ETJ vs VOO
Eaton Vance Risk-Managed Diversified Equity 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 505 holdings.
Side-by-Side Comparison
| Metric | ETJ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.11% | 0.03% | |
| AUM | $544M | $979.0B | |
| Dividend Yield | 8.51% | 1.09% | |
| Holdings | 74 | 509 | |
| YTD Return | +1.89% | +13.72% | |
| 1Y Return | +3.01% | +21.63% | |
| 3Y Return (annualized) | +10.73% | +21.55% | |
| 5Y Return (annualized) | +3.37% | +13.26% | |
| Volatility (annualized) | 12.5% | 14.1% | |
| Max Drawdown | -67.2% | -34.3% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jul 31, 2007 | Sep 7, 2010 |
ETJ vs VOO Performance
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is a ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ETJ returned +3.01% while VOO returned +21.63%. Year to date, ETJ is up 1.89% versus a gain of 13.72% for VOO.
Over three years, ETJ compounded at +10.73% per year against +21.55% for VOO; over five years the annualized figures are +3.37% and +13.26% respectively. Across the full 16-year window we track, VOO has the edge at +13.56% annualized vs -1.90%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 12.5% for ETJ. 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 -67.2% for ETJ 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETJ charges 1.11% per year while VOO charges 0.03%. On a $10,000 position that is $111 vs $3 annually, a gap of $108 per year that compounds over a long holding period. On income, ETJ currently yields 8.51% against 1.09% for VOO.
Holdings Overlap
ETJ and VOO share 39 holdings out of 517 unique holdings combined, representing a 40.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETJ or VOO?
ETJ has an expense ratio of 1.11% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $108 per year of difference.
Which performed better, ETJ or VOO?
Over the past year ETJ returned +3.01% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETJ annualized -1.90% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, ETJ or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.5% for ETJ. Worst drawdown: ETJ -67.2% vs VOO -34.3%.
Should I hold both ETJ and VOO?
ETJ and VOO have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETJ and VOO?
ETJ and VOO share 39 common holdings with a 40.4% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, ETJ or VOO?
ETJ yields 8.51% while VOO yields 1.09%, so ETJ currently pays the higher dividend yield.
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