RAYJ vs VOO
Rayliant SMDAM Japan Equity ETF vs Vanguard S&P 500 ETF
Which is better, RAYJ or VOO?
RAYJ has been ahead.
VOO has a lower expense ratio. RAYJ led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 45.9%.
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 | RAYJ | VOO |
|---|---|---|
| Expense Ratio | 0.72% | 0.03%Best |
| AUM | $24M | $997.4B |
| Dividend Yield | 4.76% | 1.08% |
| Holdings | 34 | 509 |
| Volatility (annualized) | 20.6% | 12.2%Best |
| Max Drawdown | -16.6%Best | -18.7% |
| $10,000 over 2.3 years | $15,479Best | $14,825 |
| Top 10 Weight | 45.9% | 36.4%Best |
| Fund Family | Rayliant Asset Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 4, 2024 | Sep 7, 2010 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 40 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. RAYJ has data through Jul 30, 2026 and VOO through Sep 8, 2026.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Apr 4, 2024 to Jul 30, 2026 (2.3 years).
Risk: Volatility and Drawdowns
RAYJ has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 12.2% 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 -16.6% for RAYJ and -18.7% 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 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
RAYJ charges 0.72% per year while VOO charges 0.03%. On a $10,000 position that is $72 vs $3 annually, a gap of $69 per year that compounds over a long holding period. On income, RAYJ currently yields 4.76% against 1.08% for VOO.
Holdings Overlap
We hold position weights for 32 holdings in RAYJ and 504 in VOO, totalling 99.8% and 99.9% 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 61 days apart, RAYJ as of Apr 30, 2026 and VOO as of Jun 30, 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 32 positions we hold weights for in RAYJ and 504 in VOO, against full books of 34 and 509.
What only one of them owns
Our book lists 494 positions for VOO that do not appear in our book for RAYJ (99.3% of the fund), and 0 for RAYJ that do not appear in VOO (0.0%).
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 RAYJ 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, RAYJ or VOO?
RAYJ has an expense ratio of 0.72% while VOO charges 0.03%. VOO is the cheaper option, by $69 a year on a $10,000 investment.
Which is riskier, RAYJ or VOO?
RAYJ has been the more volatile fund at 20.6% annualized versus 12.2% for VOO. Worst drawdown: RAYJ -16.6% vs VOO -18.7%.
Should I hold both RAYJ and VOO?
RAYJ and VOO have a monthly-return correlation of 0.65, 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, RAYJ or VOO?
RAYJ yields 4.76% while VOO yields 1.08%, so RAYJ currently pays the higher dividend yield.
Is VOO better than RAYJ?
VOO has a lower expense ratio. RAYJ led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 45.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.