IVOG vs. VTWG
IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and VTWG (Vanguard Russell 2000 Growth ETF) are both Small Cap Growth Equities funds from Vanguard - IVOG tracks the S&P MidCap 400 Growth Index while VTWG tracks the Russell 2000 Growth Index. Both are passively managed. Over the past 10 years, IVOG returned 11.91%/yr vs 12.12%/yr for VTWG. Their correlation of 0.91 suggests significant overlap in exposure. IVOG charges 0.15%/yr vs 0.06%/yr for VTWG.
Performance
IVOG vs. VTWG - Performance Comparison
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Returns By Period
In the year-to-date period, IVOG achieves a 18.76% return, which is significantly lower than VTWG's 20.43% return. Both investments have delivered pretty close results over the past 10 years, with IVOG having a 11.91% annualized return and VTWG not far ahead at 12.12%.
IVOG
- 1D
- -1.58%
- 1M
- 2.55%
- YTD
- 18.76%
- 6M
- 16.00%
- 1Y
- 29.76%
- 3Y*
- 17.78%
- 5Y*
- 8.30%
- 10Y*
- 11.91%
VTWG
- 1D
- -1.45%
- 1M
- 4.36%
- YTD
- 20.43%
- 6M
- 16.97%
- 1Y
- 40.10%
- 3Y*
- 19.34%
- 5Y*
- 5.29%
- 10Y*
- 12.12%
IVOG vs. VTWG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 18.76% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
VTWG Vanguard Russell 2000 Growth ETF | 20.43% | 13.07% | 15.15% | 18.90% | -26.49% | 2.84% | 34.72% | 28.75% | -9.45% | 22.27% |
Correlation
The correlation between IVOG and VTWG is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.91 |
The correlation between IVOG and VTWG has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
IVOG vs. VTWG — Risk / Return Rank
IVOG
VTWG
IVOG vs. VTWG - 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 Russell 2000 Growth ETF (VTWG). 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 | VTWG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.71 | +0.38 |
| Martin ratioReturn relative to average drawdown | 12.01 | 9.72 | +2.29 |
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Drawdowns
IVOG vs. VTWG - Drawdown Comparison
The maximum IVOG drawdown since its inception was -39.32%, smaller than the maximum VTWG drawdown of -42.07%. Use the drawdown chart below to compare losses from any high point for IVOG and VTWG.
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Drawdown Indicators
| IVOG | VTWG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.32% | -42.07% | +2.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.69% | -14.88% | +5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -25.61% | -28.58% | +2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -40.49% | +11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -39.32% | -42.07% | +2.75% |
Current DrawdownCurrent decline from peak | -1.58% | -1.45% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -10.50% | +4.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 4.14% | -1.66% |
Volatility
IVOG vs. VTWG - Volatility Comparison
The current volatility for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) is 5.83%, while Vanguard Russell 2000 Growth ETF (VTWG) has a volatility of 7.82%. This indicates that IVOG experiences smaller price fluctuations and is considered to be less risky than VTWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOG | VTWG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 7.82% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 16.92% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.69% | 22.34% | -4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.70% | 24.67% | -3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.61% | 24.27% | -3.66% |
IVOG vs. VTWG - Expense Ratio Comparison
IVOG has a 0.15% expense ratio, which is higher than VTWG's 0.06% 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
IVOG vs. VTWG - Dividend Comparison
IVOG's dividend yield for the trailing twelve months is around 0.54%, less than VTWG's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.54% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
VTWG Vanguard Russell 2000 Growth ETF | 0.59% | 0.64% | 0.55% | 0.79% | 0.71% | 0.54% | 0.48% | 0.72% | 0.72% | 0.64% | 0.96% | 0.72% |
Frequently Asked Questions
IVOG and VTWG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTWG has higher volatility (7.82%) compared to IVOG (5.83%). In terms of maximum drawdown, IVOG dropped -39.32% vs VTWG's -42.07%.
On 10-year performance, VTWG leads with 12.12% vs 11.91% for IVOG. On fees, VTWG is cheaper at 0.06% per year. On volatility, IVOG has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTWG has performed better with a 12.12% return vs 11.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTWG is cheaper with a 0.06% expense ratio, compared with 0.15% for IVOG.
VTWG has the higher dividend yield at 0.59%, compared with 0.54% for IVOG.
IVOG tracks S&P MidCap 400 Growth Index, while VTWG tracks Russell 2000 Growth Index. Their fees differ too: 0.15% for IVOG and 0.06% for VTWG.
VTWG currently has the higher Sharpe Ratio (1.80 vs 1.69), 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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