XOEF vs. VOO

Last updated Jul 21, 2026

XOEF (iShares S&P 500 ex S&P 100 ETF) and VOO (Vanguard S&P 500 ETF) are both S&P 500 funds - XOEF tracks the S&P 500 Ex-S&P 100 Select Index while VOO tracks the S&P 500 Index. Both are passively managed. Over the past year, XOEF returned 18.97% vs 19.65% for VOO. Their correlation of 0.81 suggests significant overlap in exposure. XOEF charges 0.20%/yr vs 0.03%/yr for VOO.

Performance

XOEF vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) 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, XOEF achieves a 13.96% return, which is significantly higher than VOO's 9.44% return.

XOEF

• 1D: -0.44%
• 1M: -1.24%
• 6M: 8.68%
• YTD: 13.96%
• 1Y: 18.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.24%

VOO

• 1D: -0.14%
• 1M: -0.57%
• 6M: 7.90%
• YTD: 9.44%
• 1Y: 19.65%
• 3Y*: 19.52%
• 5Y*: 12.88%
• 10Y*: 14.98%
• ALL TIME*: 14.77%

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

XOEF vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025
XOEF iShares S&P 500 ex S&P 100 ETF	13.96%	4.27%
VOO Vanguard S&P 500 ETF	9.44%	10.61%

Correlation

The correlation between XOEF and VOO is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.81

The correlation between XOEF and VOO has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

Return for Risk

XOEF vs. VOO — Risk / Return Rank

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

XOEF

XOEF Risk / Return Rank: 63
XOEF Sharpe Ratio Rank: 60
XOEF Sortino Ratio Rank: 61
XOEF Omega Ratio Rank: 55
XOEF Calmar Ratio Rank: 67
XOEF Martin Ratio Rank: 72

VOO

VOO Risk / Return Rank: 64
VOO Sharpe Ratio Rank: 64
VOO Sortino Ratio Rank: 62
VOO Omega Ratio Rank: 63
VOO Calmar Ratio Rank: 59
VOO Martin Ratio Rank: 72

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.

XOEF vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) 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.

	XOEF	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.57	-0.09
Sortino ratio: Return per unit of downside risk	2.15	2.19	-0.04
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	2.49	2.22	+0.27
Martin ratio: Return relative to average drawdown	9.52	9.63	-0.11

XOEF vs. VOO - Sharpe Ratio Comparison

The current XOEF Sharpe Ratio is 1.48, which is comparable to the VOO Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of XOEF 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

XOEF vs. VOO - Drawdown Comparison

The maximum XOEF drawdown since its inception was -7.66%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for XOEF and VOO.

Drawdown Indicators

	XOEF	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-33.99%	+26.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-8.90%	+1.24%
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	-2.87%	-2.01%	-0.86%
Average Drawdown Average peak-to-trough decline	-1.27%	-3.67%	+2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	2.04%	-0.04%

Volatility

XOEF vs. VOO - Volatility Comparison

iShares S&P 500 ex S&P 100 ETF (XOEF) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.32% and 3.36%, 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

	XOEF	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.36%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	10.02%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	12.58%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	16.91%	-4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	18.00%	-5.24%

XOEF vs. VOO - Expense Ratio Comparison

XOEF has a 0.20% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XOEF vs. VOO - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 1.06%, less than VOO's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VOO Vanguard S&P 500 ETF	1.08%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%
XOEF iShares S&P 500 ex S&P 100 ETF	1.06%	0.63%	0.00%	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 XOEF and VOO in my portfolio?

XOEF and VOO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEF or VOO?

VOO has higher volatility (3.36%) compared to XOEF (3.32%). In terms of maximum drawdown, XOEF dropped -7.66% vs VOO's -33.99%.

Which ETF is better, XOEF or VOO?

On 1-year performance, VOO leads with 19.65% vs 18.97% for XOEF. 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, XOEF or VOO?

Over the 1-year period, VOO has performed better with a 19.65% return vs 18.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEF or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.20% for XOEF.

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

VOO has the higher dividend yield at 1.08%, compared with 1.06% for XOEF.

What is the main difference between XOEF and VOO?

XOEF tracks S&P 500 Ex-S&P 100 Select Index, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for XOEF and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.57 vs 1.48), 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.