FOVL vs. VBR

Last updated Jun 4, 2026

FOVL (iShares Focused Value Factor ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. FOVL charges 0.25%/yr vs 0.05%/yr for VBR.

Performance

FOVL vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FOVL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VBR

• 1D: -0.39%
• 1M: 2.39%
• YTD: 11.67%
• 6M: 11.95%
• 1Y: 25.78%
• 3Y*: 16.44%
• 5Y*: 7.95%
• 10Y*: 10.53%

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

FOVL vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	22.87%	17.72%	-9.39%	40.14%	-13.20%	6.22%
VBR Vanguard Small-Cap Value ETF	11.67%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	7.58%

Correlation

The correlation between FOVL and VBR is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019	0.88

Over the past year, the correlation between FOVL and VBR has dropped to 0.34 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

FOVL vs. VBR - Sectors Allocation Comparison

Sectors	FOVL	VBR
Financial Services	44.6%	17.6%
Industrials	12.8%	18.1%
Energy	7.7%	5.2%
Utilities	7.5%	4.8%
Consumer Cyclical	5.2%	12.4%
Consumer Defensive	5.0%	4.0%
Technology	5.0%	10.6%
Healthcare	4.9%	7.9%
Communication Services	4.7%	2.5%
Real Estate	2.6%	10.1%
Basic Materials	-	6.3%

Return for Risk

FOVL vs. VBR — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 52
VBR Sharpe Ratio Rank: 49
VBR Sortino Ratio Rank: 50
VBR Omega Ratio Rank: 46
VBR Calmar Ratio Rank: 58
VBR Martin Ratio Rank: 58

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.

FOVL vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) and Vanguard Small-Cap Value ETF (VBR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FOVL	VBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.40	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.42	—

Drawdowns

Drawdown Indicators

	FOVL	VBR	Difference
Max Drawdown Largest peak-to-trough decline	—	-61.98%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.28%	—
Current Drawdown Current decline from peak	—	-0.39%	—
Average Drawdown Average peak-to-trough decline	—	-8.27%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.50%	—

Volatility

Volatility by Period

	FOVL	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.17%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.77%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.73%	—

FOVL vs. VBR - Expense Ratio Comparison

FOVL has a 0.25% expense ratio, which is higher than VBR's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FOVL vs. VBR - Dividend Comparison

FOVL's dividend yield for the trailing twelve months is around 0.55%, less than VBR's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOVL iShares Focused Value Factor ETF	0.55%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%	0.00%	0.00%	0.00%	0.00%
VBR Vanguard Small-Cap Value ETF	1.76%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both FOVL and VBR in my portfolio?

FOVL and VBR have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FOVL or VBR?

On fees, VBR is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FOVL or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 0.25% for FOVL.

Which ETF pays a higher dividend yield, FOVL or VBR?

VBR has the higher dividend yield at 1.76%, compared with 0.55% for FOVL.

What is the main difference between FOVL and VBR?

FOVL is categorized as Mid Cap Value Equities, while VBR is Small Cap Value Equities. FOVL tracks MSCI USA IMI Focused Value Factor Index, while VBR tracks CRSP US Small Cap Value Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for FOVL and 0.05% for VBR.