VOOV vs. VOX
VOOV (Vanguard S&P 500 Value ETF) and VOX (Vanguard Communication Services ETF) are both exchange-traded funds - VOOV is a Large Cap Value Equities fund tracking the S&P 500 Value Index, while VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index. Both are passively managed. Over the past 10 years, VOOV returned 12.14%/yr vs 8.39%/yr for VOX. A 0.67 correlation means they provide meaningful diversification when combined. VOOV charges 0.07%/yr vs 0.09%/yr for VOX.
Performance
VOOV vs. VOX - Performance Comparison
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Returns By Period
In the year-to-date period, VOOV achieves a 7.89% return, which is significantly higher than VOX's -5.59% return. Over the past 10 years, VOOV has outperformed VOX with an annualized return of 12.14%, while VOX has yielded a comparatively lower 8.39% annualized return.
VOOV
- 1D
- 0.25%
- 1M
- -0.07%
- YTD
- 7.89%
- 6M
- 7.27%
- 1Y
- 21.39%
- 3Y*
- 15.29%
- 5Y*
- 11.39%
- 10Y*
- 12.14%
VOX
- 1D
- -2.41%
- 1M
- -6.74%
- YTD
- -5.59%
- 6M
- -5.26%
- 1Y
- 13.76%
- 3Y*
- 21.71%
- 5Y*
- 6.17%
- 10Y*
- 8.39%
VOOV vs. VOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOOV Vanguard S&P 500 Value ETF | 7.89% | 13.10% | 12.21% | 22.15% | -5.37% | 24.87% | 1.23% | 31.75% | -9.09% | 15.26% |
VOX Vanguard Communication Services ETF | -5.59% | 26.27% | 33.12% | 44.81% | -38.85% | 13.83% | 29.12% | 28.03% | -16.75% | -5.50% |
Correlation
The correlation between VOOV and VOX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.67 |
The correlation between VOOV and VOX shifts across timeframes, from 0.55 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VOOV vs. VOX — Risk / Return Rank
VOOV
VOX
VOOV vs. VOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Value ETF (VOOV) and Vanguard Communication Services ETF (VOX). 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.
| VOOV | VOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.16 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.02 | +2.41 |
| Martin ratioReturn relative to average drawdown | 13.00 | 3.65 | +9.36 |
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Drawdowns
VOOV vs. VOX - Drawdown Comparison
The maximum VOOV drawdown since its inception was -37.31%, smaller than the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for VOOV and VOX.
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Drawdown Indicators
| VOOV | VOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.31% | -57.18% | +19.87% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -13.56% | +7.29% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -21.15% | +3.60% |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | -46.76% | +28.66% |
Max Drawdown (10Y)Largest decline over 10 years | -37.31% | -46.76% | +9.45% |
Current DrawdownCurrent decline from peak | -0.92% | -8.76% | +7.84% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -11.90% | +8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 3.78% | -2.13% |
Volatility
VOOV vs. VOX - Volatility Comparison
The current volatility for Vanguard S&P 500 Value ETF (VOOV) is 2.94%, while Vanguard Communication Services ETF (VOX) has a volatility of 5.45%. This indicates that VOOV experiences smaller price fluctuations and is considered to be less risky than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOOV | VOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 5.45% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.36% | 11.94% | -4.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 15.83% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.44% | 21.24% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 20.94% | -3.98% |
VOOV vs. VOX - Expense Ratio Comparison
VOOV has a 0.07% expense ratio, which is lower than VOX's 0.09% 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
VOOV vs. VOX - Dividend Comparison
VOOV's dividend yield for the trailing twelve months is around 1.67%, more than VOX's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VOOV Vanguard S&P 500 Value ETF | 1.67% | 1.76% | 2.10% | 1.69% | 2.19% | 1.87% | 2.45% | 2.10% | 2.65% | 2.13% | 2.24% | 2.36% |
VOX Vanguard Communication Services ETF | 1.04% | 0.95% | 1.05% | 1.03% | 0.88% | 0.93% | 0.73% | 0.90% | 2.77% | 3.83% | 2.67% | 3.55% |
Frequently Asked Questions
VOOV and VOX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOX has higher volatility (5.45%) compared to VOOV (2.94%). In terms of maximum drawdown, VOOV dropped -37.31% vs VOX's -57.18%.
On 10-year performance, VOOV leads with 12.14% vs 8.39% for VOX. On fees, VOOV is cheaper at 0.07% per year. On volatility, VOOV has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOOV has performed better with a 12.14% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOOV is cheaper with a 0.07% expense ratio, compared with 0.09% for VOX.
VOOV has the higher dividend yield at 1.67%, compared with 1.04% for VOX.
VOOV is categorized as Large Cap Value Equities, while VOX is Communications Equities. VOOV tracks S&P 500 Value Index, while VOX tracks MSCI US Investable Market Communication Services 25/50 Index. Their fees differ too: 0.07% for VOOV and 0.09% for VOX.
VOOV currently has the higher Sharpe Ratio (2.16 vs 0.87), 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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