Are TOAK and VOO in the same category?

TOAK 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, TOAK or VOO?

In the year to Oct 27, 2026, with distributions reinvested, TOAK returned +3.6% and VOO +13.6%.

Which is cheaper, TOAK or VOO?

VOO is cheaper, by 0.23 percentage points a year. That is about $23 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 27, 2026.

Across categories

TOAK vs VOO: Differences, Returns & Fees

Over the year to Oct 27, 2026, TOAK returned +3.6% to VOO's +13.6%, and VOO charges 0.03% to TOAK's 0.26%.

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Net assets: $90m on May 31, 2026 for Manager Directed Portfolios Twin Oak Short Horizon Absolute Return ETF, and $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.

TOAK on its own →VOO on its own →

At a glance

+3.6%

TOAK total return, 1 year

+13.6%

VOO total return, 1 year

0.26%

TOAK expense ratio

0.03%

VOO expense ratio

Pair scorecard

VOO costs 0.23 points a year less; their one-year returns differ by 10.0 points.

TOAK vs VOO: Differences, Returns & Fees
Measure	TOAK	VOO
Return
Measure	TOAK	VOO
Total return, 1 year	+3.6%	+13.6%
Total return, 52 weeks	+3.6%
Against its benchmark
Measure	TOAK	VOO
What it tracks	not published	S&P 500 Index
Treasury bills, 52 weeks	+3.7%
Against cash	0.1 points behind
Cost and size
Measure	TOAK	VOO
Expense ratio	0.26%	0.03%
Net assets, TOAK as of May 31, 2026 and VOO as of Sep 30, 2026	$90m	$1.0tn
Holdings
Measure	TOAK	VOO
Holdings in common	not published
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		39.1%
Risk
Measure	TOAK	VOO
Correlation with the S&P 500’s weekly returns	+0.17
Beta to the S&P 500	+0.04: about 0.04% for each 1%
Its average week when the S&P 500 fell	fell 0.02%
Down-week capture	1.9%
Weeks the S&P 500 fell	25 of 52, by 1.10% on average

Method

Side by side

TOAK Manager Directed Portfolios Twin Oak Short Horizon Absolute Return ETF VOO Vanguard S&P 500 ETF

Where it sits Alternatives ETF Stock ETF

Issuer Manager Directed Portfolios Vanguard

What it is Hedged equity Tracks the S&P 500

Total return, 1 year +3.6% +13.6%

Its benchmark over the same days not measured +13.6% (IVV)

Gap to its benchmark not measured 0.0 pts vs IVV

Expense ratio 0.26% 0.03%

Holdings not read by ETFIQ 507

Net assets, TOAK as of May 31, 2026 and VOO as of Sep 30, 2026 $90m $1.0tn

TOAK and VOO on the fields both publish, as of Oct 27, 2026. Source: ETFIQ.

Alert

About each fund

TOAK

TOAK is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Oct 27, 2026, its weekly returns had a correlation of +0.17 with the S&P 500’s and a beta of +0.04, so for each 1% the index moved it moved about 0.04% the same way. The S&P 500 fell in 25 of those 52 weeks, by 1.10% on average. In the same weeks TOAK fell 0.02% on average, a down-week capture of 1.9%. Over the same 52 weeks TOAK returned +3.6% and a Treasury bill fund +3.7%, so it finished 0.1 percentage points behind cash.

VOO

VOO tracks the S&P 500. Over the year to Oct 27, 2026 it returned +13.6% with distributions reinvested, against +13.6% 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

Are TOAK and VOO in the same category?: TOAK 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, TOAK or VOO?: In the year to Oct 27, 2026, with distributions reinvested, TOAK returned +3.6% and VOO +13.6%.
Which is cheaper, TOAK or VOO?: VOO is cheaper, by 0.23 percentage points a year. That is about $23 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

SPY vs TOAK IVV vs TOAK QQQ vs TOAK GLD vs TOAK HEDG vs VOO HEGD vs VOO CAOS vs VOO FHEQ vs VOO

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →TOAK 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

TOAK filings on SEC EDGAR ↗

TOAK prospectus with the expense ratio (SEC) ↗

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.

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ETFIQ, TOAK against VOO, data as of Oct 27, 2026. https://etfiq.com/compare/any/toak-vs-voo

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