PIM vs VOO
PIM vs VOO
Putnam Master Intermediate Income Trust vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PIM | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.03% | |
| AUM | $1,493.58 | $979.0B | |
| Dividend Yield | 7.79% | 1.09% | |
| Holdings | 775 | 509 | |
| YTD Return | -1.56% | +9.95% | |
| 1Y Return | +1.56% | +19.58% | |
| 3Y Return (annualized) | +7.58% | +19.43% | |
| 5Y Return (annualized) | +2.18% | +12.89% | |
| Volatility (annualized) | 10.7% | 14.2% | |
| Max Drawdown | -59.0% | -34.3% | |
| Fund Family | Putnam Investments | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 29, 1988 | Sep 7, 2010 |
PIM vs VOO Performance
Putnam Master Intermediate Income Trust (PIM) is a ETF from Putnam Investments and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PIM returned +1.56% while VOO returned +19.58%. Year to date, PIM is down 1.56% versus a gain of 9.95% for VOO.
Over three years, PIM compounded at +7.58% per year against +19.43% for VOO; over five years the annualized figures are +2.18% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +13.35% annualized vs -1.48%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 10.7% for PIM. 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 -59.0% for PIM and -34.3% for VOO. 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PIM charges 1.01% per year while VOO charges 0.03%. On a $10,000 position that is $101 vs $3 annually, a gap of $98 per year that compounds over a long holding period. On income, PIM currently yields 7.79% against 1.09% for VOO.
Holdings Overlap
PIM and VOO share 0 holdings out of 508 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, PIM or VOO?
PIM has an expense ratio of 1.01% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, PIM or VOO?
Over the past year PIM returned +1.56% vs +19.58% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), PIM annualized -1.48% vs +13.35% for VOO. Past performance does not guarantee future results.
Which is riskier, PIM or VOO?
VOO has been the more volatile fund at 14.2% annualized versus 10.7% for PIM. Worst drawdown: PIM -59.0% vs VOO -34.3%.
Should I hold both PIM and VOO?
PIM and VOO have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PIM and VOO?
PIM and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, PIM or VOO?
PIM yields 7.79% while VOO yields 1.09%, so PIM currently pays the higher dividend yield.
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