MGV vs. VONE

Last updated Jun 23, 2026

MGV (Vanguard Mega Cap Value ETF) and VONE (Vanguard Russell 1000 ETF) are both exchange-traded funds - MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index, while VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Both are passively managed. Over the past 10 years, MGV returned 13.43%/yr vs 15.46%/yr for VONE. Their correlation of 0.87 suggests significant overlap in exposure. MGV charges 0.05%/yr vs 0.08%/yr for VONE.

Performance

MGV vs. VONE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap Value ETF (MGV) and Vanguard Russell 1000 ETF (VONE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGV achieves a 16.85% return, which is significantly higher than VONE's 9.48% return. Over the past 10 years, MGV has underperformed VONE with an annualized return of 13.43%, while VONE has yielded a comparatively higher 15.46% annualized return.

MGV

• 1D: 1.09%
• 1M: 4.51%
• YTD: 16.85%
• 6M: 16.55%
• 1Y: 30.47%
• 3Y*: 19.86%
• 5Y*: 13.34%
• 10Y*: 13.43%

VONE

• 1D: -0.27%
• 1M: 0.31%
• YTD: 9.48%
• 6M: 9.01%
• 1Y: 25.90%
• 3Y*: 21.09%
• 5Y*: 12.72%
• 10Y*: 15.46%

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

MGV vs. VONE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGV Vanguard Mega Cap Value ETF	16.85%	15.45%	16.94%	9.16%	-1.22%	25.93%	2.50%	25.54%	-4.13%	16.85%
VONE Vanguard Russell 1000 ETF	9.48%	17.21%	24.51%	26.41%	-19.14%	26.49%	20.95%	31.12%	-4.84%	21.55%

Correlation

The correlation between MGV and VONE is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.87

The correlation between MGV and VONE shifts across timeframes, from 0.67 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

MGV vs. VONE - Sectors Allocation Comparison

Sectors	MGV	VONE
Financial Services	22.8%	11.9%
Technology	18.5%	33.9%
Healthcare	16.0%	8.7%
Industrials	13.2%	9.2%
Consumer Defensive	11.0%	4.8%
Energy	6.0%	3.7%
Consumer Cyclical	3.4%	10.3%
Communication Services	3.2%	10.9%
Basic Materials	2.3%	2.0%
Utilities	2.3%	2.3%
Real Estate	1.2%	2.2%

Return for Risk

MGV vs. VONE — Risk / Return Rank

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

MGV

MGV Risk / Return Rank: 90
MGV Sharpe Ratio Rank: 92
MGV Sortino Ratio Rank: 92
MGV Omega Ratio Rank: 89
MGV Calmar Ratio Rank: 87
MGV Martin Ratio Rank: 88

VONE

VONE Risk / Return Rank: 65
VONE Sharpe Ratio Rank: 66
VONE Sortino Ratio Rank: 64
VONE Omega Ratio Rank: 65
VONE Calmar Ratio Rank: 61
VONE Martin Ratio Rank: 72

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.

MGV vs. VONE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value ETF (MGV) and Vanguard Russell 1000 ETF (VONE). 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.

	MGV	VONE	Difference
Sharpe ratio: Return per unit of total volatility	3.02	2.08	+0.94
Sortino ratio: Return per unit of downside risk	4.27	2.84	+1.43
Omega ratio: Gain probability vs. loss probability	1.54	1.37	+0.17
Calmar ratio: Return relative to maximum drawdown	4.77	2.94	+1.83
Martin ratio: Return relative to average drawdown	18.12	13.14	+4.97

MGV vs. VONE - Sharpe Ratio Comparison

The current MGV Sharpe Ratio is 3.02, which is higher than the VONE Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of MGV and VONE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MGV vs. VONE - Drawdown Comparison

The maximum MGV drawdown since its inception was -56.07%, which is greater than VONE's maximum drawdown of -34.66%. Use the drawdown chart below to compare losses from any high point for MGV and VONE.

Drawdown Indicators

	MGV	VONE	Difference
Max Drawdown Largest peak-to-trough decline	-56.07%	-34.66%	-21.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.42%	-8.85%	+2.43%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-19.06%	+5.88%
Max Drawdown (5Y) Largest decline over 5 years	-16.54%	-25.12%	+8.58%
Max Drawdown (10Y) Largest decline over 10 years	-35.41%	-34.66%	-0.75%
Current Drawdown Current decline from peak	0.00%	-1.67%	+1.67%
Average Drawdown Average peak-to-trough decline	-7.78%	-3.90%	-3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.98%	-0.29%

Volatility

MGV vs. VONE - Volatility Comparison

The current volatility for Vanguard Mega Cap Value ETF (MGV) is 3.32%, while Vanguard Russell 1000 ETF (VONE) has a volatility of 4.51%. This indicates that MGV experiences smaller price fluctuations and is considered to be less risky than VONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGV	VONE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	4.51%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	7.77%	9.76%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	10.15%	12.52%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.57%	17.16%	-3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	18.29%	-1.93%

MGV vs. VONE - Expense Ratio Comparison

MGV has a 0.05% expense ratio, which is lower than VONE's 0.08% 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

MGV vs. VONE - Dividend Comparison

MGV's dividend yield for the trailing twelve months is around 1.82%, more than VONE's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGV Vanguard Mega Cap Value ETF	1.82%	2.04%	2.31%	2.48%	2.45%	2.17%	2.47%	2.69%	2.65%	2.34%	2.53%	2.59%
VONE Vanguard Russell 1000 ETF	1.03%	1.07%	1.20%	1.40%	1.59%	1.16%	1.45%	1.65%	1.96%	1.69%	1.89%	1.89%

Frequently Asked Questions

Can I hold both MGV and VONE in my portfolio?

MGV and VONE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGV or VONE?

VONE has higher volatility (4.51%) compared to MGV (3.32%). In terms of maximum drawdown, MGV dropped -56.07% vs VONE's -34.66%.

Which ETF is better, MGV or VONE?

On 10-year performance, VONE leads with 15.46% vs 13.43% for MGV. On fees, MGV is cheaper at 0.05% per year. On volatility, MGV has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGV or VONE?

Over the 10-year period, VONE has performed better with a 15.46% return vs 13.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGV or VONE?

MGV is cheaper with a 0.05% expense ratio, compared with 0.08% for VONE.

Which ETF pays a higher dividend yield, MGV or VONE?

MGV has the higher dividend yield at 1.82%, compared with 1.03% for VONE.

What is the main difference between MGV and VONE?

MGV is categorized as Large Cap Value Equities, while VONE is Large Cap Blend Equities. MGV tracks CRSP US Mega Cap Value Index, while VONE tracks Russell 1000 Index. Their fees differ too: 0.05% for MGV and 0.08% for VONE.

Which has better risk-adjusted returns?

MGV currently has the higher Sharpe Ratio (3.02 vs 2.08), 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.