOO's -33.99%.

Which has better risk-adjusted returns?

PBA currently has the higher Sharpe Ratio (2.09 vs 1.75), 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.