VIOV vs. VSIIX
Compare and contrast key facts about Vanguard S&P Small-Cap 600 Value ETF (VIOV) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX).
VIOV is a passively managed fund by Vanguard that tracks the performance of the S&P SmallCap 600 Value Index. It was launched on Sep 7, 2010. VSIIX is managed by Vanguard. It was launched on Dec 7, 1999.
Performance
VIOV vs. VSIIX - Performance Comparison
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VIOV vs. VSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 4.51% | 6.63% | 7.44% | 15.36% | -11.37% | 30.67% | 2.81% | 24.44% | -12.85% | 11.54% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 0.79% | 9.10% | 11.37% | 17.06% | -9.31% | 28.12% | 5.81% | 22.81% | -12.24% | 11.80% |
Returns By Period
In the year-to-date period, VIOV achieves a 4.51% return, which is significantly higher than VSIIX's 0.79% return. Both investments have delivered pretty close results over the past 10 years, with VIOV having a 9.51% annualized return and VSIIX not far ahead at 9.85%.
VIOV
- 1D
- 2.29%
- 1M
- -3.16%
- YTD
- 4.51%
- 6M
- 7.88%
- 1Y
- 23.53%
- 3Y*
- 10.24%
- 5Y*
- 4.95%
- 10Y*
- 9.51%
VSIIX
- 1D
- -0.41%
- 1M
- -7.11%
- YTD
- 0.79%
- 6M
- 2.85%
- 1Y
- 16.28%
- 3Y*
- 12.52%
- 5Y*
- 7.36%
- 10Y*
- 9.85%
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VIOV vs. VSIIX - Expense Ratio Comparison
VIOV has a 0.10% expense ratio, which is higher than VSIIX's 0.06% 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%.
Return for Risk
VIOV vs. VSIIX — Risk / Return Rank
VIOV
VSIIX
VIOV vs. VSIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). 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.
| VIOV | VSIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.82 | +0.18 |
Sortino ratioReturn per unit of downside risk | 1.52 | 1.28 | +0.25 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.04 | +0.51 |
Martin ratioReturn relative to average drawdown | 5.79 | 4.29 | +1.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VIOV | VSIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 0.82 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.37 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.45 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.42 | +0.08 |
Correlation
The correlation between VIOV and VSIIX is 0.92, 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
VIOV vs. VSIIX - Dividend Comparison
VIOV's dividend yield for the trailing twelve months is around 1.76%, less than VSIIX's 1.96% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 1.76% | 1.69% | 1.78% | 2.18% | 1.81% | 1.59% | 1.42% | 1.60% | 1.76% | 1.43% | 1.17% | 1.32% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 1.96% | 1.96% | 1.99% | 2.10% | 2.04% | 1.76% | 1.69% | 2.07% | 2.36% | 1.80% | 1.77% | 1.99% |
Drawdowns
VIOV vs. VSIIX - Drawdown Comparison
The maximum VIOV drawdown since its inception was -47.36%, smaller than the maximum VSIIX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for VIOV and VSIIX.
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Drawdown Indicators
| VIOV | VSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.36% | -62.05% | +14.69% |
Max Drawdown (1Y)Largest decline over 1 year | -15.50% | -14.16% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -28.44% | -24.09% | -4.35% |
Max Drawdown (10Y)Largest decline over 10 years | -47.36% | -45.38% | -1.98% |
Current DrawdownCurrent decline from peak | -6.21% | -8.24% | +2.03% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -8.57% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 3.42% | +0.72% |
Volatility
VIOV vs. VSIIX - Volatility Comparison
Vanguard S&P Small-Cap 600 Value ETF (VIOV) has a higher volatility of 5.42% compared to Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) at 4.89%. This indicates that VIOV's price experiences larger fluctuations and is considered to be riskier than VSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIOV | VSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 4.89% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 11.02% | +2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.66% | 20.61% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.11% | 19.83% | +2.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.90% | 21.81% | +2.09% |