GAA vs VOO
Cambria Global Asset Allocation 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 505 holdings.
Side-by-Side Comparison
| Metric | GAA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.03% | |
| AUM | $72M | $979.0B | |
| Dividend Yield | 3.53% | 1.09% | |
| Holdings | 31 | 509 | |
| YTD Return | +9.59% | +14.48% | |
| 1Y Return | +15.23% | +22.02% | |
| 3Y Return (annualized) | +12.82% | +21.80% | |
| 5Y Return (annualized) | +6.30% | +13.36% | |
| Volatility (annualized) | 9.5% | 14.2% | |
| Max Drawdown | -26.6% | -34.3% | |
| Fund Family | Cambria Investment Management | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Dec 9, 2014 | Sep 7, 2010 |
GAA vs VOO Performance
Cambria Global Asset Allocation ETF (GAA) is a ETF from Cambria Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year GAA returned +15.23% while VOO returned +22.02%. Year to date, GAA is up 9.59% versus a gain of 14.48% for VOO.
Over three years, GAA compounded at +12.82% per year against +21.80% for VOO; over five years the annualized figures are +6.30% and +13.36% respectively. Across the full 12-year window we track, VOO has the edge at +13.61% annualized vs +6.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 9.5% for GAA. 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 -26.6% for GAA 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GAA charges 0.40% per year while VOO charges 0.03%. On a $10,000 position that is $40 vs $3 annually, a gap of $37 per year that compounds over a long holding period. On income, GAA currently yields 3.53% against 1.09% for VOO.
Holdings Overlap
GAA and VOO share 0 holdings out of 535 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, GAA or VOO?
GAA has an expense ratio of 0.40% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $37 per year of difference.
Which performed better, GAA or VOO?
Over the past year GAA returned +15.23% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (12 years), GAA annualized +6.55% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, GAA or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 9.5% for GAA. Worst drawdown: GAA -26.6% vs VOO -34.3%.
Should I hold both GAA and VOO?
GAA and VOO have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GAA and VOO?
GAA and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 535 unique securities.
Which pays a higher dividend, GAA or VOO?
GAA yields 3.53% while VOO yields 1.09%, so GAA currently pays the higher dividend yield.
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