ICLO vs VOO
Invesco AAA CLO Floating Rate Note ETF vs Vanguard S&P 500 ETF
Which is better, ICLO or VOO?
Bank Loan against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y 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 | ICLO | VOO |
|---|---|---|
| Expense Ratio | 0.19% | 0.03%Best |
| AUM | $560M | $997.4B |
| Dividend Yield | 4.87% | 1.04% |
| Holdings | 184 | 509 |
| YTD Return | +0.39% | +12.37%Best |
| 1Y Return | +1.47% | +16.61%Best |
| 3Y Return (annualized) | +4.96% | +21.37%Best |
| 5Y Return (annualized) | - | +13.49% |
| Volatility (annualized) | 1.3%Best | 12.5% |
| Max Drawdown | -3.5%Best | -18.7% |
| $10,000 over 3.8 years | $12,349 | $20,543Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Dec 9, 2022 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.8 years row, are measured over the window both funds cover: Dec 9, 2022 to Sep 18, 2026 (3.8 years).
ICLO 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 3.8 years both funds cover.
ICLO vs VOO Performance
Invesco AAA CLO Floating Rate Note ETF (ICLO) is an ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year ICLO returned +1.47% while VOO returned +16.61%. Year to date, ICLO is up 0.39% versus a gain of 12.37% for VOO.
Over three years, ICLO compounded at +4.96% per year against +21.37% for VOO. Across the full 4-year window we track, VOO has the edge at +20.86% annualized vs +5.71%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 1.3% for ICLO. 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 -3.5% for ICLO and -18.7% 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 0.37. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ICLO charges 0.19% per year while VOO charges 0.03%. On a $10,000 position that is $19 vs $3 annually, a gap of $16 per year that compounds over a long holding period. On income, ICLO currently yields 4.87% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 15 holdings in ICLO and 494 in VOO, totalling 6.4% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 15 positions we hold weights for in ICLO and 494 in VOO, against full books of 184 and 509.
You are not choosing between two funds in isolation.
Whichever of ICLO 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, ICLO or VOO?
ICLO has an expense ratio of 0.19% while VOO charges 0.03%. VOO is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, ICLO or VOO?
Over the past year ICLO returned +1.47% vs +16.61% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (4 years), ICLO annualized +5.71% vs +20.86% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ICLO or VOO?
VOO has been the more volatile fund at 12.5% annualized versus 1.3% for ICLO. Worst drawdown: ICLO -3.5% vs VOO -18.7%.
Should I hold both ICLO and VOO?
ICLO and VOO have a monthly-return correlation of 0.37, 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, ICLO or VOO?
ICLO yields 4.87% while VOO yields 1.04%, so ICLO currently pays the higher dividend yield.
Is VOO better than ICLO?
VOO has a lower expense ratio. VOO led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.