CII vs VOO
BlackRock Enhanced Capital and Income Fund, Inc vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. CII delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | CII | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.91% | 0.03% | |
| AUM | $1.1B | $997.4B | |
| Dividend Yield | 16.48% | 1.08% | |
| Holdings | 147 | 509 | |
| YTD Return | +10.52% | +14.27% | |
| 1Y Return | +30.48% | +21.79% | |
| 3Y Return (annualized) | +21.30% | +22.19% | |
| 5Y Return (annualized) | +13.28% | +13.28% | |
| Volatility (annualized) | 17.9% | 14.2% | |
| Max Drawdown | -64.8% | -34.3% | |
| Fund Family | BlackRock, Inc. (US) | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 27, 2004 | Sep 7, 2010 |
CII vs VOO Performance
BlackRock Enhanced Capital and Income Fund, Inc (CII) is a ETF from BlackRock, Inc. (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CII returned +30.48% while VOO returned +21.79%. Year to date, CII is up 10.52% versus a gain of 14.27% for VOO.
Over three years, CII compounded at +21.30% per year against +22.19% for VOO; over five years the annualized figures are +13.28% and +13.28% respectively. Across the full 16-year window we track, VOO has the edge at +13.59% annualized vs +3.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CII has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 14.2% 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 -64.8% for CII 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CII charges 0.91% per year while VOO charges 0.03%. On a $10,000 position that is $91 vs $3 annually, a gap of $88 per year that compounds over a long holding period. On income, CII currently yields 16.48% against 1.08% for VOO.
Holdings Overlap
CII and VOO share 30 holdings out of 512 unique holdings combined, representing a 34.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CII or VOO?
CII has an expense ratio of 0.91% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
Which performed better, CII or VOO?
Over the past year CII returned +30.48% vs +21.79% for VOO, so CII leads on 1-year performance. Over the longest common window we track (16 years), CII annualized +3.26% vs +13.59% for VOO. Past performance does not guarantee future results.
Which is riskier, CII or VOO?
CII has been the more volatile fund at 17.9% annualized versus 14.2% for VOO. Worst drawdown: CII -64.8% vs VOO -34.3%.
Should I hold both CII and VOO?
CII and VOO have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CII and VOO?
CII and VOO share 30 common holdings with a 34.7% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, CII or VOO?
CII yields 16.48% while VOO yields 1.08%, so CII currently pays the higher dividend yield.
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