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VBK vs. VBR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBK vs. VBR

Last updated Aug 2, 2026
Documentation

VBK (Vanguard Small-Cap Growth ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, VBK returned 10.90%/yr vs 10.75%/yr for VBR. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.05% expense ratio.

Performance

VBK vs. VBR - Performance Comparison

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

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Returns By Period

In the year-to-date period, VBK achieves a 12.94% return, which is significantly lower than VBR's 16.70% return. Both investments have delivered pretty close results over the past 10 years, with VBK having a 10.90% annualized return and VBR not far behind at 10.75%.

VBK

1D
-0.27%
1M
-4.86%
6M
9.06%
YTD
12.94%
1Y
23.19%
3Y*
13.33%
5Y*
4.14%
10Y*
10.90%
ALL TIME*
9.75%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VBK

Vanguard Small-Cap Growth ETF
$67.40M$71.27M$83.02M

VBR

Vanguard Small-Cap Value ETF
$56.96M$55.85M$67.93M

VBK vs. VBR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBK
Vanguard Small-Cap Growth ETF		12.94%8.50%16.50%21.45%-28.44%5.66%35.44%32.75%-5.70%21.87%
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 VBK and VBR is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.76

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

Correlation (10Y)
Provides a long-term view across more market conditions.

0.84

Correlation (All Time)
Calculated using the full available price history since Jan 30, 2004

0.89

The correlation between VBK and VBR shifts across timeframes, from 0.76 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

VBK vs. VBR - Sectors Allocation Comparison

Sectors
VBK
VBR

Technology

27.1%
10.9%

Industrials

23.4%
17.3%

Healthcare

17.9%
8.4%

Consumer Cyclical

8.9%
13.6%

Financial Services

5.7%
17.5%

Real Estate

3.7%
11.1%

Communication Services

3.6%
2.4%

Energy

3.4%
4.3%

Basic Materials

3.1%
5.3%

Consumer Defensive

2.0%
4.2%

Utilities

1.1%
4.9%

Technology

VBK
27.1%
VBR
10.9%

Industrials

VBK
23.4%
VBR
17.3%

Healthcare

VBK
17.9%
VBR
8.4%

Consumer Cyclical

VBK
8.9%
VBR
13.6%

Financial Services

VBK
5.7%
VBR
17.5%

Real Estate

VBK
3.7%
VBR
11.1%

Communication Services

VBK
3.6%
VBR
2.4%

Energy

VBK
3.4%
VBR
4.3%

Basic Materials

VBK
3.1%
VBR
5.3%

Consumer Defensive

VBK
2.0%
VBR
4.2%

Utilities

VBK
1.1%
VBR
4.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Small-Cap Growth ETF

Vanguard Small-Cap Value ETF

Often compared with VBK:
VBK vs. VBVBK vs. AVUVVBK vs. VOOVBK vs. IJRVBK vs. SCHAVBK vs. VIOGVBK vs. VTWG
Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VOOVBR vs. VTIVBR vs. VIOVVBR vs. VSIAXVBR vs. IJR

Return for Risk

VBK vs. VBR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VBK
VBK Risk / Return Rank: 4646
Overall Rank
VBK Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VBK Sortino Ratio Rank: 4242
Sortino Ratio Rank
VBK Omega Ratio Rank: 3939
Omega Ratio Rank
VBK Calmar Ratio Rank: 5353
Calmar Ratio Rank
VBK Martin Ratio Rank: 5454
Martin Ratio Rank
VBR
VBR Risk / Return Rank: 7979
Overall Rank
VBR Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
VBR Sortino Ratio Rank: 8080
Sortino Ratio Rank
VBR Omega Ratio Rank: 7575
Omega Ratio Rank
VBR Calmar Ratio Rank: 8181
Calmar Ratio Rank
VBR Martin Ratio Rank: 8282
Martin Ratio Rank
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.

VBK vs. VBR - Risk-Adjusted Trends Comparison

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

VBKVBRDifference
Sharpe ratioReturn per unit of total volatility
1.04
1.75

-0.70

Sortino ratioReturn per unit of downside risk
1.55
2.58

-1.04

Omega ratioGain probability vs. loss probability

1.18

1.31

-0.13

Calmar ratioReturn relative to maximum drawdown

1.86

2.93

-1.07

Martin ratioReturn relative to average drawdown

6.29

10.70

-4.42

VBK vs. VBR - Sharpe Ratio Comparison

The current VBK Sharpe Ratio is 1.04, which is lower than the VBR Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of VBK 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.

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Drawdowns

VBK vs. VBR - Drawdown Comparison

The maximum VBK drawdown since its inception was -58.68%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for VBK and VBR.

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Drawdown Indicators

VBKVBRDifference

Max Drawdown

Largest peak-to-trough decline

-58.68%

-61.98%

+3.30%

Max Drawdown (1Y)

Largest decline over 1 year

-11.44%

-8.85%

-2.59%

Max Drawdown (3Y)

Largest decline over 3 years

-27.54%

-24.19%

-3.35%

Max Drawdown (5Y)

Largest decline over 5 years

-38.39%

-24.19%

-14.20%

Max Drawdown (10Y)

Largest decline over 10 years

-38.70%

-45.28%

+6.58%

Current Drawdown

Current decline from peak

-6.90%

-1.40%

-5.50%

Average Drawdown

Average peak-to-trough decline

-10.10%

-8.21%

-1.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

2.42%

+0.95%

Volatility

VBK vs. VBR - Volatility Comparison

Vanguard Small-Cap Growth ETF (VBK) has a higher volatility of 5.16% compared to Vanguard Small-Cap Value ETF (VBR) at 3.36%. This indicates that VBK'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.

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Volatility by Period

VBKVBRDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.16%

3.36%

+1.80%

Volatility (6M)

Calculated over the trailing 6-month period

15.93%

10.22%

+5.71%

Volatility (1Y)

Calculated over the trailing 1-year period

20.39%

14.90%

+5.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.65%

19.56%

+4.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.91%

21.66%

+1.25%

VBK vs. VBR - Expense Ratio Comparison

Both VBK and VBR 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

VBK vs. VBR - Dividend Comparison

VBK's dividend yield for the trailing twelve months is around 0.45%, less than VBR's 1.77% yield.

PositionTTM20252024202320222021202020192018201720162015
VBK
Vanguard Small-Cap Growth ETF		0.45%0.54%0.54%0.68%0.55%0.36%0.44%0.57%0.79%0.82%1.08%0.98%
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

VBK and VBR have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VBK has higher volatility (5.16%) compared to VBR (3.36%). In terms of maximum drawdown, VBK dropped -58.68% vs VBR's -61.98%.

On 10-year performance, VBK leads with 10.90% vs 10.75% for VBR. Both ETFs have the same 0.05% expense ratio. On volatility, VBR has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VBK has performed better with a 10.90% return vs 10.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBK and VBR have the same expense ratio: 0.05% per year.

VBR has the higher dividend yield at 1.77%, compared with 0.45% for VBK.

VBK is categorized as Small Cap Growth Equities, while VBR is Small Cap Value Equities. VBK tracks CRSP US Small Cap Growth Index, while VBR tracks CRSP US Small Cap Value Index.

VBR currently has the higher Sharpe Ratio (1.75 vs 1.04), 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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