CZA vs VOO
Invesco Zacks Mid-Cap 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 505 holdings.
Side-by-Side Comparison
| Metric | CZA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $189M | $979.0B | |
| Dividend Yield | 1.41% | 1.09% | |
| Holdings | 104 | 509 | |
| YTD Return | +13.90% | +13.79% | |
| 1Y Return | +21.93% | +23.01% | |
| 3Y Return (annualized) | +13.64% | +21.78% | |
| 5Y Return (annualized) | +7.62% | +13.39% | |
| Volatility (annualized) | 16.6% | 14.1% | |
| Max Drawdown | -53.2% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Apr 2, 2007 | Sep 7, 2010 |
CZA vs VOO Performance
Invesco Zacks Mid-Cap ETF (CZA) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CZA returned +21.93% while VOO returned +23.01%. Year to date, CZA is up 13.90% versus a gain of 13.79% for VOO.
Over three years, CZA compounded at +13.64% per year against +21.78% for VOO; over five years the annualized figures are +7.62% and +13.39% respectively. Across the full 16-year window we track, VOO has the edge at +13.57% annualized vs +9.76%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CZA has been the more volatile fund, with annualized monthly volatility of 16.6% 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 -53.2% for CZA 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 0.88. 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 1.41% against 1.09% for VOO.
Holdings Overlap
CZA and VOO share 48 holdings out of 559 unique holdings combined, representing a 2.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CZA or VOO?
Over the past year CZA returned +21.93% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), CZA annualized +9.76% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, CZA or VOO?
CZA has been the more volatile fund at 16.6% annualized versus 14.1% for VOO. Worst drawdown: CZA -53.2% vs VOO -34.3%.
Should I hold both CZA and VOO?
CZA and VOO have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CZA and VOO?
CZA and VOO share 48 common holdings with a 2.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, CZA or VOO?
CZA yields 1.41% while VOO yields 1.09%, so CZA currently pays the higher dividend yield.
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