CVRD vs VOO
Madison Covered Call 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 509 holdings.
Side-by-Side Comparison
| Metric | CVRD | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.92% | 0.03% | |
| AUM | $31M | $979.0B | |
| Dividend Yield | 7.98% | 1.09% | |
| Holdings | 61 | 509 | |
| YTD Return | +5.77% | +14.48% | |
| 1Y Return | +8.13% | +22.02% | |
| 3Y Return (annualized) | +7.44% | +21.80% | |
| 5Y Return (annualized) | - | +13.36% | |
| Volatility (annualized) | 9.3% | 14.2% | |
| Max Drawdown | -17.9% | -34.3% | |
| Fund Family | Madison Funds | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Aug 21, 2023 | Sep 7, 2010 |
CVRD vs VOO Performance
Madison Covered Call ETF (CVRD) is a ETF from Madison Funds and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CVRD returned +8.13% while VOO returned +22.02%. Year to date, CVRD is up 5.77% versus a gain of 14.48% for VOO.
Over three years, CVRD compounded at +7.44% per year against +21.80% for VOO. Across the full 3-year window we track, VOO has the edge at +13.61% annualized vs +7.44%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 9.3% for CVRD. 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 -17.9% for CVRD 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVRD charges 0.92% per year while VOO charges 0.03%. On a $10,000 position that is $92 vs $3 annually, a gap of $89 per year that compounds over a long holding period. On income, CVRD currently yields 7.98% against 1.09% for VOO.
Holdings Overlap
CVRD and VOO share 30 holdings out of 508 unique holdings combined, representing a 16.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVRD or VOO?
CVRD has an expense ratio of 0.92% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, CVRD or VOO?
Over the past year CVRD returned +8.13% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (3 years), CVRD annualized +7.44% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, CVRD or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 9.3% for CVRD. Worst drawdown: CVRD -17.9% vs VOO -34.3%.
Should I hold both CVRD and VOO?
CVRD and VOO have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVRD and VOO?
CVRD and VOO share 30 common holdings with a 16.8% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, CVRD or VOO?
CVRD yields 7.98% while VOO yields 1.09%, so CVRD currently pays the higher dividend yield.
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