ETW vs VOO
ETW vs VOO
Eaton Vance Tax-Managed Global 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 | ETW | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.03% | |
| AUM | $936M | $979.0B | |
| Dividend Yield | 7.41% | 1.09% | |
| Holdings | 291 | 509 | |
| YTD Return | +10.92% | +13.80% | |
| 1Y Return | +20.02% | +23.71% | |
| 3Y Return (annualized) | +15.89% | +21.50% | |
| 5Y Return (annualized) | +6.21% | +13.44% | |
| Volatility (annualized) | 16.9% | 14.1% | |
| Max Drawdown | -72.8% | -34.3% | |
| Fund Family | Eaton Vance | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2005 | Sep 7, 2010 |
ETW vs VOO Performance
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) is a ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ETW returned +20.02% while VOO returned +23.71%. Year to date, ETW is up 10.92% versus a gain of 13.80% for VOO.
Over three years, ETW compounded at +15.89% per year against +21.50% for VOO; over five years the annualized figures are +6.21% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs -1.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETW has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -72.8% for ETW 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETW charges 1.10% per year while VOO charges 0.03%. On a $10,000 position that is $110 vs $3 annually, a gap of $107 per year that compounds over a long holding period. On income, ETW currently yields 7.41% against 1.09% for VOO.
Holdings Overlap
ETW and VOO share 110 holdings out of 654 unique holdings combined, representing a 41.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ETW | Weight in VOO | Difference |
|---|---|---|---|
| NVDA | 4.84% | 7.51% | 2.67% |
| AAPL | 4.43% | 6.59% | 2.16% |
| MSFT | 3.30% | 4.30% | 1.00% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings ETW shares with VOO Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, ETW or VOO?
ETW has an expense ratio of 1.10% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $107 per year of difference.
Which performed better, ETW or VOO?
Over the past year ETW returned +20.02% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETW annualized -1.13% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, ETW or VOO?
ETW has been the more volatile fund at 16.9% annualized versus 14.1% for VOO. Worst drawdown: ETW -72.8% vs VOO -34.3%.
Should I hold both ETW and VOO?
ETW and VOO have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETW and VOO?
ETW and VOO share 110 common holdings with a 41.3% weight overlap. Combined, they hold 654 unique securities.
Which pays a higher dividend, ETW or VOO?
ETW yields 7.41% while VOO yields 1.09%, so ETW currently pays the higher dividend yield.
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