KIO vs VOO
KKR Income Opportunities Fund 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 | KIO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 4.59% | 0.03% | |
| AUM | $488M | $979.0B | |
| Dividend Yield | 12.12% | 1.09% | |
| Holdings | 327 | 509 | |
| YTD Return | +3.98% | +13.72% | |
| 1Y Return | -0.69% | +21.63% | |
| 3Y Return (annualized) | +9.21% | +21.55% | |
| 5Y Return (annualized) | +3.36% | +13.26% | |
| Volatility (annualized) | 14.3% | 14.1% | |
| Max Drawdown | -54.5% | -34.3% | |
| Fund Family | KKR Funds | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jul 26, 2013 | Sep 7, 2010 |
KIO vs VOO Performance
KKR Income Opportunities Fund (KIO) is a ETF from KKR Funds and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year KIO returned -0.69% while VOO returned +21.63%. Year to date, KIO is up 3.98% versus a gain of 13.72% for VOO.
Over three years, KIO compounded at +9.21% per year against +21.55% for VOO; over five years the annualized figures are +3.36% and +13.26% respectively. Across the full 13-year window we track, VOO has the edge at +13.56% annualized vs +0.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KIO has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 14.1% for VOO. 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 -54.5% for KIO 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KIO charges 4.59% per year while VOO charges 0.03%. On a $10,000 position that is $459 vs $3 annually, a gap of $456 per year that compounds over a long holding period. On income, KIO currently yields 12.12% against 1.09% for VOO.
Holdings Overlap
KIO and VOO share 1 holdings out of 601 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in KIO | Weight in VOO | Difference |
|---|---|---|---|
| NCLH | 0.34% | 0.02% | 0.32% |
Frequently Asked Questions
Which is cheaper, KIO or VOO?
KIO has an expense ratio of 4.59% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $456 per year of difference.
Which performed better, KIO or VOO?
Over the past year KIO returned -0.69% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (13 years), KIO annualized +0.10% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, KIO or VOO?
KIO has been the more volatile fund at 14.3% annualized versus 14.1% for VOO. Worst drawdown: KIO -54.5% vs VOO -34.3%.
Should I hold both KIO and VOO?
KIO and VOO have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KIO and VOO?
KIO and VOO share 1 common holdings with a 0.0% weight overlap. Combined, they hold 601 unique securities.
Which pays a higher dividend, KIO or VOO?
KIO yields 12.12% while VOO yields 1.09%, so KIO currently pays the higher dividend yield.
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