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VBR vs. VFV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBR vs. VFV.TO

Last updated Jun 13, 2026

VBR (Vanguard Small-Cap Value ETF) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VBR returned 10.99%/yr vs 15.13%/yr for VFV.TO. A 0.57 correlation means they provide meaningful diversification when combined. VBR charges 0.05%/yr vs 0.09%/yr for VFV.TO.

Performance

VBR vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value ETF (VBR) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VBR is traded in USD, while VFV.TO is traded in CAD. To make them comparable, the VFV.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VBR achieves a 14.60% return, which is significantly higher than VFV.TO's 8.81% return. Over the past 10 years, VBR has underperformed VFV.TO with an annualized return of 10.99%, while VFV.TO has yielded a comparatively higher 15.13% 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%

VFV.TO

1D
0.51%
1M
-0.09%
YTD
8.81%
6M
9.33%
1Y
24.69%
3Y*
20.80%
5Y*
13.00%
10Y*
15.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBR vs. VFV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VFV.TO
Vanguard S&P 500 Index ETF		8.75%17.55%24.68%26.24%-17.79%27.57%18.42%30.52%-5.03%21.94%

Correlation

The correlation between VBR and VFV.TO is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.53

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2012

0.57

The correlation between VBR and VFV.TO has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.

VBR vs. VFV.TO - Sectors Allocation Comparison

Sectors
VBR
VFV.TO

Industrials

18.1%
8.3%

Financial Services

17.6%
11.6%

Consumer Cyclical

12.4%
10.2%

Technology

10.6%
35.7%

Real Estate

10.1%
1.9%

Healthcare

7.9%
8.5%

Basic Materials

6.3%
1.8%

Energy

5.2%
3.5%

Utilities

4.8%
2.4%

Consumer Defensive

4.0%
4.9%

Communication Services

2.5%
11.3%

Industrials

VBR
18.1%
VFV.TO
8.3%

Financial Services

VBR
17.6%
VFV.TO
11.6%

Consumer Cyclical

VBR
12.4%
VFV.TO
10.2%

Technology

VBR
10.6%
VFV.TO
35.7%

Real Estate

VBR
10.1%
VFV.TO
1.9%

Healthcare

VBR
7.9%
VFV.TO
8.5%

Basic Materials

VBR
6.3%
VFV.TO
1.8%

Energy

VBR
5.2%
VFV.TO
3.5%

Utilities

VBR
4.8%
VFV.TO
2.4%

Consumer Defensive

VBR
4.0%
VFV.TO
4.9%

Communication Services

VBR
2.5%
VFV.TO
11.3%

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 Value ETF

Vanguard S&P 500 Index ETF

Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VBKVBR vs. VOOVBR vs. VTIVBR vs. VIOVVBR vs. VSIAX
Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. QQC.TOVFV.TO vs. VSP.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.TO

Return for Risk

VBR vs. VFV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBR
VBR Risk / Return Rank: 6767
Overall Rank
VBR Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
VBR Sortino Ratio Rank: 6868
Sortino Ratio Rank
VBR Omega Ratio Rank: 5959
Omega Ratio Rank
VBR Calmar Ratio Rank: 7272
Calmar Ratio Rank
VBR Martin Ratio Rank: 7070
Martin Ratio Rank
VFV.TO
VFV.TO Risk / Return Rank: 7979
Overall Rank
VFV.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
VFV.TO Sortino Ratio Rank: 8181
Sortino Ratio Rank
VFV.TO Omega Ratio Rank: 8383
Omega Ratio Rank
VFV.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
VFV.TO Martin Ratio Rank: 7474
Martin Ratio Rank
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. VFV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and Vanguard S&P 500 Index ETF (VFV.TO). 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.

VBRVFV.TODifference
Sharpe ratioReturn per unit of total volatility
1.83
1.94

-0.11

Sortino ratioReturn per unit of downside risk
2.67
2.63

+0.04

Omega ratioGain probability vs. loss probability

1.31

1.36

-0.04

Calmar ratioReturn relative to maximum drawdown

3.17

2.74

+0.43

Martin ratioReturn relative to average drawdown

11.22

11.87

-0.65

VBR vs. VFV.TO - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.83, which is comparable to the VFV.TO Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VBR and VFV.TO, 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

VBR vs. VFV.TO - Drawdown Comparison

The maximum VBR drawdown since its inception was -61.98%, which is greater than VFV.TO's maximum drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for VBR and VFV.TO.

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Drawdown Indicators

VBRVFV.TODifference

Max Drawdown

Largest peak-to-trough decline

-61.98%

-33.56%

-28.42%

Max Drawdown (1Y)

Largest decline over 1 year

-8.85%

-9.04%

+0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-24.19%

-18.94%

-5.25%

Max Drawdown (5Y)

Largest decline over 5 years

-24.19%

-24.33%

+0.14%

Max Drawdown (10Y)

Largest decline over 10 years

-45.28%

-33.56%

-11.72%

Current Drawdown

Current decline from peak

0.00%

-2.43%

+2.43%

Average Drawdown

Average peak-to-trough decline

-8.26%

-3.85%

-4.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.50%

2.08%

+0.42%

Volatility

VBR vs. VFV.TO - Volatility Comparison

Vanguard Small-Cap Value ETF (VBR) and Vanguard S&P 500 Index ETF (VFV.TO) have volatilities of 4.43% and 4.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VBRVFV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.43%

4.51%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

10.65%

9.72%

+0.93%

Volatility (1Y)

Calculated over the trailing 1-year period

15.36%

12.80%

+2.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.79%

16.10%

+3.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.74%

17.73%

+4.01%

VBR vs. VFV.TO - Expense Ratio Comparison

VBR has a 0.05% expense ratio, which is lower than VFV.TO's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VBR vs. VFV.TO - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.71%, more than VFV.TO's 0.84% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VFV.TO
Vanguard S&P 500 Index ETF		0.84%0.92%0.99%1.20%1.31%1.06%1.33%1.55%1.69%1.51%1.65%1.63%

Frequently Asked Questions

VBR and VFV.TO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

VBR is cheaper with a 0.05% expense ratio, compared with 0.09% for VFV.TO.

VBR is categorized as Small Cap Value Equities, while VFV.TO is S&P 500. VBR tracks CRSP US Small Cap Value Index, while VFV.TO tracks S&P 500 Index. Their fees differ too: 0.05% for VBR and 0.09% for VFV.TO.

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