Are ORR and VOO in the same category?

ORR is an alternatives ETF and VOO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, ORR or VOO?

In the year to Nov 4, 2026, with distributions reinvested, ORR returned +21.6% and VOO +14.8%.

Data as of Nov 4, 2026.

Across categories

ORR vs VOO: Differences, Returns & Fees

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Over the year to Nov 4, 2026, ORR returned +21.6% to VOO's +14.8%.

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Net assets: $355m on Aug 31, 2026 for Militia Long/Short Equity ETF, and $1.0tn on Oct 31, 2026 for Vanguard S&P 500 ETF.

ORR on its own →VOO on its own →

At a glance

Pair scorecard

Their one-year returns differ by 6.8 points.

ORR vs VOO: Differences, Returns & Fees
Measure	ORR	VOO
Return
Measure	ORR	VOO
Total return, 1 year	+21.6%	+14.8%
Total return, 52 weeks	+20.3%
Against its benchmark
Measure	ORR	VOO
What it tracks	not published	S&P 500 Index
Treasury bills, 52 weeks	+3.7%
Against cash	16.7 points ahead
Cost and size
Measure	ORR	VOO
Expense ratio	not published	0.03%
Net assets, ORR as of Aug 31, 2026 and VOO as of Oct 31, 2026	$355m	$1.0tn
Holdings
Measure	ORR	VOO
Holdings in common	not published
In the S&P 500, by weight		100%
Holdings dated		Sep 30, 2026
Top ten holdings, share of the fund		39.1%
Risk
Measure	ORR	VOO
Correlation with the S&P 500’s weekly returns	+0.41
Beta to the S&P 500	+0.47: about 0.47% for each 1%
Its average week when the S&P 500 fell	fell 0.27%
Down-week capture	25.0%
Weeks the S&P 500 fell	26 of 52, by 1.07% on average

Method

Risk and return

Jan 24, 2025 to Oct 30, 2026 · 92 weekly returns

ORR VOO

Return

Total return edge ORR +44.7% +26.9%

Annualized edge ORR +23.2% +14.4%

Price return edge ORR +44.7% +24.3%

Risk

Volatility edge ORR (slight) 13.9% 14.9%

Max drawdown edge ORR −9.3% −16.7%

Risk-adjusted

Sharpe edge ORR 1.29 0.71

Sortino edge ORR 2.00 1.07

Calmar edge ORR 2.50 0.86

Reading

From Jan 2025 to Oct 2026, ORR returned more: +44.7% to +26.9%. ORR swung slightly less: 13.9% to 14.9%. ORR fell less at its worst: −9.3% to −16.7%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: ORR vs VOO: Differences, Returns & Fees
Measure	ORR	VOO	Edge	How it is measured
Return
Total return	+44.7%	+26.9%	ORR	Price change plus distributions, reinvested.
Annualized	+23.2%	+14.4%	ORR	Total return as a yearly rate.
Price return	+44.7%	+24.3%	ORR	Price change alone, distributions left out.
Risk
Volatility	13.9%	14.9%	ORR (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.9%	9.9%	ORR	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−9.3%	−16.7%	ORR	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	1.29	0.71	ORR	Return above Treasury bills per unit of volatility.
Sortino	2.00	1.07	ORR	Return above Treasury bills per unit of downside deviation.
Calmar	2.50	0.86	ORR	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 92 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

ORR Militia Long/Short Equity ETF VOO Vanguard S&P 500 ETF

Where it sits Alternatives ETF Stock ETF

Issuer Militia Vanguard

What it is Long-short equity Tracks the S&P 500

Total return, 1 year +21.6% +14.8%

Its benchmark over the same days not measured +14.8% (IVV)

Gap to its benchmark not measured 0.0 pts vs IVV

Expense ratio not published 0.03%

Holdings not read by ETFIQ 505

Net assets, ORR as of Aug 31, 2026 and VOO as of Oct 31, 2026 $355m $1.0tn

ORR and VOO on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Client brief

No client brief for this pair: ETFIQ prints no expense ratio for ORR.

Alert

About each fund

ORR

ORR is a long-short equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.41 with the S&P 500’s and a beta of +0.47, so for each 1% the index moved it moved about 0.47% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks ORR fell 0.27% on average, a down-week capture of 25.0%. Over the same 52 weeks ORR returned +20.3% and a Treasury bill fund +3.7%, so it finished 16.7 percentage points ahead of cash.

VOO

VOO tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% 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 505 positions, with the top ten at 39.1%.

Questions people ask

Are ORR and VOO in the same category?: ORR is an alternatives ETF and VOO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, ORR or VOO?: In the year to Nov 4, 2026, with distributions reinvested, ORR returned +21.6% and VOO +14.8%.

Other comparisons

IVV vs ORR ORR vs SPY ORR vs QQQ ORR vs TLT CSM vs VOO CLSE vs VOO EHLS vs VOO CBLS vs VOO

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →ORR on its own →VOO on its own →Hold both: look the portfolio through →Rankings →VOO dividend history →VOO holdings →Standards and sources →

Sources and dates

ORR filings on SEC EDGAR ↗

ORR prospectus with the expense ratio (SEC) ↗

Militia page for ORR ↗

VOO filings on SEC EDGAR ↗

VOO prospectus with the expense ratio (SEC) ↗

Vanguard page for VOO ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, ORR against VOO, data as of Nov 4, 2026. https://etfiq.com/compare/any/orr-vs-voo

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.