SPXE vs VOO
ProShares S&P 500 Ex-Energy ETF vs Vanguard S&P 500 ETF
Which is better, SPXE or VOO?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. SPXE led over 3Y and the full window, VOO over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.99. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 39.1%.
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 | SPXE | VOO |
|---|---|---|
| Expense Ratio | 0.09% | 0.03%Best |
| AUM | $86M | $997.4B |
| Dividend Yield | 0.94% | 1.04% |
| Holdings | 483 | 509 |
| YTD Return | +10.53% | +11.48%Best |
| 1Y Return | +14.73% | +15.94%Best |
| 3Y Return (annualized) | +21.04%Best | +21.01% |
| 5Y Return (annualized) | +12.07% | +12.66%Best |
| Volatility (annualized) | 15.2% | 15.1%Best |
| Max Drawdown | -32.3%Best | -34.3% |
| $10,000 over 5 years | $17,679 | $18,149Best |
| Top 10 Weight | 39.1% | 37.6%Best |
| Fund Family | ProShares | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 22, 2015 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 24, 2015 to Sep 15, 2026 (11 years).
SPXE vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11 years both funds cover.
SPXE vs VOO Performance
ProShares S&P 500 Ex-Energy ETF (SPXE) is an ETF from ProShares and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year SPXE returned +14.73% while VOO returned +15.94%. Year to date, SPXE is up 10.53% versus a gain of 11.48% for VOO.
Over three years, SPXE compounded at +21.04% per year against +21.01% for VOO; over five years the annualized figures are +12.07% and +12.66% respectively. Across the full 11-year window we track, SPXE has the edge at +14.32% annualized vs +14.10%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXE has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 15.1% 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 -32.3% for SPXE and -34.3% 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPXE charges 0.09% per year while VOO charges 0.03%. On a $10,000 position that is $9 vs $3 annually, a gap of $6 per year that compounds over a long holding period. On income, SPXE currently yields 0.94% against 1.04% for VOO.
Holdings Overlap
97.9% of SPXE's money is in holdings VOO also owns. 94.7% of VOO's money is in holdings SPXE also owns.
Most of SPXE is already inside VOO. Owning both mostly buys the same companies twice.
460 positions in common, counted across the 481 positions we hold weights for in SPXE and 494 in VOO, against full books of 483 and 509.
What only one of them owns
Our book lists 33 positions for VOO that do not appear in our book for SPXE (4.7% of the fund), and 14 for SPXE that do not appear in VOO (1.3%).
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.
Top Shared Holdings
| Stock | Weight in SPXE | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.37% | 7.55% | 0.82% |
| AAPLApple, Inc | 7.28% | 7.05% | 0.23% |
| MSFTMicrosoft Corp | 5.90% | 5.36% | 0.54% |
| AMZNAmazon.Com Inc | 3.98% | 4.13% | 0.15% |
| GOOGLAlphabet Inc,class A | 3.11% | 3.24% | 0.13% |
| AVGOBroadcom Inc | 2.74% | 2.86% | 0.12% |
| GOOGAlphabet Inc | 2.48% | 2.62% | 0.14% |
| METAMeta Platforms Inc | 1.97% | 1.90% | 0.07% |
| MUMicron Technology, Inc. | 1.69% | 1.44% | 0.25% |
| TSLATesla Inc | 1.62% | 1.36% | 0.26% |
97.9% of SPXE is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPXE or VOO?
SPXE has an expense ratio of 0.09% while VOO charges 0.03%. VOO is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPXE or VOO?
Over the past year SPXE returned +14.73% vs +15.94% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (11 years), SPXE annualized +14.32% vs +14.10% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXE or VOO?
SPXE has been the more volatile fund at 15.2% annualized versus 15.1% for VOO. Worst drawdown: SPXE -32.3% vs VOO -34.3%.
Should I hold both SPXE and VOO?
SPXE and VOO have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPXE and VOO?
97.9% of SPXE's money is in holdings VOO also owns. 94.7% of VOO's is in holdings SPXE also owns. They hold 460 positions in common, counted across the 481 positions we hold weights for in SPXE and 494 in VOO.
Which pays a higher dividend, SPXE or VOO?
SPXE yields 0.94% while VOO yields 1.04%, so VOO currently pays the higher dividend yield.
Is VOO better than SPXE?
VOO has a lower expense ratio. SPXE led over 3Y and the full window, VOO over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.99. VOO is less concentrated, with 37.6% of the fund in its ten largest positions against 39.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.