CWB vs VOO
State Street SPDR Bloomberg Convertible Securities ETF vs Vanguard S&P 500 ETF
Which is better, CWB or VOO?
Convertibles against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window.
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 | CWB | VOO |
|---|---|---|
| Expense Ratio | 0.40% | 0.03%Best |
| AUM | $5.5B | $997.4B |
| Dividend Yield | 1.53% | 1.04% |
| Holdings | 345 | 509 |
| YTD Return | +12.07%Best | +11.01% |
| 1Y Return | +14.55% | +15.60%Best |
| 3Y Return (annualized) | +15.64% | +20.82%Best |
| 5Y Return (annualized) | +4.89% | +12.60%Best |
| Volatility (annualized) | 12.8%Best | 14.1% |
| Max Drawdown | -32.2%Best | -34.3% |
| $10,000 over 5 years | $12,696 | $18,101Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Blend |
| Inception | Apr 14, 2009 | 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 16, 2026 (16 years).
CWB 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.
CWB vs VOO Performance
State Street SPDR Bloomberg Convertible Securities ETF (CWB) is an ETF from State Street Investment Management and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CWB returned +14.55% while VOO returned +15.60%. Year to date, CWB is up 12.07% versus a gain of 11.01% for VOO.
Over three years, CWB compounded at +15.64% per year against +20.82% for VOO; over five years the annualized figures are +4.89% and +12.60% respectively. Across the full 16-year window we track, VOO has the edge at +13.30% annualized vs +6.89%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 12.8% for CWB. 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 -32.2% for CWB 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWB charges 0.40% per year while VOO charges 0.03%. On a $10,000 position that is $40 vs $3 annually, a gap of $37 per year that compounds over a long holding period. On income, CWB currently yields 1.53% against 1.04% for VOO.
Holdings Overlap
At least 5.3% of VOO's money is in holdings CWB also owns.
Stated as a floor: for CWB, our book for it covers 15.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VOO and CWB share little of their money.
17 positions in common, counted across the 30 positions we hold weights for in CWB and 494 in VOO, against full books of 345 and 509.
Top Shared Holdings
| Stock | Weight in CWB | Weight in VOO | Difference |
|---|---|---|---|
| GOOGAlphabet Inc | 2.28% | 2.62% | 0.34% |
| BABoeing Co | 1.82% | 0.26% | 1.56% |
| BACBank of America Corp.: Financials | 0.96% | 0.63% | 0.33% |
| WFCWells Fargo & Co. | 1.11% | 0.41% | 0.70% |
| ORCLOracle Corp - Common | 1.10% | 0.34% | 0.76% |
| SMCISuper Micro Computer Inc Common Stock USD.001 | 1.14% | 0.02% | 1.12% |
| HPEHewlett Packard Enterprise Co | 0.96% | 0.10% | 0.86% |
| NEENextera Energy Inc | 0.53% | 0.28% | 0.25% |
| KKRKkr & Co. Inc. Class a | 0.58% | 0.11% | 0.47% |
| ALBAlbemarle Corp. | 0.63% | 0.02% | 0.61% |
You are not choosing between two funds in isolation.
Whichever of CWB and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CWB or VOO?
CWB has an expense ratio of 0.40% while VOO charges 0.03%. VOO is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, CWB or VOO?
Over the past year CWB returned +14.55% vs +15.60% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), CWB annualized +6.89% vs +13.30% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWB or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.8% for CWB. Worst drawdown: CWB -32.2% vs VOO -34.3%.
Should I hold both CWB and VOO?
CWB and VOO have a monthly-return correlation of 0.85, 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 CWB and VOO?
At least 5.3% of VOO's money is in holdings CWB also owns. Our book for CWB is partial, so the real figure is this or higher. They hold 17 positions in common, counted across the 30 positions we hold weights for in CWB and 494 in VOO.
Which pays a higher dividend, CWB or VOO?
CWB yields 1.53% while VOO yields 1.04%, so CWB currently pays the higher dividend yield.
Is VOO better than CWB?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.