NCLO vs VOO
Nuveen AA-BBB CLO 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 509 holdings.
Side-by-Side Comparison
| Metric | NCLO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.26% | 0.03% | |
| AUM | $154M | $997.4B | |
| Dividend Yield | 5.78% | 1.08% | |
| Holdings | 103 | 509 | |
| YTD Return | +3.30% | +12.25% | |
| 1Y Return | +5.57% | +20.92% | |
| 3Y Return (annualized) | - | +21.79% | |
| 5Y Return (annualized) | - | +13.05% | |
| Volatility (annualized) | 1.1% | 14.1% | |
| Max Drawdown | -3.1% | -34.3% | |
| Fund Family | Nuveen | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 10, 2024 | Sep 7, 2010 |
NCLO vs VOO Performance
Nuveen AA-BBB CLO ETF (NCLO) is a ETF from Nuveen and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NCLO returned +5.57% while VOO returned +20.92%. Year to date, NCLO is up 3.30% versus a gain of 12.25% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 1.1% for NCLO. 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 -3.1% for NCLO 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NCLO charges 0.26% per year while VOO charges 0.03%. On a $10,000 position that is $26 vs $3 annually, a gap of $23 per year that compounds over a long holding period. On income, NCLO currently yields 5.78% against 1.08% for VOO.
Holdings Overlap
NCLO and VOO share 0 holdings out of 507 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, NCLO or VOO?
NCLO has an expense ratio of 0.26% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, NCLO or VOO?
Over the past year NCLO returned +5.57% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (2 years), NCLO annualized +5.48% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, NCLO or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 1.1% for NCLO. Worst drawdown: NCLO -3.1% vs VOO -34.3%.
Should I hold both NCLO and VOO?
NCLO and VOO have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NCLO and VOO?
NCLO and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, NCLO or VOO?
NCLO yields 5.78% while VOO yields 1.08%, so NCLO currently pays the higher dividend yield.
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