VBR vs. T

Last updated Jun 13, 2026

VBR (Vanguard Small-Cap Value ETF) is Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while T (AT&T Inc.) is a stock. Over the past 10 years, VBR returned 10.99%/yr vs 3.33%/yr for T. At a 0.46 correlation, their price movements are largely independent.

Performance

VBR vs. T - Performance Comparison

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

Returns By Period

In the year-to-date period, VBR achieves a 14.60% return, which is significantly higher than T's -2.96% return. Over the past 10 years, VBR has outperformed T with an annualized return of 10.99%, while T has yielded a comparatively lower 3.33% annualized return.

VBR

• 1D: 0.87%
• 1M: 4.91%
• YTD: 14.60%
• 6M: 12.92%
• 1Y: 27.94%
• 3Y*: 16.09%
• 5Y*: 8.36%
• 10Y*: 10.99%

T

• 1D: 2.52%
• 1M: -4.69%
• YTD: -2.96%
• 6M: -1.93%
• 1Y: -12.96%
• 3Y*: 20.58%
• 5Y*: 7.38%
• 10Y*: 3.33%

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

VBR vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBR Vanguard Small-Cap Value ETF	14.60%	9.09%	12.40%	16.00%	-9.38%	28.08%	5.90%	22.78%	-12.28%	11.81%
T AT&T Inc.	-2.96%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between VBR and T is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.46

Over the past year, the correlation between VBR and T has dropped to 0.01 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Return for Risk

VBR vs. T — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 67
VBR Sharpe Ratio Rank: 64
VBR Sortino Ratio Rank: 68
VBR Omega Ratio Rank: 59
VBR Calmar Ratio Rank: 72
VBR Martin Ratio Rank: 70

T

T Risk / Return Rank: 18
T Sharpe Ratio Rank: 17
T Sortino Ratio Rank: 17
T Omega Ratio Rank: 18
T Calmar Ratio Rank: 21
T Martin Ratio Rank: 15

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. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	1.83	-0.59	+2.41
Sortino ratio: Return per unit of downside risk	2.67	-0.72	+3.39
Omega ratio: Gain probability vs. loss probability	1.31	0.92	+0.40
Calmar ratio: Return relative to maximum drawdown	3.17	-0.59	+3.76
Martin ratio: Return relative to average drawdown	11.22	-1.22	+12.44

VBR vs. T - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.83, which is higher than the T Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of VBR and T, 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. T - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, roughly equal to the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for VBR and T.

Drawdown Indicators

	VBR	T	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-64.15%	+2.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-21.87%	+13.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.19%	-21.87%	-2.32%
Max Drawdown (5Y) Largest decline over 5 years	-24.19%	-32.01%	+7.82%
Max Drawdown (10Y) Largest decline over 10 years	-45.28%	-42.35%	-2.93%
Current Drawdown Current decline from peak	0.00%	-18.12%	+18.12%
Average Drawdown Average peak-to-trough decline	-8.26%	-15.72%	+7.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	10.64%	-8.14%

Volatility

VBR vs. T - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 4.43%, while AT&T Inc. (T) has a volatility of 8.21%. This indicates that VBR experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBR	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	8.21%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	17.80%	-7.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	22.13%	-6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.79%	24.01%	-4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.74%	23.73%	-1.99%

Dividends

VBR vs. T - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.71%, less than T's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
T AT&T Inc.	4.71%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%
VBR Vanguard Small-Cap Value ETF	1.71%	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 T in my portfolio?

VBR and T have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBR or T?

T has higher volatility (8.21%) compared to VBR (4.43%). In terms of maximum drawdown, VBR dropped -61.98% vs T's -64.15%.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.83 vs -0.59), 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.