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VOOG vs. GBDC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VOOG vs. GBDC

Last updated Jun 13, 2026

VOOG (Vanguard S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index, while GBDC (Golub Capital BDC, Inc.) is a stock. Over the past 10 years, VOOG returned 17.86%/yr vs 6.73%/yr for GBDC. At a 0.35 correlation, their price movements are largely independent.

Performance

VOOG vs. GBDC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 Growth ETF (VOOG) and Golub Capital BDC, Inc. (GBDC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VOOG achieves a 9.67% return, which is significantly higher than GBDC's 0.68% return. Over the past 10 years, VOOG has outperformed GBDC with an annualized return of 17.86%, while GBDC has yielded a comparatively lower 6.73% annualized return.

VOOG

1D
0.38%
1M
-1.66%
YTD
9.67%
6M
10.61%
1Y
27.55%
3Y*
25.78%
5Y*
14.86%
10Y*
17.86%

GBDC

1D
-0.30%
1M
1.53%
YTD
0.68%
6M
-0.71%
1Y
-2.64%
3Y*
10.34%
5Y*
6.81%
10Y*
6.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VOOG vs. GBDC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VOOG
Vanguard S&P 500 Growth ETF		9.67%22.11%35.89%29.96%-29.48%31.95%33.35%30.93%-0.21%27.19%
GBDC
Golub Capital BDC, Inc.		0.68%-0.50%13.57%27.69%-6.99%17.78%-14.73%21.09%-2.20%6.27%

Correlation

The correlation between VOOG and GBDC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (10Y)
Calculated over the trailing 10-year period

0.35

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

0.35

Compare stocks, funds, or ETFs

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

Vanguard S&P 500 Growth ETF

Golub Capital BDC, Inc.

Often compared with VOOG:
VOOG vs. VOOVOOG vs. VUGVOOG vs. VOOVVOOG vs. QQQVOOG vs. VGTVOOG vs. FSPGXVOOG vs. VONG
Often compared with GBDC:
GBDC vs. ARCCGBDC vs. GSBDGBDC vs. MAINGBDC vs. CGBDGBDC vs. MFICGBDC vs. KMIGBDC vs. SPY

Return for Risk

VOOG vs. GBDC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VOOG
VOOG Risk / Return Rank: 5252
Overall Rank
VOOG Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
VOOG Sortino Ratio Rank: 5353
Sortino Ratio Rank
VOOG Omega Ratio Rank: 5353
Omega Ratio Rank
VOOG Calmar Ratio Rank: 4646
Calmar Ratio Rank
VOOG Martin Ratio Rank: 5353
Martin Ratio Rank
GBDC
GBDC Risk / Return Rank: 3535
Overall Rank
GBDC Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
GBDC Sortino Ratio Rank: 3030
Sortino Ratio Rank
GBDC Omega Ratio Rank: 3030
Omega Ratio Rank
GBDC Calmar Ratio Rank: 3838
Calmar Ratio Rank
GBDC Martin Ratio Rank: 3737
Martin Ratio Rank
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.

VOOG vs. GBDC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Growth ETF (VOOG) and Golub Capital BDC, Inc. (GBDC). 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.

VOOGGBDCDifference
Sharpe ratioReturn per unit of total volatility
1.67
-0.14

+1.81

Sortino ratioReturn per unit of downside risk
2.26
-0.06

+2.33

Omega ratioGain probability vs. loss probability

1.29

0.99

+0.30

Calmar ratioReturn relative to maximum drawdown

2.02

-0.15

+2.16

Martin ratioReturn relative to average drawdown

8.11

-0.31

+8.42

VOOG vs. GBDC - Sharpe Ratio Comparison

The current VOOG Sharpe Ratio is 1.67, which is higher than the GBDC Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of VOOG and GBDC, 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

VOOG vs. GBDC - Drawdown Comparison

The maximum VOOG drawdown since its inception was -32.73%, smaller than the maximum GBDC drawdown of -47.30%. Use the drawdown chart below to compare losses from any high point for VOOG and GBDC.

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Drawdown Indicators

VOOGGBDCDifference

Max Drawdown

Largest peak-to-trough decline

-32.73%

-47.30%

+14.57%

Max Drawdown (1Y)

Largest decline over 1 year

-13.71%

-18.20%

+4.49%

Max Drawdown (3Y)

Largest decline over 3 years

-22.18%

-18.20%

-3.98%

Max Drawdown (5Y)

Largest decline over 5 years

-32.73%

-19.28%

-13.45%

Max Drawdown (10Y)

Largest decline over 10 years

-32.73%

-47.30%

+14.57%

Current Drawdown

Current decline from peak

-4.65%

-6.79%

+2.14%

Average Drawdown

Average peak-to-trough decline

-4.97%

-6.13%

+1.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.40%

8.56%

-5.16%

Volatility

VOOG vs. GBDC - Volatility Comparison

Vanguard S&P 500 Growth ETF (VOOG) has a higher volatility of 6.29% compared to Golub Capital BDC, Inc. (GBDC) at 5.60%. This indicates that VOOG's price experiences larger fluctuations and is considered to be riskier than GBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VOOGGBDCDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.29%

5.60%

+0.69%

Volatility (6M)

Calculated over the trailing 6-month period

13.43%

15.83%

-2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

16.60%

19.15%

-2.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.29%

17.19%

+4.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.78%

21.56%

-0.78%

Dividends

VOOG vs. GBDC - Dividend Comparison

VOOG's dividend yield for the trailing twelve months is around 0.45%, less than GBDC's 11.29% yield.

PositionTTM20252024202320222021202020192018201720162015
GBDC
Golub Capital BDC, Inc.		11.29%11.50%12.73%10.00%9.35%7.58%8.44%7.70%8.49%7.47%8.32%7.70%
VOOG
Vanguard S&P 500 Growth ETF		0.45%0.49%0.49%1.12%0.93%0.53%0.88%1.26%1.34%1.32%1.47%1.56%

Frequently Asked Questions

VOOG and GBDC have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VOOG has higher volatility (6.29%) compared to GBDC (5.60%). In terms of maximum drawdown, VOOG dropped -32.73% vs GBDC's -47.30%.

VOOG currently has the higher Sharpe Ratio (1.67 vs -0.14), 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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