PICB vs VOO
Invesco International Corporate Bond 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 | PICB | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.03% | |
| AUM | $356M | $979.0B | |
| Dividend Yield | 3.39% | 1.09% | |
| Holdings | 599 | 509 | |
| YTD Return | -0.09% | +13.80% | |
| 1Y Return | +1.24% | +23.71% | |
| 3Y Return (annualized) | +5.30% | +21.50% | |
| 5Y Return (annualized) | -1.94% | +13.44% | |
| Volatility (annualized) | 10.0% | 14.1% | |
| Max Drawdown | -38.1% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 3, 2010 | Sep 7, 2010 |
PICB vs VOO Performance
Invesco International Corporate Bond ETF (PICB) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PICB returned +1.24% while VOO returned +23.71%. Year to date, PICB is down 0.09% versus a gain of 13.80% for VOO.
Over three years, PICB compounded at +5.30% per year against +21.50% for VOO; over five years the annualized figures are -1.94% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% 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 10.0% for PICB. 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 -38.1% for PICB 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PICB charges 0.50% per year while VOO charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, PICB currently yields 3.39% against 1.09% for VOO.
Holdings Overlap
PICB and VOO share 0 holdings out of 900 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, PICB or VOO?
PICB has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, PICB or VOO?
Over the past year PICB returned +1.24% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PICB annualized +0.38% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, PICB or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 10.0% for PICB. Worst drawdown: PICB -38.1% vs VOO -34.3%.
Should I hold both PICB and VOO?
PICB and VOO have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PICB and VOO?
PICB and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 900 unique securities.
Which pays a higher dividend, PICB or VOO?
PICB yields 3.39% while VOO yields 1.09%, so PICB currently pays the higher dividend yield.
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