TFI vs VOO
State Street SPDR Nuveen ICE Municipal Bond ETF 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 | TFI | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.23% | 0.03% | |
| AUM | $3.1B | $979.0B | |
| Dividend Yield | 3.46% | 1.09% | |
| Holdings | 1,809 | 509 | |
| YTD Return | +0.26% | +13.72% | |
| 1Y Return | +4.29% | +21.63% | |
| 3Y Return (annualized) | +2.58% | +21.55% | |
| 5Y Return (annualized) | -0.34% | +13.26% | |
| Volatility (annualized) | 5.8% | 14.1% | |
| Max Drawdown | -17.1% | -34.3% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Sep 11, 2007 | Sep 7, 2010 |
TFI vs VOO Performance
State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) is a ETF from State Street Investment Management and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year TFI returned +4.29% while VOO returned +21.63%. Year to date, TFI is up 0.26% versus a gain of 13.72% for VOO.
Over three years, TFI compounded at +2.58% per year against +21.55% for VOO; over five years the annualized figures are -0.34% and +13.26% respectively. Across the full 16-year window we track, VOO has the edge at +13.56% annualized vs +0.81%. 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 5.8% for TFI. 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 -17.1% for TFI 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
TFI charges 0.23% per year while VOO charges 0.03%. On a $10,000 position that is $23 vs $3 annually, a gap of $20 per year that compounds over a long holding period. On income, TFI currently yields 3.46% against 1.09% for VOO.
Holdings Overlap
TFI and VOO share 0 holdings out of 512 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, TFI or VOO?
TFI has an expense ratio of 0.23% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, TFI or VOO?
Over the past year TFI returned +4.29% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), TFI annualized +0.81% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, TFI or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 5.8% for TFI. Worst drawdown: TFI -17.1% vs VOO -34.3%.
Should I hold both TFI and VOO?
TFI and VOO have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between TFI and VOO?
TFI and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, TFI or VOO?
TFI yields 3.46% while VOO yields 1.09%, so TFI currently pays the higher dividend yield.
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