CFA vs VOO
VictoryShares US 500 Volatility Weighted ETF vs Vanguard S&P 500 ETF
Which is better, CFA or VOO?
VOO has been ahead.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. CFA is less concentrated, with 3.7% of the fund in its ten largest positions against 37.6%.
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 | CFA | VOO |
|---|---|---|
| Expense Ratio | 0.35% | 0.03%Best |
| AUM | $544M | $997.4B |
| Dividend Yield | 1.20% | 1.04% |
| Holdings | 502 | 509 |
| YTD Return | +7.06% | +13.31%Best |
| 1Y Return | +8.60% | +17.07%Best |
| 3Y Return (annualized) | +13.68% | +22.72%Best |
| 5Y Return (annualized) | +7.32% | +13.19%Best |
| Volatility (annualized) | 14.9% | 14.8%Best |
| Max Drawdown | -37.9% | -34.3%Best |
| $10,000 over 5 years | $14,237 | $18,580Best |
| Top 10 Weight | 3.7%Best | 37.6% |
| Fund Family | Victory Capital Management Inc. | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 1, 2014 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Jul 2, 2014 to Sep 23, 2026 (12.2 years).
CFA 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 12.2 years both funds cover.
CFA vs VOO Performance
VictoryShares US 500 Volatility Weighted ETF (CFA) is an ETF from Victory Capital Management Inc. and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CFA returned +8.60% while VOO returned +17.07%. Year to date, CFA is up 7.06% versus a gain of 13.31% for VOO.
Over three years, CFA compounded at +13.68% per year against +22.72% for VOO; over five years the annualized figures are +7.32% and +13.19% respectively. Across the full 12-year window we track, VOO has the edge at +12.52% annualized vs +9.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CFA has been the more volatile fund, with annualized monthly volatility of 14.9% compared with 14.8% 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 -37.9% for CFA 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CFA charges 0.35% per year while VOO charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, CFA currently yields 1.20% against 1.04% for VOO.
Holdings Overlap
82.6% of CFA's money is in holdings VOO also owns. 91.1% of VOO's money is in holdings CFA also owns.
Most of VOO is already inside CFA. Owning both mostly buys the same companies twice.
397 positions in common, counted across the 500 positions we hold weights for in CFA and 494 in VOO, against full books of 502 and 509.
What only one of them owns
Our book lists 93 positions for VOO that do not appear in our book for CFA (8.3% of the fund), and 99 for CFA that do not appear in VOO (16.5%).
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.
Top Shared Holdings
| Stock | Weight in CFA | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 0.20% | 7.55% | 7.35% |
| AAPLApple, Inc | 0.30% | 7.05% | 6.75% |
| MSFTMicrosoft Corp | 0.30% | 5.36% | 5.06% |
| AMZNAmazon.Com Inc | 0.22% | 4.13% | 3.91% |
| GOOGLAlphabet Inc,class A | 0.22% | 3.24% | 3.02% |
| AVGOBroadcom Inc | 0.15% | 2.86% | 2.71% |
| METAMeta Platforms Inc | 0.15% | 1.90% | 1.75% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 0.40% | 1.46% | 1.06% |
| JPMJpmorgan Chase | 0.30% | 1.46% | 1.16% |
| MUMicron Technology, Inc. | 0.21% | 1.44% | 1.23% |
91.1% of VOO is already inside CFA.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CFA or VOO?
CFA has an expense ratio of 0.35% while VOO charges 0.03%. VOO is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, CFA or VOO?
Over the past year CFA returned +8.60% vs +17.07% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (12 years), CFA annualized +9.39% vs +12.52% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CFA or VOO?
CFA has been the more volatile fund at 14.9% annualized versus 14.8% for VOO. Worst drawdown: CFA -37.9% vs VOO -34.3%.
Should I hold both CFA and VOO?
CFA and VOO have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between CFA and VOO?
91.1% of VOO's money is in holdings CFA also owns. 91.1% of VOO's is in holdings CFA also owns. They hold 397 positions in common, counted across the 500 positions we hold weights for in CFA and 494 in VOO.
Which pays a higher dividend, CFA or VOO?
CFA yields 1.20% while VOO yields 1.04%, so CFA currently pays the higher dividend yield.
Is VOO better than CFA?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. CFA is less concentrated, with 3.7% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.