RAYE vs VOO
Rayliant Quantamental Emerging Market ex-China Equity ETF vs Vanguard S&P 500 ETF
Which is better, RAYE or VOO?
Each has led over a different period.
VOO has a lower expense ratio. RAYE led over 1Y, VOO over the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RAYE | VOO |
|---|---|---|
| Expense Ratio | 0.88% | 0.03%Best |
| AUM | $37M | $997.4B |
| Dividend Yield | 2.93% | 1.04% |
| Holdings | 119 | 509 |
| Volatility (annualized) | 15.7%Best | 16.0% |
| Max Drawdown | -26.9% | -24.5%Best |
| $10,000 over 4 years | $12,318 | $15,506Best |
| Top 10 Weight | 37.8% | 37.6%Best |
| Fund Family | The Advisors Inner Circle Fund | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 15, 2021 | Sep 7, 2010 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 279 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. RAYE has data through Dec 19, 2025 and VOO through Sep 24, 2026.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Dec 16, 2021 to Dec 19, 2025 (4 years).
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.7% for RAYE. 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 RAYE and -24.5% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RAYE charges 0.88% per year while VOO charges 0.03%. On a $10,000 position that is $88 vs $3 annually, a gap of $85 per year that compounds over a long holding period. On income, RAYE currently yields 2.93% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 98 holdings in RAYE and 494 in VOO, totalling 96.7% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 336 days apart, RAYE as of Aug 29, 2025 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 98 positions we hold weights for in RAYE and 494 in VOO, against full books of 119 and 509.
What only one of them owns
Our book lists 487 positions for VOO that do not appear in our book for RAYE (99.2% of the fund), and 4 for RAYE that do not appear in VOO (3.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of RAYE and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RAYE or VOO?
RAYE has an expense ratio of 0.88% while VOO charges 0.03%. VOO is the cheaper option, by $85 a year on a $10,000 investment.
Which is riskier, RAYE or VOO?
VOO has been the more volatile fund at 16.0% annualized versus 15.7% for RAYE. Worst drawdown: RAYE -26.9% vs VOO -24.5%.
Should I hold both RAYE and VOO?
RAYE and VOO have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RAYE or VOO?
RAYE yields 2.93% while VOO yields 1.04%, so RAYE currently pays the higher dividend yield.
Is VOO better than RAYE?
VOO has a lower expense ratio. RAYE led over 1Y, VOO over the full window. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.