CZA vs VOO
Invesco Zacks Mid-Cap ETF vs Vanguard S&P 500 ETF
Which is better, CZA or VOO?
Mid Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. CZA is less concentrated, with 19.7% of the fund in its ten largest positions against 37.6%.
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 | CZA | VOO |
|---|---|---|
| Expense Ratio | 0.69% | 0.03%Best |
| AUM | $180M | $997.4B |
| Dividend Yield | 1.38% | 1.04% |
| Holdings | 103 | 509 |
| YTD Return | +8.36% | +14.14%Best |
| 1Y Return | +12.54% | +17.31%Best |
| 3Y Return (annualized) | +13.01% | +23.16%Best |
| 5Y Return (annualized) | +7.29% | +13.85%Best |
| Volatility (annualized) | 15.1% | 14.1%Best |
| Max Drawdown | -46.2% | -34.3%Best |
| $10,000 over 5 years | $14,217 | $19,128Best |
| Top 10 Weight | 19.7%Best | 37.6% |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Apr 2, 2007 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 10, 2010 to Sep 21, 2026 (16 years).
CZA 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.
CZA vs VOO Performance
Invesco Zacks Mid-Cap ETF (CZA) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year CZA returned +12.54% while VOO returned +17.31%. Year to date, CZA is up 8.36% versus a gain of 14.14% for VOO.
Over three years, CZA compounded at +13.01% per year against +23.16% for VOO; over five years the annualized figures are +7.29% and +13.85% respectively. Across the full 16-year window we track, VOO has the edge at +13.49% annualized vs +11.47%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CZA has been the more volatile fund, with annualized monthly volatility of 15.1% 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 -46.2% for CZA 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CZA charges 0.69% per year while VOO charges 0.03%. On a $10,000 position that is $69 vs $3 annually, a gap of $66 per year that compounds over a long holding period. On income, CZA currently yields 1.38% against 1.04% for VOO.
Holdings Overlap
55.3% of CZA's money is in holdings VOO also owns. 1.7% of VOO's money is in holdings CZA also owns.
The two portfolios partly overlap.
42 positions in common, counted across the 101 positions we hold weights for in CZA and 494 in VOO, against full books of 103 and 509.
What only one of them owns
Our book lists 446 positions for VOO that do not appear in our book for CZA (97.5% of the fund), and 51 for CZA that do not appear in VOO (34.8%).
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 CZA | Weight in VOO | Difference |
|---|---|---|---|
| BDXBecton Dickinson And Co. | 2.45% | 0.07% | 2.38% |
| PRUPrudential Financial Inc | 2.04% | 0.07% | 1.97% |
| AAgilent Technologies Inc | 2.02% | 0.06% | 1.96% |
| AIGAmerican International Gr | 1.99% | 0.06% | 1.93% |
| IQVI Q V I A Holdings Inc. | 1.95% | 0.06% | 1.89% |
| SYYSysco Corp | 1.87% | 0.06% | 1.81% |
| HIGHartford Financial Services Group Inc. | 1.84% | 0.06% | 1.78% |
| PEGPublic Svc Ent Group | 1.75% | 0.06% | 1.69% |
| NTRSNorthern Trust Corp. | 1.67% | 0.05% | 1.62% |
| ACGLArch Capital Group Ltd 5.450% | 1.64% | 0.05% | 1.59% |
55.3% of CZA 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, CZA or VOO?
CZA has an expense ratio of 0.69% while VOO charges 0.03%. VOO is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, CZA or VOO?
Over the past year CZA returned +12.54% vs +17.31% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), CZA annualized +11.47% vs +13.49% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CZA or VOO?
CZA has been the more volatile fund at 15.1% annualized versus 14.1% for VOO. Worst drawdown: CZA -46.2% vs VOO -34.3%.
Should I hold both CZA and VOO?
CZA and VOO have a monthly-return correlation of 0.88, 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 CZA and VOO?
55.3% of CZA's money is in holdings VOO also owns. 1.7% of VOO's is in holdings CZA also owns. They hold 42 positions in common, counted across the 101 positions we hold weights for in CZA and 494 in VOO.
Which pays a higher dividend, CZA or VOO?
CZA yields 1.38% while VOO yields 1.04%, so CZA currently pays the higher dividend yield.
Is VOO better than CZA?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. CZA is less concentrated, with 19.7% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.