OIA vs VOO
Invesco Municipal Income Opportunities Trust 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 | OIA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 2.41% | 0.03% | |
| AUM | $1,753.44 | $997.4B | |
| Dividend Yield | 5.72% | 1.08% | |
| Holdings | 239 | 509 | |
| YTD Return | +4.06% | +12.25% | |
| 1Y Return | +14.69% | +20.92% | |
| 3Y Return (annualized) | +5.79% | +21.79% | |
| 5Y Return (annualized) | -1.01% | +13.05% | |
| Volatility (annualized) | 15.0% | 14.1% | |
| Max Drawdown | -58.7% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 19, 1988 | Sep 7, 2010 |
OIA vs VOO Performance
Invesco Municipal Income Opportunities Trust (OIA) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year OIA returned +14.69% while VOO returned +20.92%. Year to date, OIA is up 4.06% versus a gain of 12.25% for VOO.
Over three years, OIA compounded at +5.79% per year against +21.79% for VOO; over five years the annualized figures are -1.01% and +13.05% respectively. Across the full 16-year window we track, VOO has the edge at +13.45% annualized vs -0.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OIA has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.1% for VOO. 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 -58.7% for OIA 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 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OIA charges 2.41% per year while VOO charges 0.03%. On a $10,000 position that is $241 vs $3 annually, a gap of $238 per year that compounds over a long holding period. On income, OIA currently yields 5.72% against 1.08% for VOO.
Holdings Overlap
OIA and VOO share 0 holdings out of 581 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, OIA or VOO?
OIA has an expense ratio of 2.41% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $238 per year of difference.
Which performed better, OIA or VOO?
Over the past year OIA returned +14.69% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), OIA annualized -0.16% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, OIA or VOO?
OIA has been the more volatile fund at 15.0% annualized versus 14.1% for VOO. Worst drawdown: OIA -58.7% vs VOO -34.3%.
Should I hold both OIA and VOO?
OIA and VOO have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OIA and VOO?
OIA and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 581 unique securities.
Which pays a higher dividend, OIA or VOO?
OIA yields 5.72% while VOO yields 1.08%, so OIA currently pays the higher dividend yield.
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