VOE vs. VBR
Compare and contrast key facts about Vanguard Mid-Cap Value ETF (VOE) and Vanguard Small-Cap Value ETF (VBR).
VOE and VBR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. VBR is a passively managed fund by Vanguard that tracks the performance of the CRSP US Small Cap Value Index. It was launched on Jan 26, 2004. Both VOE and VBR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VOE vs. VBR - Performance Comparison
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VOE vs. VBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBR Vanguard Small-Cap Value ETF | 3.59% | 9.09% | 12.40% | 16.00% | -9.38% | 28.08% | 5.90% | 22.78% | -12.28% | 11.81% |
Returns By Period
In the year-to-date period, VOE achieves a 4.67% return, which is significantly higher than VBR's 3.59% return. Both investments have delivered pretty close results over the past 10 years, with VOE having a 10.23% annualized return and VBR not far behind at 10.14%.
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%
VBR
- 1D
- 0.41%
- 1M
- -4.79%
- YTD
- 3.59%
- 6M
- 5.25%
- 1Y
- 19.13%
- 3Y*
- 13.58%
- 5Y*
- 7.64%
- 10Y*
- 10.14%
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VOE vs. VBR - Expense Ratio Comparison
Both VOE and VBR 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
VOE vs. VBR — Risk / Return Rank
VOE
VBR
VOE vs. VBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) and Vanguard Small-Cap Value ETF (VBR). 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 | VBR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 0.93 | +0.13 |
Sortino ratioReturn per unit of downside risk | 1.55 | 1.43 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.37 | +0.04 |
Martin ratioReturn relative to average drawdown | 6.51 | 5.62 | +0.89 |
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
| VOE | VBR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 0.93 | +0.13 |
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 | 0.47 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.40 | +0.03 |
Correlation
The correlation between VOE and VBR is 0.95, 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
VOE vs. VBR - Dividend Comparison
VOE's dividend yield for the trailing twelve months is around 1.99%, more than VBR's 1.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBR Vanguard Small-Cap Value ETF | 1.90% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
Drawdowns
VOE vs. VBR - Drawdown Comparison
The maximum VOE drawdown since its inception was -61.50%, roughly equal to the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for VOE and VBR.
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Drawdown Indicators
| VOE | VBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.50% | -61.98% | +0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -14.18% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | -24.19% | +4.49% |
Max Drawdown (10Y)Largest decline over 10 years | -43.18% | -45.28% | +2.10% |
Current DrawdownCurrent decline from peak | -4.54% | -5.75% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -8.32% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 3.46% | -0.78% |
Volatility
VOE vs. VBR - Volatility Comparison
The current volatility for Vanguard Mid-Cap Value ETF (VOE) is 4.01%, while Vanguard Small-Cap Value ETF (VBR) has a volatility of 5.40%. This indicates that VOE experiences smaller price fluctuations and is considered to be less risky than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOE | VBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 5.40% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 11.29% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.46% | 20.64% | -4.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 19.85% | -3.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 21.73% | -2.89% |