IVOL vs VOO
Quadratic Interest Rate Volatility and Inflation Hedge ETF vs Vanguard S&P 500 ETF
Which is better, IVOL or VOO?
Inflation Protection against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y 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 | IVOL | VOO |
|---|---|---|
| Expense Ratio | 0.98% | 0.03%Best |
| AUM | $275M | $997.4B |
| Dividend Yield | 4.19% | 1.04% |
| Holdings | 12 | 509 |
| YTD Return | -9.97% | +11.55%Best |
| 1Y Return | -12.02% | +17.54%Best |
| 3Y Return (annualized) | -3.25% | +20.71%Best |
| 5Y Return (annualized) | -6.43% | +12.80%Best |
| Volatility (annualized) | 8.8%Best | 16.4% |
| Max Drawdown | -31.2%Best | -34.3% |
| $10,000 over 5 years | $7,173 | $18,262Best |
| Fund Family | Quadratic Capital Management LLC | Vanguard (US) |
| Category | Fixed Income | Equity |
| Style | Inflation Protection | Large Cap Blend |
| Inception | May 13, 2019 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 14, 2019 to Sep 10, 2026 (7.3 years).
IVOL 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 7.3 years both funds cover.
IVOL vs VOO Performance
Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL) is an ETF from Quadratic Capital Management LLC and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year IVOL returned -12.02% while VOO returned +17.54%. Year to date, IVOL is down 9.97% versus a gain of 11.55% for VOO.
Over three years, IVOL compounded at -3.25% per year against +20.71% for VOO; over five years the annualized figures are -6.43% and +12.80% respectively. Across the full 7-year window we track, VOO has the edge at +15.60% annualized vs -2.65%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 16.4% 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 what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.07. They move largely independently of each other.
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 1.04% for VOO.
Holdings Overlap
We hold position weights for 1 holding in IVOL and 505 in VOO, totalling 75.6% 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 52 days apart, IVOL as of Aug 21, 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 1 positions we hold weights for in IVOL and 505 in VOO, against full books of 12 and 509.
You are not choosing between two funds in isolation.
Whichever of IVOL 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, IVOL or VOO?
IVOL has an expense ratio of 0.98% while VOO charges 0.03%. VOO is the cheaper option, by $95 a year on a $10,000 investment.
Which performed better, IVOL or VOO?
Over the past year IVOL returned -12.02% vs +17.54% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), IVOL annualized -2.65% vs +15.60% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVOL or VOO?
VOO has been the more volatile fund at 16.4% 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 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, IVOL or VOO?
IVOL yields 4.19% while VOO yields 1.04%, so IVOL currently pays the higher dividend yield.
Is VOO better than IVOL?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.