CII vs VOO
BlackRock Enhanced Capital and Income Fund, Inc vs Vanguard S&P 500 ETF
Which is better, CII or VOO?
Multi Alternative against Large Cap Blend.
VOO has a lower expense ratio. CII 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 46.5%.
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 | CII | VOO |
|---|---|---|
| Expense Ratio | 0.91% | 0.03%Best |
| AUM | $1.1B | $997.4B |
| Dividend Yield | 16.48% | 1.08% |
| Holdings | 147 | 509 |
| YTD Return | +10.30% | +13.37%Best |
| 1Y Return | +27.39%Best | +20.08% |
| 3Y Return (annualized) | +19.78% | +21.29%Best |
| 5Y Return (annualized) | +12.82% | +12.89%Best |
| Volatility (annualized) | 16.3% | 14.1%Best |
| Max Drawdown | -41.3% | -34.3%Best |
| $10,000 over 5 years | $18,278 | $18,335Best |
| Top 10 Weight | 46.5% | 36.4%Best |
| Fund Family | BlackRock, Inc. (US) | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Apr 27, 2004 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 4, 2026 (16 years).
CII 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.
CII vs VOO Performance
BlackRock Enhanced Capital and Income Fund, Inc (CII) is an ETF from BlackRock, Inc. (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CII returned +27.39% while VOO returned +20.08%. Year to date, CII is up 10.30% versus a gain of 13.37% for VOO.
Over three years, CII compounded at +19.78% per year against +21.29% for VOO; over five years the annualized figures are +12.82% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +13.48% annualized vs +6.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CII has been the more volatile fund, with annualized monthly volatility of 16.3% 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 -41.3% for CII 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 0.87. 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
87.7% of CII's money is in holdings VOO also owns. 39.6% of VOO's money is in holdings CII also owns.
Most of CII is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 91 days apart, CII as of Mar 31, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
30 positions in common, counted across the 37 positions we hold weights for in CII and 505 in VOO, against full books of 147 and 509.
What only one of them owns
Our book lists 467 positions for VOO that do not appear in our book for CII (59.8% of the fund), and 6 for CII that do not appear in VOO (11.4%).
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 CII | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.11% | 7.51% | 0.40% |
| AAPLApple, Inc | 3.72% | 6.59% | 2.87% |
| AMZNAmazon.Com Inc | 6.53% | 3.62% | 2.91% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.31% | 4.30% | 1.01% |
| GOOGLAlphabet Inc.Class A | 4.90% | 3.25% | 1.65% |
| METAMeta Platform Inc | 4.60% | 1.92% | 2.68% |
| AVGOBroadcom Inc Sr Un**exchange & Consent* | 2.60% | 2.77% | 0.17% |
| MUMicron Technology, Inc. | 2.64% | 2.02% | 0.62% |
| VVisa Inc Class A | 3.24% | 0.87% | 2.37% |
| CIENCiena Corp | 3.92% | 0.11% | 3.81% |
87.7% of CII is already inside VOO.
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, CII or VOO?
CII has an expense ratio of 0.91% while VOO charges 0.03%. VOO is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, CII or VOO?
Over the past year CII returned +27.39% vs +20.08% for VOO, so CII leads on 1-year performance. Over the longest common window we track (16 years), CII annualized +6.33% vs +13.48% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CII or VOO?
CII has been the more volatile fund at 16.3% annualized versus 14.1% for VOO. Worst drawdown: CII -41.3% vs VOO -34.3%.
Should I hold both CII and VOO?
CII and VOO have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CII and VOO?
87.7% of CII's money is in holdings VOO also owns. 39.6% of VOO's is in holdings CII also owns. They hold 30 positions in common, counted across the 37 positions we hold weights for in CII and 505 in VOO.
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.
Is VOO better than CII?
VOO has a lower expense ratio. CII 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 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.