LEO vs VOO
BNY Mellon Strategic Municipals Inc 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 | LEO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.03% | |
| AUM | $500M | $979.0B | |
| Dividend Yield | 4.24% | 1.09% | |
| Holdings | 262 | 509 | |
| YTD Return | +0.21% | +13.44% | |
| 1Y Return | +10.21% | +22.62% | |
| 3Y Return (annualized) | +6.20% | +21.47% | |
| 5Y Return (annualized) | -3.88% | +13.27% | |
| Volatility (annualized) | 12.7% | 14.1% | |
| Max Drawdown | -58.0% | -34.3% | |
| Fund Family | BNY Mellon Investment Management | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 23, 1987 | Sep 7, 2010 |
LEO vs VOO Performance
BNY Mellon Strategic Municipals Inc (LEO) is a ETF from BNY Mellon Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year LEO returned +10.21% while VOO returned +22.62%. Year to date, LEO is up 0.21% versus a gain of 13.44% for VOO.
Over three years, LEO compounded at +6.20% per year against +21.47% for VOO; over five years the annualized figures are -3.88% and +13.27% respectively. Across the full 16-year window we track, VOO has the edge at +13.55% annualized vs -0.63%. 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 12.7% for LEO. 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 -58.0% for LEO 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LEO 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, LEO currently yields 4.24% against 1.09% for VOO.
Holdings Overlap
LEO and VOO share 0 holdings out of 659 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, LEO or VOO?
LEO 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, LEO or VOO?
Over the past year LEO returned +10.21% vs +22.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), LEO annualized -0.63% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, LEO or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.7% for LEO. Worst drawdown: LEO -58.0% vs VOO -34.3%.
Should I hold both LEO and VOO?
LEO and VOO have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LEO and VOO?
LEO and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 659 unique securities.
Which pays a higher dividend, LEO or VOO?
LEO yields 4.24% while VOO yields 1.09%, so LEO currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.