TPZ vs VOO
Tortoise Essential Energy Fund vs Vanguard S&P 500 ETF
Which is better, TPZ or VOO?
Mid Cap Value against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 55.4%.
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 | TPZ | VOO |
|---|---|---|
| Expense Ratio | 0.85% | 0.03%Best |
| AUM | $120M | $997.4B |
| Dividend Yield | 3.15% | 1.08% |
| Holdings | 35 | 509 |
| Volatility (annualized) | 25.0% | 14.3%Best |
| Max Drawdown | -87.9% | -34.3%Best |
| $10,000 over 14.4 years | $28,370 | $58,343Best |
| Top 10 Weight | 55.4% | 36.4%Best |
| Fund Family | Tortoise Capital | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Jul 29, 2009 | Sep 7, 2010 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 588 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. TPZ has data through Jan 28, 2025 and VOO through Sep 8, 2026.
Volatility and max drawdown, and the $10,000 over 14.4 years row, are measured over the window both funds cover: Sep 9, 2010 to Jan 28, 2025 (14.4 years).
Risk: Volatility and Drawdowns
TPZ has been the more volatile fund, with annualized monthly volatility of 25.0% compared with 14.3% 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 -87.9% for TPZ 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 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
TPZ charges 0.85% per year while VOO charges 0.03%. On a $10,000 position that is $85 vs $3 annually, a gap of $82 per year that compounds over a long holding period. On income, TPZ currently yields 3.15% against 1.08% for VOO.
Holdings Overlap
56.8% of TPZ's money is in holdings VOO also owns. 1.7% of VOO's money is in holdings TPZ also owns.
The two portfolios partly overlap.
The two holdings books were reported 49 days apart, TPZ 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.
16 positions in common, counted across the 32 positions we hold weights for in TPZ and 504 in VOO, against full books of 35 and 509.
What only one of them owns
Our book lists 478 positions for VOO that do not appear in our book for TPZ (97.6% of the fund), and 12 for TPZ that do not appear in VOO (34.4%).
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 TPZ | Weight in VOO | Difference |
|---|---|---|---|
| TRGPTarga Resources Inc | 6.55% | 0.09% | 6.46% |
| ETREntergy Corp. | 6.04% | 0.08% | 5.96% |
| WMBWilliams Cos Inc/the | 5.67% | 0.14% | 5.53% |
| CEGConstellation Energy Corp | 5.22% | 0.12% | 5.10% |
| OKEOneok Inc. | 4.05% | 0.08% | 3.97% |
| VSTVistra Energy Corp Esrw A/c Usd Npv Ref Sm# 599782 * Fma Only* | 3.46% | 0.08% | 3.38% |
| CNPCenterpoint Energy Inc | 3.44% | 0.04% | 3.40% |
| SRESempra | 3.19% | 0.09% | 3.10% |
| WECWisconsin Public Service Corporati | 3.18% | 0.06% | 3.12% |
| NEENextera Energy Inc | 2.94% | 0.28% | 2.66% |
56.8% of TPZ 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, TPZ or VOO?
TPZ has an expense ratio of 0.85% while VOO charges 0.03%. VOO is the cheaper option, by $82 a year on a $10,000 investment.
Which is riskier, TPZ or VOO?
TPZ has been the more volatile fund at 25.0% annualized versus 14.3% for VOO. Worst drawdown: TPZ -87.9% vs VOO -34.3%.
Should I hold both TPZ and VOO?
TPZ and VOO have a monthly-return correlation of 0.66, 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 TPZ and VOO?
56.8% of TPZ's money is in holdings VOO also owns. 1.7% of VOO's is in holdings TPZ also owns. They hold 16 positions in common, counted across the 32 positions we hold weights for in TPZ and 504 in VOO.
Which pays a higher dividend, TPZ or VOO?
TPZ yields 3.15% while VOO yields 1.08%, so TPZ currently pays the higher dividend yield.
Is VOO better than TPZ?
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 55.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.