CSQ vs VOO
Calamos Strategic Total Return Fund vs Vanguard S&P 500 ETF
Which is better, CSQ or VOO?
Equity-oriented Balanced against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94.
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 | CSQ | VOO |
|---|---|---|
| Expense Ratio | 2.03% | 0.03%Best |
| AUM | $5.2B | $997.4B |
| Dividend Yield | 2.35% | 1.04% |
| Holdings | 816 | 509 |
| YTD Return | +14.97%Best | +14.14% |
| 1Y Return | +15.18% | +17.31%Best |
| 3Y Return (annualized) | +21.77% | +23.16%Best |
| 5Y Return (annualized) | +11.28% | +13.85%Best |
| Volatility (annualized) | 18.9% | 14.1%Best |
| Max Drawdown | -48.6% | -34.3%Best |
| $10,000 over 5 years | $17,064 | $19,128Best |
| Fund Family | Calamos Investments | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Mar 26, 2004 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 21, 2026 (16 years).
CSQ 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.
CSQ vs VOO Performance
Calamos Strategic Total Return Fund (CSQ) is an ETF from Calamos Investments and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CSQ returned +15.18% while VOO returned +17.31%. Year to date, CSQ is up 14.97% versus a gain of 14.14% for VOO.
Over three years, CSQ compounded at +21.77% per year against +23.16% for VOO; over five years the annualized figures are +11.28% and +13.85% respectively. Across the full 16-year window we track, VOO has the edge at +13.49% annualized vs +8.64%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CSQ has been the more volatile fund, with annualized monthly volatility of 18.9% 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 -48.6% for CSQ 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CSQ charges 2.03% per year while VOO charges 0.03%. On a $10,000 position that is $203 vs $3 annually, a gap of $200 per year that compounds over a long holding period. On income, CSQ currently yields 2.35% against 1.04% for VOO.
Holdings Overlap
At least 66.8% of VOO's money is in holdings CSQ also owns.
Stated as a floor: for CSQ, our book for it covers 93.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 181 days apart, CSQ as of Jan 31, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
145 positions in common, counted across the 452 positions we hold weights for in CSQ and 494 in VOO, against full books of 816 and 509.
Top Shared Holdings
| Stock | Weight in CSQ | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.26% | 7.55% | 2.29% |
| AAPLApple, Inc | 4.77% | 7.05% | 2.28% |
| MSFTMicrosoft Corp | 4.08% | 5.36% | 1.28% |
| GOOGLAlphabet Inc,class A | 4.49% | 3.24% | 1.25% |
| AMZNAmazon.Com Inc | 3.31% | 4.13% | 0.82% |
| AVGOBroadcom Inc | 2.12% | 2.86% | 0.74% |
| METAMeta Platforms Inc | 2.18% | 1.90% | 0.28% |
| TSLATesla Inc | 1.68% | 1.36% | 0.32% |
| LLYEli Lilly & Co. | 1.31% | 1.41% | 0.10% |
| JPMJpmorgan Chase | 1.24% | 1.46% | 0.22% |
66.8% of VOO is already inside CSQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, CSQ or VOO?
CSQ has an expense ratio of 2.03% while VOO charges 0.03%. VOO is the cheaper option, by $200 a year on a $10,000 investment.
Which performed better, CSQ or VOO?
Over the past year CSQ returned +15.18% vs +17.31% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), CSQ annualized +8.64% vs +13.49% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CSQ or VOO?
CSQ has been the more volatile fund at 18.9% annualized versus 14.1% for VOO. Worst drawdown: CSQ -48.6% vs VOO -34.3%.
Should I hold both CSQ and VOO?
CSQ and VOO have a monthly-return correlation of 0.94, 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 CSQ and VOO?
At least 66.8% of VOO's money is in holdings CSQ also owns. Our book for CSQ is partial, so the real figure is this or higher. They hold 145 positions in common, counted across the 452 positions we hold weights for in CSQ and 494 in VOO.
Which pays a higher dividend, CSQ or VOO?
CSQ yields 2.35% while VOO yields 1.04%, so CSQ currently pays the higher dividend yield.
Is VOO better than CSQ?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.