Data as of Oct 28, 2026.
HYG vs VOO: Differences, Returns & Fees
Over the year to Oct 28, 2026, HYG returned +1.3% to VOO's +13.7%; 0% of their weight is in the same names.
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Net assets: $17.5bn on Oct 27, 2026 for iShares iBoxx $ High Yield Corporate Bond ETF, and $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.
Pair scorecard
VOO costs 0.46 points a year less; their one-year returns differ by 12.4 points; VOO is far larger, $1.0tn against $16.8bn.
| Measure | HYG | VOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.3% | +13.7% |
| Benchmark | ||
| What it tracks | Markit iBoxx USD Liquid High Yield Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.49% | 0.03% |
| Net assets, as of Sep 30, 2026 | $16.8bn | $1.0tn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 39.1% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 17, 2010 to Oct 23, 2026 · 840 weekly returnsEach against its own benchmark: HYG against IUSB, Jun 20, 2014 to Oct 23, 2026; VOO against IVV, Sep 17, 2010 to Oct 23, 2026.
VOO returned more: +804.0% to +115.3%. HYG swung less: 8.9% to 15.9%. HYG fell less at its worst: −20.7% to −31.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | HYG | VOO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +115.3% | +804.0% | VOO | Price change plus distributions, reinvested. |
| Annualized | +4.9% | +14.6% | VOO | Total return as a yearly rate. |
| Price return | −13.4% | +575.9% | VOO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 8.9% | 15.9% | HYG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 6.1% | 10.9% | HYG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −20.7% | −31.8% | HYG | Deepest fall from a high to the low after it. |
| Upside capture | 62.1% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 48.4% | 99.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.31 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.40 | 0.84 | VOO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.58 | 1.22 | VOO | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.019 | 0.134 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.23 | 0.46 | VOO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IUSB | IVV | The ETF each fund is measured against. | |
| Alpha | +1.9% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.87 | 0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −2.4% to +6.1% | −0.1% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.25 | 0.02 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.6% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 840 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, HYG and VOO hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
HYG and VOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
HYG and VOO do different jobs. What does each one do in a portfolio?
- What each follows. HYG follows Markit iBoxx USD Liquid High Yield Index and VOO follows S&P 500 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 HYG returned +1.3% and VOO +13.7% with distributions reinvested, a gap of 12.4 points.
Data as of Oct 28, 2026.
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HYG
HYG tracks an index of US high yield bonds. Over the year to Oct 28, 2026 it returned +1.3% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.49% a year.
VOO
VOO tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 507 positions, with the top ten at 39.1%.
Questions people ask
- Which returned more over the last year, HYG or VOO?
- In the year to Oct 28, 2026, with distributions reinvested, HYG returned +1.3% and VOO +13.7%.
- Which is cheaper, HYG or VOO?
- VOO is cheaper, by 0.46 percentage points a year. That is about $46 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, HYG against VOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/hyg-vs-voo
ETFIQ. (Oct 28, 2026). HYG against VOO. Retrieved from https://etfiq.com/compare/any/hyg-vs-voo
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