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VIOO vs. AVUV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIOO vs. AVUV

Last updated Jun 23, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. VIOO is passively managed, while AVUV is actively managed. Over the past 5 years, VIOO returned 6.65%/yr vs 11.94%/yr for AVUV. With a 0.96 correlation, they move nearly in lockstep. VIOO charges 0.07%/yr vs 0.25%/yr for AVUV.

Performance

VIOO vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VIOO achieves a 19.73% return, which is significantly lower than AVUV's 20.76% return.

VIOO

1D
0.05%
1M
4.59%
YTD
19.73%
6M
16.79%
1Y
36.99%
3Y*
16.33%
5Y*
6.65%
10Y*
11.35%

AVUV

1D
0.31%
1M
2.33%
YTD
20.76%
6M
18.15%
1Y
39.60%
3Y*
20.03%
5Y*
11.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIOO vs. AVUV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VIOO
Vanguard S&P Small-Cap 600 ETF		19.73%6.04%8.48%16.16%-16.26%26.79%11.47%6.46%
AVUV
Avantis US Small Cap Value ETF		20.76%7.44%9.28%22.82%-4.91%42.20%6.43%8.54%

Correlation

The correlation between VIOO and AVUV is 0.94, 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

0.94

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

0.96

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

0.96

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.96

The correlation between VIOO and AVUV has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

VIOO vs. AVUV - Sectors Allocation Comparison

Sectors
VIOO
AVUV

Financial Services

16.9%
26.1%

Industrials

15.5%
13.6%

Technology

15.5%
7.4%

Consumer Cyclical

13.4%
18.7%

Healthcare

11.0%
4.8%

Real Estate

7.7%
0.7%

Energy

5.9%
15.8%

Basic Materials

5.1%
5.1%

Communication Services

3.6%
3.1%

Consumer Defensive

3.5%
4.7%

Utilities

2.0%
0.1%

Financial Services

VIOO
16.9%
AVUV
26.1%

Industrials

VIOO
15.5%
AVUV
13.6%

Technology

VIOO
15.5%
AVUV
7.4%

Consumer Cyclical

VIOO
13.4%
AVUV
18.7%

Healthcare

VIOO
11.0%
AVUV
4.8%

Real Estate

VIOO
7.7%
AVUV
0.7%

Energy

VIOO
5.9%
AVUV
15.8%

Basic Materials

VIOO
5.1%
AVUV
5.1%

Communication Services

VIOO
3.6%
AVUV
3.1%

Consumer Defensive

VIOO
3.5%
AVUV
4.7%

Utilities

VIOO
2.0%
AVUV
0.1%

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 Small-Cap 600 ETF

Avantis US Small Cap Value ETF

Often compared with VIOO:
VIOO vs. VBVIOO vs. IJRVIOO vs. VOVIOO vs. VIOVVIOO vs. VTWOVIOO vs. VIOGVIOO vs. SPSM
Often compared with AVUV:
AVUV vs. VBRAVUV vs. VTIAVUV vs. IWMAVUV vs. IJRAVUV vs. DFSVAVUV vs. VIOVAVUV vs. AVUVX

Return for Risk

VIOO vs. AVUV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIOO
VIOO Risk / Return Rank: 7171
Overall Rank
VIOO Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
VIOO Sortino Ratio Rank: 6969
Sortino Ratio Rank
VIOO Omega Ratio Rank: 6060
Omega Ratio Rank
VIOO Calmar Ratio Rank: 8383
Calmar Ratio Rank
VIOO Martin Ratio Rank: 7777
Martin Ratio Rank
AVUV
AVUV Risk / Return Rank: 7676
Overall Rank
AVUV Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
AVUV Sortino Ratio Rank: 7575
Sortino Ratio Rank
AVUV Omega Ratio Rank: 6868
Omega Ratio Rank
AVUV Calmar Ratio Rank: 8888
Calmar Ratio Rank
AVUV Martin Ratio Rank: 7979
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.

VIOO vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and Avantis US Small Cap Value ETF (AVUV). 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.

VIOOAVUVDifference
Sharpe ratioReturn per unit of total volatility
2.09
2.26

-0.16

Sortino ratioReturn per unit of downside risk
3.00
3.21

-0.20

Omega ratioGain probability vs. loss probability

1.36

1.39

-0.03

Calmar ratioReturn relative to maximum drawdown

4.24

5.00

-0.77

Martin ratioReturn relative to average drawdown

14.31

14.84

-0.53

VIOO vs. AVUV - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 2.09, which is comparable to the AVUV Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of VIOO and AVUV, 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

VIOO vs. AVUV - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, smaller than the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for VIOO and AVUV.

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Drawdown Indicators

VIOOAVUVDifference

Max Drawdown

Largest peak-to-trough decline

-44.15%

-49.42%

+5.27%

Max Drawdown (1Y)

Largest decline over 1 year

-8.77%

-7.95%

-0.82%

Max Drawdown (3Y)

Largest decline over 3 years

-27.93%

-28.79%

+0.86%

Max Drawdown (5Y)

Largest decline over 5 years

-27.93%

-28.79%

+0.86%

Max Drawdown (10Y)

Largest decline over 10 years

-44.15%

—

—

Current Drawdown

Current decline from peak

-0.12%

-1.61%

+1.49%

Average Drawdown

Average peak-to-trough decline

-7.31%

-7.90%

+0.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

2.68%

-0.09%

Volatility

VIOO vs. AVUV - Volatility Comparison

Vanguard S&P Small-Cap 600 ETF (VIOO) has a higher volatility of 4.93% compared to Avantis US Small Cap Value ETF (AVUV) at 4.28%. This indicates that VIOO's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIOOAVUVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.93%

4.28%

+0.65%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

11.39%

+0.71%

Volatility (1Y)

Calculated over the trailing 1-year period

17.80%

17.67%

+0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.40%

22.65%

-1.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.01%

28.23%

-5.22%

VIOO vs. AVUV - Expense Ratio Comparison

VIOO has a 0.07% expense ratio, which is lower than AVUV's 0.25% 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

VIOO vs. AVUV - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.13%, less than AVUV's 1.63% yield.

PositionTTM20252024202320222021202020192018201720162015
AVUV
Avantis US Small Cap Value ETF		1.63%1.58%1.61%1.65%1.74%1.28%1.21%0.38%0.00%0.00%0.00%0.00%
VIOO
Vanguard S&P Small-Cap 600 ETF		1.13%1.36%1.48%1.47%1.51%1.16%1.09%1.37%1.32%1.11%1.06%1.26%

Frequently Asked Questions

With a correlation of 0.94, VIOO and AVUV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

VIOO has higher volatility (4.93%) compared to AVUV (4.28%). In terms of maximum drawdown, VIOO dropped -44.15% vs AVUV's -49.42%.

On 5-year performance, AVUV leads with 11.94% vs 6.65% for VIOO. On fees, VIOO is cheaper at 0.07% per year. On volatility, AVUV has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, AVUV has performed better with a 11.94% return vs 6.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VIOO is cheaper with a 0.07% expense ratio, compared with 0.25% for AVUV.

AVUV has the higher dividend yield at 1.63%, compared with 1.13% for VIOO.

VIOO is categorized as Small Cap Blend Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: Vanguard and Avantis. Their fees differ too: 0.07% for VIOO and 0.25% for AVUV.

AVUV currently has the higher Sharpe Ratio (2.26 vs 2.09), 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.

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