IVOO vs. IVOG
IVOO (Vanguard S&P Mid-Cap 400 ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both exchange-traded funds - IVOO is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while IVOG is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, IVOO returned 11.59%/yr vs 11.91%/yr for IVOG. With a 0.95 correlation, they move nearly in lockstep. IVOO charges 0.07%/yr vs 0.15%/yr for IVOG.
Performance
IVOO vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, IVOO achieves a 14.65% return, which is significantly lower than IVOG's 18.76% return. Both investments have delivered pretty close results over the past 10 years, with IVOO having a 11.59% annualized return and IVOG not far ahead at 11.91%.
IVOO
- 1D
- -1.01%
- 1M
- 2.69%
- YTD
- 14.65%
- 6M
- 12.56%
- 1Y
- 25.18%
- 3Y*
- 16.08%
- 5Y*
- 8.44%
- 10Y*
- 11.59%
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%
IVOO vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOO Vanguard S&P Mid-Cap 400 ETF | 14.65% | 7.47% | 13.77% | 16.45% | -13.17% | 24.61% | 13.61% | 26.18% | -11.33% | 16.38% |
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% |
Correlation
The correlation between IVOO and IVOG is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.95 |
The correlation between IVOO and IVOG has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
IVOO vs. IVOG — Risk / Return Rank
IVOO
IVOG
IVOO vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 ETF (IVOO) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.
| IVOO | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.30 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 3.09 | -0.22 |
| Martin ratioReturn relative to average drawdown | 10.47 | 12.01 | -1.55 |
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Drawdowns
IVOO vs. IVOG - Drawdown Comparison
The maximum IVOO drawdown since its inception was -42.33%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for IVOO and IVOG.
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Drawdown Indicators
| IVOO | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.33% | -39.32% | -3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -9.69% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -24.22% | -25.61% | +1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -24.22% | -29.31% | +5.09% |
Max Drawdown (10Y)Largest decline over 10 years | -42.33% | -39.32% | -3.01% |
Current DrawdownCurrent decline from peak | -1.12% | -1.58% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -5.86% | +0.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.48% | -0.07% |
Volatility
IVOO vs. IVOG - Volatility Comparison
The current volatility for Vanguard S&P Mid-Cap 400 ETF (IVOO) is 4.73%, while Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a volatility of 5.83%. This indicates that IVOO experiences smaller price fluctuations and is considered to be less risky than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOO | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.73% | 5.83% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 13.89% | -2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 17.69% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.74% | 20.70% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 20.61% | +0.58% |
IVOO vs. IVOG - Expense Ratio Comparison
IVOO has a 0.07% expense ratio, which is lower than IVOG's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IVOO vs. IVOG - Dividend Comparison
IVOO's dividend yield for the trailing twelve months is around 1.19%, more than IVOG's 0.54% 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% |
IVOO Vanguard S&P Mid-Cap 400 ETF | 1.19% | 1.35% | 1.30% | 1.25% | 1.58% | 1.14% | 1.23% | 1.49% | 1.56% | 1.22% | 1.37% | 1.45% |
Frequently Asked Questions
With a correlation of 0.96, IVOO and IVOG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IVOG has higher volatility (5.83%) compared to IVOO (4.73%). In terms of maximum drawdown, IVOO dropped -42.33% vs IVOG's -39.32%.
On 10-year performance, IVOG leads with 11.91% vs 11.59% for IVOO. On fees, IVOO is cheaper at 0.07% per year. On volatility, IVOO has been the lower-risk option at 4.73%. 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 11.91% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOO is cheaper with a 0.07% expense ratio, compared with 0.15% for IVOG.
IVOO has the higher dividend yield at 1.19%, compared with 0.54% for IVOG.
IVOO is categorized as Mid Cap Blend Equities, while IVOG is Small Cap Growth Equities. IVOO tracks S&P MidCap 400 Index, while IVOG tracks S&P MidCap 400 Growth Index. Their fees differ too: 0.07% for IVOO and 0.15% for IVOG.
IVOG currently has the higher Sharpe Ratio (1.69 vs 1.59), 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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