VDHG.AX vs. VFMF

Last updated Jun 4, 2026

VDHG.AX (Vanguard Diversified High Growth INDEX ETF) and VFMF (Vanguard U.S. Multifactor ETF) are both exchange-traded funds - VDHG.AX is a Large Cap Growth Equities fund actively managed by Vanguard, while VFMF is a Multi-factor fund managed by Vanguard. Over the past 5 years, VDHG.AX returned 8.71%/yr vs 14.81%/yr for VFMF. At a 0.10 correlation, their price movements are largely independent. VDHG.AX charges 0.27%/yr vs 0.18%/yr for VFMF.

Performance

VDHG.AX vs. VFMF - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard U.S. Multifactor ETF (VFMF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VDHG.AX is traded in AUD, while VFMF is traded in USD. To make them comparable, the VFMF values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VDHG.AX achieves a 4.28% return, which is significantly lower than VFMF's 7.51% return.

VDHG.AX

• 1D: 0.66%
• 1M: 3.58%
• YTD: 4.28%
• 6M: 5.37%
• 1Y: 14.57%
• 3Y*: 14.42%
• 5Y*: 8.71%
• 10Y*: —

VFMF

• 1D: 0.02%
• 1M: 3.60%
• YTD: 7.51%
• 6M: 7.47%
• 1Y: 21.09%
• 3Y*: 19.27%
• 5Y*: 14.81%
• 10Y*: —

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

VDHG.AX vs. VFMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VDHG.AX Vanguard Diversified High Growth INDEX ETF	4.28%	12.88%	17.84%	15.49%	-9.55%	13.42%	7.74%	23.67%	-0.93%
VFMF Vanguard U.S. Multifactor ETF	7.51%	8.85%	27.23%	18.61%	0.54%	37.68%	-4.23%	22.91%	-0.02%

Correlation

The correlation between VDHG.AX and VFMF is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Feb 16, 2018	0.10

The correlation between VDHG.AX and VFMF shifts across timeframes, from -0.07 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VDHG.AX vs. VFMF — Risk / Return Rank

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

VDHG.AX

VDHG.AX Risk / Return Rank: 43
VDHG.AX Sharpe Ratio Rank: 43
VDHG.AX Sortino Ratio Rank: 43
VDHG.AX Omega Ratio Rank: 46
VDHG.AX Calmar Ratio Rank: 40
VDHG.AX Martin Ratio Rank: 45

VFMF

VFMF Risk / Return Rank: 80
VFMF Sharpe Ratio Rank: 77
VFMF Sortino Ratio Rank: 81
VFMF Omega Ratio Rank: 75
VFMF Calmar Ratio Rank: 85
VFMF Martin Ratio Rank: 85

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.

VDHG.AX vs. VFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard U.S. Multifactor ETF (VFMF). 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.

	VDHG.AX	VFMF	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.78	-0.26
Sortino ratio: Return per unit of downside risk	2.15	2.66	-0.51
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	1.97	2.77	-0.80
Martin ratio: Return relative to average drawdown	7.48	10.02	-2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDHG.AX vs. VFMF - Sharpe Ratio Comparison

The current VDHG.AX Sharpe Ratio is 1.52, which is comparable to the VFMF Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of VDHG.AX and VFMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VDHG.AX	VFMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.78	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.93	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.72	+0.08

Drawdowns

VDHG.AX vs. VFMF - Drawdown Comparison

The maximum VDHG.AX drawdown since its inception was -28.34%, smaller than the maximum VFMF drawdown of -32.32%. Use the drawdown chart below to compare losses from any high point for VDHG.AX and VFMF.

Drawdown Indicators

	VDHG.AX	VFMF	Difference
Max Drawdown Largest peak-to-trough decline	-28.34%	-32.32%	+3.98%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-7.65%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-12.49%	-18.25%	+5.76%
Max Drawdown (5Y) Largest decline over 5 years	-17.16%	-18.25%	+1.09%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.66%	-5.28%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	2.11%	-0.17%

Volatility

VDHG.AX vs. VFMF - Volatility Comparison

Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard U.S. Multifactor ETF (VFMF) have volatilities of 2.71% and 2.60%, 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.

Volatility by Period

	VDHG.AX	VFMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.60%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	8.41%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	9.54%	11.97%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.81%	15.96%	-5.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.84%	18.94%	-7.10%

VDHG.AX vs. VFMF - Expense Ratio Comparison

VDHG.AX has a 0.27% expense ratio, which is higher than VFMF's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VDHG.AX vs. VFMF - Dividend Comparison

VDHG.AX's dividend yield for the trailing twelve months is around 3.23%, more than VFMF's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
VDHG.AX Vanguard Diversified High Growth INDEX ETF	3.23%	3.94%	3.15%	2.68%	4.94%	5.52%	5.09%	3.87%	2.48%
VFMF Vanguard U.S. Multifactor ETF	1.37%	1.54%	1.60%	1.78%	2.21%	1.39%	1.56%	1.61%	1.22%

Frequently Asked Questions

Can I hold both VDHG.AX and VFMF in my portfolio?

VDHG.AX and VFMF have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VDHG.AX or VFMF?

On fees, VFMF is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VDHG.AX or VFMF?

VFMF is cheaper with a 0.18% expense ratio, compared with 0.27% for VDHG.AX.

What is the main difference between VDHG.AX and VFMF?

VDHG.AX is categorized as Large Cap Growth Equities, while VFMF is Multi-factor. Their fees differ too: 0.27% for VDHG.AX and 0.18% for VFMF.