XMAG vs. VOO

Last updated Aug 2, 2026

XMAG (Defiance Large Cap ex-Mag 7 ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - XMAG is a Large Cap Blend Equities fund tracking the BITA US 500 ex Magnificent 7 Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, XMAG returned 21.36% vs 21.58% for VOO. Their correlation of 0.87 means they have usually moved in the same direction. XMAG charges 0.35%/yr vs 0.03%/yr for VOO.

Performance

XMAG vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) 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, XMAG achieves a 12.36% return, which is significantly higher than VOO's 10.16% return.

XMAG

• 1D: -0.04%
• 1M: -1.41%
• 6M: 10.62%
• YTD: 12.36%
• 1Y: 21.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.93%

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)
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B
XMAG Defiance Large Cap ex-Mag 7 ETF	$1.40M	$2.49M	$1.91M

XMAG vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	12.36%	15.63%	-1.52%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	0.75%

Correlation

The correlation between XMAG 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 (All Time) Calculated using the full available price history since Oct 22, 2024	0.87

The correlation between XMAG and VOO has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

XMAG vs. VOO - Sectors Allocation Comparison

Sectors	XMAG	VOO
Technology	25.8%	38.6%
Financial Services	17.7%	11.4%
Healthcare	13.8%	8.9%
Industrials	11.5%	8.5%
Consumer Defensive	6.9%	4.5%
Energy	5.3%	3.0%
Consumer Cyclical	5.3%	9.5%
Utilities	4.0%	2.2%
Communication Services	3.0%	9.9%
Real Estate	2.9%	1.8%
Basic Materials	2.6%	1.7%

Return for Risk

XMAG vs. VOO — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 77
XMAG Sharpe Ratio Rank: 74
XMAG Sortino Ratio Rank: 76
XMAG Omega Ratio Rank: 70
XMAG Calmar Ratio Rank: 78
XMAG Martin Ratio Rank: 84

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.

XMAG vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) 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.

	XMAG	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.53	+0.15
Sortino ratio: Return per unit of downside risk	2.44	2.13	+0.31
Omega ratio: Gain probability vs. loss probability	1.29	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.77	2.21	+0.56
Martin ratio: Return relative to average drawdown	11.56	9.44	+2.13

XMAG vs. VOO - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 1.68, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of XMAG 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

XMAG vs. VOO - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for XMAG and VOO.

Drawdown Indicators

	XMAG	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-33.99%	+17.82%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-8.90%	+1.61%
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	-2.76%	-1.38%	-1.38%
Average Drawdown Average peak-to-trough decline	-2.07%	-3.67%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	2.08%	-0.33%

Volatility

XMAG vs. VOO - Volatility Comparison

Defiance Large Cap ex-Mag 7 ETF (XMAG) 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

	XMAG	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	9.62%	10.10%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	12.82%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	16.93%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	18.01%	-2.98%

XMAG vs. VOO - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

XMAG vs. VOO - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.46%, less than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XMAG and VOO in my portfolio?

XMAG 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, XMAG or VOO?

XMAG has higher volatility (3.55%) compared to VOO (3.54%). In terms of maximum drawdown, XMAG dropped -16.17% vs VOO's -33.99%.

Which ETF is better, XMAG or VOO?

On 1-year performance, VOO leads with 21.58% vs 21.36% for XMAG. On fees, VOO is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMAG or VOO?

Over the 1-year period, VOO has performed better with a 21.58% return vs 21.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMAG or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.35% for XMAG.

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

VOO has the higher dividend yield at 1.07%, compared with 0.46% for XMAG.

What is the main difference between XMAG and VOO?

XMAG is categorized as Large Cap Blend Equities, while VOO is S&P 500. XMAG tracks BITA US 500 ex Magnificent 7 Index, while VOO tracks S&P 500 Index. They also come from different issuers: Defiance and Vanguard. Their fees differ too: 0.35% for XMAG and 0.03% for VOO.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (1.68 vs 1.53), 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.