VASVX vs. VBR

Last updated Aug 2, 2026

VASVX (Vanguard Selected Value Fund) and VBR (Vanguard Small-Cap Value ETF) are both funds - VASVX is a Mid-Cap Value fund managed by Vanguard, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Over the past 10 years, VASVX returned 11.39%/yr vs 10.75%/yr for VBR. Their correlation of 0.94 means they have usually moved in the same direction. VASVX charges 0.34%/yr vs 0.05%/yr for VBR.

Performance

VASVX vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Selected Value Fund (VASVX) and Vanguard Small-Cap Value ETF (VBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VASVX having a 16.78% return and VBR slightly lower at 16.70%. Over the past 10 years, VASVX has outperformed VBR with an annualized return of 11.39%, while VBR has yielded a comparatively lower 10.75% annualized return.

VASVX

• 1D: -0.74%
• 1M: 3.23%
• 6M: 12.37%
• YTD: 16.78%
• 1Y: 28.57%
• 3Y*: 14.24%
• 5Y*: 11.32%
• 10Y*: 11.39%
• ALL TIME*: 9.17%

VBR

• 1D: -0.20%
• 1M: 0.58%
• 6M: 10.78%
• YTD: 16.70%
• 1Y: 27.67%
• 3Y*: 14.39%
• 5Y*: 9.74%
• 10Y*: 10.75%
• ALL TIME*: 9.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VASVX Vanguard Selected Value Fund	$0.00	$0.00	$0.00
VBR Vanguard Small-Cap Value ETF	$56.96M	$55.85M	$67.93M

VASVX vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VASVX Vanguard Selected Value Fund	16.78%	10.99%	6.68%	25.45%	-7.55%	27.54%	5.79%	29.55%	-19.75%	18.01%
VBR Vanguard Small-Cap Value ETF	16.70%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%

Correlation

The correlation between VASVX and VBR is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.94

The correlation between VASVX and VBR has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

VASVX vs. VBR - Sectors Allocation Comparison

Sectors	VASVX	VBR
Financial Services	26.4%	17.5%
Industrials	17.7%	17.3%
Consumer Cyclical	13.2%	13.6%
Basic Materials	9.8%	5.3%
Healthcare	9.5%	8.4%
Technology	8.3%	10.9%
Real Estate	5.1%	11.1%
Consumer Defensive	4.5%	4.2%
Energy	3.7%	4.3%
Communication Services	1.8%	2.4%
Utilities	0.5%	4.9%

Return for Risk

VASVX vs. VBR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VASVX

VASVX Risk / Return Rank: 67
VASVX Sharpe Ratio Rank: 71
VASVX Sortino Ratio Rank: 74
VASVX Omega Ratio Rank: 67
VASVX Calmar Ratio Rank: 67
VASVX Martin Ratio Rank: 55

VBR

VBR Risk / Return Rank: 79
VBR Sharpe Ratio Rank: 77
VBR Sortino Ratio Rank: 80
VBR Omega Ratio Rank: 75
VBR Calmar Ratio Rank: 81
VBR Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VASVX vs. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Selected Value Fund (VASVX) and Vanguard Small-Cap Value ETF (VBR). 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.

	VASVX	VBR	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.75	-0.12
Sortino ratio: Return per unit of downside risk	2.47	2.58	-0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	2.14	2.93	-0.79
Martin ratio: Return relative to average drawdown	7.16	10.70	-3.55

VASVX vs. VBR - Sharpe Ratio Comparison

The current VASVX Sharpe Ratio is 1.63, which is comparable to the VBR Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of VASVX and VBR, 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

VASVX vs. VBR - Drawdown Comparison

The maximum VASVX drawdown since its inception was -55.70%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for VASVX and VBR.

Drawdown Indicators

	VASVX	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-55.70%	-61.98%	+6.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-8.85%	-2.89%
Max Drawdown (3Y) Largest decline over 3 years	-25.98%	-24.19%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-25.98%	-24.19%	-1.79%
Max Drawdown (10Y) Largest decline over 10 years	-48.19%	-45.28%	-2.91%
Current Drawdown Current decline from peak	-1.21%	-1.40%	+0.19%
Average Drawdown Average peak-to-trough decline	-9.49%	-8.21%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	2.42%	+1.09%

Volatility

VASVX vs. VBR - Volatility Comparison

Vanguard Selected Value Fund (VASVX) has a higher volatility of 4.23% compared to Vanguard Small-Cap Value ETF (VBR) at 3.36%. This indicates that VASVX's price experiences larger fluctuations and is considered to be riskier than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VASVX	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	3.36%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	11.26%	10.22%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	14.90%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.37%	19.56%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	21.66%	+0.71%

VASVX vs. VBR - Expense Ratio Comparison

VASVX has a 0.34% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

VASVX vs. VBR - Dividend Comparison

VASVX's dividend yield for the trailing twelve months is around 11.41%, more than VBR's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VASVX Vanguard Selected Value Fund	11.41%	13.32%	14.35%	8.29%	13.22%	7.77%	10.19%	7.44%	11.90%	8.59%	4.51%	5.68%
VBR Vanguard Small-Cap Value ETF	1.77%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both VASVX and VBR in my portfolio?

With a correlation of 0.94, VASVX and VBR 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.

Which is riskier, VASVX or VBR?

VASVX has higher volatility (4.23%) compared to VBR (3.36%). In terms of maximum drawdown, VASVX dropped -55.70% vs VBR's -61.98%.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.75 vs 1.63), 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.