CDEI vs VOO
Calvert US Large-Cap Diversity, Equity and Inclusion Index ETF vs Vanguard S&P 500 ETF
Which is better, CDEI or VOO?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. CDEI led over 1Y, VOO over the full window. The two have moved almost in lockstep, correlation 0.97. VOO is less concentrated, with 39.1% of the fund in its ten largest positions against 50.3%.
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 | CDEI | VOO |
|---|---|---|
| Expense Ratio | 0.14% | 0.03%Best |
| AUM | $19M | $1.0T |
| Dividend Yield | 0.95% | 1.05% |
| Holdings | 466 | 519 |
| Volatility (annualized) | 12.2%Best | 12.3% |
| Max Drawdown | -19.5% | -18.7%Best |
| $10,000 over 3.7 years | $18,951 | $19,367Best |
| Top 10 Weight | 50.3% | 39.1%Best |
| Fund Family | Calvert | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 30, 2023 | Sep 7, 2010 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 21 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CDEI has data through Oct 23, 2026 and VOO through Nov 13, 2026.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Feb 1, 2023 to Oct 23, 2026 (3.7 years).
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 12.2% for CDEI. 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 -19.5% for CDEI and -18.7% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CDEI charges 0.14% per year while VOO charges 0.03%. On a $10,000 position that is $14 vs $3 annually, a gap of $11 per year that compounds over a long holding period. On income, CDEI currently yields 0.95% against 1.05% for VOO.
Holdings Overlap
97.5% of CDEI's money is in holdings VOO also owns. 51.4% of VOO's money is in holdings CDEI also owns.
Most of CDEI is already inside VOO. Owning both mostly buys the same companies twice.
167 positions in common, counted across the 230 positions we hold weights for in CDEI and 506 in VOO, against full books of 466 and 519.
What only one of them owns
Our book lists 335 positions for VOO that do not appear in our book for CDEI (48.7% of the fund), and 58 for CDEI that do not appear in VOO (2.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CDEI | Weight in VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 9.71% | 8.39% | 1.32% |
| AAPLApple, Inc | 8.91% | 7.38% | 1.53% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 7.33% | 5.78% | 1.55% |
| GOOGLAlphabet Inc | 7.27% | 3.07% | 4.20% |
| AMDAdvanced Micro Devices, Inc | 4.12% | 1.52% | 2.60% |
| LLYEli Lilly & Co. | 3.32% | 1.41% | 1.91% |
| JPMJpmorgan Chase & Co. | 3.09% | 1.33% | 1.76% |
| VVisa Inc | 2.47% | 0.91% | 1.56% |
| INTCIntel Corp. | 2.17% | 0.91% | 1.26% |
| ABBVAbbvie Inc. | 1.87% | 0.70% | 1.17% |
97.5% of CDEI is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CDEI or VOO?
CDEI has an expense ratio of 0.14% while VOO charges 0.03%. VOO is the cheaper option, by $11 a year on a $10,000 investment.
Which is riskier, CDEI or VOO?
VOO has been the more volatile fund at 12.3% annualized versus 12.2% for CDEI. Worst drawdown: CDEI -19.5% vs VOO -18.7%.
Should I hold both CDEI and VOO?
CDEI and VOO have a monthly-return correlation of 0.97, 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.
What is the holdings overlap between CDEI and VOO?
97.5% of CDEI's money is in holdings VOO also owns. 51.4% of VOO's is in holdings CDEI also owns. They hold 167 positions in common, counted across the 230 positions we hold weights for in CDEI and 506 in VOO.
Which pays a higher dividend, CDEI or VOO?
CDEI yields 0.95% while VOO yields 1.05%, so VOO currently pays the higher dividend yield.
Is VOO better than CDEI?
VOO has a lower expense ratio. CDEI led over 1Y, VOO over the full window. The two have moved almost in lockstep, correlation 0.97. VOO is less concentrated, with 39.1% of the fund in its ten largest positions against 50.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.