VONV vs. VMAX

Last updated Jun 24, 2026

VONV (Vanguard Russell 1000 Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. VONV is passively managed, while VMAX is actively managed. Over the past year, VONV returned 28.31% vs 29.63% for VMAX. Their correlation of 0.93 suggests significant overlap in exposure. VONV charges 0.06%/yr vs 0.29%/yr for VMAX.

Performance

VONV vs. VMAX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VONV having a 15.40% return and VMAX slightly higher at 15.44%.

VONV

• 1D: -1.08%
• 1M: 2.29%
• YTD: 15.40%
• 6M: 14.70%
• 1Y: 28.31%
• 3Y*: 18.58%
• 5Y*: 11.00%
• 10Y*: 11.72%

VMAX

• 1D: -0.08%
• 1M: 3.05%
• YTD: 15.44%
• 6M: 14.38%
• 1Y: 29.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VONV vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VONV Vanguard Russell 1000 Value ETF	15.40%	15.81%	14.28%	5.23%
VMAX Hartford US Value ETF	15.44%	15.65%	15.89%	5.71%

Correlation

The correlation between VONV and VMAX is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.93

The correlation between VONV and VMAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

VONV vs. VMAX - Sectors Allocation Comparison

Sectors	VONV	VMAX
Financial Services	18.9%	32.4%
Technology	14.9%	13.3%
Industrials	13.1%	5.5%
Healthcare	10.9%	11.1%
Communication Services	8.5%	6.6%
Consumer Cyclical	7.3%	3.7%
Consumer Defensive	7.2%	3.7%
Energy	7.0%	11.0%
Utilities	4.4%	5.3%
Real Estate	4.1%	4.4%
Basic Materials	3.8%	2.8%

Return for Risk

VONV vs. VMAX — Risk / Return Rank

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

VONV

VONV Risk / Return Rank: 83
VONV Sharpe Ratio Rank: 82
VONV Sortino Ratio Rank: 84
VONV Omega Ratio Rank: 80
VONV Calmar Ratio Rank: 82
VONV Martin Ratio Rank: 86

VMAX

VMAX Risk / Return Rank: 85
VMAX Sharpe Ratio Rank: 81
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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.

VONV vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Value ETF (VONV) and Hartford US Value ETF (VMAX). 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.

	VONV	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.42	+0.10
Sortino ratio: Return per unit of downside risk	3.53	3.30	+0.23
Omega ratio: Gain probability vs. loss probability	1.45	1.42	+0.03
Calmar ratio: Return relative to maximum drawdown	4.17	6.04	-1.86
Martin ratio: Return relative to average drawdown	17.35	21.18	-3.83

VONV vs. VMAX - Sharpe Ratio Comparison

The current VONV Sharpe Ratio is 2.52, which is comparable to the VMAX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of VONV and VMAX, 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

VONV vs. VMAX - Drawdown Comparison

The maximum VONV drawdown since its inception was -38.21%, which is greater than VMAX's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for VONV and VMAX.

Drawdown Indicators

	VONV	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-38.21%	-19.05%	-19.16%
Max Drawdown (1Y) Largest decline over 1 year	-6.81%	-4.93%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-15.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.21%	—	—
Current Drawdown Current decline from peak	-1.15%	-0.39%	-0.76%
Average Drawdown Average peak-to-trough decline	-3.90%	-2.52%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.40%	+0.24%

Volatility

VONV vs. VMAX - Volatility Comparison

Vanguard Russell 1000 Value ETF (VONV) has a higher volatility of 4.13% compared to Hartford US Value ETF (VMAX) at 3.17%. This indicates that VONV's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VONV	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	3.17%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	8.83%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.30%	12.31%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	15.41%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.23%	15.41%	+1.82%

VONV vs. VMAX - Expense Ratio Comparison

VONV has a 0.06% expense ratio, which is lower than VMAX's 0.29% expense ratio.

Dividends

VONV vs. VMAX - Dividend Comparison

VONV's dividend yield for the trailing twelve months is around 1.63%, less than VMAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMAX Hartford US Value ETF	1.85%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VONV Vanguard Russell 1000 Value ETF	1.63%	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

Can I hold both VONV and VMAX in my portfolio?

With a correlation of 0.91, VONV and VMAX 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.

Which is riskier, VONV or VMAX?

VONV has higher volatility (4.13%) compared to VMAX (3.17%). In terms of maximum drawdown, VONV dropped -38.21% vs VMAX's -19.05%.

Which ETF is better, VONV or VMAX?

On 1-year performance, VMAX leads with 29.63% vs 28.31% for VONV. On fees, VONV is cheaper at 0.06% per year. On volatility, VMAX has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VONV or VMAX?

Over the 1-year period, VMAX has performed better with a 29.63% return vs 28.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VONV or VMAX?

VONV is cheaper with a 0.06% expense ratio, compared with 0.29% for VMAX.

Which ETF pays a higher dividend yield, VONV or VMAX?

VMAX has the higher dividend yield at 1.85%, compared with 1.63% for VONV.

What is the main difference between VONV and VMAX?

They also come from different issuers: Vanguard and Hartford. Their fees differ too: 0.06% for VONV and 0.29% for VMAX.

Which has better risk-adjusted returns?

VONV currently has the higher Sharpe Ratio (2.52 vs 2.42), 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.