GVIP vs VOO
Goldman Sachs Hedge Industry VIP ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. GVIP delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | GVIP | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.03% | |
| AUM | $584M | $997.4B | |
| Dividend Yield | 0.31% | 1.08% | |
| Holdings | 53 | 509 | |
| YTD Return | +10.96% | +12.25% | |
| 1Y Return | +24.11% | +20.92% | |
| 3Y Return (annualized) | +26.89% | +21.79% | |
| 5Y Return (annualized) | +11.86% | +13.05% | |
| Volatility (annualized) | 19.1% | 14.1% | |
| Max Drawdown | -37.1% | -34.3% | |
| Fund Family | Goldman Sachs Asset Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 1, 2016 | Sep 7, 2010 |
GVIP vs VOO Performance
Goldman Sachs Hedge Industry VIP ETF (GVIP) is a ETF from Goldman Sachs Asset Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year GVIP returned +24.11% while VOO returned +20.92%. Year to date, GVIP is up 10.96% versus a gain of 12.25% for VOO.
Over three years, GVIP compounded at +26.89% per year against +21.79% for VOO; over five years the annualized figures are +11.86% and +13.05% respectively. Across the full 10-year window we track, GVIP has the edge at +16.80% annualized vs +13.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GVIP has been the more volatile fund, with annualized monthly volatility of 19.1% 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 -37.1% for GVIP 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GVIP charges 0.45% per year while VOO charges 0.03%. On a $10,000 position that is $45 vs $3 annually, a gap of $42 per year that compounds over a long holding period. On income, GVIP currently yields 0.31% against 1.08% for VOO.
Holdings Overlap
GVIP and VOO share 38 holdings out of 519 unique holdings combined, representing a 31.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GVIP or VOO?
GVIP has an expense ratio of 0.45% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $42 per year of difference.
Which performed better, GVIP or VOO?
Over the past year GVIP returned +24.11% vs +20.92% for VOO, so GVIP leads on 1-year performance. Over the longest common window we track (10 years), GVIP annualized +16.80% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, GVIP or VOO?
GVIP has been the more volatile fund at 19.1% annualized versus 14.1% for VOO. Worst drawdown: GVIP -37.1% vs VOO -34.3%.
Should I hold both GVIP and VOO?
GVIP and VOO have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between GVIP and VOO?
GVIP and VOO share 38 common holdings with a 31.0% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, GVIP or VOO?
GVIP yields 0.31% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
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