FLSP vs VOO
Franklin Systematic Style Premia ETF vs Vanguard S&P 500 ETF
Which is better, FLSP or VOO?
Multi Alternative against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window.
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 | FLSP | VOO |
|---|---|---|
| Expense Ratio | 0.65% | 0.03%Best |
| AUM | $1.1B | $1.0T |
| Dividend Yield | 2.54% | 1.04% |
| Holdings | 1,124 | 506 |
| YTD Return | +6.11% | +14.98%Best |
| 1Y Return | +11.86% | +17.34%Best |
| 3Y Return (annualized) | +10.14% | +23.33%Best |
| 5Y Return (annualized) | +8.36% | +13.96%Best |
| Volatility (annualized) | 8.0%Best | 16.8% |
| Max Drawdown | -22.8%Best | -34.3% |
| $10,000 over 5 years | $14,940 | $19,220Best |
| Fund Family | Franklin Templeton Investments (US) | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Dec 18, 2019 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 23, 2019 to Oct 6, 2026 (6.8 years).
FLSP vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.8 years both funds cover.
FLSP vs VOO Performance
Franklin Systematic Style Premia ETF (FLSP) is an ETF from Franklin Templeton Investments (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year FLSP returned +11.86% while VOO returned +17.34%. Year to date, FLSP is up 6.11% versus a gain of 14.98% for VOO.
Over three years, FLSP compounded at +10.14% per year against +23.33% for VOO; over five years the annualized figures are +8.36% and +13.96% respectively. Across the full 7-year window we track, VOO has the edge at +15.31% annualized vs +4.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 8.0% for FLSP. 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 -22.8% for FLSP and -34.3% 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 0.09. They move largely independently of each other.
Fees and Cost Over Time
FLSP charges 0.65% per year while VOO charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, FLSP currently yields 2.54% against 1.04% for VOO.
Holdings Overlap
At least 51.2% of VOO's money is in holdings FLSP also owns.
Stated as a floor: for FLSP, our book for it covers 87.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 46 days apart, FLSP as of Sep 15, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
247 positions in common, counted across the 511 positions we hold weights for in FLSP and 494 in VOO, against full books of 1,124 and 506.
Top Shared Holdings
| Stock | Weight in FLSP | Weight in VOO | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 1.61% | 5.36% | 3.75% |
| AAPLApple, Inc | -0.62% | 7.05% | 7.67% |
| GOOGAlphabet Inc. C | 1.52% | 2.62% | 1.10% |
| MUMicron Technology, Inc. | 1.39% | 1.44% | 0.05% |
| AVGOBroadcom Inc | -0.55% | 2.86% | 3.41% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.24% | 0.71% | 0.53% |
| LRCXLam Research Corp | 1.12% | 0.57% | 0.55% |
| GEGeneral Electric Co. | 1.00% | 0.58% | 0.42% |
| MSMorgan Stanley | 1.10% | 0.39% | 0.71% |
| ANETArista Networks Inc Common Stock | 1.12% | 0.29% | 0.83% |
51.2% of VOO is already inside FLSP.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, FLSP or VOO?
FLSP has an expense ratio of 0.65% while VOO charges 0.03%. VOO is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, FLSP or VOO?
Over the past year FLSP returned +11.86% vs +17.34% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (7 years), FLSP annualized +4.54% vs +15.31% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLSP or VOO?
VOO has been the more volatile fund at 16.8% annualized versus 8.0% for FLSP. Worst drawdown: FLSP -22.8% vs VOO -34.3%.
Should I hold both FLSP and VOO?
FLSP and VOO have a monthly-return correlation of 0.09, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FLSP and VOO?
At least 51.2% of VOO's money is in holdings FLSP also owns. Our book for FLSP is partial, so the real figure is this or higher. They hold 247 positions in common, counted across the 511 positions we hold weights for in FLSP and 494 in VOO.
Which pays a higher dividend, FLSP or VOO?
FLSP yields 2.54% while VOO yields 1.04%, so FLSP currently pays the higher dividend yield.
Is VOO better than FLSP?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.