CAF vs VOO
Morgan Stanley China A Share Fund vs Vanguard S&P 500 ETF
Which is better, CAF or VOO?
Each has led over a different period.
VOO has a lower expense ratio. CAF led over 1Y, VOO over 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 40.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAF | VOO |
|---|---|---|
| Expense Ratio | 1.75% | 0.03%Best |
| AUM | - | $997.4B |
| Dividend Yield | 1.17% | 1.08% |
| Holdings | 69 | 509 |
| YTD Return | +5.31% | +13.37%Best |
| 1Y Return | +24.76%Best | +20.08% |
| 3Y Return (annualized) | +15.67% | +21.29%Best |
| 5Y Return (annualized) | -0.20% | +12.89%Best |
| Volatility (annualized) | 23.9% | 14.1%Best |
| Max Drawdown | -49.0% | -34.3%Best |
| $10,000 over 5 years | $9,900 | $18,335Best |
| Top 10 Weight | 40.9% | 36.4%Best |
| Fund Family | Morgan Stanley Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 28, 2006 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 4, 2026 (16 years).
CAF vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
CAF vs VOO Performance
Morgan Stanley China A Share Fund (CAF) is an ETF from Morgan Stanley Investment Management and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CAF returned +24.76% while VOO returned +20.08%. Year to date, CAF is up 5.31% versus a gain of 13.37% for VOO.
Over three years, CAF compounded at +15.67% per year against +21.29% for VOO; over five years the annualized figures are -0.20% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +13.48% annualized vs +5.59%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CAF has been the more volatile fund, with annualized monthly volatility of 23.9% compared with 14.1% for VOO. 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 -49.0% for CAF and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.36. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CAF charges 1.75% per year while VOO charges 0.03%. On a $10,000 position that is $175 vs $3 annually, a gap of $172 per year that compounds over a long holding period. On income, CAF currently yields 1.17% against 1.08% for VOO.
Holdings Overlap
We hold position weights for 74 holdings in CAF and 505 in VOO, totalling 98.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 74 positions we hold weights for in CAF and 505 in VOO, against full books of 69 and 509.
What only one of them owns
Our book lists 497 positions for VOO that do not appear in our book for CAF (99.5% of the fund), and 1 for CAF that do not appear in VOO (0.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of CAF and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAF or VOO?
CAF has an expense ratio of 1.75% while VOO charges 0.03%. VOO is the cheaper option, by $172 a year on a $10,000 investment.
Which performed better, CAF or VOO?
Over the past year CAF returned +24.76% vs +20.08% for VOO, so CAF leads on 1-year performance. Over the longest common window we track (16 years), CAF annualized +5.59% vs +13.48% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAF or VOO?
CAF has been the more volatile fund at 23.9% annualized versus 14.1% for VOO. Worst drawdown: CAF -49.0% vs VOO -34.3%.
Should I hold both CAF and VOO?
CAF and VOO have a monthly-return correlation of 0.36, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CAF or VOO?
CAF yields 1.17% while VOO yields 1.08%, so CAF currently pays the higher dividend yield.
Is VOO better than CAF?
VOO has a lower expense ratio. CAF led over 1Y, VOO over 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 40.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.