VB vs. VOT

Last updated Jun 14, 2026

VB (Vanguard Small-Cap ETF) and VOT (Vanguard Mid-Cap Growth ETF) are both exchange-traded funds - VB is a Small Cap Blend Equities fund tracking the CRSP US Small Cap Index, while VOT is a Mid Cap Growth Equities fund tracking the CRSP US Mid Cap Growth Index. Both are passively managed. Over the past 10 years, VB returned 11.61%/yr vs 12.19%/yr for VOT. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.

Performance

VB vs. VOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap ETF (VB) and Vanguard Mid-Cap Growth ETF (VOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VB achieves a 15.33% return, which is significantly higher than VOT's 6.67% return. Both investments have delivered pretty close results over the past 10 years, with VB having a 11.61% annualized return and VOT not far ahead at 12.19%.

VB

• 1D: 0.70%
• 1M: 5.17%
• YTD: 15.33%
• 6M: 13.69%
• 1Y: 30.83%
• 3Y*: 16.14%
• 5Y*: 6.98%
• 10Y*: 11.61%

VOT

• 1D: 0.76%
• 1M: 4.08%
• YTD: 6.67%
• 6M: 5.40%
• 1Y: 10.69%
• 3Y*: 14.66%
• 5Y*: 6.13%
• 10Y*: 12.19%

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

VB vs. VOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VB Vanguard Small-Cap ETF	15.33%	8.87%	14.17%	18.22%	-17.51%	17.57%	19.19%	27.34%	-9.34%	16.26%
VOT Vanguard Mid-Cap Growth ETF	6.67%	10.72%	16.38%	23.10%	-28.87%	20.50%	34.50%	33.76%	-5.56%	21.80%

Correlation

The correlation between VB and VOT is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 25, 2006	0.91

The correlation between VB and VOT has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

VB vs. VOT - Sectors Allocation Comparison

Sectors	VB	VOT
Industrials	20.8%	23.7%
Technology	17.2%	28.9%
Financial Services	12.6%	6.8%
Consumer Cyclical	11.3%	13.9%
Healthcare	11.1%	9.3%
Real Estate	7.6%	4.8%
Basic Materials	4.8%	1.8%
Energy	4.7%	2.7%
Consumer Defensive	3.4%	0.8%
Utilities	3.3%	3.5%
Communication Services	3.1%	3.8%

Return for Risk

VB vs. VOT — Risk / Return Rank

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

VB

VB Risk / Return Rank: 64
VB Sharpe Ratio Rank: 59
VB Sortino Ratio Rank: 60
VB Omega Ratio Rank: 55
VB Calmar Ratio Rank: 73
VB Martin Ratio Rank: 73

VOT

VOT Risk / Return Rank: 19
VOT Sharpe Ratio Rank: 20
VOT Sortino Ratio Rank: 19
VOT Omega Ratio Rank: 18
VOT Calmar Ratio Rank: 18
VOT Martin Ratio Rank: 19

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.

VB vs. VOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) and Vanguard Mid-Cap Growth ETF (VOT). 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.

	VB	VOT	Difference
Sharpe ratio: Return per unit of total volatility	1.73	0.57	+1.16
Sortino ratio: Return per unit of downside risk	2.47	0.89	+1.58
Omega ratio: Gain probability vs. loss probability	1.30	1.11	+0.19
Calmar ratio: Return relative to maximum drawdown	3.21	0.59	+2.62
Martin ratio: Return relative to average drawdown	11.80	1.77	+10.03

VB vs. VOT - Sharpe Ratio Comparison

The current VB Sharpe Ratio is 1.73, which is higher than the VOT Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of VB and VOT, 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

VB vs. VOT - Drawdown Comparison

The maximum VB drawdown since its inception was -59.56%, roughly equal to the maximum VOT drawdown of -60.16%. Use the drawdown chart below to compare losses from any high point for VB and VOT.

Drawdown Indicators

	VB	VOT	Difference
Max Drawdown Largest peak-to-trough decline	-59.56%	-60.16%	+0.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-15.96%	+6.98%
Max Drawdown (3Y) Largest decline over 3 years	-25.36%	-21.77%	-3.59%
Max Drawdown (5Y) Largest decline over 5 years	-28.15%	-37.19%	+9.04%
Max Drawdown (10Y) Largest decline over 10 years	-42.05%	-37.19%	-4.86%
Current Drawdown Current decline from peak	0.00%	-2.41%	+2.41%
Average Drawdown Average peak-to-trough decline	-8.43%	-9.95%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	5.35%	-2.91%

Volatility

VB vs. VOT - Volatility Comparison

The current volatility for Vanguard Small-Cap ETF (VB) is 5.41%, while Vanguard Mid-Cap Growth ETF (VOT) has a volatility of 6.42%. This indicates that VB experiences smaller price fluctuations and is considered to be less risky than VOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VB	VOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	6.42%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	13.32%	-1.08%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	16.56%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.80%	21.46%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	21.03%	+0.41%

VB vs. VOT - Expense Ratio Comparison

Both VB and VOT have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VB vs. VOT - Dividend Comparison

VB's dividend yield for the trailing twelve months is around 1.18%, more than VOT's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VB Vanguard Small-Cap ETF	1.18%	1.33%	1.30%	1.55%	1.59%	1.24%	1.14%	1.39%	1.67%	1.35%	1.50%	1.48%
VOT Vanguard Mid-Cap Growth ETF	0.62%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.81%

Frequently Asked Questions

Can I hold both VB and VOT in my portfolio?

VB and VOT have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VB or VOT?

VOT has higher volatility (6.42%) compared to VB (5.41%). In terms of maximum drawdown, VB dropped -59.56% vs VOT's -60.16%.

Which ETF is better, VB or VOT?

On 10-year performance, VOT leads with 12.19% vs 11.61% for VB. Both ETFs have the same 0.05% expense ratio. On volatility, VB has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VB or VOT?

Over the 10-year period, VOT has performed better with a 12.19% return vs 11.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VB or VOT?

VB and VOT have the same expense ratio: 0.05% per year.

Which ETF pays a higher dividend yield, VB or VOT?

VB has the higher dividend yield at 1.18%, compared with 0.62% for VOT.

What is the main difference between VB and VOT?

VB is categorized as Small Cap Blend Equities, while VOT is Mid Cap Growth Equities. VB tracks CRSP US Small Cap Index, while VOT tracks CRSP US Mid Cap Growth Index.

Which has better risk-adjusted returns?

VB currently has the higher Sharpe Ratio (1.73 vs 0.57), 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.