SHCDX vs. VOO

Last updated Jun 24, 2026

SHCDX (Virtus Stone Harbor Emerg Mkts Corp Dbt) and VOO (Vanguard S&P 500 ETF) are both funds - SHCDX is a Emerging Markets Bonds fund managed by Stone Harbor, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, SHCDX returned 4.66%/yr vs 15.61%/yr for VOO. At a 0.22 correlation, their price movements are largely independent. SHCDX charges 1.02%/yr vs 0.03%/yr for VOO.

Performance

SHCDX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Stone Harbor Emerg Mkts Corp Dbt (SHCDX) 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, SHCDX achieves a 3.29% return, which is significantly lower than VOO's 8.19% return. Over the past 10 years, SHCDX has underperformed VOO with an annualized return of 4.66%, while VOO has yielded a comparatively higher 15.61% annualized return.

SHCDX

• 1D: 0.00%
• 1M: 1.07%
• YTD: 3.29%
• 6M: 3.42%
• 1Y: 8.74%
• 3Y*: 8.65%
• 5Y*: 3.10%
• 10Y*: 4.66%

VOO

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.19%
• 6M: 7.24%
• 1Y: 23.69%
• 3Y*: 20.78%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

SHCDX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHCDX Virtus Stone Harbor Emerg Mkts Corp Dbt	3.29%	8.81%	7.58%	9.70%	-11.76%	1.95%	7.77%	13.94%	-3.90%	9.29%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between SHCDX and VOO is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.22

The correlation between SHCDX and VOO shifts across timeframes, from 0.22 (10 years) to 0.36 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SHCDX vs. VOO — Risk / Return Rank

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

SHCDX

SHCDX Risk / Return Rank: 96
SHCDX Sharpe Ratio Rank: 99
SHCDX Sortino Ratio Rank: 98
SHCDX Omega Ratio Rank: 98
SHCDX Calmar Ratio Rank: 92
SHCDX Martin Ratio Rank: 94

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 56
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 56
VOO Martin Ratio Rank: 67

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.

SHCDX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerg Mkts Corp Dbt (SHCDX) 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.

	SHCDX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	4.36	1.91	+2.44
Sortino ratio: Return per unit of downside risk	7.16	2.60	+4.56
Omega ratio: Gain probability vs. loss probability	2.24	1.35	+0.89
Calmar ratio: Return relative to maximum drawdown	4.68	2.67	+2.01
Martin ratio: Return relative to average drawdown	19.01	11.96	+7.05

SHCDX vs. VOO - Sharpe Ratio Comparison

The current SHCDX Sharpe Ratio is 4.36, which is higher than the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of SHCDX 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

SHCDX vs. VOO - Drawdown Comparison

The maximum SHCDX drawdown since its inception was -26.24%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SHCDX and VOO.

Drawdown Indicators

	SHCDX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-26.24%	-33.99%	+7.75%
Max Drawdown (1Y) Largest decline over 1 year	-1.90%	-8.90%	+7.00%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-18.69%	+14.83%
Max Drawdown (5Y) Largest decline over 5 years	-21.81%	-24.52%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	-26.24%	-33.99%	+7.75%
Current Drawdown Current decline from peak	-0.05%	-3.14%	+3.09%
Average Drawdown Average peak-to-trough decline	-3.11%	-3.68%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	1.99%	-1.52%

Volatility

SHCDX vs. VOO - Volatility Comparison

The current volatility for Virtus Stone Harbor Emerg Mkts Corp Dbt (SHCDX) is 0.49%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.83%. This indicates that SHCDX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHCDX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	4.83%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	9.82%	-8.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.05%	12.46%	-10.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	16.91%	-13.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	18.02%	-13.07%

SHCDX vs. VOO - Expense Ratio Comparison

SHCDX has a 1.02% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

SHCDX vs. VOO - Dividend Comparison

SHCDX's dividend yield for the trailing twelve months is around 5.99%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHCDX Virtus Stone Harbor Emerg Mkts Corp Dbt	5.99%	6.00%	6.33%	5.72%	5.52%	4.65%	5.28%	4.72%	6.08%	4.10%	5.44%	5.04%
VOO Vanguard S&P 500 ETF	1.05%	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 SHCDX and VOO in my portfolio?

SHCDX and VOO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHCDX or VOO?

VOO has higher volatility (4.83%) compared to SHCDX (0.49%). In terms of maximum drawdown, SHCDX dropped -26.24% vs VOO's -33.99%.

Which has better risk-adjusted returns?

SHCDX currently has the higher Sharpe Ratio (4.36 vs 1.91), 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.