VMVAX vs. VOE
Compare and contrast key facts about Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) and Vanguard Mid-Cap Value ETF (VOE).
VMVAX is managed by Vanguard. It was launched on Sep 27, 2011. VOE is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Value Index. It was launched on Aug 17, 2006.
Performance
VMVAX vs. VOE - Performance Comparison
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VMVAX vs. VOE - 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% |
VOE Vanguard Mid-Cap Value ETF | 4.67% | 12.08% | 14.00% | 9.85% | -7.97% | 28.78% | 2.65% | 27.85% | -12.48% | 17.07% |
Returns By Period
The year-to-date returns for both investments are quite close, with VMVAX having a 4.50% return and VOE slightly higher at 4.67%. Both investments have delivered pretty close results over the past 10 years, with VMVAX having a 10.19% annualized return and VOE not far ahead at 10.23%.
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%
VOE
- 1D
- 0.20%
- 1M
- -4.46%
- YTD
- 4.67%
- 6M
- 7.17%
- 1Y
- 17.39%
- 3Y*
- 13.81%
- 5Y*
- 8.66%
- 10Y*
- 10.23%
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VMVAX vs. VOE - Expense Ratio Comparison
Both VMVAX and VOE have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
VMVAX vs. VOE — Risk / Return Rank
VMVAX
VOE
VMVAX vs. VOE - 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 Value ETF (VOE). 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 | VOE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 1.06 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.54 | 1.55 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.41 | +0.07 |
Martin ratioReturn relative to average drawdown | 6.86 | 6.51 | +0.35 |
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 | VOE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.06 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.54 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.54 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.43 | +0.25 |
Correlation
The correlation between VMVAX and VOE is 1.00, 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. VOE - Dividend Comparison
VMVAX's dividend yield for the trailing twelve months is around 1.99%, which matches VOE's 1.99% 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% |
VOE Vanguard Mid-Cap Value ETF | 1.99% | 2.10% | 2.11% | 2.27% | 2.27% | 1.78% | 2.36% | 2.05% | 2.75% | 1.86% | 1.92% | 2.05% |
Drawdowns
VMVAX vs. VOE - Drawdown Comparison
The maximum VMVAX drawdown since its inception was -43.07%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for VMVAX and VOE.
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Drawdown Indicators
| VMVAX | VOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.07% | -61.50% | +18.43% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -12.42% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -19.70% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -43.07% | -43.18% | +0.11% |
Current DrawdownCurrent decline from peak | -4.72% | -4.54% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -8.41% | +4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.68% | -0.01% |
Volatility
VMVAX vs. VOE - Volatility Comparison
Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) has a higher volatility of 4.24% compared to Vanguard Mid-Cap Value ETF (VOE) at 4.01%. This indicates that VMVAX's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVAX | VOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.01% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.75% | 8.77% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 16.46% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 16.11% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 18.84% | -0.04% |