EUO vs VOO
ProShares UltraShort Euro 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 | EUO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | |
| AUM | $36M | $979.0B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 4 | 509 | |
| YTD Return | +6.36% | +13.72% | |
| 1Y Return | +7.96% | +21.63% | |
| 3Y Return (annualized) | +1.13% | +21.55% | |
| 5Y Return (annualized) | +4.53% | +13.26% | |
| Volatility (annualized) | 17.9% | 14.1% | |
| Max Drawdown | -38.6% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 24, 2008 | Sep 7, 2010 |
EUO vs VOO Performance
ProShares UltraShort Euro (EUO) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year EUO returned +7.96% while VOO returned +21.63%. Year to date, EUO is up 6.36% versus a gain of 13.72% for VOO.
Over three years, EUO compounded at +1.13% per year against +21.55% for VOO; over five years the annualized figures are +4.53% and +13.26% respectively. Across the full 16-year window we track, VOO has the edge at +13.56% annualized vs +1.15%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EUO has been the more volatile fund, with annualized monthly volatility of 17.9% 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 -38.6% for EUO 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 -0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EUO charges 0.98% per year while VOO charges 0.03%. On a $10,000 position that is $98 vs $3 annually, a gap of $95 per year that compounds over a long holding period. On income, EUO currently yields 0.00% against 1.09% for VOO.
Holdings Overlap
EUO and VOO share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EUO or VOO?
EUO has an expense ratio of 0.98% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, EUO or VOO?
Over the past year EUO returned +7.96% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), EUO annualized +1.15% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, EUO or VOO?
EUO has been the more volatile fund at 17.9% annualized versus 14.1% for VOO. Worst drawdown: EUO -38.6% vs VOO -34.3%.
Should I hold both EUO and VOO?
EUO and VOO have a monthly-return correlation of -0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EUO and VOO?
EUO and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, EUO or VOO?
EUO yields 0.00% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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