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

VFV.TO vs. VBR

Last updated Jun 13, 2026

VFV.TO (Vanguard S&P 500 Index ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - VFV.TO is a S&P 500 fund tracking the S&P 500 Index, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Both are passively managed. Over the past 10 years, VFV.TO returned 16.12%/yr vs 11.95%/yr for VBR. A 0.59 correlation means they provide meaningful diversification when combined. VFV.TO charges 0.09%/yr vs 0.05%/yr for VBR.

Performance

VFV.TO vs. VBR - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, VFV.TO achieves a 11.07% return, which is significantly lower than VBR's 17.04% return. Over the past 10 years, VFV.TO has outperformed VBR with an annualized return of 16.12%, while VBR has yielded a comparatively lower 11.95% annualized return.

VFV.TO

1D
0.74%
1M
1.97%
YTD
11.07%
6M
10.94%
1Y
27.54%
3Y*
22.63%
5Y*
16.33%
10Y*
16.12%

VBR

1D
1.16%
1M
7.13%
YTD
17.04%
6M
14.65%
1Y
30.95%
3Y*
17.87%
5Y*
11.56%
10Y*
11.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VFV.TO vs. VBR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VFV.TO
Vanguard S&P 500 Index ETF		11.07%12.18%35.23%23.23%-12.58%27.51%15.61%25.14%2.95%13.69%
VBR
Vanguard Small-Cap Value ETF		17.04%4.11%21.92%13.24%-3.63%28.02%3.38%17.72%-4.91%4.24%

Correlation

The correlation between VFV.TO and VBR is 0.58, 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

0.58

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

0.55

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

0.60

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

0.59

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

0.59

The correlation between VFV.TO and VBR has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

VFV.TO vs. VBR - Sectors Allocation Comparison

Sectors
VFV.TO
VBR

Technology

35.7%
10.6%

Financial Services

11.6%
17.6%

Communication Services

11.3%
2.5%

Consumer Cyclical

10.2%
12.4%

Healthcare

8.5%
7.9%

Industrials

8.3%
18.1%

Consumer Defensive

4.9%
4.0%

Energy

3.5%
5.2%

Utilities

2.4%
4.8%

Real Estate

1.9%
10.1%

Basic Materials

1.8%
6.3%

Technology

VFV.TO
35.7%
VBR
10.6%

Financial Services

VFV.TO
11.6%
VBR
17.6%

Communication Services

VFV.TO
11.3%
VBR
2.5%

Consumer Cyclical

VFV.TO
10.2%
VBR
12.4%

Healthcare

VFV.TO
8.5%
VBR
7.9%

Industrials

VFV.TO
8.3%
VBR
18.1%

Consumer Defensive

VFV.TO
4.9%
VBR
4.0%

Energy

VFV.TO
3.5%
VBR
5.2%

Utilities

VFV.TO
2.4%
VBR
4.8%

Real Estate

VFV.TO
1.9%
VBR
10.1%

Basic Materials

VFV.TO
1.8%
VBR
6.3%

Compare stocks, funds, or ETFs

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

Vanguard S&P 500 Index ETF

Vanguard Small-Cap Value ETF

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
Often compared with VBR:
VBR vs. AVUVVBR vs. VBVBR vs. VBKVBR vs. VOOVBR vs. VTIVBR vs. VIOVVBR vs. VSIAX

Return for Risk

VFV.TO vs. VBR — Risk / Return Rank

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

VFV.TO vs. VBR - Risk-Adjusted Trends Comparison

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

VFV.TOVBRDifference
Sharpe ratioReturn per unit of total volatility
2.33
1.94

+0.39

Sortino ratioReturn per unit of downside risk
3.14
2.84

+0.30

Omega ratioGain probability vs. loss probability

1.43

1.33

+0.10

Calmar ratioReturn relative to maximum drawdown

3.21

3.65

-0.44

Martin ratioReturn relative to average drawdown

12.10

13.33

-1.23

VFV.TO vs. VBR - Sharpe Ratio Comparison

The current VFV.TO Sharpe Ratio is 2.33, which is comparable to the VBR Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VFV.TO and VBR, 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

VFV.TO vs. VBR - Drawdown Comparison

The maximum VFV.TO drawdown since its inception was -27.43%, smaller than the maximum VBR drawdown of -56.55%. Use the drawdown chart below to compare losses from any high point for VFV.TO and VBR.

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Drawdown Indicators

VFV.TOVBRDifference

Max Drawdown

Largest peak-to-trough decline

-27.43%

-56.55%

+29.12%

Max Drawdown (1Y)

Largest decline over 1 year

-8.62%

-8.53%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-19.05%

-23.05%

+4.00%

Max Drawdown (5Y)

Largest decline over 5 years

-22.19%

-23.05%

+0.86%

Max Drawdown (10Y)

Largest decline over 10 years

-27.43%

-39.89%

+12.46%

Current Drawdown

Current decline from peak

-1.46%

0.00%

-1.46%

Average Drawdown

Average peak-to-trough decline

-3.35%

-9.53%

+6.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.28%

2.34%

-0.06%

Volatility

VFV.TO vs. VBR - Volatility Comparison

The current volatility for Vanguard S&P 500 Index ETF (VFV.TO) is 4.49%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 4.73%. This indicates that VFV.TO experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VFV.TOVBRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.49%

4.73%

-0.24%

Volatility (6M)

Calculated over the trailing 6-month period

9.22%

11.23%

-2.01%

Volatility (1Y)

Calculated over the trailing 1-year period

11.86%

16.01%

-4.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.99%

20.59%

-5.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.60%

22.51%

-5.91%

VFV.TO vs. VBR - Expense Ratio Comparison

VFV.TO has a 0.09% expense ratio, which is higher than VBR's 0.05% 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

VFV.TO vs. VBR - Dividend Comparison

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

VFV.TO and VBR have a correlation of 0.58, 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.

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

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