IVOL vs VOO
Quadratic Interest Rate Volatility and Inflation Hedge 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 509 holdings.
Side-by-Side Comparison
| Metric | IVOL | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | |
| AUM | $288M | $997.4B | |
| Dividend Yield | 4.19% | 1.08% | |
| Holdings | 12 | 509 | |
| YTD Return | -6.22% | +12.25% | |
| 1Y Return | -7.28% | +20.92% | |
| 3Y Return (annualized) | -2.19% | +21.79% | |
| 5Y Return (annualized) | -5.41% | +13.05% | |
| Volatility (annualized) | 8.8% | 14.1% | |
| Max Drawdown | -31.2% | -34.3% | |
| Fund Family | Quadratic Capital Management LLC | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | May 13, 2019 | Sep 7, 2010 |
IVOL vs VOO Performance
Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL) is a ETF from Quadratic Capital Management LLC and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year IVOL returned -7.28% while VOO returned +20.92%. Year to date, IVOL is down 6.22% versus a gain of 12.25% for VOO.
Over three years, IVOL compounded at -2.19% per year against +21.79% for VOO; over five years the annualized figures are -5.41% and +13.05% respectively. Across the full 7-year window we track, VOO has the edge at +13.45% annualized vs -2.13%. 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 8.8% for IVOL. 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 -31.2% for IVOL 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 0.07. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVOL charges 0.98% per year while VOO charges 0.03%. On a $10,000 position that is $98 vs $3 annually, a gap of $95 per year that compounds over a long holding period. On income, IVOL currently yields 4.19% against 1.08% for VOO.
Holdings Overlap
IVOL and VOO share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVOL or VOO?
IVOL has an expense ratio of 0.98% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, IVOL or VOO?
Over the past year IVOL returned -7.28% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), IVOL annualized -2.13% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, IVOL or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 8.8% for IVOL. Worst drawdown: IVOL -31.2% vs VOO -34.3%.
Should I hold both IVOL and VOO?
IVOL and VOO have a monthly-return correlation of 0.07, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVOL and VOO?
IVOL and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, IVOL or VOO?
IVOL yields 4.19% while VOO yields 1.08%, so IVOL currently pays the higher dividend yield.
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