VOE vs. JPM

Last updated Jun 9, 2026

VOE (Vanguard Mid-Cap Value ETF) is Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 10 years, VOE returned 10.54%/yr vs 20.32%/yr for JPM. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

VOE vs. JPM - Performance Comparison

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

Returns By Period

In the year-to-date period, VOE achieves a 10.52% return, which is significantly higher than JPM's -2.52% return. Over the past 10 years, VOE has underperformed JPM with an annualized return of 10.54%, while JPM has yielded a comparatively higher 20.32% annualized return.

VOE

• 1D: -0.22%
• 1M: 1.68%
• YTD: 10.52%
• 6M: 11.54%
• 1Y: 22.48%
• 3Y*: 15.80%
• 5Y*: 8.50%
• 10Y*: 10.54%

JPM

• 1D: -0.40%
• 1M: 2.98%
• YTD: -2.52%
• 6M: -0.35%
• 1Y: 19.35%
• 3Y*: 33.18%
• 5Y*: 16.72%
• 10Y*: 20.32%

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

VOE vs. JPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VOE Vanguard Mid-Cap Value ETF	10.52%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%
JPM JPMorgan Chase & Co.	-2.52%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%

Correlation

The correlation between VOE and JPM is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.59
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	0.71

The correlation between VOE and JPM shifts across timeframes, from 0.54 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VOE vs. JPM — Risk / Return Rank

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

VOE

VOE Risk / Return Rank: 68
VOE Sharpe Ratio Rank: 66
VOE Sortino Ratio Rank: 70
VOE Omega Ratio Rank: 63
VOE Calmar Ratio Rank: 71
VOE Martin Ratio Rank: 73

JPM

JPM Risk / Return Rank: 66
JPM Sharpe Ratio Rank: 70
JPM Sortino Ratio Rank: 62
JPM Omega Ratio Rank: 62
JPM Calmar Ratio Rank: 66
JPM Martin Ratio Rank: 67

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. JPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) and JPMorgan Chase & Co. (JPM). 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.

	VOE	JPM	Difference
Sharpe ratio: Return per unit of total volatility	1.97	0.90	+1.07
Sortino ratio: Return per unit of downside risk	2.84	1.30	+1.54
Omega ratio: Gain probability vs. loss probability	1.34	1.17	+0.18
Calmar ratio: Return relative to maximum drawdown	3.26	1.26	+2.00
Martin ratio: Return relative to average drawdown	12.35	2.98	+9.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOE vs. JPM - Sharpe Ratio Comparison

The current VOE Sharpe Ratio is 1.97, which is higher than the JPM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of VOE and JPM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VOE	JPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	0.90	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.69	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.74	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.34	+0.10

Drawdowns

VOE vs. JPM - Drawdown Comparison

The maximum VOE drawdown since its inception was -61.50%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for VOE and JPM.

Drawdown Indicators

	VOE	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-61.50%	-76.16%	+14.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-15.47%	+8.54%
Max Drawdown (3Y) Largest decline over 3 years	-18.45%	-24.42%	+5.97%
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	-38.77%	+19.07%
Max Drawdown (10Y) Largest decline over 10 years	-43.18%	-43.63%	+0.45%
Current Drawdown Current decline from peak	-1.12%	-6.55%	+5.43%
Average Drawdown Average peak-to-trough decline	-8.35%	-17.62%	+9.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	6.50%	-4.68%

Volatility

VOE vs. JPM - Volatility Comparison

The current volatility for Vanguard Mid-Cap Value ETF (VOE) is 2.55%, while JPMorgan Chase & Co. (JPM) has a volatility of 6.40%. This indicates that VOE experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VOE	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	6.40%	-3.85%
Volatility (6M) Calculated over the trailing 6-month period	8.20%	17.38%	-9.18%
Volatility (1Y) Calculated over the trailing 1-year period	11.51%	21.62%	-10.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	24.45%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	27.40%	-8.57%

Dividends

VOE vs. JPM - Dividend Comparison

VOE's dividend yield for the trailing twelve months is around 1.88%, less than JPM's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPM JPMorgan Chase & Co.	1.90%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%
VOE Vanguard Mid-Cap Value ETF	1.88%	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 JPM in my portfolio?

VOE and JPM have a correlation of 0.54, 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 JPM?

JPM has higher volatility (6.40%) compared to VOE (2.55%). In terms of maximum drawdown, VOE dropped -61.50% vs JPM's -76.16%.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (1.97 vs 0.90), 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.