HECA vs VOO
Hedgeye Capital 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 | HECA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.02% | 0.03% | |
| AUM | $289M | $979.0B | |
| Dividend Yield | 2.04% | 1.09% | |
| Holdings | 22 | 509 | |
| YTD Return | -0.48% | +13.80% | |
| 1Y Return | +11.32% | +23.71% | |
| 3Y Return (annualized) | - | +21.50% | |
| 5Y Return (annualized) | - | +13.44% | |
| Volatility (annualized) | 12.4% | 14.1% | |
| Max Drawdown | -12.8% | -34.3% | |
| Fund Family | Hedgeye Asset Management | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jun 30, 2025 | Sep 7, 2010 |
HECA vs VOO Performance
Hedgeye Capital Allocation ETF (HECA) is a ETF from Hedgeye Asset Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year HECA returned +11.32% while VOO returned +23.71%. Year to date, HECA is down 0.48% versus a gain of 13.80% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 12.4% for HECA. 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 -12.8% for HECA 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 0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HECA charges 1.02% per year while VOO charges 0.03%. On a $10,000 position that is $102 vs $3 annually, a gap of $99 per year that compounds over a long holding period. On income, HECA currently yields 2.04% against 1.09% for VOO.
Holdings Overlap
HECA and VOO share 35 holdings out of 518 unique holdings combined, representing a 38.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HECA or VOO?
HECA has an expense ratio of 1.02% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $99 per year of difference.
Which performed better, HECA or VOO?
Over the past year HECA returned +11.32% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (1 years), HECA annualized +11.44% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, HECA or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.4% for HECA. Worst drawdown: HECA -12.8% vs VOO -34.3%.
Should I hold both HECA and VOO?
HECA and VOO have a monthly-return correlation of 0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HECA and VOO?
HECA and VOO share 35 common holdings with a 38.4% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, HECA or VOO?
HECA yields 2.04% while VOO yields 1.09%, so HECA currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.