ETY vs VOO
Eaton Vance Tax-Managed Diversified Equity Income Fund vs Vanguard S&P 500 ETF
Which is better, ETY or VOO?
VOO has been ahead.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 48.9%.
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 | ETY | VOO |
|---|---|---|
| Expense Ratio | 1.06% | 0.03%Best |
| AUM | $1.8B | $997.4B |
| Dividend Yield | 7.64% | 1.08% |
| Holdings | 61 | 509 |
| YTD Return | -0.26% | +13.37%Best |
| 1Y Return | -2.17% | +20.08%Best |
| 3Y Return (annualized) | +14.54% | +21.29%Best |
| 5Y Return (annualized) | +8.25% | +12.89%Best |
| Volatility (annualized) | 16.0% | 14.1%Best |
| Max Drawdown | -43.6% | -34.3%Best |
| $10,000 over 5 years | $14,864 | $18,335Best |
| Top 10 Weight | 48.9% | 36.4%Best |
| Fund Family | Eaton Vance | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 27, 2006 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 4, 2026 (16 years).
ETY 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.
ETY vs VOO Performance
Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year ETY returned -2.17% while VOO returned +20.08%. Year to date, ETY is down 0.26% versus a gain of 13.37% for VOO.
Over three years, ETY compounded at +14.54% per year against +21.29% for VOO; over five years the annualized figures are +8.25% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +13.48% annualized vs +4.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETY has been the more volatile fund, with annualized monthly volatility of 16.0% 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 -43.6% for ETY 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ETY charges 1.06% per year while VOO charges 0.03%. On a $10,000 position that is $106 vs $3 annually, a gap of $103 per year that compounds over a long holding period. On income, ETY currently yields 7.64% against 1.08% for VOO.
Holdings Overlap
87.4% of ETY's money is in holdings VOO also owns. 40.3% of VOO's money is in holdings ETY also owns.
Most of ETY is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 123 days apart, ETY as of Feb 27, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
38 positions in common, counted across the 49 positions we hold weights for in ETY and 505 in VOO, against full books of 61 and 509.
What only one of them owns
Our book lists 459 positions for VOO that do not appear in our book for ETY (59.2% of the fund), and 7 for ETY that do not appear in VOO (7.8%).
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 ETY | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 8.94% | 7.51% | 1.43% |
| AAPLApple, Inc | 6.58% | 6.59% | 0.01% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.99% | 4.30% | 1.69% |
| GOOGAlphabet Inc. C | 6.75% | 2.59% | 4.16% |
| AMZNAmazon.Com Inc | 4.64% | 3.62% | 1.02% |
| AVGOBroadcom Inc | 4.00% | 2.77% | 1.23% |
| METAMeta Platform Inc | 3.43% | 1.92% | 1.51% |
| LLYEli Lilly & Co. | 2.84% | 1.47% | 1.37% |
| JPMJpmorgan Chase | 2.93% | 1.26% | 1.67% |
| VVisa Inc Class A | 2.59% | 0.87% | 1.72% |
87.4% of ETY 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, ETY or VOO?
ETY has an expense ratio of 1.06% while VOO charges 0.03%. VOO is the cheaper option, by $103 a year on a $10,000 investment.
Which performed better, ETY or VOO?
Over the past year ETY returned -2.17% vs +20.08% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ETY annualized +4.31% vs +13.48% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETY or VOO?
ETY has been the more volatile fund at 16.0% annualized versus 14.1% for VOO. Worst drawdown: ETY -43.6% vs VOO -34.3%.
Should I hold both ETY and VOO?
ETY and VOO have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ETY and VOO?
87.4% of ETY's money is in holdings VOO also owns. 40.3% of VOO's is in holdings ETY also owns. They hold 38 positions in common, counted across the 49 positions we hold weights for in ETY and 505 in VOO.
Which pays a higher dividend, ETY or VOO?
ETY yields 7.64% while VOO yields 1.08%, so ETY currently pays the higher dividend yield.
Is VOO better than ETY?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 48.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.