VBR vs. EPSV

Last updated Jun 23, 2026

VBR (Vanguard Small-Cap Value ETF) and EPSV (Harbor SMID Cap Value ETF) are both Small Cap Value Equities funds. VBR is passively managed, while EPSV is actively managed. Over the past year, VBR returned 27.72% vs 47.60% for EPSV. Their correlation of 0.93 suggests significant overlap in exposure. VBR charges 0.05%/yr vs 0.88%/yr for EPSV.

Performance

VBR vs. EPSV - Performance Comparison

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

Returns By Period

In the year-to-date period, VBR achieves a 13.42% return, which is significantly lower than EPSV's 29.08% return.

VBR

• 1D: 0.18%
• 1M: 2.65%
• YTD: 13.42%
• 6M: 11.41%
• 1Y: 27.72%
• 3Y*: 16.95%
• 5Y*: 8.85%
• 10Y*: 11.02%

EPSV

• 1D: 0.67%
• 1M: 5.53%
• YTD: 29.08%
• 6M: 26.67%
• 1Y: 47.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBR vs. EPSV - Yearly Performance Comparison

	2026 (YTD)	2025
VBR Vanguard Small-Cap Value ETF	13.42%	19.10%
EPSV Harbor SMID Cap Value ETF	29.08%	22.17%

Correlation

The correlation between VBR and EPSV is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.93

The correlation between VBR and EPSV has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

VBR vs. EPSV - Sectors Allocation Comparison

Sectors	VBR	EPSV
Financial Services	17.5%	17.9%
Industrials	17.4%	23.2%
Consumer Cyclical	12.5%	8.3%
Technology	12.1%	16.1%
Real Estate	10.5%	8.3%
Healthcare	8.3%	2.4%
Basic Materials	6.0%	5.2%
Utilities	4.6%	1.5%
Energy	4.3%	4.6%
Consumer Defensive	4.0%	3.7%
Communication Services	2.8%	-

Return for Risk

VBR vs. EPSV — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 59
VBR Sharpe Ratio Rank: 56
VBR Sortino Ratio Rank: 58
VBR Omega Ratio Rank: 52
VBR Calmar Ratio Rank: 65
VBR Martin Ratio Rank: 63

EPSV

EPSV Risk / Return Rank: 86
EPSV Sharpe Ratio Rank: 85
EPSV Sortino Ratio Rank: 86
EPSV Omega Ratio Rank: 80
EPSV Calmar Ratio Rank: 90
EPSV Martin Ratio Rank: 88

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.

VBR vs. EPSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and Harbor SMID Cap Value ETF (EPSV). 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.

	VBR	EPSV	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.65	-0.83
Sortino ratio: Return per unit of downside risk	2.67	3.68	-1.02
Omega ratio: Gain probability vs. loss probability	1.31	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	3.14	5.35	-2.21
Martin ratio: Return relative to average drawdown	11.11	18.57	-7.46

VBR vs. EPSV - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.82, which is lower than the EPSV Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of VBR and EPSV, 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

VBR vs. EPSV - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than EPSV's maximum drawdown of -8.93%. Use the drawdown chart below to compare losses from any high point for VBR and EPSV.

Drawdown Indicators

	VBR	EPSV	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-8.93%	-53.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-8.93%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-24.19%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.28%	—	—
Current Drawdown Current decline from peak	-1.03%	0.00%	-1.03%
Average Drawdown Average peak-to-trough decline	-8.25%	-1.63%	-6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.57%	-0.07%

Volatility

VBR vs. EPSV - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 3.97%, while Harbor SMID Cap Value ETF (EPSV) has a volatility of 5.47%. This indicates that VBR experiences smaller price fluctuations and is considered to be less risky than EPSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBR	EPSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	5.47%	-1.50%
Volatility (6M) Calculated over the trailing 6-month period	10.66%	13.14%	-2.48%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	18.10%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	18.25%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.75%	18.25%	+3.50%

VBR vs. EPSV - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than EPSV's 0.88% expense ratio.

Dividends

VBR vs. EPSV - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.73%, less than EPSV's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPSV Harbor SMID Cap Value ETF	2.23%	2.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VBR Vanguard Small-Cap Value ETF	1.73%	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 VBR and EPSV in my portfolio?

With a correlation of 0.92, VBR and EPSV 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, VBR or EPSV?

EPSV has higher volatility (5.47%) compared to VBR (3.97%). In terms of maximum drawdown, VBR dropped -61.98% vs EPSV's -8.93%.

Which ETF is better, VBR or EPSV?

On 1-year performance, EPSV leads with 47.60% vs 27.72% for VBR. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBR or EPSV?

Over the 1-year period, EPSV has performed better with a 47.60% return vs 27.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBR or EPSV?

VBR is cheaper with a 0.05% expense ratio, compared with 0.88% for EPSV.

Which ETF pays a higher dividend yield, VBR or EPSV?

EPSV has the higher dividend yield at 2.23%, compared with 1.73% for VBR.

What is the main difference between VBR and EPSV?

They also come from different issuers: Vanguard and Harbor. Their fees differ too: 0.05% for VBR and 0.88% for EPSV.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (2.65 vs 1.82), 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.