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VONV vs. IWX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VONV vs. IWX

Last updated Aug 2, 2026
Documentation

VONV (Vanguard Russell 1000 Value ETF) and IWX (iShares Russell Top 200 Value ETF) are both Large Cap Value Equities funds - VONV tracks the Russell 1000 Value Index while IWX tracks the Russell Top 200 Value Index. Both are passively managed. Over the past 10 years, VONV returned 11.68%/yr vs 12.13%/yr for IWX. Their 0.96 correlation means they have historically moved very closely together. VONV charges 0.06%/yr vs 0.20%/yr for IWX.

Performance

VONV vs. IWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Value ETF (VONV) and iShares Russell Top 200 Value ETF (IWX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with VONV having a 20.63% return and IWX slightly higher at 20.90%. Both investments have delivered pretty close results over the past 10 years, with VONV having a 11.68% annualized return and IWX not far ahead at 12.13%.

VONV

1D
0.38%
1M
2.02%
6M
15.40%
YTD
20.63%
1Y
32.99%
3Y*
17.97%
5Y*
11.77%
10Y*
11.68%
ALL TIME*
12.10%

IWX

1D
0.74%
1M
2.59%
6M
15.57%
YTD
20.90%
1Y
34.92%
3Y*
18.98%
5Y*
12.65%
10Y*
12.13%
ALL TIME*
11.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWX

iShares Russell Top 200 Value ETF
$55.11M$49.72M$33.93M

VONV

Vanguard Russell 1000 Value ETF
$67.85M$88.58M$94.83M

VONV vs. IWX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VONV
Vanguard Russell 1000 Value ETF		20.63%15.81%14.28%11.40%-7.65%25.28%2.71%26.48%-8.45%13.59%
IWX
iShares Russell Top 200 Value ETF		20.90%18.23%14.89%10.45%-5.33%23.33%1.46%25.82%-6.53%14.05%

Correlation

The correlation between VONV and IWX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.98

Correlation (3Y)
Balances recent behavior with more history.

0.98

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.98

Correlation (10Y)
Provides a long-term view across more market conditions.

0.97

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2010

0.96

The correlation between VONV and IWX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

VONV vs. IWX - Sectors Allocation Comparison

Sectors
VONV
IWX

Technology

19.9%
22.6%

Financial Services

18.6%
20.0%

Healthcare

12.7%
13.6%

Consumer Cyclical

10.9%
11.6%

Industrials

10.5%
8.3%

Consumer Defensive

7.5%
8.2%

Energy

5.5%
5.1%

Utilities

3.9%
2.6%

Real Estate

3.8%
1.8%

Basic Materials

3.4%
2.8%

Communication Services

3.3%
3.5%

Technology

VONV
19.9%
IWX
22.6%

Financial Services

VONV
18.6%
IWX
20.0%

Healthcare

VONV
12.7%
IWX
13.6%

Consumer Cyclical

VONV
10.9%
IWX
11.6%

Industrials

VONV
10.5%
IWX
8.3%

Consumer Defensive

VONV
7.5%
IWX
8.2%

Energy

VONV
5.5%
IWX
5.1%

Utilities

VONV
3.9%
IWX
2.6%

Real Estate

VONV
3.8%
IWX
1.8%

Basic Materials

VONV
3.4%
IWX
2.8%

Communication Services

VONV
3.3%
IWX
3.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Russell 1000 Value ETF

iShares Russell Top 200 Value ETF

Often compared with VONV:
VONV vs. VONGVONV vs. VOOVONV vs. IWDVONV vs. VONEVONV vs. RPVVONV vs. VOEVONV vs. VTI
Often compared with IWX:
IWX vs. IWNIWX vs. IWYIWX vs. IWCIWX vs. IWFIWX vs. XLPIWX vs. QQQIWX vs. SPYV

Return for Risk

VONV vs. IWX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VONV
VONV Risk / Return Rank: 9494
Overall Rank
VONV Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
VONV Sortino Ratio Rank: 9494
Sortino Ratio Rank
VONV Omega Ratio Rank: 9494
Omega Ratio Rank
VONV Calmar Ratio Rank: 9393
Calmar Ratio Rank
VONV Martin Ratio Rank: 9595
Martin Ratio Rank
IWX
IWX Risk / Return Rank: 9595
Overall Rank
IWX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
IWX Sortino Ratio Rank: 9696
Sortino Ratio Rank
IWX Omega Ratio Rank: 9595
Omega Ratio Rank
IWX Calmar Ratio Rank: 9595
Calmar Ratio Rank
IWX Martin Ratio Rank: 9696
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VONV vs. IWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Value ETF (VONV) and iShares Russell Top 200 Value ETF (IWX). 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.

VONVIWXDifference
Sharpe ratioReturn per unit of total volatility
2.75
3.10

-0.35

Sortino ratioReturn per unit of downside risk
3.83
4.28

-0.45

Omega ratioGain probability vs. loss probability

1.49

1.55

-0.06

Calmar ratioReturn relative to maximum drawdown

4.58

5.05

-0.47

Martin ratioReturn relative to average drawdown

19.65

22.22

-2.56

VONV vs. IWX - Sharpe Ratio Comparison

The current VONV Sharpe Ratio is 2.75, which is comparable to the IWX Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of VONV and IWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VONV vs. IWX - Drawdown Comparison

The maximum VONV drawdown since its inception was -38.21%, which is greater than IWX's maximum drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for VONV and IWX.

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Drawdown Indicators

VONVIWXDifference

Max Drawdown

Largest peak-to-trough decline

-38.21%

-35.76%

-2.45%

Max Drawdown (1Y)

Largest decline over 1 year

-6.81%

-6.59%

-0.22%

Max Drawdown (3Y)

Largest decline over 3 years

-15.70%

-13.37%

-2.33%

Max Drawdown (5Y)

Largest decline over 5 years

-18.87%

-18.13%

-0.74%

Max Drawdown (10Y)

Largest decline over 10 years

-38.21%

-35.76%

-2.45%

Current Drawdown

Current decline from peak

-0.07%

0.00%

-0.07%

Average Drawdown

Average peak-to-trough decline

-3.87%

-3.79%

-0.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.59%

1.50%

+0.09%

Volatility

VONV vs. IWX - Volatility Comparison

The current volatility for Vanguard Russell 1000 Value ETF (VONV) is 2.84%, while iShares Russell Top 200 Value ETF (IWX) has a volatility of 3.10%. This indicates that VONV experiences smaller price fluctuations and is considered to be less risky than IWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VONVIWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.84%

3.10%

-0.26%

Volatility (6M)

Calculated over the trailing 6-month period

8.67%

8.46%

+0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

11.40%

10.81%

+0.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.77%

13.89%

+0.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.20%

16.48%

+0.72%

VONV vs. IWX - Expense Ratio Comparison

VONV has a 0.06% expense ratio, which is lower than IWX's 0.20% 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

VONV vs. IWX - Dividend Comparison

VONV's dividend yield for the trailing twelve months is around 1.56%, more than IWX's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
IWX
iShares Russell Top 200 Value ETF		1.39%1.59%1.97%2.13%2.07%1.79%2.12%2.60%2.66%2.12%2.22%2.77%
VONV
Vanguard Russell 1000 Value ETF		1.56%1.82%1.97%2.10%2.22%1.67%2.25%2.30%2.56%2.18%2.39%2.38%

Frequently Asked Questions

With a correlation of 0.98, VONV and IWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IWX has higher volatility (3.10%) compared to VONV (2.84%). In terms of maximum drawdown, VONV dropped -38.21% vs IWX's -35.76%.

On 10-year performance, IWX leads with 12.13% vs 11.68% for VONV. On fees, VONV is cheaper at 0.06% per year. On volatility, VONV has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWX has performed better with a 12.13% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VONV is cheaper with a 0.06% expense ratio, compared with 0.20% for IWX.

VONV has the higher dividend yield at 1.56%, compared with 1.39% for IWX.

VONV tracks Russell 1000 Value Index, while IWX tracks Russell Top 200 Value Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VONV and 0.20% for IWX.

IWX currently has the higher Sharpe Ratio (3.10 vs 2.75), 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.

Portfolio Optimizer

Find the right allocation for VONV and IWX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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