TMAT vs VOO
Main Thematic Innovation ETF vs Vanguard S&P 500 ETF
Which is better, TMAT or VOO?
All Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. TMAT led over 3Y, VOO over 1Y, 5Y and the full window. TMAT is less concentrated, with 26.9% of the fund in its ten largest positions against 36.4%.
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 | TMAT | VOO |
|---|---|---|
| Expense Ratio | 0.82% | 0.03%Best |
| AUM | $249M | $997.4B |
| Dividend Yield | 0.02% | 1.08% |
| Holdings | 89 | 509 |
| YTD Return | +11.82% | +13.37%Best |
| 1Y Return | +12.10% | +20.08%Best |
| 3Y Return (annualized) | +24.62%Best | +21.29% |
| 5Y Return (annualized) | +3.73% | +12.89%Best |
| Volatility (annualized) | 27.9% | 15.1%Best |
| Max Drawdown | -58.5% | -24.5%Best |
| $10,000 over 5 years | $12,009 | $18,335Best |
| Top 10 Weight | 26.9%Best | 36.4% |
| Fund Family | Main Management ETF Advisors, LLC | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Jan 28, 2021 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Jan 29, 2021 to Sep 4, 2026 (5.6 years).
TMAT 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 5.6 years both funds cover.
TMAT vs VOO Performance
Main Thematic Innovation ETF (TMAT) is an ETF from Main Management ETF Advisors, LLC and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year TMAT returned +12.10% while VOO returned +20.08%. Year to date, TMAT is up 11.82% versus a gain of 13.37% for VOO.
Over three years, TMAT compounded at +24.62% per year against +21.29% for VOO; over five years the annualized figures are +3.73% and +12.89% respectively. Across the full 6-year window we track, VOO has the edge at +15.59% annualized vs +2.52%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMAT has been the more volatile fund, with annualized monthly volatility of 27.9% 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 -58.5% for TMAT and -24.5% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
TMAT charges 0.82% per year while VOO charges 0.03%. On a $10,000 position that is $82 vs $3 annually, a gap of $79 per year that compounds over a long holding period. On income, TMAT currently yields 0.02% against 1.08% for VOO.
Holdings Overlap
43.6% of TMAT's money is in holdings VOO also owns. 8.1% of VOO's money is in holdings TMAT also owns.
The two portfolios partly overlap.
The two holdings books were reported 49 days apart, TMAT as of Aug 18, 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.
38 positions in common, counted across the 97 positions we hold weights for in TMAT and 505 in VOO, against full books of 89 and 509.
What only one of them owns
Our book lists 459 positions for VOO that do not appear in our book for TMAT (91.4% of the fund), and 45 for TMAT that do not appear in VOO (46.6%).
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 TMAT | Weight in VOO | Difference |
|---|---|---|---|
| MUMicron Technology, Inc. | 4.54% | 2.02% | 2.52% |
| PANWPalo Alto Networks, Inc | 4.72% | 0.43% | 4.29% |
| AMDAdvanced Micro Devices Inc | 1.96% | 1.47% | 0.49% |
| FTNTFortinet Inc | 2.41% | 0.15% | 2.26% |
| LITELumentum Holdings Inc | 2.37% | 0.10% | 2.27% |
| KEYSKeysight Technologies Inc. | 1.96% | 0.09% | 1.87% |
| GEVGe Vernova, Inc. | 1.36% | 0.49% | 0.87% |
| TERTeradyne Inc - Common | 1.64% | 0.12% | 1.52% |
| ADSKAutodesk, Inc. | 1.59% | 0.06% | 1.53% |
| MRVLMarvell Technology Group Ltd. | 1.24% | 0.40% | 0.84% |
43.6% of TMAT 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, TMAT or VOO?
TMAT has an expense ratio of 0.82% while VOO charges 0.03%. VOO is the cheaper option, by $79 a year on a $10,000 investment.
Which performed better, TMAT or VOO?
Over the past year TMAT returned +12.10% vs +20.08% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), TMAT annualized +2.52% vs +15.59% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TMAT or VOO?
TMAT has been the more volatile fund at 27.9% annualized versus 15.1% for VOO. Worst drawdown: TMAT -58.5% vs VOO -24.5%.
Should I hold both TMAT and VOO?
TMAT and VOO have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between TMAT and VOO?
43.6% of TMAT's money is in holdings VOO also owns. 8.1% of VOO's is in holdings TMAT also owns. They hold 38 positions in common, counted across the 97 positions we hold weights for in TMAT and 505 in VOO.
Which pays a higher dividend, TMAT or VOO?
TMAT yields 0.02% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
Is VOO better than TMAT?
VOO has a lower expense ratio. TMAT led over 3Y, VOO over 1Y, 5Y and the full window. TMAT is less concentrated, with 26.9% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.