MIY vs VOO
BlackRock MuniYield Michigan Quality Fund, 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 | MIY | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.44% | 0.03% | |
| AUM | $352M | $979.0B | |
| Dividend Yield | 5.22% | 1.09% | |
| Holdings | 145 | 509 | |
| YTD Return | +10.23% | +14.48% | |
| 1Y Return | +17.59% | +22.02% | |
| 3Y Return (annualized) | +10.31% | +21.80% | |
| 5Y Return (annualized) | +0.22% | +13.36% | |
| Volatility (annualized) | 11.7% | 14.2% | |
| Max Drawdown | -53.7% | -34.3% | |
| Fund Family | BlackRock, Inc. (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 30, 1992 | Sep 7, 2010 |
MIY vs VOO Performance
BlackRock MuniYield Michigan Quality Fund, Inc (MIY) is a ETF from BlackRock, Inc. (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year MIY returned +17.59% while VOO returned +22.02%. Year to date, MIY is up 10.23% versus a gain of 14.48% for VOO.
Over three years, MIY compounded at +10.31% per year against +21.80% for VOO; over five years the annualized figures are +0.22% and +13.36% respectively. Across the full 16-year window we track, VOO has the edge at +13.61% annualized vs +0.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 11.7% for MIY. 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 -53.7% for MIY 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 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MIY charges 1.44% per year while VOO charges 0.03%. On a $10,000 position that is $144 vs $3 annually, a gap of $141 per year that compounds over a long holding period. On income, MIY currently yields 5.22% against 1.09% for VOO.
Holdings Overlap
MIY and VOO share 0 holdings out of 544 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, MIY or VOO?
MIY has an expense ratio of 1.44% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, MIY or VOO?
Over the past year MIY returned +17.59% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), MIY annualized +0.59% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, MIY or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 11.7% for MIY. Worst drawdown: MIY -53.7% vs VOO -34.3%.
Should I hold both MIY and VOO?
MIY and VOO have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MIY and VOO?
MIY and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 544 unique securities.
Which pays a higher dividend, MIY or VOO?
MIY yields 5.22% while VOO yields 1.09%, so MIY currently pays the higher dividend yield.
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