TBX vs VOO
ProShares Short 7-10 Year Treasury 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 | TBX | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $16M | $979.0B | |
| Dividend Yield | 2.89% | 1.09% | |
| Holdings | 5 | 509 | |
| YTD Return | +4.68% | +13.72% | |
| 1Y Return | +4.81% | +21.63% | |
| 3Y Return (annualized) | +2.59% | +21.55% | |
| 5Y Return (annualized) | +6.02% | +13.26% | |
| Volatility (annualized) | 6.4% | 14.1% | |
| Max Drawdown | -42.4% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 4, 2011 | Sep 7, 2010 |
TBX vs VOO Performance
ProShares Short 7-10 Year Treasury (TBX) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TBX returned +4.81% while VOO returned +21.63%. Year to date, TBX is up 4.68% versus a gain of 13.72% for VOO.
Over three years, TBX compounded at +2.59% per year against +21.55% for VOO; over five years the annualized figures are +6.02% and +13.26% respectively. Across the full 15-year window we track, VOO has the edge at +13.56% annualized vs -1.37%. 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 6.4% for TBX. 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 -42.4% for TBX 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 0.00. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TBX 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, TBX currently yields 2.89% against 1.09% for VOO.
Holdings Overlap
TBX and VOO share 0 holdings out of 506 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, TBX or VOO?
TBX 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, TBX or VOO?
Over the past year TBX returned +4.81% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (15 years), TBX annualized -1.37% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, TBX or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 6.4% for TBX. Worst drawdown: TBX -42.4% vs VOO -34.3%.
Should I hold both TBX and VOO?
TBX and VOO have a monthly-return correlation of 0.00, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TBX and VOO?
TBX and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, TBX or VOO?
TBX yields 2.89% while VOO yields 1.09%, so TBX currently pays the higher dividend yield.
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