HSMV vs VOO
First Trust Horizon Managed Volatility Small/Mid ETF vs Vanguard S&P 500 ETF
Which is better, HSMV or VOO?
Small Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. HSMV is less concentrated, with 16.5% of the fund in its ten largest positions against 36.4%.
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 | HSMV | VOO |
|---|---|---|
| Expense Ratio | 0.80% | 0.03%Best |
| AUM | $10M | $997.4B |
| Dividend Yield | 1.90% | 1.04% |
| Holdings | 302 | 509 |
| YTD Return | +6.72% | +12.50%Best |
| 1Y Return | +4.59% | +17.58%Best |
| 3Y Return (annualized) | +9.45% | +21.27%Best |
| 5Y Return (annualized) | +4.51% | +12.95%Best |
| Volatility (annualized) | 14.6%Best | 15.3% |
| Max Drawdown | -19.2%Best | -24.5% |
| $10,000 over 5 years | $12,468 | $18,384Best |
| Top 10 Weight | 16.5%Best | 36.4% |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Apr 6, 2020 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Apr 7, 2020 to Sep 11, 2026 (6.4 years).
HSMV 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 covers the 6.4 years both funds cover.
HSMV vs VOO Performance
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) is an ETF from First Trust Portfolios (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year HSMV returned +4.59% while VOO returned +17.58%. Year to date, HSMV is up 6.72% versus a gain of 12.50% for VOO.
Over three years, HSMV compounded at +9.45% per year against +21.27% for VOO; over five years the annualized figures are +4.51% and +12.95% respectively. Across the full 6-year window we track, VOO has the edge at +19.34% annualized vs +10.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.6% for HSMV. 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 -19.2% for HSMV and -24.5% 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HSMV charges 0.80% per year while VOO charges 0.03%. On a $10,000 position that is $80 vs $3 annually, a gap of $77 per year that compounds over a long holding period. On income, HSMV currently yields 1.90% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 150 holdings in HSMV and 505 in VOO, totalling 99.5% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 63 days apart, HSMV as of Sep 1, 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.
0 positions in common, counted across the 150 positions we hold weights for in HSMV and 505 in VOO, against full books of 302 and 509.
What only one of them owns
Our book lists 496 positions for VOO that do not appear in our book for HSMV (99.4% of the fund), and 148 for HSMV that do not appear in VOO (99.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of HSMV 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, HSMV or VOO?
HSMV has an expense ratio of 0.80% while VOO charges 0.03%. VOO is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, HSMV or VOO?
Over the past year HSMV returned +4.59% vs +17.58% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), HSMV annualized +10.79% vs +19.34% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HSMV or VOO?
VOO has been the more volatile fund at 15.3% annualized versus 14.6% for HSMV. Worst drawdown: HSMV -19.2% vs VOO -24.5%.
Should I hold both HSMV and VOO?
HSMV and VOO have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HSMV or VOO?
HSMV yields 1.90% while VOO yields 1.04%, so HSMV currently pays the higher dividend yield.
Is VOO better than HSMV?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. HSMV is less concentrated, with 16.5% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.