ETB vs VOO
Eaton Vance Tax-Managed Buy-Write Income Fund vs Vanguard S&P 500 ETF
Which is better, ETB or VOO?
Multi Alternative against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 39.1%.
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 | ETB | VOO |
|---|---|---|
| Expense Ratio | 1.12% | 0.03%Best |
| AUM | $391M | $997.4B |
| Dividend Yield | 7.44% | 1.04% |
| Holdings | 156 | 509 |
| YTD Return | +7.27% | +11.98%Best |
| 1Y Return | +11.98% | +16.45%Best |
| 3Y Return (annualized) | +15.70% | +21.19%Best |
| 5Y Return (annualized) | +7.54% | +12.95%Best |
| Volatility (annualized) | 15.2% | 14.1%Best |
| Max Drawdown | -47.3% | -34.3%Best |
| $10,000 over 5 years | $14,383 | $18,384Best |
| Top 10 Weight | 39.1% | 37.6%Best |
| Fund Family | Eaton Vance | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Apr 27, 2005 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 14, 2026 (16 years).
ETB 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.
ETB vs VOO Performance
Eaton Vance Tax-Managed Buy-Write Income Fund (ETB) is an ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year ETB returned +11.98% while VOO returned +16.45%. Year to date, ETB is up 7.27% versus a gain of 11.98% for VOO.
Over three years, ETB compounded at +15.70% per year against +21.19% for VOO; over five years the annualized figures are +7.54% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.37% annualized vs +3.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETB has been the more volatile fund, with annualized monthly volatility of 15.2% 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 -47.3% for ETB 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 0.79. 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 7.44% against 1.04% for VOO.
Holdings Overlap
99.3% of ETB's money is in holdings VOO also owns. 68.0% of VOO's money is in holdings ETB also owns.
Most of ETB is already inside VOO. Owning both mostly buys the same companies twice.
124 positions in common, counted across the 131 positions we hold weights for in ETB and 494 in VOO, against full books of 156 and 509.
What only one of them owns
Our book lists 363 positions for VOO that do not appear in our book for ETB (31.1% of the fund), and 7 for ETB that do not appear in VOO (0.5%).
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 ETB | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.77% | 7.55% | 0.22% |
| AAPLApple, Inc | 7.06% | 7.05% | 0.01% |
| MSFTMicrosoft Corp | 4.84% | 5.36% | 0.52% |
| AMZNAmazon.Com Inc | 4.04% | 4.13% | 0.09% |
| GOOGLAlphabet Inc,class A | 3.41% | 3.24% | 0.17% |
| AVGOBroadcom Inc | 3.19% | 2.86% | 0.33% |
| GOOGAlphabet Inc | 2.63% | 2.62% | 0.01% |
| METAMeta Platforms Inc | 2.07% | 1.90% | 0.17% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.94% | 1.46% | 0.48% |
| AMDAdvanced Micro Devices Inc | 2.17% | 1.21% | 0.96% |
99.3% of ETB 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, ETB or VOO?
ETB has an expense ratio of 1.12% while VOO charges 0.03%. VOO is the cheaper option, by $109 a year on a $10,000 investment.
Which performed better, ETB or VOO?
Over the past year ETB returned +11.98% vs +16.45% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETB annualized +3.22% vs +13.37% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETB or VOO?
ETB has been the more volatile fund at 15.2% annualized versus 14.1% for VOO. Worst drawdown: ETB -47.3% vs VOO -34.3%.
Should I hold both ETB and VOO?
ETB and VOO have a monthly-return correlation of 0.79, 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 ETB and VOO?
99.3% of ETB's money is in holdings VOO also owns. 68.0% of VOO's is in holdings ETB also owns. They hold 124 positions in common, counted across the 131 positions we hold weights for in ETB and 494 in VOO.
Which pays a higher dividend, ETB or VOO?
ETB yields 7.44% while VOO yields 1.04%, so ETB currently pays the higher dividend yield.
Is VOO better than ETB?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 39.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.