PPH vs. VOO

Last updated Jun 23, 2026

PPH (VanEck Pharmaceutical ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - PPH is a Health & Biotech Equities fund tracking the MVIS US Listed Pharmaceutical 25 Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, PPH returned 8.33%/yr vs 15.77%/yr for VOO. A 0.65 correlation means they provide meaningful diversification when combined. PPH charges 0.36%/yr vs 0.03%/yr for VOO.

Performance

PPH vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Pharmaceutical ETF (PPH) 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, PPH achieves a 1.11% return, which is significantly lower than VOO's 9.75% return. Over the past 10 years, PPH has underperformed VOO with an annualized return of 8.33%, while VOO has yielded a comparatively higher 15.77% annualized return.

PPH

• 1D: 0.92%
• 1M: -1.45%
• YTD: 1.11%
• 6M: 1.61%
• 1Y: 21.33%
• 3Y*: 11.87%
• 5Y*: 9.48%
• 10Y*: 8.33%

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

PPH vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPH VanEck Pharmaceutical ETF	1.11%	22.00%	8.05%	6.95%	2.64%	17.79%	5.49%	19.39%	-5.89%	15.23%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between PPH and VOO is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.65

Over the past year, the correlation between PPH and VOO has dropped to 0.27 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

PPH vs. VOO - Sectors Allocation Comparison

Sectors	PPH	VOO
Healthcare	100.0%	8.3%
Industrials	0.1%	7.6%
Basic Materials	-	1.7%
Communication Services	-	10.5%
Consumer Cyclical	-	9.8%
Consumer Defensive	-	4.5%
Energy	-	3.2%
Financial Services	-	10.9%
Real Estate	-	1.8%
Technology	-	39.1%
Utilities	-	2.5%

Return for Risk

PPH vs. VOO — Risk / Return Rank

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

PPH

PPH Risk / Return Rank: 36
PPH Sharpe Ratio Rank: 35
PPH Sortino Ratio Rank: 38
PPH Omega Ratio Rank: 34
PPH Calmar Ratio Rank: 41
PPH Martin Ratio Rank: 34

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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.

PPH vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Pharmaceutical ETF (PPH) 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.

	PPH	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.17	-0.95
Sortino ratio: Return per unit of downside risk	1.92	2.93	-1.01
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.99	3.02	-1.03
Martin ratio: Return relative to average drawdown	4.86	13.58	-8.72

PPH vs. VOO - Sharpe Ratio Comparison

The current PPH Sharpe Ratio is 1.22, which is lower than the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PPH 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

PPH vs. VOO - Drawdown Comparison

The maximum PPH drawdown since its inception was -51.45%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for PPH and VOO.

Drawdown Indicators

	PPH	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-51.45%	-33.99%	-17.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-8.90%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-18.69%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-20.26%	-24.52%	+4.26%
Max Drawdown (10Y) Largest decline over 10 years	-29.70%	-33.99%	+4.29%
Current Drawdown Current decline from peak	-6.61%	-1.74%	-4.87%
Average Drawdown Average peak-to-trough decline	-17.29%	-3.68%	-13.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	1.98%	+2.42%

Volatility

PPH vs. VOO - Volatility Comparison

VanEck Pharmaceutical ETF (PPH) has a higher volatility of 6.13% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that PPH'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

	PPH	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	4.60%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	9.73%	+2.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	12.39%	+5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	16.90%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	18.05%	-1.04%

PPH vs. VOO - Expense Ratio Comparison

PPH has a 0.36% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

PPH vs. VOO - Dividend Comparison

PPH's dividend yield for the trailing twelve months is around 2.08%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPH VanEck Pharmaceutical ETF	2.08%	1.78%	1.98%	2.09%	1.55%	1.62%	1.66%	1.77%	1.97%	1.92%	2.43%	1.93%
VOO Vanguard S&P 500 ETF	1.04%	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 PPH and VOO in my portfolio?

PPH and VOO have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPH or VOO?

PPH has higher volatility (6.13%) compared to VOO (4.60%). In terms of maximum drawdown, PPH dropped -51.45% vs VOO's -33.99%.

Which ETF is better, PPH or VOO?

On 10-year performance, VOO leads with 15.77% vs 8.33% for PPH. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPH or VOO?

Over the 10-year period, VOO has performed better with a 15.77% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPH or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.36% for PPH.

Which ETF pays a higher dividend yield, PPH or VOO?

PPH has the higher dividend yield at 2.08%, compared with 1.04% for VOO.

What is the main difference between PPH and VOO?

PPH is categorized as Health & Biotech Equities, while VOO is S&P 500. PPH tracks MVIS US Listed Pharmaceutical 25 Index, while VOO tracks S&P 500 Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.36% for PPH and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.17 vs 1.22), 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.