MDIV vs VOO
First Trust Multi-Asset Diversified Income Index Fund vs Vanguard S&P 500 ETF
Which is better, MDIV or VOO?
Equity-oriented Balanced against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. MDIV is less concentrated, with 32.6% of the fund in its ten largest positions against 37.6%.
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 | MDIV | VOO |
|---|---|---|
| Expense Ratio | 0.71% | 0.03%Best |
| AUM | $431M | $997.4B |
| Dividend Yield | 6.60% | 1.04% |
| Holdings | 125 | 509 |
| YTD Return | +8.54% | +14.14%Best |
| 1Y Return | +8.13% | +17.31%Best |
| 3Y Return (annualized) | +10.39% | +23.04%Best |
| 5Y Return (annualized) | +6.46% | +13.63%Best |
| Volatility (annualized) | 13.5%Best | 14.1% |
| Max Drawdown | -57.0% | -34.3%Best |
| $10,000 over 5 years | $13,675 | $18,944Best |
| Top 10 Weight | 32.6%Best | 37.6% |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Aug 13, 2012 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Aug 14, 2012 to Sep 22, 2026 (14.1 years).
MDIV 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
MDIV vs VOO Performance
First Trust Multi-Asset Diversified Income Index Fund (MDIV) is an ETF from First Trust Portfolios (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year MDIV returned +8.13% while VOO returned +17.31%. Year to date, MDIV is up 8.54% versus a gain of 14.14% for VOO.
Over three years, MDIV compounded at +10.39% per year against +23.04% for VOO; over five years the annualized figures are +6.46% and +13.63% respectively. Across the full 14-year window we track, VOO has the edge at +13.52% annualized vs +0.98%.
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 13.5% for MDIV. 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 -57.0% for MDIV 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MDIV charges 0.71% per year while VOO charges 0.03%. On a $10,000 position that is $71 vs $3 annually, a gap of $68 per year that compounds over a long holding period. On income, MDIV currently yields 6.60% against 1.04% for VOO.
Holdings Overlap
14.4% of MDIV's money is in holdings VOO also owns. 3.3% of VOO's money is in holdings MDIV also owns.
MDIV and VOO share little of their money.
32 positions in common, counted across the 123 positions we hold weights for in MDIV and 494 in VOO, against full books of 125 and 509.
What only one of them owns
Our book lists 455 positions for VOO that do not appear in our book for MDIV (95.8% of the fund), and 90 for MDIV that do not appear in VOO (85.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in MDIV | Weight in VOO | Difference |
|---|---|---|---|
| PFEPfizer Inc | 0.63% | 0.22% | 0.41% |
| VZVerizon Communic | 0.54% | 0.30% | 0.24% |
| GISGeneral Mills In | 0.76% | 0.03% | 0.73% |
| PMPhilip Morris International Inc. | 0.33% | 0.46% | 0.13% |
| KHCKraft Heinz Co. | 0.68% | 0.03% | 0.65% |
| VICIVici Properties Inc | 0.65% | 0.04% | 0.61% |
| MOAltria Group Inc | 0.51% | 0.18% | 0.33% |
| TBBAt&t Inc | 0.40% | 0.25% | 0.15% |
| PRUPrudential Financial Inc | 0.58% | 0.07% | 0.51% |
| SPGSimon Property Group Inc | 0.52% | 0.12% | 0.40% |
You are not choosing between two funds in isolation.
Whichever of MDIV 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, MDIV or VOO?
MDIV has an expense ratio of 0.71% while VOO charges 0.03%. VOO is the cheaper option, by $68 a year on a $10,000 investment.
Which performed better, MDIV or VOO?
Over the past year MDIV returned +8.13% vs +17.31% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (14 years), MDIV annualized +0.98% vs +13.52% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MDIV or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 13.5% for MDIV. Worst drawdown: MDIV -57.0% vs VOO -34.3%.
Should I hold both MDIV and VOO?
MDIV and VOO have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between MDIV and VOO?
14.4% of MDIV's money is in holdings VOO also owns. 3.3% of VOO's is in holdings MDIV also owns. They hold 32 positions in common, counted across the 123 positions we hold weights for in MDIV and 494 in VOO.
Which pays a higher dividend, MDIV or VOO?
MDIV yields 6.60% while VOO yields 1.04%, so MDIV currently pays the higher dividend yield.
Is VOO better than MDIV?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. MDIV is less concentrated, with 32.6% of the fund in its ten largest positions against 37.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.