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VDHG.AX vs. VSO.AX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VDHG.AX vs. VSO.AX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX).

VDHG.AX and VSO.AX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VDHG.AX is an actively managed fund by Vanguard. It was launched on Nov 20, 2017. VSO.AX is a passively managed fund by Vanguard that tracks the performance of the MSCI Australian Shares Small Cap Index. It was launched on May 23, 2011.

Performance

VDHG.AX vs. VSO.AX - 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 MSCI Australian Small Companies INDEX ETF (VSO.AX). The values are adjusted to include any dividend payments, if applicable.

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VDHG.AX vs. VSO.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VDHG.AX
Vanguard Diversified High Growth INDEX ETF		-2.79%12.88%17.84%15.49%-9.55%13.42%7.74%23.67%-2.22%1.42%
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		-6.66%24.14%8.91%6.32%-11.74%21.77%14.75%21.67%-7.43%4.31%

Returns By Period

In the year-to-date period, VDHG.AX achieves a -2.79% return, which is significantly higher than VSO.AX's -6.66% return.

VDHG.AX

1D
1.97%
1M
-3.85%
YTD
-2.79%
6M
-1.04%
1Y
12.17%
3Y*
12.53%
5Y*
8.24%
10Y*
—

VSO.AX

1D
2.54%
1M
-7.87%
YTD
-6.66%
6M
-5.40%
1Y
17.76%
3Y*
10.48%
5Y*
6.92%
10Y*
9.71%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Vanguard Diversified High Growth INDEX ETF

Vanguard MSCI Australian Small Companies INDEX ETF

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Often compared with VSO.AX:
VSO.AX vs. STO.AXVSO.AX vs. IOOVSO.AX vs. SPEM

VDHG.AX vs. VSO.AX - Expense Ratio Comparison

VDHG.AX has a 0.27% expense ratio, which is lower than VSO.AX's 0.30% expense ratio.

VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF
VDHG.AX
Vanguard Diversified High Growth INDEX ETF

Return for Risk

VDHG.AX vs. VSO.AX — 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: 5454
Overall Rank
VDHG.AX Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
VDHG.AX Sortino Ratio Rank: 4949
Sortino Ratio Rank
VDHG.AX Omega Ratio Rank: 5454
Omega Ratio Rank
VDHG.AX Calmar Ratio Rank: 5959
Calmar Ratio Rank
VDHG.AX Martin Ratio Rank: 5656
Martin Ratio Rank
VSO.AX
VSO.AX Risk / Return Rank: 4545
Overall Rank
VSO.AX Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
VSO.AX Sortino Ratio Rank: 5151
Sortino Ratio Rank
VSO.AX Omega Ratio Rank: 4747
Omega Ratio Rank
VSO.AX Calmar Ratio Rank: 3737
Calmar Ratio Rank
VSO.AX Martin Ratio Rank: 3838
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.

VDHG.AX vs. VSO.AX - 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 MSCI Australian Small Companies INDEX ETF (VSO.AX). 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.AXVSO.AXDifference

Sharpe ratio

Return per unit of total volatility

0.96

1.00

-0.04

Sortino ratio

Return per unit of downside risk

1.40

1.43

-0.04

Omega ratio

Gain probability vs. loss probability

1.21

1.19

+0.02

Calmar ratio

Return relative to maximum drawdown

1.62

1.11

+0.52

Martin ratio

Return relative to average drawdown

5.93

4.08

+1.85

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. VSO.AX - Sharpe Ratio Comparison

The current VDHG.AX Sharpe Ratio is 0.96, which is comparable to the VSO.AX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of VDHG.AX and VSO.AX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VDHG.AXVSO.AXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.96

1.00

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

0.43

+0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.57

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

0.39

+0.35

Correlation

The correlation between VDHG.AX and VSO.AX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VDHG.AX vs. VSO.AX - Dividend Comparison

VDHG.AX's dividend yield for the trailing twelve months is around 3.47%, less than VSO.AX's 7.35% yield.

TTM20252024202320222021202020192018201720162015
VDHG.AX
Vanguard Diversified High Growth INDEX ETF		3.47%3.94%3.15%2.68%4.94%5.52%5.09%3.87%2.48%0.00%0.00%0.00%
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		7.35%6.86%2.44%3.89%5.39%3.55%6.24%2.96%2.21%3.86%3.30%2.68%

Drawdowns

VDHG.AX vs. VSO.AX - Drawdown Comparison

The maximum VDHG.AX drawdown since its inception was -28.34%, smaller than the maximum VSO.AX drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for VDHG.AX and VSO.AX.

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Drawdown Indicators

VDHG.AXVSO.AXDifference

Max Drawdown

Largest peak-to-trough decline

-28.34%

-40.60%

+12.26%

Max Drawdown (1Y)

Largest decline over 1 year

-7.64%

-16.81%

+9.17%

Max Drawdown (5Y)

Largest decline over 5 years

-17.16%

-23.53%

+6.37%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.60%

—

Current Drawdown

Current decline from peak

-4.60%

-11.55%

+6.95%

Average Drawdown

Average peak-to-trough decline

-3.71%

-6.35%

+2.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

4.57%

-2.56%

Volatility

VDHG.AX vs. VSO.AX - Volatility Comparison

The current volatility for Vanguard Diversified High Growth INDEX ETF (VDHG.AX) is 5.45%, while Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX) has a volatility of 8.37%. This indicates that VDHG.AX experiences smaller price fluctuations and is considered to be less risky than VSO.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDHG.AXVSO.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.45%

8.37%

-2.92%

Volatility (6M)

Calculated over the trailing 6-month period

7.82%

13.64%

-5.82%

Volatility (1Y)

Calculated over the trailing 1-year period

12.61%

17.78%

-5.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.78%

16.11%

-5.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.88%

16.81%

-4.93%