VMVAX vs. VO
Compare and contrast key facts about Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) and Vanguard Mid-Cap ETF (VO).
VMVAX is managed by Vanguard. It was launched on Sep 27, 2011. VO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Index. It was launched on Jan 26, 2004.
Performance
VMVAX vs. VO - Performance Comparison
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VMVAX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 4.50% | 12.06% | 13.63% | 10.12% | -7.89% | 28.77% | 2.45% | 28.03% | -12.44% | 17.04% |
VO Vanguard Mid-Cap ETF | -0.05% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Returns By Period
In the year-to-date period, VMVAX achieves a 4.50% return, which is significantly higher than VO's -0.05% return. Over the past 10 years, VMVAX has underperformed VO with an annualized return of 10.19%, while VO has yielded a comparatively higher 10.74% annualized return.
VMVAX
- 1D
- 1.57%
- 1M
- -4.65%
- YTD
- 4.50%
- 6M
- 6.96%
- 1Y
- 17.12%
- 3Y*
- 13.73%
- 5Y*
- 8.62%
- 10Y*
- 10.19%
VO
- 1D
- 0.63%
- 1M
- -5.18%
- YTD
- -0.05%
- 6M
- -0.76%
- 1Y
- 13.07%
- 3Y*
- 12.85%
- 5Y*
- 6.79%
- 10Y*
- 10.74%
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VMVAX vs. VO - Expense Ratio Comparison
VMVAX has a 0.07% expense ratio, which is higher than VO'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%.
Return for Risk
VMVAX vs. VO — Risk / Return Rank
VMVAX
VO
VMVAX vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) and Vanguard Mid-Cap ETF (VO). 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.
| VMVAX | VO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 0.75 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.54 | 1.15 | +0.40 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.16 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.06 | +0.42 |
Martin ratioReturn relative to average drawdown | 6.86 | 4.83 | +2.04 |
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
| VMVAX | VO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 0.75 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.39 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.57 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.48 | +0.19 |
Correlation
The correlation between VMVAX and VO is 0.94, 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
VMVAX vs. VO - Dividend Comparison
VMVAX's dividend yield for the trailing twelve months is around 1.99%, more than VO's 1.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 1.99% | 2.10% | 2.11% | 2.26% | 2.27% | 1.78% | 2.36% | 2.08% | 2.75% | 1.86% | 1.91% | 2.04% |
VO Vanguard Mid-Cap ETF | 1.50% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Drawdowns
VMVAX vs. VO - Drawdown Comparison
The maximum VMVAX drawdown since its inception was -43.07%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for VMVAX and VO.
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Drawdown Indicators
| VMVAX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.07% | -58.87% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -12.74% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -27.57% | +7.82% |
Max Drawdown (10Y)Largest decline over 10 years | -43.07% | -39.37% | -3.70% |
Current DrawdownCurrent decline from peak | -4.72% | -5.53% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -7.91% | +3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.79% | -0.12% |
Volatility
VMVAX vs. VO - Volatility Comparison
The current volatility for Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) is 4.24%, while Vanguard Mid-Cap ETF (VO) has a volatility of 4.83%. This indicates that VMVAX experiences smaller price fluctuations and is considered to be less risky than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVAX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.83% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 8.75% | 9.73% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 17.57% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 17.61% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 18.94% | -0.14% |