ETB vs VOO
Eaton Vance Tax-Managed Buy-Write Income Fund 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 | ETB | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.12% | 0.03% | |
| AUM | $391M | $997.4B | |
| Dividend Yield | 7.49% | 1.08% | |
| Holdings | 156 | 509 | |
| YTD Return | +8.37% | +13.20% | |
| 1Y Return | +15.41% | +21.62% | |
| 3Y Return (annualized) | +15.47% | +22.16% | |
| 5Y Return (annualized) | +7.86% | +13.42% | |
| Volatility (annualized) | 17.3% | 14.1% | |
| Max Drawdown | -59.4% | -34.3% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 27, 2005 | Sep 7, 2010 |
ETB vs VOO Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is a ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ETB returned +15.41% while VOO returned +21.62%. Year to date, ETB is up 8.37% versus a gain of 13.20% for VOO.
Over three years, ETB compounded at +15.47% per year against +22.16% for VOO; over five years the annualized figures are +7.86% and +13.42% respectively. Across the full 16-year window we track, VOO has the edge at +13.51% annualized vs +1.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETB has been the more volatile fund, with annualized monthly volatility of 17.3% 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 -59.4% for ETB 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
ETB charges 1.12% per year while VOO charges 0.03%. On a $10,000 position that is $112 vs $3 annually, a gap of $109 per year that compounds over a long holding period. On income, ETB currently yields 7.49% against 1.08% for VOO.
Holdings Overlap
ETB and VOO share 130 holdings out of 520 unique holdings combined, representing a 60.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, ETB or VOO?
ETB has an expense ratio of 1.12% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $109 per year of difference.
Which performed better, ETB or VOO?
Over the past year ETB returned +15.41% vs +21.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETB annualized +1.07% vs +13.51% for VOO. Past performance does not guarantee future results.
Which is riskier, ETB or VOO?
ETB has been the more volatile fund at 17.3% annualized versus 14.1% for VOO. Worst drawdown: ETB -59.4% vs VOO -34.3%.
Should I hold both ETB and VOO?
ETB 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 ETB and VOO?
ETB and VOO share 130 common holdings with a 60.8% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, ETB or VOO?
ETB yields 7.49% while VOO yields 1.08%, so ETB currently pays the higher dividend yield.
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