FPRO vs VOO
Fidelity Real Estate Investment ETF vs Vanguard S&P 500 ETF
Which is better, FPRO or VOO?
All Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 58.6%.
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 | FPRO | VOO |
|---|---|---|
| Expense Ratio | 0.57% | 0.03%Best |
| AUM | $17M | $997.4B |
| Dividend Yield | 2.45% | 1.04% |
| Holdings | 44 | 509 |
| YTD Return | +9.77% | +12.50%Best |
| 1Y Return | +5.92% | +17.58%Best |
| 3Y Return (annualized) | +8.90% | +21.27%Best |
| 5Y Return (annualized) | +1.60% | +12.95%Best |
| Volatility (annualized) | 18.6% | 15.2%Best |
| Max Drawdown | -32.8% | -24.5%Best |
| $10,000 over 5 years | $10,826 | $18,384Best |
| Top 10 Weight | 58.6% | 36.4%Best |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Feb 2, 2021 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Feb 4, 2021 to Sep 11, 2026 (5.6 years).
FPRO 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 5.6 years both funds cover.
FPRO vs VOO Performance
Fidelity Real Estate Investment ETF (FPRO) is an ETF from Fidelity Investments (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year FPRO returned +5.92% while VOO returned +17.58%. Year to date, FPRO is up 9.77% versus a gain of 12.50% for VOO.
Over three years, FPRO compounded at +8.90% per year against +21.27% for VOO; over five years the annualized figures are +1.60% and +12.95% respectively. Across the full 6-year window we track, VOO has the edge at +14.55% annualized vs +5.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPRO has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.2% 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 -32.8% for FPRO and -24.5% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPRO charges 0.57% per year while VOO charges 0.03%. On a $10,000 position that is $57 vs $3 annually, a gap of $54 per year that compounds over a long holding period. On income, FPRO currently yields 2.45% against 1.04% for VOO.
Holdings Overlap
77.5% of FPRO's money is in holdings VOO also owns. 1.6% of VOO's money is in holdings FPRO also owns.
Most of FPRO is already inside VOO. Owning both mostly buys the same companies twice.
21 positions in common, counted across the 43 positions we hold weights for in FPRO and 505 in VOO, against full books of 44 and 509.
What only one of them owns
Our book lists 476 positions for VOO that do not appear in our book for FPRO (97.9% of the fund), and 22 for FPRO that do not appear in VOO (21.8%).
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 FPRO | Weight in VOO | Difference |
|---|---|---|---|
| PLDPrologis Inc | 9.36% | 0.20% | 9.16% |
| EQIXEquinix, Inc. | 9.32% | 0.16% | 9.16% |
| AMTAmerican Tower Corp | 8.41% | 0.12% | 8.29% |
| WELLWelltower Inc | 8.12% | 0.25% | 7.87% |
| SPGSimon Property Group Inc | 5.15% | 0.11% | 5.04% |
| DLRDigital Realty Trust Inc. | 4.31% | 0.09% | 4.22% |
| KIMKimco Realty Corp | 3.88% | 0.03% | 3.85% |
| UDRUdr Inc. | 3.59% | 0.02% | 3.57% |
| CBRECbre Group Inc. Class A | 3.32% | 0.06% | 3.26% |
| VTRVentas, Inc. | 3.13% | 0.07% | 3.06% |
77.5% of FPRO 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, FPRO or VOO?
FPRO has an expense ratio of 0.57% while VOO charges 0.03%. VOO is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, FPRO or VOO?
Over the past year FPRO returned +5.92% vs +17.58% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), FPRO annualized +5.75% vs +14.55% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FPRO or VOO?
FPRO has been the more volatile fund at 18.6% annualized versus 15.2% for VOO. Worst drawdown: FPRO -32.8% vs VOO -24.5%.
Should I hold both FPRO and VOO?
FPRO and VOO have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FPRO and VOO?
77.5% of FPRO's money is in holdings VOO also owns. 1.6% of VOO's is in holdings FPRO also owns. They hold 21 positions in common, counted across the 43 positions we hold weights for in FPRO and 505 in VOO.
Which pays a higher dividend, FPRO or VOO?
FPRO yields 2.45% while VOO yields 1.04%, so FPRO currently pays the higher dividend yield.
Is VOO better than FPRO?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 58.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.