IVOV vs. IVOG
IVOV (Vanguard S&P Mid-Cap 400 Value ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both exchange-traded funds - IVOV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value 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, IVOV returned 10.90%/yr vs 12.09%/yr for IVOG. Their correlation of 0.86 suggests significant overlap in exposure. IVOV charges 0.10%/yr vs 0.15%/yr for IVOG.
Performance
IVOV vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, IVOV achieves a 11.06% return, which is significantly lower than IVOG's 20.66% return. Over the past 10 years, IVOV has underperformed IVOG with an annualized return of 10.90%, while IVOG has yielded a comparatively higher 12.09% annualized return.
IVOV
- 1D
- 0.18%
- 1M
- 3.35%
- YTD
- 11.06%
- 6M
- 9.05%
- 1Y
- 22.35%
- 3Y*
- 14.47%
- 5Y*
- 8.72%
- 10Y*
- 10.90%
IVOG
- 1D
- 0.63%
- 1M
- 4.20%
- YTD
- 20.66%
- 6M
- 17.87%
- 1Y
- 32.69%
- 3Y*
- 18.41%
- 5Y*
- 8.84%
- 10Y*
- 12.09%
IVOV vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 11.06% | 7.61% | 11.53% | 15.38% | -7.20% | 30.50% | 3.70% | 25.91% | -12.13% | 12.22% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 20.66% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between IVOV and IVOG is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
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 IVOV and IVOG has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
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Return for Risk
IVOV vs. IVOG — Risk / Return Rank
IVOV
IVOG
IVOV vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value ETF (IVOV) 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.
| IVOV | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.39 | -1.27 |
| Martin ratioReturn relative to average drawdown | 7.31 | 13.20 | -5.89 |
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Drawdowns
IVOV vs. IVOG - Drawdown Comparison
The maximum IVOV drawdown since its inception was -45.99%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for IVOV and IVOG.
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Drawdown Indicators
| IVOV | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.99% | -39.32% | -6.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -9.69% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -22.61% | -25.61% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.61% | -29.31% | +6.70% |
Max Drawdown (10Y)Largest decline over 10 years | -45.99% | -39.32% | -6.67% |
Current DrawdownCurrent decline from peak | -0.81% | 0.00% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -5.87% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 2.48% | +0.58% |
Volatility
IVOV vs. IVOG - Volatility Comparison
The current volatility for Vanguard S&P Mid-Cap 400 Value ETF (IVOV) is 3.71%, while Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a volatility of 5.53%. This indicates that IVOV 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
| IVOV | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 5.53% | -1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 13.79% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.35% | 17.64% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 20.69% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.74% | 20.64% | +1.10% |
IVOV vs. IVOG - Expense Ratio Comparison
IVOV has a 0.10% 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
IVOV vs. IVOG - Dividend Comparison
IVOV's dividend yield for the trailing twelve months is around 1.64%, more than IVOG's 0.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.53% | 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 | 1.64% | 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
IVOV and IVOG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOG has higher volatility (5.53%) compared to IVOV (3.71%). In terms of maximum drawdown, IVOV dropped -45.99% vs IVOG's -39.32%.
On 10-year performance, IVOG leads with 12.09% vs 10.90% for IVOV. On fees, IVOV is cheaper at 0.10% per year. On volatility, IVOV has been the lower-risk option at 3.71%. 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 12.09% return vs 10.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOV is cheaper with a 0.10% expense ratio, compared with 0.15% for IVOG.
IVOV has the higher dividend yield at 1.64%, compared with 0.53% for IVOG.
IVOV is categorized as Mid Cap Value Equities, while IVOG is Small Cap Growth Equities. IVOV tracks S&P MidCap 400 Value Index, while IVOG tracks S&P MidCap 400 Growth Index. Their fees differ too: 0.10% for IVOV and 0.15% for IVOG.
IVOG currently has the higher Sharpe Ratio (1.86 vs 1.47), 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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