VOO vs ZHDG
Vanguard S&P 500 ETF vs ZEGA Buy and Hedge ETF
Which is better, VOO or ZHDG?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98.
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 | VOO | ZHDG |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.97% |
| AUM | $997.4B | $35M |
| Dividend Yield | 1.04% | 2.42% |
| Holdings | 509 | 11 |
| YTD Return | +11.55%Best | +5.11% |
| 1Y Return | +17.54%Best | +8.92% |
| 3Y Return (annualized) | +20.71%Best | +12.83% |
| 5Y Return (annualized) | +12.80%Best | +5.36% |
| Volatility (annualized) | 15.7% | 12.4%Best |
| Max Drawdown | -24.5% | -23.3%Best |
| $10,000 over 5 years | $18,262Best | $12,983 |
| Fund Family | Vanguard (US) | Zega ETFs |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 7, 2010 | Jul 6, 2021 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 7, 2021 to Sep 10, 2026 (5.2 years).
VOO vs ZHDG 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 5.2 years both funds cover.
VOO vs ZHDG Performance
Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US) and ZEGA Buy and Hedge ETF (ZHDG) is an ETF from Zega ETFs. Over the past year VOO returned +17.54% while ZHDG returned +8.92%. Year to date, VOO is up 11.55% versus a gain of 5.11% for ZHDG.
Over three years, VOO compounded at +20.71% per year against +12.83% for ZHDG; over five years the annualized figures are +12.80% and +5.36% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 12.4% for ZHDG. 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 -24.5% for VOO and -23.3% for ZHDG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VOO charges 0.03% per year while ZHDG charges 0.97%. On a $10,000 position that is $3 vs $97 annually, a gap of $94 per year that compounds over a long holding period. On income, VOO currently yields 1.04% against 2.42% for ZHDG.
Holdings Overlap
We hold position weights for 505 holdings in VOO and 2 in ZHDG, totalling 99.9% and 6.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 52 days apart, VOO as of Jun 30, 2026 and ZHDG as of Aug 21, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 505 positions we hold weights for in VOO and 2 in ZHDG, against full books of 509 and 11.
You are not choosing between two funds in isolation.
Whichever of VOO and ZHDG you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VOO or ZHDG?
VOO has an expense ratio of 0.03% while ZHDG charges 0.97%. VOO is the cheaper option, by $94 a year on a $10,000 investment.
Which performed better, VOO or ZHDG?
Over the past year VOO returned +17.54% vs +8.92% for ZHDG, so VOO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VOO or ZHDG?
VOO has been the more volatile fund at 15.7% annualized versus 12.4% for ZHDG. Worst drawdown: VOO -24.5% vs ZHDG -23.3%.
Should I hold both VOO and ZHDG?
VOO and ZHDG have a monthly-return correlation of 0.98, 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.
Which pays a higher dividend, VOO or ZHDG?
VOO yields 1.04% while ZHDG yields 2.42%, so ZHDG currently pays the higher dividend yield.
Is ZHDG better than VOO?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.