USBOX vs. VOO

Last updated Aug 1, 2026

USBOX (Pear Tree Quality Fund) and VOO (Vanguard S&P 500 ETF) are both funds - USBOX is a Quality Factor fund managed by Pear Tree Funds, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, USBOX returned 13.42%/yr vs 15.14%/yr for VOO. Their correlation of 0.93 means they have usually moved in the same direction. USBOX charges 1.16%/yr vs 0.03%/yr for VOO.

Performance

USBOX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pear Tree Quality Fund (USBOX) 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, USBOX achieves a 6.62% return, which is significantly lower than VOO's 10.16% return. Over the past 10 years, USBOX has underperformed VOO with an annualized return of 13.42%, while VOO has yielded a comparatively higher 15.14% annualized return.

USBOX

• 1D: 1.37%
• 1M: -0.09%
• 6M: 4.85%
• YTD: 6.62%
• 1Y: 19.75%
• 3Y*: 14.89%
• 5Y*: 8.82%
• 10Y*: 13.42%
• ALL TIME*: 8.62%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USBOX Pear Tree Quality Fund	$0.00	$0.00	$0.00
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

USBOX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USBOX Pear Tree Quality Fund	6.62%	15.77%	17.99%	29.20%	-16.25%	16.50%	18.06%	31.18%	-1.97%	28.49%
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 USBOX and VOO is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.93

The correlation between USBOX and VOO has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

USBOX vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

USBOX

USBOX Risk / Return Rank: 42
USBOX Sharpe Ratio Rank: 49
USBOX Sortino Ratio Rank: 49
USBOX Omega Ratio Rank: 44
USBOX Calmar Ratio Rank: 31
USBOX Martin Ratio Rank: 36

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

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.

USBOX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pear Tree Quality Fund (USBOX) 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.

	USBOX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.53	-0.21
Sortino ratio: Return per unit of downside risk	1.90	2.13	-0.23
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	1.36	2.21	-0.85
Martin ratio: Return relative to average drawdown	5.31	9.44	-4.13

USBOX vs. VOO - Sharpe Ratio Comparison

The current USBOX Sharpe Ratio is 1.33, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of USBOX 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

USBOX vs. VOO - Drawdown Comparison

The maximum USBOX drawdown since its inception was -65.67%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for USBOX and VOO.

Drawdown Indicators

	USBOX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-65.67%	-33.99%	-31.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.76%	-8.90%	-3.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.41%	-18.69%	+3.28%
Max Drawdown (5Y) Largest decline over 5 years	-30.42%	-24.52%	-5.90%
Max Drawdown (10Y) Largest decline over 10 years	-30.42%	-33.99%	+3.57%
Current Drawdown Current decline from peak	-0.46%	-1.38%	+0.92%
Average Drawdown Average peak-to-trough decline	-17.04%	-3.67%	-13.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.08%	+1.18%

Volatility

USBOX vs. VOO - Volatility Comparison

Pear Tree Quality Fund (USBOX) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.55% and 3.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USBOX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.54%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	10.10%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	12.82%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	16.93%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	18.01%	-0.86%

USBOX vs. VOO - Expense Ratio Comparison

USBOX has a 1.16% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

USBOX vs. VOO - Dividend Comparison

USBOX's dividend yield for the trailing twelve months is around 27.36%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USBOX Pear Tree Quality Fund	27.36%	29.17%	8.71%	4.37%	14.55%	0.88%	7.47%	19.65%	15.43%	6.92%	6.19%	12.85%
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

Can I hold both USBOX and VOO in my portfolio?

USBOX and VOO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USBOX or VOO?

USBOX has higher volatility (3.55%) compared to VOO (3.54%). In terms of maximum drawdown, USBOX dropped -65.67% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs 1.33), 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.