ETV vs VOO
Eaton Vance Tax-Managed Buy-Write Opportunities 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 | ETV | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.08% | 0.03% | |
| AUM | $1.3B | $979.0B | |
| Dividend Yield | 7.53% | 1.09% | |
| Holdings | 174 | 509 | |
| YTD Return | +11.55% | +13.44% | |
| 1Y Return | +18.43% | +22.62% | |
| 3Y Return (annualized) | +14.47% | +21.47% | |
| 5Y Return (annualized) | +7.02% | +13.27% | |
| Volatility (annualized) | 15.4% | 14.1% | |
| Max Drawdown | -59.8% | -34.3% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 27, 2005 | Sep 7, 2010 |
ETV vs VOO Performance
Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) is a ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ETV returned +18.43% while VOO returned +22.62%. Year to date, ETV is up 11.55% versus a gain of 13.44% for VOO.
Over three years, ETV compounded at +14.47% per year against +21.47% for VOO; over five years the annualized figures are +7.02% and +13.27% respectively. Across the full 16-year window we track, VOO has the edge at +13.55% annualized vs +0.94%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETV has been the more volatile fund, with annualized monthly volatility of 15.4% 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 -59.8% for ETV 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETV charges 1.08% per year while VOO charges 0.03%. On a $10,000 position that is $108 vs $3 annually, a gap of $105 per year that compounds over a long holding period. On income, ETV currently yields 7.53% against 1.09% for VOO.
Holdings Overlap
ETV and VOO share 134 holdings out of 522 unique holdings combined, representing a 56.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, ETV or VOO?
ETV has an expense ratio of 1.08% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $105 per year of difference.
Which performed better, ETV or VOO?
Over the past year ETV returned +18.43% vs +22.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETV annualized +0.94% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, ETV or VOO?
ETV has been the more volatile fund at 15.4% annualized versus 14.1% for VOO. Worst drawdown: ETV -59.8% vs VOO -34.3%.
Should I hold both ETV and VOO?
ETV and VOO have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETV and VOO?
ETV and VOO share 134 common holdings with a 56.8% weight overlap. Combined, they hold 522 unique securities.
Which pays a higher dividend, ETV or VOO?
ETV yields 7.53% while VOO yields 1.09%, so ETV currently pays the higher dividend yield.
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