FPRO vs VOO
Fidelity Real Estate Investment ETF 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 509 holdings.
Side-by-Side Comparison
| Metric | FPRO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.03% | |
| AUM | $17M | $997.4B | |
| Dividend Yield | 2.45% | 1.08% | |
| Holdings | 43 | 509 | |
| YTD Return | +14.30% | +14.48% | |
| 1Y Return | +13.19% | +22.02% | |
| 3Y Return (annualized) | +9.91% | +21.80% | |
| 5Y Return (annualized) | +2.54% | +13.36% | |
| Volatility (annualized) | 18.7% | 14.2% | |
| Max Drawdown | -32.8% | -34.3% | |
| Fund Family | Fidelity Investments (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2021 | Sep 7, 2010 |
FPRO vs VOO Performance
Fidelity Real Estate Investment ETF (FPRO) is a ETF from Fidelity Investments (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year FPRO returned +13.19% while VOO returned +22.02%. Year to date, FPRO is up 14.30% versus a gain of 14.48% for VOO.
Over three years, FPRO compounded at +9.91% per year against +21.80% for VOO; over five years the annualized figures are +2.54% and +13.36% respectively. Across the full 6-year window we track, VOO has the edge at +13.61% annualized vs +6.61%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPRO has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 14.2% 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 -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 0.78. 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 1.08% for VOO.
Holdings Overlap
FPRO and VOO share 21 holdings out of 527 unique holdings combined, representing a 1.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $54 per year of difference.
Which performed better, FPRO or VOO?
Over the past year FPRO returned +13.19% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), FPRO annualized +6.61% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, FPRO or VOO?
FPRO has been the more volatile fund at 18.7% annualized versus 14.2% for VOO. Worst drawdown: FPRO -32.8% vs VOO -34.3%.
Should I hold both FPRO and VOO?
FPRO and VOO have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FPRO and VOO?
FPRO and VOO share 21 common holdings with a 1.6% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, FPRO or VOO?
FPRO yields 2.45% while VOO yields 1.08%, so FPRO currently pays the higher dividend yield.
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