VBR vs. TCV

Last updated Jul 14, 2026

VBR (Vanguard Small-Cap Value ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. VBR is passively managed, while TCV is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. VBR charges 0.05%/yr vs 0.85%/yr for TCV.

Performance

VBR vs. TCV - Performance Comparison

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

Returns By Period

In the year-to-date period, VBR achieves a 15.34% return, which is significantly lower than TCV's 27.23% return.

VBR

• 1D: -0.11%
• 1M: 0.64%
• 6M: 10.11%
• YTD: 15.34%
• 1Y: 22.57%
• 3Y*: 15.15%
• 5Y*: 9.65%
• 10Y*: 10.53%

TCV

• 1D: 1.28%
• 1M: 1.11%
• 6M: 15.54%
• YTD: 27.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBR vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
VBR Vanguard Small-Cap Value ETF	15.34%	7.73%
TCV Towle Value ETF	27.23%	2.99%

Correlation

The correlation between VBR and TCV is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.79

Return for Risk

VBR vs. TCV — 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: 55
VBR Sortino Ratio Rank: 60
VBR Omega Ratio Rank: 53
VBR Calmar Ratio Rank: 64
VBR Martin Ratio Rank: 64

TCV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and Towle Value ETF (TCV). 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	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.24	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.56	—	—
Martin ratio: Return relative to average drawdown	9.07	—	—

Drawdowns

VBR vs. TCV - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for VBR and TCV.

Drawdown Indicators

	VBR	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-12.23%	-49.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	—	—
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	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-8.23%	-3.32%	-4.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	—	—

Volatility

Volatility by Period

	VBR	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	21.21%	-6.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.65%	21.21%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	21.21%	+0.44%

VBR vs. TCV - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

VBR vs. TCV - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.79%, more than TCV's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCV Towle Value ETF	0.57%	0.31%	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	1.79%	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 TCV in my portfolio?

VBR and TCV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBR or TCV?

On fees, VBR is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VBR or TCV?

VBR is cheaper with a 0.05% expense ratio, compared with 0.85% for TCV.

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

VBR has the higher dividend yield at 1.79%, compared with 0.57% for TCV.

What is the main difference between VBR and TCV?

They also come from different issuers: Vanguard and Towle. Their fees differ too: 0.05% for VBR and 0.85% for TCV.