IVOG vs. IVOV
IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and IVOV (Vanguard S&P Mid-Cap 400 Value ETF) are both exchange-traded funds - IVOG is a Mid Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while IVOV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value Index. Both are passively managed. Over the past 10 years, IVOG returned 11.06%/yr vs 10.38%/yr for IVOV. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.
Performance
IVOG vs. IVOV - Performance Comparison
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Returns By Period
In the year-to-date period, IVOG achieves a 16.96% return, which is significantly higher than IVOV's 12.05% return. Over the past 10 years, IVOG has outperformed IVOV with an annualized return of 11.06%, while IVOV has yielded a comparatively lower 10.38% annualized return.
IVOG
- 1D
- -1.05%
- 1M
- -1.65%
- 6M
- 11.10%
- YTD
- 16.96%
- 1Y
- 23.29%
- 3Y*
- 14.86%
- 5Y*
- 8.21%
- 10Y*
- 11.06%
IVOV
- 1D
- 0.01%
- 1M
- 0.08%
- 6M
- 7.21%
- YTD
- 12.05%
- 1Y
- 16.94%
- 3Y*
- 12.31%
- 5Y*
- 9.17%
- 10Y*
- 10.38%
IVOG vs. IVOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 16.96% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 12.05% | 7.61% | 11.53% | 15.38% | -7.20% | 30.50% | 3.70% | 25.91% | -12.13% | 12.22% |
Correlation
The correlation between IVOG and IVOV is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.86 |
The correlation between IVOG and IVOV has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
IVOG vs. IVOV — Risk / Return Rank
IVOG
IVOV
IVOG vs. IVOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). 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.
| IVOG | IVOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.61 | +0.81 |
| Martin ratioReturn relative to average drawdown | 9.23 | 5.54 | +3.69 |
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Drawdowns
IVOG vs. IVOV - Drawdown Comparison
The maximum IVOG drawdown since its inception was -39.32%, smaller than the maximum IVOV drawdown of -45.99%. Use the drawdown chart below to compare losses from any high point for IVOG and IVOV.
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Drawdown Indicators
| IVOG | IVOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.32% | -45.99% | +6.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -10.58% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.61% | -22.61% | -3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -22.61% | -6.70% |
Max Drawdown (10Y)Largest decline over 10 years | -39.32% | -45.99% | +6.67% |
Current DrawdownCurrent decline from peak | -3.90% | -0.78% | -3.12% |
Average DrawdownAverage peak-to-trough decline | -5.85% | -5.40% | -0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 3.06% | -0.53% |
Volatility
IVOG vs. IVOV - Volatility Comparison
Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a higher volatility of 5.56% compared to Vanguard S&P Mid-Cap 400 Value ETF (IVOV) at 3.59%. This indicates that IVOG's price experiences larger fluctuations and is considered to be riskier than IVOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOG | IVOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 3.59% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 10.49% | +3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.90% | 15.16% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 19.35% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 21.65% | -1.06% |
IVOG vs. IVOV - Expense Ratio Comparison
Both IVOG and IVOV have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IVOG vs. IVOV - Dividend Comparison
IVOG's dividend yield for the trailing twelve months is around 0.55%, less than IVOV's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 1.63% | 1.82% | 1.74% | 1.52% | 1.97% | 1.78% | 2.42% | 1.75% | 1.87% | 1.55% | 1.51% | 1.66% |
Frequently Asked Questions
IVOG and IVOV have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOG has higher volatility (5.56%) compared to IVOV (3.59%). In terms of maximum drawdown, IVOG dropped -39.32% vs IVOV's -45.99%.
On 10-year performance, IVOG leads with 11.06% vs 10.38% for IVOV. Both ETFs have the same 0.10% expense ratio. On volatility, IVOV has been the lower-risk option at 3.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IVOG has performed better with a 11.06% return vs 10.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG and IVOV have the same expense ratio: 0.10% per year.
IVOV has the higher dividend yield at 1.63%, compared with 0.55% for IVOG.
IVOG is categorized as Mid Cap Growth Equities, while IVOV is Mid Cap Value Equities. IVOG tracks S&P MidCap 400 Growth Index, while IVOV tracks S&P MidCap 400 Value Index.
IVOG currently has the higher Sharpe Ratio (1.31 vs 1.12), 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.
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