TBG vs. VOO

Last updated Jun 24, 2026

TBG (TBG Dividend Focus ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - TBG is a Large Cap Value Equities fund actively managed by EA Series Trust, while VOO is a S&P 500 fund tracking the S&P 500 Index. TBG is actively managed, while VOO is passively managed. Over the past year, TBG returned 18.15% vs 23.69% for VOO. A 0.56 correlation means they provide meaningful diversification when combined. TBG charges 0.59%/yr vs 0.03%/yr for VOO.

Performance

TBG vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TBG Dividend Focus ETF (TBG) 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, TBG achieves a 10.84% return, which is significantly higher than VOO's 8.19% return.

TBG

• 1D: 0.73%
• 1M: -1.29%
• YTD: 10.84%
• 6M: 10.23%
• 1Y: 18.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

TBG vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TBG TBG Dividend Focus ETF	10.84%	7.50%	20.58%	9.55%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	9.59%

Correlation

The correlation between TBG and VOO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.56

The correlation between TBG and VOO shifts across timeframes, from 0.43 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

TBG vs. VOO - Sectors Allocation Comparison

Sectors	TBG	VOO
Healthcare	15.4%	8.3%
Financial Services	13.7%	10.9%
Energy	13.6%	3.2%
Technology	12.6%	39.1%
Real Estate	12.5%	1.8%
Consumer Defensive	10.0%	4.5%
Utilities	6.8%	2.5%
Consumer Cyclical	6.5%	9.8%
Industrials	3.7%	7.6%
Communication Services	3.6%	10.5%
Basic Materials	1.7%	1.7%

Return for Risk

TBG vs. VOO — Risk / Return Rank

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

TBG

TBG Risk / Return Rank: 59
TBG Sharpe Ratio Rank: 60
TBG Sortino Ratio Rank: 63
TBG Omega Ratio Rank: 55
TBG Calmar Ratio Rank: 63
TBG Martin Ratio Rank: 56

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.

TBG vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TBG Dividend Focus ETF (TBG) 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.

	TBG	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.91	-0.03
Sortino ratio: Return per unit of downside risk	2.73	2.60	+0.13
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.02
Calmar ratio: Return relative to maximum drawdown	2.97	2.67	+0.30
Martin ratio: Return relative to average drawdown	9.14	11.96	-2.82

TBG vs. VOO - Sharpe Ratio Comparison

The current TBG Sharpe Ratio is 1.89, which is comparable to the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of TBG 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

TBG vs. VOO - Drawdown Comparison

The maximum TBG drawdown since its inception was -14.76%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TBG and VOO.

Drawdown Indicators

	TBG	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-14.76%	-33.99%	+19.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.13%	-8.90%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-1.79%	-3.14%	+1.35%
Average Drawdown Average peak-to-trough decline	-2.08%	-3.68%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.99%	0.00%

Volatility

TBG vs. VOO - Volatility Comparison

The current volatility for TBG Dividend Focus ETF (TBG) is 3.22%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.83%. This indicates that TBG 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

	TBG	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.22%	4.83%	-1.61%
Volatility (6M) Calculated over the trailing 6-month period	6.93%	9.82%	-2.89%
Volatility (1Y) Calculated over the trailing 1-year period	9.67%	12.46%	-2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.20%	16.91%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.20%	18.02%	-5.82%

TBG vs. VOO - Expense Ratio Comparison

TBG has a 0.59% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

TBG vs. VOO - Dividend Comparison

TBG's dividend yield for the trailing twelve months is around 2.68%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TBG TBG Dividend Focus ETF	2.68%	2.80%	2.33%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 TBG and VOO in my portfolio?

TBG and VOO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TBG or VOO?

VOO has higher volatility (4.83%) compared to TBG (3.22%). In terms of maximum drawdown, TBG dropped -14.76% vs VOO's -33.99%.

Which ETF is better, TBG or VOO?

On 1-year performance, VOO leads with 23.69% vs 18.15% for TBG. On fees, VOO is cheaper at 0.03% per year. On volatility, TBG has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TBG or VOO?

Over the 1-year period, VOO has performed better with a 23.69% return vs 18.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TBG or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.59% for TBG.

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

TBG has the higher dividend yield at 2.68%, compared with 1.05% for VOO.

What is the main difference between TBG and VOO?

TBG is categorized as Large Cap Value Equities, while VOO is S&P 500. They also come from different issuers: EA Series Trust and Vanguard. Their fees differ too: 0.59% for TBG and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.91 vs 1.89), 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.