VOE vs. DFUVX
VOE (Vanguard Mid-Cap Value ETF) and DFUVX (DFA U.S. Large Cap Value III Portfolio) are both funds - VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while DFUVX is a Large Cap Value Equities fund managed by Dimensional. Over the past 10 years, VOE returned 10.72%/yr vs 11.03%/yr for DFUVX. Their correlation of 0.95 suggests significant overlap in exposure. VOE charges 0.05%/yr vs 0.14%/yr for DFUVX.
Performance
VOE vs. DFUVX - Performance Comparison
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Returns By Period
In the year-to-date period, VOE achieves a 15.84% return, which is significantly lower than DFUVX's 17.07% return. Both investments have delivered pretty close results over the past 10 years, with VOE having a 10.72% annualized return and DFUVX not far ahead at 11.03%.
VOE
- 1D
- 1.14%
- 1M
- 2.56%
- 6M
- 10.70%
- YTD
- 15.84%
- 1Y
- 25.42%
- 3Y*
- 15.44%
- 5Y*
- 10.46%
- 10Y*
- 10.72%
DFUVX
- 1D
- -0.38%
- 1M
- 0.08%
- 6M
- 12.67%
- YTD
- 17.07%
- 1Y
- 29.89%
- 3Y*
- 17.79%
- 5Y*
- 10.90%
- 10Y*
- 11.03%
VOE vs. DFUVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOE Vanguard Mid-Cap Value ETF | 15.84% | 12.08% | 14.00% | 9.85% | -7.97% | 28.78% | 2.65% | 27.85% | -12.48% | 17.07% |
DFUVX DFA U.S. Large Cap Value III Portfolio | 17.07% | 15.83% | 12.87% | 11.65% | -5.73% | 22.75% | -0.45% | 25.62% | -11.58% | 18.60% |
Correlation
The correlation between VOE and DFUVX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2006 | 0.95 |
The correlation between VOE and DFUVX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
VOE vs. DFUVX — Risk / Return Rank
VOE
DFUVX
VOE vs. DFUVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) and DFA U.S. Large Cap Value III Portfolio (DFUVX). 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 | DFUVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.48 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.69 | 5.25 | -1.56 |
| Martin ratioReturn relative to average drawdown | 14.02 | 19.17 | -5.15 |
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Drawdowns
VOE vs. DFUVX - Drawdown Comparison
The maximum VOE drawdown since its inception was -61.50%, smaller than the maximum DFUVX drawdown of -65.60%. Use the drawdown chart below to compare losses from any high point for VOE and DFUVX.
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Drawdown Indicators
| VOE | DFUVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.50% | -65.60% | +4.10% |
Max Drawdown (1Y)Largest decline over 1 year | -6.93% | -5.85% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -18.45% | -17.04% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -20.33% | +0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -43.18% | -41.76% | -1.42% |
Current DrawdownCurrent decline from peak | 0.00% | -0.38% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -9.81% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 1.60% | +0.22% |
Volatility
VOE vs. DFUVX - Volatility Comparison
Vanguard Mid-Cap Value ETF (VOE) has a higher volatility of 2.91% compared to DFA U.S. Large Cap Value III Portfolio (DFUVX) at 2.58%. This indicates that VOE's price experiences larger fluctuations and is considered to be riskier than DFUVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOE | DFUVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 2.58% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 8.27% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 11.32% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.96% | 15.89% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.73% | 18.31% | +0.42% |
VOE vs. DFUVX - Expense Ratio Comparison
VOE has a 0.05% expense ratio, which is lower than DFUVX's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VOE vs. DFUVX - Dividend Comparison
VOE's dividend yield for the trailing twelve months is around 1.83%, more than DFUVX's 1.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFUVX DFA U.S. Large Cap Value III Portfolio | 1.51% | 1.31% | 1.94% | 5.68% | 5.84% | 1.77% | 2.09% | 5.04% | 9.79% | 7.99% | 4.90% | 8.03% |
VOE Vanguard Mid-Cap Value ETF | 1.83% | 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
VOE and DFUVX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOE has higher volatility (2.91%) compared to DFUVX (2.58%). In terms of maximum drawdown, VOE dropped -61.50% vs DFUVX's -65.60%.
DFUVX currently has the higher Sharpe Ratio (2.74 vs 2.23), 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.
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