CEFS vs VOO
Saba Closed-End Funds 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 505 holdings.
Side-by-Side Comparison
| Metric | CEFS | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 4.29% | 0.03% | |
| AUM | $426M | $979.0B | |
| Dividend Yield | 6.08% | 1.09% | |
| Holdings | 68 | 509 | |
| YTD Return | +11.65% | +13.79% | |
| 1Y Return | +16.34% | +23.01% | |
| 3Y Return (annualized) | +18.54% | +21.78% | |
| 5Y Return (annualized) | +12.64% | +13.39% | |
| Volatility (annualized) | 14.3% | 14.1% | |
| Max Drawdown | -39.0% | -34.3% | |
| Fund Family | Saba Capital | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Mar 20, 2017 | Sep 7, 2010 |
CEFS vs VOO Performance
Saba Closed-End Funds ETF (CEFS) is a ETF from Saba Capital and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CEFS returned +16.34% while VOO returned +23.01%. Year to date, CEFS is up 11.65% versus a gain of 13.79% for VOO.
Over three years, CEFS compounded at +18.54% per year against +21.78% for VOO; over five years the annualized figures are +12.64% and +13.39% respectively. Across the full 9-year window we track, VOO has the edge at +13.57% annualized vs +11.65%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CEFS has been the more volatile fund, with annualized monthly volatility of 14.3% 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 -39.0% for CEFS 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CEFS charges 4.29% per year while VOO charges 0.03%. On a $10,000 position that is $429 vs $3 annually, a gap of $426 per year that compounds over a long holding period. On income, CEFS currently yields 6.08% against 1.09% for VOO.
Holdings Overlap
CEFS and VOO share 0 holdings out of 565 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, CEFS or VOO?
CEFS has an expense ratio of 4.29% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $426 per year of difference.
Which performed better, CEFS or VOO?
Over the past year CEFS returned +16.34% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (9 years), CEFS annualized +11.65% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, CEFS or VOO?
CEFS has been the more volatile fund at 14.3% annualized versus 14.1% for VOO. Worst drawdown: CEFS -39.0% vs VOO -34.3%.
Should I hold both CEFS and VOO?
CEFS and VOO have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CEFS and VOO?
CEFS and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 565 unique securities.
Which pays a higher dividend, CEFS or VOO?
CEFS yields 6.08% while VOO yields 1.09%, so CEFS currently pays the higher dividend yield.
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