DODGX vs VOO
Dodge & Cox Stock Fund vs Vanguard S&P 500 ETF
Which is better, DODGX or VOO?
Large Cap Value against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. DODGX is less concentrated, with 28.1% of the fund in its ten largest positions against 36.4%.
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 | DODGX | VOO |
|---|---|---|
| Expense Ratio | 0.51% | 0.03%Best |
| AUM | $79.3B | $997.4B |
| Dividend Yield | 8.60% | 1.04% |
| Holdings | 91 | 509 |
| YTD Price Return | +7.01% | +10.88%Best |
| 1Y Price Return | -93.57% | +16.17%Best |
| 3Y Price Return (annualized) | -57.59% | +19.14%Best |
| 5Y Price Return (annualized) | -40.60% | +11.21%Best |
| Volatility (annualized) | 45.0% | 15.8%Best |
| Max Drawdown | -94.5% | -25.4%Best |
| $10,000 over 5 years | $739 | $17,011Best |
| Top 10 Weight | 28.1%Best | 36.4% |
| Fund Family | Dodge & Cox Funds | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Jan 4, 1965 | Sep 7, 2010 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for DODGX. Both funds are measured the same way, so the comparison holds. DODGX yields 8.60% and VOO 1.04% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 9, 2026 (5 years).
DODGX 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 5 years both funds cover. Prices exclude distributions, on both funds alike.
DODGX vs VOO Performance
Dodge & Cox Stock Fund (DODGX) is a mutual fund from Dodge & Cox Funds and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year DODGX returned -93.57% while VOO returned +16.17%. Year to date, DODGX is up 7.01% versus a gain of 10.88% for VOO.
Over three years, DODGX compounded at -57.59% per year against +19.14% for VOO; over five years the annualized figures are -40.60% and +11.21% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DODGX has been the more volatile fund, with annualized monthly volatility of 45.0% compared with 15.8% 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 -94.5% for DODGX and -25.4% 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 0.25. They move largely independently of each other.
Fees and Cost Over Time
DODGX charges 0.51% per year while VOO charges 0.03%. On a $10,000 position that is $51 vs $3 annually, a gap of $48 per year that compounds over a long holding period. On income, DODGX currently yields 8.60% against 1.04% for VOO.
Structure and taxes
DODGX is a mutual fund and VOO is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
75.6% of DODGX's money is in holdings VOO also owns. 19.2% of VOO's money is in holdings DODGX also owns.
Most of DODGX is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 91 days apart, DODGX as of Mar 31, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
58 positions in common, counted across the 86 positions we hold weights for in DODGX and 505 in VOO, against full books of 91 and 509.
What only one of them owns
Our book lists 438 positions for VOO that do not appear in our book for DODGX (80.2% of the fund), and 20 for DODGX that do not appear in VOO (12.7%).
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 DODGX | Weight in VOO | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.47% | 4.30% | 1.83% |
| AMZNAmazon.Com Inc | 1.77% | 3.62% | 1.85% |
| GOOGAlphabet Inc | 2.09% | 2.59% | 0.50% |
| RTXRaytheon Technologies Corp | 4.06% | 0.40% | 3.66% |
| SCHWCharles Schwab Corp. | 4.21% | 0.23% | 3.98% |
| METAMeta Platforms, Inc. | 1.74% | 1.92% | 0.18% |
| JCIJohnson Controls International Plc | 3.22% | 0.14% | 3.08% |
| OXYOccidental Petroleum Corp. | 2.87% | 0.05% | 2.82% |
| GILDGilead Sciences Inc | 2.20% | 0.24% | 1.96% |
| METMetlife Inc. | 2.32% | 0.07% | 2.25% |
75.6% of DODGX 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, DODGX or VOO?
DODGX has an expense ratio of 0.51% while VOO charges 0.03%. VOO is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, DODGX or VOO?
Over the past year DODGX returned -93.57% vs +16.17% for VOO, so VOO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DODGX or VOO?
DODGX has been the more volatile fund at 45.0% annualized versus 15.8% for VOO. Worst drawdown: DODGX -94.5% vs VOO -25.4%.
Should I hold both DODGX and VOO?
DODGX and VOO have a monthly-return correlation of 0.25, 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 DODGX and VOO?
75.6% of DODGX's money is in holdings VOO also owns. 19.2% of VOO's is in holdings DODGX also owns. They hold 58 positions in common, counted across the 86 positions we hold weights for in DODGX and 505 in VOO.
Which pays a higher dividend, DODGX or VOO?
DODGX yields 8.60% while VOO yields 1.04%, so DODGX currently pays the higher dividend yield.
Is it better to hold DODGX or VOO in a taxable account?
VOO is an ETF and DODGX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VOO better than DODGX?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. DODGX is less concentrated, with 28.1% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.