SAA vs VOO
ProShares Ultra SmallCap600 vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. SAA delivered stronger 1-year returns. SAA offers more diversification with 600 holdings.
Side-by-Side Comparison
| Metric | SAA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $29M | $979.0B | |
| Dividend Yield | 0.74% | 1.09% | |
| Holdings | 607 | 509 | |
| YTD Return | +42.91% | +13.79% | |
| 1Y Return | +68.46% | +23.01% | |
| 3Y Return (annualized) | +19.04% | +21.78% | |
| 5Y Return (annualized) | +4.69% | +13.39% | |
| Volatility (annualized) | 41.1% | 14.1% | |
| Max Drawdown | -88.1% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 23, 2007 | Sep 7, 2010 |
SAA vs VOO Performance
ProShares Ultra SmallCap600 (SAA) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SAA returned +68.46% while VOO returned +23.01%. Year to date, SAA is up 42.91% versus a gain of 13.79% for VOO.
Over three years, SAA compounded at +19.04% per year against +21.78% for VOO; over five years the annualized figures are +4.69% and +13.39% respectively. Across the full 16-year window we track, VOO has the edge at +13.57% annualized vs +9.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SAA has been the more volatile fund, with annualized monthly volatility of 41.1% 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 -88.1% for SAA 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SAA charges 0.95% per year while VOO charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, SAA currently yields 0.74% against 1.09% for VOO.
Holdings Overlap
SAA and VOO share 3 holdings out of 1102 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SAA or VOO?
SAA has an expense ratio of 0.95% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, SAA or VOO?
Over the past year SAA returned +68.46% vs +23.01% for VOO, so SAA leads on 1-year performance. Over the longest common window we track (16 years), SAA annualized +9.08% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, SAA or VOO?
SAA has been the more volatile fund at 41.1% annualized versus 14.1% for VOO. Worst drawdown: SAA -88.1% vs VOO -34.3%.
Should I hold both SAA and VOO?
SAA and VOO have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SAA and VOO?
SAA and VOO share 3 common holdings with a 0.1% weight overlap. Combined, they hold 1102 unique securities.
Which pays a higher dividend, SAA or VOO?
SAA yields 0.74% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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