VOO vs ZMAY
Vanguard S&P 500 ETF vs Innovator Equity Defined Protection ETF - 1 Yr May
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | VOO | ZMAY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.79% | |
| AUM | $997.4B | $83M | |
| Dividend Yield | 1.08% | 0.00% | |
| Holdings | 509 | 7 | |
| YTD Return | +14.27% | +3.28% | |
| 1Y Return | +21.79% | +5.44% | |
| 3Y Return (annualized) | +22.19% | - | |
| 5Y Return (annualized) | +13.28% | - | |
| Volatility (annualized) | 14.2% | 1.0% | |
| Max Drawdown | -34.3% | -0.7% | |
| Fund Family | Vanguard (US) | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Sep 7, 2010 | May 1, 2025 |
VOO vs ZMAY Performance
Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY) is a ETF from Innovator ETFs Trust. Over the past year VOO returned +21.79% while ZMAY returned +5.44%. Year to date, VOO is up 14.27% versus a gain of 3.28% for ZMAY.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 1.0% for ZMAY. 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 -34.3% for VOO and -0.7% for ZMAY. 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VOO charges 0.03% per year while ZMAY charges 0.79%. On a $10,000 position that is $3 vs $79 annually, a gap of $76 per year that compounds over a long holding period. On income, VOO currently yields 1.08% against 0.00% for ZMAY.
Holdings Overlap
VOO and ZMAY 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, VOO or ZMAY?
VOO has an expense ratio of 0.03% while ZMAY charges 0.79%. VOO is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, VOO or ZMAY?
Over the past year VOO returned +21.79% vs +5.44% for ZMAY, so VOO leads on 1-year performance. Over the longest common window we track (1 years), VOO annualized +13.59% vs +6.26% for ZMAY. Past performance does not guarantee future results.
Which is riskier, VOO or ZMAY?
VOO has been the more volatile fund at 14.2% annualized versus 1.0% for ZMAY. Worst drawdown: VOO -34.3% vs ZMAY -0.7%.
Should I hold both VOO and ZMAY?
VOO and ZMAY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VOO and ZMAY?
VOO and ZMAY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, VOO or ZMAY?
VOO yields 1.08% while ZMAY yields 0.00%, so VOO currently pays the higher dividend yield.
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