VIOO vs. VTWO

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Russell 2000 ETF (VTWO).

VIOO and VTWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VIOO is a passively managed fund by Vanguard that tracks the performance of the S&P SmallCap 600 Index. It was launched on Sep 7, 2010. VTWO is a passively managed fund by Vanguard that tracks the performance of the Russell 2000 Index. It was launched on Sep 20, 2010. Both VIOO and VTWO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VIOO vs. VTWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Russell 2000 ETF (VTWO). The values are adjusted to include any dividend payments, if applicable.

VIOO vs. VTWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	4.04%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
VTWO Vanguard Russell 2000 ETF	1.54%	12.90%	11.55%	17.08%	-20.49%	14.79%	20.22%	25.81%	-11.15%	14.69%

Returns By Period

In the year-to-date period, VIOO achieves a 4.04% return, which is significantly higher than VTWO's 1.54% return. Both investments have delivered pretty close results over the past 10 years, with VIOO having a 9.90% annualized return and VTWO not far ahead at 9.96%.

VIOO

• 1D: 0.53%
• 1M: -4.14%
• YTD: 4.04%
• 6M: 5.50%
• 1Y: 20.96%
• 3Y*: 10.70%
• 5Y*: 4.20%
• 10Y*: 9.90%

VTWO

• 1D: 0.62%
• 1M: -5.23%
• YTD: 1.54%
• 6M: 3.49%
• 1Y: 26.61%
• 3Y*: 13.37%
• 5Y*: 3.63%
• 10Y*: 9.96%

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

VIOO vs. VTWO - Expense Ratio Comparison

Both VIOO and VTWO have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

VIOO

Vanguard S&P Small-Cap 600 ETF

VTWO

Vanguard Russell 2000 ETF

Return for Risk

VIOO vs. VTWO — Risk / Return Rank

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

VIOO

VIOO Risk / Return Rank: 52
VIOO Sharpe Ratio Rank: 49
VIOO Sortino Ratio Rank: 52
VIOO Omega Ratio Rank: 47
VIOO Calmar Ratio Rank: 54
VIOO Martin Ratio Rank: 56

VTWO

VTWO Risk / Return Rank: 65
VTWO Sharpe Ratio Rank: 63
VTWO Sortino Ratio Rank: 65
VTWO Omega Ratio Rank: 56
VTWO Calmar Ratio Rank: 72
VTWO Martin Ratio Rank: 68

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. VTWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Russell 2000 ETF (VTWO). 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.

	VIOO	VTWO	Difference
Sharpe ratio Return per unit of total volatility	0.93	1.15	-0.22
Sortino ratio Return per unit of downside risk	1.43	1.70	-0.27
Omega ratio Gain probability vs. loss probability	1.19	1.22	-0.03
Calmar ratio Return relative to maximum drawdown	1.45	1.91	-0.47
Martin ratio Return relative to average drawdown	5.76	7.12	-1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOO vs. VTWO - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 0.93, which is comparable to the VTWO Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of VIOO and VTWO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VIOO	VTWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.15	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.16	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.43	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.48	+0.06

Correlation

The correlation between VIOO and VTWO is 0.95, 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

VIOO vs. VTWO - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.31%, more than VTWO's 1.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOO Vanguard S&P Small-Cap 600 ETF	1.31%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%
VTWO Vanguard Russell 2000 ETF	1.25%	1.25%	1.21%	1.45%	1.48%	1.13%	0.92%	1.36%	1.41%	1.18%	1.27%	1.23%

Drawdowns

VIOO vs. VTWO - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, which is greater than VTWO's maximum drawdown of -41.19%. Use the drawdown chart below to compare losses from any high point for VIOO and VTWO.

Drawdown Indicators

	VIOO	VTWO	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-41.19%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.66%	-13.90%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-31.88%	+3.95%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	-41.19%	-2.96%
Current Drawdown Current decline from peak	-5.30%	-7.29%	+1.99%
Average Drawdown Average peak-to-trough decline	-7.40%	-8.47%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.74%	-0.06%

Volatility

VIOO vs. VTWO - Volatility Comparison

The current volatility for Vanguard S&P Small-Cap 600 ETF (VIOO) is 6.32%, while Vanguard Russell 2000 ETF (VTWO) has a volatility of 7.38%. This indicates that VIOO experiences smaller price fluctuations and is considered to be less risky than VTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOO	VTWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	7.38%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	14.44%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	22.67%	23.29%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.50%	22.49%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.98%	23.04%	-0.06%