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SDY vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDY vs. VOO

Last updated Aug 2, 2026
Documentation

SDY (SPDR S&P Dividend ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SDY is a Mid Cap Value Equities fund tracking the S&P High Yield Dividend Aristocrats Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SDY returned 9.36%/yr vs 15.14%/yr for VOO. Their 0.80 correlation means they have sometimes moved together and sometimes differently. SDY charges 0.35%/yr vs 0.03%/yr for VOO.

Performance

SDY vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Dividend ETF (SDY) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SDY achieves a 12.79% return, which is significantly higher than VOO's 10.16% return. Over the past 10 years, SDY has underperformed VOO with an annualized return of 9.36%, while VOO has yielded a comparatively higher 15.14% annualized return.

SDY

1D
-0.28%
1M
-0.43%
6M
5.53%
YTD
12.79%
1Y
16.57%
3Y*
9.90%
5Y*
7.52%
10Y*
9.36%
ALL TIME*
9.00%

VOO

1D
0.71%
1M
0.26%
6M
8.58%
YTD
10.16%
1Y
21.58%
3Y*
19.42%
5Y*
12.83%
10Y*
15.14%
ALL TIME*
14.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SDY

SPDR S&P Dividend ETF
$29.02M$30.00M$33.36M

VOO

Vanguard S&P 500 ETF
$3.82B$3.78B$5.44B

SDY vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SDY
SPDR S&P Dividend ETF		12.79%8.18%8.45%2.61%-0.54%25.32%1.71%23.29%-2.74%15.82%
VOO
Vanguard S&P 500 ETF		10.16%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between SDY and VOO is 0.28, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.28

Correlation (3Y)
Balances recent behavior with more history.

0.50

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.65

Correlation (10Y)
Provides a long-term view across more market conditions.

0.72

Correlation (All Time)
Calculated using the full available price history since Sep 9, 2010

0.80

Over the past year, the correlation between SDY and VOO has dropped to 0.28 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

SDY vs. VOO - Sectors Allocation Comparison

Sectors
SDY
VOO

Industrials

17.5%
8.5%

Consumer Defensive

16.3%
4.5%

Utilities

14.2%
2.2%

Financial Services

12.6%
11.4%

Technology

10.3%
38.6%

Healthcare

7.9%
8.9%

Consumer Cyclical

5.9%
9.5%

Basic Materials

5.8%
1.7%

Real Estate

4.4%
1.8%

Energy

2.8%
3.0%

Communication Services

2.2%
9.9%

Industrials

SDY
17.5%
VOO
8.5%

Consumer Defensive

SDY
16.3%
VOO
4.5%

Utilities

SDY
14.2%
VOO
2.2%

Financial Services

SDY
12.6%
VOO
11.4%

Technology

SDY
10.3%
VOO
38.6%

Healthcare

SDY
7.9%
VOO
8.9%

Consumer Cyclical

SDY
5.9%
VOO
9.5%

Basic Materials

SDY
5.8%
VOO
1.7%

Real Estate

SDY
4.4%
VOO
1.8%

Energy

SDY
2.8%
VOO
3.0%

Communication Services

SDY
2.2%
VOO
9.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P Dividend ETF

Vanguard S&P 500 ETF

Often compared with SDY:
SDY vs. SCHDSDY vs. NOBLSDY vs. SPYDSDY vs. VYMSDY vs. SPYSDY vs. VIGSDY vs. SYLD
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. FXAIXVOO vs. SPYVOO vs. VGT

Return for Risk

SDY vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SDY
SDY Risk / Return Rank: 6262
Overall Rank
SDY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
SDY Sortino Ratio Rank: 7373
Sortino Ratio Rank
SDY Omega Ratio Rank: 6262
Omega Ratio Rank
SDY Calmar Ratio Rank: 6161
Calmar Ratio Rank
SDY Martin Ratio Rank: 4949
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6565
Sortino Ratio Rank
VOO Omega Ratio Rank: 6666
Omega Ratio Rank
VOO Calmar Ratio Rank: 6464
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SDY vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Dividend ETF (SDY) 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.

SDYVOODifference
Sharpe ratioReturn per unit of total volatility
1.51
1.53

-0.02

Sortino ratioReturn per unit of downside risk
2.32
2.13

+0.19

Omega ratioGain probability vs. loss probability

1.26

1.28

-0.01

Calmar ratioReturn relative to maximum drawdown

2.12

2.21

-0.09

Martin ratioReturn relative to average drawdown

5.70

9.44

-3.74

SDY vs. VOO - Sharpe Ratio Comparison

The current SDY Sharpe Ratio is 1.51, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SDY 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.

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Drawdowns

SDY vs. VOO - Drawdown Comparison

The maximum SDY drawdown since its inception was -54.75%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SDY and VOO.

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Drawdown Indicators

SDYVOODifference

Max Drawdown

Largest peak-to-trough decline

-54.75%

-33.99%

-20.76%

Max Drawdown (1Y)

Largest decline over 1 year

-7.67%

-8.90%

+1.23%

Max Drawdown (3Y)

Largest decline over 3 years

-14.39%

-18.69%

+4.30%

Max Drawdown (5Y)

Largest decline over 5 years

-15.21%

-24.52%

+9.31%

Max Drawdown (10Y)

Largest decline over 10 years

-36.70%

-33.99%

-2.71%

Current Drawdown

Current decline from peak

-2.33%

-1.38%

-0.95%

Average Drawdown

Average peak-to-trough decline

-6.17%

-3.67%

-2.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

2.08%

+0.76%

Volatility

SDY vs. VOO - Volatility Comparison

SPDR S&P Dividend ETF (SDY) has a higher volatility of 4.40% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that SDY'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.

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Volatility by Period

SDYVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.40%

3.54%

+0.86%

Volatility (6M)

Calculated over the trailing 6-month period

8.15%

10.10%

-1.95%

Volatility (1Y)

Calculated over the trailing 1-year period

10.77%

12.82%

-2.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.02%

16.93%

-2.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.09%

18.01%

-0.92%

SDY vs. VOO - Expense Ratio Comparison

SDY has a 0.35% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

SDY vs. VOO - Dividend Comparison

SDY's dividend yield for the trailing twelve months is around 2.41%, more than VOO's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
SDY
SPDR S&P Dividend ETF		2.41%2.61%2.56%2.64%2.55%2.63%2.85%2.45%2.73%4.69%3.30%6.20%
VOO
Vanguard S&P 500 ETF		1.07%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

SDY and VOO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SDY has higher volatility (4.40%) compared to VOO (3.54%). In terms of maximum drawdown, SDY dropped -54.75% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.14% vs 9.36% for SDY. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.14% return vs 9.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.35% for SDY.

SDY has the higher dividend yield at 2.41%, compared with 1.07% for VOO.

SDY is categorized as Mid Cap Value Equities, while VOO is S&P 500. SDY tracks S&P High Yield Dividend Aristocrats Index, while VOO tracks S&P 500 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.35% for SDY and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (1.53 vs 1.51), 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.

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