AMAX vs VOO
Adaptive Hedged Multi-Asset Income ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | AMAX | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.36% | 0.03% | |
| AUM | $68M | $979.0B | |
| Dividend Yield | 11.85% | 1.09% | |
| Holdings | 29 | 509 | |
| YTD Return | +3.16% | +14.48% | |
| 1Y Return | +5.98% | +22.02% | |
| 3Y Return (annualized) | +8.60% | +21.80% | |
| 5Y Return (annualized) | - | +13.36% | |
| Volatility (annualized) | 9.3% | 14.2% | |
| Max Drawdown | -16.3% | -34.3% | |
| Fund Family | Adaptive ETFs | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 2, 2009 | Sep 7, 2010 |
AMAX vs VOO Performance
Adaptive Hedged Multi-Asset Income ETF (AMAX) is a ETF from Adaptive ETFs and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year AMAX returned +5.98% while VOO returned +22.02%. Year to date, AMAX is up 3.16% versus a gain of 14.48% for VOO.
Over three years, AMAX compounded at +8.60% per year against +21.80% for VOO. Across the full 5-year window we track, VOO has the edge at +13.61% annualized vs +3.22%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 9.3% for AMAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.3% for AMAX and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AMAX charges 1.36% per year while VOO charges 0.03%. On a $10,000 position that is $136 vs $3 annually, a gap of $133 per year that compounds over a long holding period. On income, AMAX currently yields 11.85% against 1.09% for VOO.
Holdings Overlap
AMAX and VOO share 0 holdings out of 520 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AMAX or VOO?
AMAX has an expense ratio of 1.36% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $133 per year of difference.
Which performed better, AMAX or VOO?
Over the past year AMAX returned +5.98% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (5 years), AMAX annualized +3.22% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, AMAX or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 9.3% for AMAX. Worst drawdown: AMAX -16.3% vs VOO -34.3%.
Should I hold both AMAX and VOO?
AMAX and VOO have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AMAX and VOO?
AMAX and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, AMAX or VOO?
AMAX yields 11.85% while VOO yields 1.09%, so AMAX currently pays the higher dividend yield.
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