PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VEVFX vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEVFX vs. IWM

Last updated Jun 24, 2026

VEVFX (Vanguard Explorer Value Fund) and IWM (iShares Russell 2000 ETF) are both funds - VEVFX is a Small Cap Value Equities fund managed by Vanguard, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, VEVFX returned 10.62%/yr vs 11.58%/yr for IWM. With a 0.95 correlation, they move nearly in lockstep. VEVFX charges 0.52%/yr vs 0.19%/yr for IWM.

Performance

VEVFX vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Explorer Value Fund (VEVFX) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VEVFX achieves a 17.12% return, which is significantly lower than IWM's 20.47% return. Over the past 10 years, VEVFX has underperformed IWM with an annualized return of 10.62%, while IWM has yielded a comparatively higher 11.58% annualized return.

VEVFX

1D
0.06%
1M
4.38%
YTD
17.12%
6M
16.04%
1Y
32.35%
3Y*
17.51%
5Y*
8.25%
10Y*
10.62%

IWM

1D
-0.96%
1M
3.82%
YTD
20.47%
6M
17.64%
1Y
40.90%
3Y*
19.22%
5Y*
6.27%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEVFX vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEVFX
Vanguard Explorer Value Fund		17.12%7.40%13.81%15.29%-14.11%28.14%3.29%26.92%-13.03%12.43%
IWM
iShares Russell 2000 ETF		20.47%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%

Correlation

The correlation between VEVFX and IWM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.88

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

0.93

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

0.94

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

0.94

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2010

0.95

The correlation between VEVFX and IWM has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

VEVFX vs. IWM - Sectors Allocation Comparison

Sectors
VEVFX
IWM

Financial Services

22.5%
15.5%

Industrials

16.6%
17.3%

Consumer Cyclical

16.0%
8.0%

Technology

9.9%
20.1%

Real Estate

7.9%
5.5%

Healthcare

7.5%
15.6%

Consumer Defensive

4.7%
2.0%

Energy

4.3%
6.0%

Communication Services

4.1%
1.7%

Utilities

3.4%
3.1%

Basic Materials

3.3%
4.5%

Financial Services

VEVFX
22.5%
IWM
15.5%

Industrials

VEVFX
16.6%
IWM
17.3%

Consumer Cyclical

VEVFX
16.0%
IWM
8.0%

Technology

VEVFX
9.9%
IWM
20.1%

Real Estate

VEVFX
7.9%
IWM
5.5%

Healthcare

VEVFX
7.5%
IWM
15.6%

Consumer Defensive

VEVFX
4.7%
IWM
2.0%

Energy

VEVFX
4.3%
IWM
6.0%

Communication Services

VEVFX
4.1%
IWM
1.7%

Utilities

VEVFX
3.4%
IWM
3.1%

Basic Materials

VEVFX
3.3%
IWM
4.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Explorer Value Fund

iShares Russell 2000 ETF

Often compared with VEVFX:
VEVFX vs. VASVXVEVFX vs. KARSVEVFX vs. VOOVEVFX vs. QQQVEVFX vs. NAESXVEVFX vs. VTIVEVFX vs. VFIAX
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. TNA

Return for Risk

VEVFX vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEVFX
VEVFX Risk / Return Rank: 5656
Overall Rank
VEVFX Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
VEVFX Sortino Ratio Rank: 5555
Sortino Ratio Rank
VEVFX Omega Ratio Rank: 4545
Omega Ratio Rank
VEVFX Calmar Ratio Rank: 7777
Calmar Ratio Rank
VEVFX Martin Ratio Rank: 5454
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6767
Overall Rank
IWM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 6464
Sortino Ratio Rank
IWM Omega Ratio Rank: 5757
Omega Ratio Rank
IWM Calmar Ratio Rank: 7575
Calmar Ratio Rank
IWM Martin Ratio Rank: 7373
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.

VEVFX vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Explorer Value Fund (VEVFX) and iShares Russell 2000 ETF (IWM). 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.

VEVFXIWMDifference
Sharpe ratioReturn per unit of total volatility
1.94
2.08

-0.15

Sortino ratioReturn per unit of downside risk
2.85
2.86

-0.01

Omega ratioGain probability vs. loss probability

1.33

1.34

-0.01

Calmar ratioReturn relative to maximum drawdown

3.32

3.73

-0.40

Martin ratioReturn relative to average drawdown

10.29

13.18

-2.90

VEVFX vs. IWM - Sharpe Ratio Comparison

The current VEVFX Sharpe Ratio is 1.94, which is comparable to the IWM Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of VEVFX and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

VEVFX vs. IWM - Drawdown Comparison

The maximum VEVFX drawdown since its inception was -47.53%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for VEVFX and IWM.

Loading charts...

Drawdown Indicators

VEVFXIWMDifference

Max Drawdown

Largest peak-to-trough decline

-47.53%

-59.05%

+11.52%

Max Drawdown (1Y)

Largest decline over 1 year

-10.31%

-11.03%

+0.72%

Max Drawdown (3Y)

Largest decline over 3 years

-27.32%

-27.50%

+0.18%

Max Drawdown (5Y)

Largest decline over 5 years

-27.32%

-31.91%

+4.59%

Max Drawdown (10Y)

Largest decline over 10 years

-47.53%

-41.13%

-6.40%

Current Drawdown

Current decline from peak

-0.16%

-0.96%

+0.80%

Average Drawdown

Average peak-to-trough decline

-6.60%

-10.75%

+4.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.32%

3.11%

+0.21%

Volatility

VEVFX vs. IWM - Volatility Comparison

The current volatility for Vanguard Explorer Value Fund (VEVFX) is 4.46%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.56%. This indicates that VEVFX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VEVFXIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.46%

6.56%

-2.10%

Volatility (6M)

Calculated over the trailing 6-month period

12.23%

14.31%

-2.08%

Volatility (1Y)

Calculated over the trailing 1-year period

17.72%

19.74%

-2.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.70%

22.61%

-1.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.51%

23.06%

-0.55%

VEVFX vs. IWM - Expense Ratio Comparison

VEVFX has a 0.52% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

VEVFX vs. IWM - Dividend Comparison

VEVFX's dividend yield for the trailing twelve months is around 8.76%, more than IWM's 0.90% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.90%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
VEVFX
Vanguard Explorer Value Fund		8.76%10.26%14.55%2.49%3.85%3.83%0.86%1.47%8.92%3.00%2.26%6.31%

Frequently Asked Questions

VEVFX and IWM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWM has higher volatility (6.56%) compared to VEVFX (4.46%). In terms of maximum drawdown, VEVFX dropped -47.53% vs IWM's -59.05%.

IWM currently has the higher Sharpe Ratio (2.08 vs 1.94), 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.

Portfolio Optimizer

Find the right allocation for VEVFX and IWM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer