BBVSX vs. VO

Last updated Jun 26, 2026

BBVSX (Bridge Builder Small/Mid Cap Value Fund) and VO (Vanguard Mid-Cap ETF) are both funds - BBVSX is a Mid Cap Value Equities fund managed by Bridge Builder, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Over the past 10 years, BBVSX returned 9.75%/yr vs 12.36%/yr for VO. Their correlation of 0.91 suggests significant overlap in exposure. BBVSX charges 0.41%/yr vs 0.03%/yr for VO.

Performance

BBVSX vs. VO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bridge Builder Small/Mid Cap Value Fund (BBVSX) and Vanguard Mid-Cap ETF (VO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBVSX achieves a 15.13% return, which is significantly higher than VO's 11.52% return. Over the past 10 years, BBVSX has underperformed VO with an annualized return of 9.75%, while VO has yielded a comparatively higher 12.36% annualized return.

BBVSX

• 1D: 0.76%
• 1M: 2.83%
• YTD: 15.13%
• 6M: 11.59%
• 1Y: 13.01%
• 3Y*: 12.24%
• 5Y*: 6.14%
• 10Y*: 9.75%

VO

• 1D: 0.61%
• 1M: 2.61%
• YTD: 11.52%
• 6M: 9.97%
• 1Y: 18.69%
• 3Y*: 16.43%
• 5Y*: 7.81%
• 10Y*: 12.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBVSX vs. VO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBVSX Bridge Builder Small/Mid Cap Value Fund	15.13%	-2.25%	10.61%	15.05%	-9.75%	28.14%	6.07%	28.04%	-14.47%	12.65%
VO Vanguard Mid-Cap ETF	11.52%	11.62%	15.31%	16.03%	-18.73%	24.70%	18.10%	30.98%	-9.24%	19.28%

Correlation

The correlation between BBVSX and VO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 29, 2015	0.91

The correlation between BBVSX and VO has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

BBVSX vs. VO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBVSX

BBVSX Risk / Return Rank: 12
BBVSX Sharpe Ratio Rank: 11
BBVSX Sortino Ratio Rank: 11
BBVSX Omega Ratio Rank: 12
BBVSX Calmar Ratio Rank: 13
BBVSX Martin Ratio Rank: 11

VO

VO Risk / Return Rank: 51
VO Sharpe Ratio Rank: 49
VO Sortino Ratio Rank: 48
VO Omega Ratio Rank: 45
VO Calmar Ratio Rank: 54
VO Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBVSX vs. VO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bridge Builder Small/Mid Cap Value Fund (BBVSX) and Vanguard Mid-Cap ETF (VO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BBVSX	VO	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.47	-0.77
Sortino ratio: Return per unit of downside risk	1.03	2.10	-1.08
Omega ratio: Gain probability vs. loss probability	1.14	1.26	-0.11
Calmar ratio: Return relative to maximum drawdown	0.96	2.30	-1.34
Martin ratio: Return relative to average drawdown	2.36	8.66	-6.30

BBVSX vs. VO - Sharpe Ratio Comparison

The current BBVSX Sharpe Ratio is 0.71, which is lower than the VO Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of BBVSX and VO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBVSX vs. VO - Drawdown Comparison

The maximum BBVSX drawdown since its inception was -43.42%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for BBVSX and VO.

Drawdown Indicators

	BBVSX	VO	Difference
Max Drawdown Largest peak-to-trough decline	-43.42%	-58.87%	+15.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.05%	-8.17%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-23.25%	-19.02%	-4.23%
Max Drawdown (5Y) Largest decline over 5 years	-23.25%	-27.57%	+4.32%
Max Drawdown (10Y) Largest decline over 10 years	-43.42%	-39.37%	-4.05%
Current Drawdown Current decline from peak	-0.06%	-0.25%	+0.19%
Average Drawdown Average peak-to-trough decline	-6.15%	-7.84%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.20%	2.16%	+3.04%

Volatility

BBVSX vs. VO - Volatility Comparison

Bridge Builder Small/Mid Cap Value Fund (BBVSX) and Vanguard Mid-Cap ETF (VO) have volatilities of 4.22% and 4.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBVSX	VO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	4.41%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	14.13%	9.83%	+4.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.63%	12.76%	+4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.32%	17.66%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	18.92%	+2.06%

BBVSX vs. VO - Expense Ratio Comparison

BBVSX has a 0.41% expense ratio, which is higher than VO's 0.03% expense ratio.

Dividends

BBVSX vs. VO - Dividend Comparison

BBVSX has not paid dividends to shareholders, while VO's dividend yield for the trailing twelve months is around 1.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBVSX Bridge Builder Small/Mid Cap Value Fund	0.00%	0.00%	6.75%	3.88%	7.57%	10.92%	2.38%	1.32%	5.03%	1.18%	0.82%	0.68%
VO Vanguard Mid-Cap ETF	1.34%	1.52%	1.49%	1.52%	1.60%	1.12%	1.45%	1.48%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both BBVSX and VO in my portfolio?

BBVSX and VO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBVSX or VO?

VO has higher volatility (4.41%) compared to BBVSX (4.22%). In terms of maximum drawdown, BBVSX dropped -43.42% vs VO's -58.87%.

Which has better risk-adjusted returns?

VO currently has the higher Sharpe Ratio (1.47 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.