VIOO vs. VV

Last updated Aug 2, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and VV (Vanguard Large-Cap ETF) are both exchange-traded funds - VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while VV is a Large Cap Blend Equities fund tracking the CRSP US Large Cap Index. Both are passively managed. Over the past 10 years, VIOO returned 10.87%/yr vs 15.14%/yr for VV. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VIOO charges 0.07%/yr vs 0.04%/yr for VV.

Performance

VIOO vs. VV - 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 Large-Cap ETF (VV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIOO achieves a 21.54% return, which is significantly higher than VV's 9.78% return. Over the past 10 years, VIOO has underperformed VV with an annualized return of 10.87%, while VV has yielded a comparatively higher 15.14% annualized return.

VIOO

• 1D: -0.01%
• 1M: -0.56%
• 6M: 15.04%
• YTD: 21.54%
• 1Y: 35.81%
• 3Y*: 13.37%
• 5Y*: 7.42%
• 10Y*: 10.87%
• ALL TIME*: 12.46%

VV

• 1D: 0.68%
• 1M: 0.19%
• 6M: 8.54%
• YTD: 9.78%
• 1Y: 20.98%
• 3Y*: 19.53%
• 5Y*: 12.36%
• 10Y*: 15.14%
• ALL TIME*: 10.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VIOO Vanguard S&P Small-Cap 600 ETF	$8.61M	$8.65M	$9.93M
VV Vanguard Large-Cap ETF	$85.99M	$75.21M	$96.89M

VIOO vs. VV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	21.54%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
VV Vanguard Large-Cap ETF	9.78%	18.11%	25.25%	27.18%	-19.91%	27.41%	21.04%	31.25%	-4.46%	22.00%

Correlation

The correlation between VIOO and VV is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.79

The correlation between VIOO and VV has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

VIOO vs. VV - Sectors Allocation Comparison

Sectors	VIOO	VV
Financial Services	17.1%	11.5%
Industrials	15.6%	8.2%
Technology	15.6%	39.1%
Consumer Cyclical	13.2%	9.0%
Healthcare	12.2%	8.9%
Real Estate	7.6%	1.6%
Energy	4.9%	3.0%
Basic Materials	4.7%	1.7%
Consumer Defensive	4.2%	4.4%
Communication Services	3.2%	9.7%
Utilities	1.8%	2.5%

Return for Risk

VIOO vs. VV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VIOO

VIOO Risk / Return Rank: 86
VIOO Sharpe Ratio Rank: 84
VIOO Sortino Ratio Rank: 86
VIOO Omega Ratio Rank: 81
VIOO Calmar Ratio Rank: 90
VIOO Martin Ratio Rank: 88

VV

VV Risk / Return Rank: 63
VV Sharpe Ratio Rank: 64
VV Sortino Ratio Rank: 61
VV Omega Ratio Rank: 62
VV Calmar Ratio Rank: 59
VV Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VIOO vs. VV - 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 Large-Cap ETF (VV). 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.

	VIOO	VV	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.47	+0.48
Sortino ratio: Return per unit of downside risk	2.85	2.05	+0.80
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	3.85	2.07	+1.78
Martin ratio: Return relative to average drawdown	13.20	8.71	+4.48

VIOO vs. VV - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 1.95, which is higher than the VV Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of VIOO and VV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIOO vs. VV - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, smaller than the maximum VV drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VIOO and VV.

Drawdown Indicators

	VIOO	VV	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-54.81%	+10.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-9.21%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-27.93%	-18.97%	-8.96%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-25.66%	-2.27%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	-34.28%	-9.87%
Current Drawdown Current decline from peak	-1.95%	-1.53%	-0.42%
Average Drawdown Average peak-to-trough decline	-7.27%	-6.80%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.18%	+0.38%

Volatility

VIOO vs. VV - Volatility Comparison

Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Large-Cap ETF (VV) have volatilities of 3.46% and 3.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOO	VV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.64%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	10.18%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.41%	13.01%	+4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	17.35%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.94%	18.21%	+4.73%

VIOO vs. VV - Expense Ratio Comparison

VIOO has a 0.07% expense ratio, which is higher than VV's 0.04% 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

VIOO vs. VV - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.12%, more than VV's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOO Vanguard S&P Small-Cap 600 ETF	1.12%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%
VV Vanguard Large-Cap ETF	1.02%	1.08%	1.24%	1.41%	1.66%	1.19%	1.46%	1.81%	2.09%	1.75%	1.98%	1.96%

Frequently Asked Questions

Can I hold both VIOO and VV in my portfolio?

VIOO and VV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIOO or VV?

VV has higher volatility (3.64%) compared to VIOO (3.46%). In terms of maximum drawdown, VIOO dropped -44.15% vs VV's -54.81%.

Which ETF is better, VIOO or VV?

On 10-year performance, VV leads with 15.14% vs 10.87% for VIOO. On fees, VV is cheaper at 0.04% per year. On volatility, VIOO has been the lower-risk option at 3.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VIOO or VV?

Over the 10-year period, VV has performed better with a 15.14% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIOO or VV?

VV is cheaper with a 0.04% expense ratio, compared with 0.07% for VIOO.

Which ETF pays a higher dividend yield, VIOO or VV?

VIOO has the higher dividend yield at 1.12%, compared with 1.02% for VV.

What is the main difference between VIOO and VV?

VIOO is categorized as Small Cap Blend Equities, while VV is Large Cap Blend Equities. VIOO tracks S&P SmallCap 600 Index, while VV tracks CRSP US Large Cap Index. Their fees differ too: 0.07% for VIOO and 0.04% for VV.

Which has better risk-adjusted returns?

VIOO currently has the higher Sharpe Ratio (1.95 vs 1.47), 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.