VOE vs. C

Last updated Jun 13, 2026

VOE (Vanguard Mid-Cap Value ETF) is Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while C (Citigroup Inc.) is a stock. Over the past 10 years, VOE returned 10.92%/yr vs 16.22%/yr for C. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

VOE vs. C - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Value ETF (VOE) and Citigroup Inc. (C). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VOE achieves a 12.81% return, which is significantly lower than C's 21.02% return. Over the past 10 years, VOE has underperformed C with an annualized return of 10.92%, while C has yielded a comparatively higher 16.22% annualized return.

VOE

• 1D: 1.10%
• 1M: 3.67%
• YTD: 12.81%
• 6M: 11.83%
• 1Y: 24.24%
• 3Y*: 16.04%
• 5Y*: 8.93%
• 10Y*: 10.92%

C

• 1D: 1.27%
• 1M: 12.68%
• YTD: 21.02%
• 6M: 26.32%
• 1Y: 82.79%
• 3Y*: 46.87%
• 5Y*: 16.80%
• 10Y*: 16.22%

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

VOE vs. C - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOE Vanguard Mid-Cap Value ETF	12.81%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%
C Citigroup Inc.	21.02%	70.38%	41.93%	18.98%	-22.09%	0.93%	-19.70%	57.82%	-28.49%	27.03%

Correlation

The correlation between VOE and C is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Aug 25, 2006	0.69

The correlation between VOE and C shifts across timeframes, from 0.52 (1 year) to 0.69 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

VOE vs. C — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 77
VOE Sharpe Ratio Rank: 76
VOE Sortino Ratio Rank: 78
VOE Omega Ratio Rank: 72
VOE Calmar Ratio Rank: 78
VOE Martin Ratio Rank: 79

C

C Risk / Return Rank: 94
C Sharpe Ratio Rank: 95
C Sortino Ratio Rank: 94
C Omega Ratio Rank: 92
C Calmar Ratio Rank: 94
C Martin Ratio Rank: 94

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.

VOE vs. C - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) and Citigroup Inc. (C). 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.

	VOE	C	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.93	-0.84
Sortino ratio: Return per unit of downside risk	3.01	3.57	-0.55
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.09
Calmar ratio: Return relative to maximum drawdown	3.52	5.64	-2.12
Martin ratio: Return relative to average drawdown	13.34	16.25	-2.91

VOE vs. C - Sharpe Ratio Comparison

The current VOE Sharpe Ratio is 2.10, which is comparable to the C Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of VOE and C, 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

VOE vs. C - Drawdown Comparison

The maximum VOE drawdown since its inception was -61.50%, smaller than the maximum C drawdown of -98.00%. Use the drawdown chart below to compare losses from any high point for VOE and C.

Drawdown Indicators

	VOE	C	Difference
Max Drawdown Largest peak-to-trough decline	-61.50%	-98.00%	+36.50%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-14.76%	+7.83%
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	-31.31%	+12.86%
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	-44.53%	+24.83%
Max Drawdown (10Y) Largest decline over 10 years	-43.18%	-56.51%	+13.33%
Current Drawdown Current decline from peak	0.00%	-62.68%	+62.68%
Average Drawdown Average peak-to-trough decline	-8.34%	-43.51%	+35.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	5.12%	-3.29%

Volatility

VOE vs. C - Volatility Comparison

The current volatility for Vanguard Mid-Cap Value ETF (VOE) is 3.19%, while Citigroup Inc. (C) has a volatility of 8.30%. This indicates that VOE experiences smaller price fluctuations and is considered to be less risky than C based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOE	C	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	8.30%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	23.09%	-14.79%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	28.37%	-16.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	29.20%	-13.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	33.23%	-14.40%

Dividends

VOE vs. C - Dividend Comparison

VOE's dividend yield for the trailing twelve months is around 1.84%, more than C's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
C Citigroup Inc.	1.72%	1.99%	3.10%	4.04%	4.51%	3.38%	3.31%	2.40%	2.96%	1.29%	0.71%	0.31%
VOE Vanguard Mid-Cap Value ETF	1.84%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both VOE and C in my portfolio?

VOE and C have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VOE or C?

C has higher volatility (8.30%) compared to VOE (3.19%). In terms of maximum drawdown, VOE dropped -61.50% vs C's -98.00%.

Which has better risk-adjusted returns?

C currently has the higher Sharpe Ratio (2.93 vs 2.10), 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.