USAF vs. VOO

Last updated Jun 4, 2026

USAF (Atlas America Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - USAF is a Diversified Portfolio fund actively managed by Atlas, while VOO is a S&P 500 fund tracking the S&P 500 Index. USAF is actively managed, while VOO is passively managed. Over the past year, USAF returned 6.07% vs 28.04% for VOO. At a 0.18 correlation, their price movements are largely independent. USAF charges 0.89%/yr vs 0.03%/yr for VOO.

Performance

USAF vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas America Fund (USAF) 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, USAF achieves a 2.08% return, which is significantly lower than VOO's 10.91% return.

USAF

• 1D: -0.37%
• 1M: -0.68%
• YTD: 2.08%
• 6M: 2.69%
• 1Y: 6.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: -0.70%
• 1M: 5.04%
• YTD: 10.91%
• 6M: 10.93%
• 1Y: 28.04%
• 3Y*: 22.44%
• 5Y*: 13.90%
• 10Y*: 15.56%

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

USAF vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USAF Atlas America Fund	2.08%	9.09%	0.23%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	-0.44%

Correlation

The correlation between USAF and VOO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.18

Return for Risk

USAF vs. VOO — Risk / Return Rank

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

USAF

USAF Risk / Return Rank: 27
USAF Sharpe Ratio Rank: 28
USAF Sortino Ratio Rank: 25
USAF Omega Ratio Rank: 29
USAF Calmar Ratio Rank: 28
USAF Martin Ratio Rank: 25

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

USAF vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas America Fund (USAF) 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.

	USAF	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.39	-1.37
Sortino ratio: Return per unit of downside risk	1.36	3.25	-1.90
Omega ratio: Gain probability vs. loss probability	1.19	1.43	-0.24
Calmar ratio: Return relative to maximum drawdown	1.37	3.16	-1.80
Martin ratio: Return relative to average drawdown	3.27	14.73	-11.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAF vs. VOO - Sharpe Ratio Comparison

The current USAF Sharpe Ratio is 1.02, which is lower than the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of USAF 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.

Sharpe Ratios by Period

	USAF	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.39	-1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.83	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.89	+0.44

Drawdowns

USAF vs. VOO - Drawdown Comparison

The maximum USAF drawdown since its inception was -4.46%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for USAF and VOO.

Drawdown Indicators

	USAF	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-4.46%	-33.99%	+29.53%
Max Drawdown (1Y) Largest decline over 1 year	-4.46%	-8.90%	+4.44%
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	-3.41%	-0.70%	-2.71%
Average Drawdown Average peak-to-trough decline	-1.09%	-3.69%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.91%	-0.05%

Volatility

USAF vs. VOO - Volatility Comparison

The current volatility for Atlas America Fund (USAF) is 1.08%, while Vanguard S&P 500 ETF (VOO) has a volatility of 2.84%. This indicates that USAF 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

	USAF	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	2.84%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	4.74%	8.90%	-4.16%
Volatility (1Y) Calculated over the trailing 1-year period	6.00%	11.80%	-5.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	16.81%	-11.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	18.01%	-12.32%

USAF vs. VOO - Expense Ratio Comparison

USAF has a 0.89% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

USAF vs. VOO - Dividend Comparison

USAF's dividend yield for the trailing twelve months is around 2.45%, more than VOO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USAF Atlas America Fund	2.45%	2.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.03%	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 USAF and VOO in my portfolio?

USAF and VOO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAF or VOO?

VOO has higher volatility (2.84%) compared to USAF (1.08%). In terms of maximum drawdown, USAF dropped -4.46% vs VOO's -33.99%.

Which ETF is better, USAF or VOO?

On 1-year performance, VOO leads with 28.04% vs 6.07% for USAF. On fees, VOO is cheaper at 0.03% per year. On volatility, USAF has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USAF or VOO?

Over the 1-year period, VOO has performed better with a 28.04% return vs 6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USAF or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.89% for USAF.

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

USAF has the higher dividend yield at 2.45%, compared with 1.03% for VOO.

What is the main difference between USAF and VOO?

USAF is categorized as Diversified Portfolio, while VOO is S&P 500. They also come from different issuers: Atlas and Vanguard. Their fees differ too: 0.89% for USAF and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.39 vs 1.02), 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.