GDL vs VOO
The GDL Fund vs Vanguard S&P 500 ETF
Which is better, GDL or VOO?
Mid Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window.
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 | GDL | VOO |
|---|---|---|
| Expense Ratio | 2.70% | 0.03%Best |
| AUM | $119M | $997.4B |
| Dividend Yield | 4.50% | 1.08% |
| Holdings | 129 | 509 |
| YTD Return | +3.70% | +12.74%Best |
| 1Y Return | +3.82% | +19.43%Best |
| 3Y Return (annualized) | +8.45% | +21.18%Best |
| 5Y Return (annualized) | +4.48% | +12.76%Best |
| Volatility (annualized) | 7.0%Best | 14.1% |
| Max Drawdown | -59.8% | -34.3%Best |
| $10,000 over 5 years | $12,450 | $18,230Best |
| Fund Family | Gabelli Funds | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Jan 25, 2007 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 8, 2026 (16 years).
GDL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
GDL vs VOO Performance
The GDL Fund (GDL) is an ETF from Gabelli Funds and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year GDL returned +3.82% while VOO returned +19.43%. Year to date, GDL is up 3.70% versus a gain of 12.74% for VOO.
Over three years, GDL compounded at +8.45% per year against +21.18% for VOO; over five years the annualized figures are +4.48% and +12.76% respectively. Across the full 16-year window we track, VOO has the edge at +13.43% annualized vs -1.15%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 7.0% for GDL. 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 -59.8% for GDL 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 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GDL charges 2.70% per year while VOO charges 0.03%. On a $10,000 position that is $270 vs $3 annually, a gap of $267 per year that compounds over a long holding period. On income, GDL currently yields 4.50% against 1.08% for VOO.
Holdings Overlap
At least 1.0% of VOO's money is in holdings GDL also owns.
Stated as a floor: for GDL, our book for it covers 82.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VOO and GDL share little of their money.
The two holdings books were reported 91 days apart, GDL as of Mar 31, 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.
9 positions in common, counted across the 115 positions we hold weights for in GDL and 504 in VOO, against full books of 129 and 509.
Top Shared Holdings
| Stock | Weight in GDL | Weight in VOO | Difference |
|---|---|---|---|
| EAElectronic Arts, Inc. | 5.10% | 0.07% | 5.03% |
| WBDWarner Bros Discovery Inc | 3.07% | 0.10% | 2.97% |
| AESAes Corporation | 1.92% | 0.02% | 1.90% |
| BABoeing Co | 0.59% | 0.26% | 0.33% |
| NSCNorfolk Southern Corp. | 0.55% | 0.11% | 0.44% |
| SLBSlb Ltd. | 0.25% | 0.11% | 0.14% |
| KVUEKenvue Inc | 0.15% | 0.06% | 0.09% |
| GENGen Digital Inc | 0.00% | 0.02% | 0.02% |
| UNPUnion Pacific Corp | -0.46% | 0.25% | 0.71% |
You are not choosing between two funds in isolation.
Whichever of GDL and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GDL or VOO?
GDL has an expense ratio of 2.70% while VOO charges 0.03%. VOO is the cheaper option, by $267 a year on a $10,000 investment.
Which performed better, GDL or VOO?
Over the past year GDL returned +3.82% vs +19.43% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), GDL annualized -1.15% vs +13.43% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GDL or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 7.0% for GDL. Worst drawdown: GDL -59.8% vs VOO -34.3%.
Should I hold both GDL and VOO?
GDL and VOO have a monthly-return correlation of 0.58, 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 GDL and VOO?
At least 1.0% of VOO's money is in holdings GDL also owns. Our book for GDL is partial, so the real figure is this or higher. They hold 9 positions in common, counted across the 115 positions we hold weights for in GDL and 504 in VOO.
Which pays a higher dividend, GDL or VOO?
GDL yields 4.50% while VOO yields 1.08%, so GDL currently pays the higher dividend yield.
Is VOO better than GDL?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.