MFLX vs VOO
First Trust Flexible Municipal High Income 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 505 holdings.
Side-by-Side Comparison
| Metric | MFLX | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.03% | |
| AUM | $21M | $979.0B | |
| Dividend Yield | 4.09% | 1.09% | |
| Holdings | 80 | 509 | |
| YTD Return | +2.16% | +13.79% | |
| 1Y Return | +7.09% | +23.01% | |
| 3Y Return (annualized) | +5.64% | +21.78% | |
| 5Y Return (annualized) | -1.06% | +13.39% | |
| Volatility (annualized) | 8.5% | 14.1% | |
| Max Drawdown | -26.9% | -34.3% | |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 27, 2016 | Sep 7, 2010 |
MFLX vs VOO Performance
First Trust Flexible Municipal High Income ETF (MFLX) is a ETF from First Trust Portfolios (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year MFLX returned +7.09% while VOO returned +23.01%. Year to date, MFLX is up 2.16% versus a gain of 13.79% for VOO.
Over three years, MFLX compounded at +5.64% per year against +21.78% for VOO; over five years the annualized figures are -1.06% and +13.39% respectively. Across the full 10-year window we track, VOO has the edge at +13.57% annualized vs +0.38%. 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 8.5% for MFLX. 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 -26.9% for MFLX 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MFLX charges 0.75% per year while VOO charges 0.03%. On a $10,000 position that is $75 vs $3 annually, a gap of $72 per year that compounds over a long holding period. On income, MFLX currently yields 4.09% against 1.09% for VOO.
Holdings Overlap
MFLX and VOO share 0 holdings out of 555 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, MFLX or VOO?
MFLX has an expense ratio of 0.75% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $72 per year of difference.
Which performed better, MFLX or VOO?
Over the past year MFLX returned +7.09% vs +23.01% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (10 years), MFLX annualized +0.38% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, MFLX or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 8.5% for MFLX. Worst drawdown: MFLX -26.9% vs VOO -34.3%.
Should I hold both MFLX and VOO?
MFLX and VOO have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MFLX and VOO?
MFLX and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, MFLX or VOO?
MFLX yields 4.09% while VOO yields 1.09%, so MFLX currently pays the higher dividend yield.
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