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VOX vs. IYZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VOX vs. IYZ

Last updated Jun 3, 2026

VOX (Vanguard Communication Services ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - VOX is a Technology Equities fund tracking the MSCI US Investable Market Telecommunication Services 25/50 Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, VOX returned 9.39%/yr vs 6.60%/yr for IYZ. Their correlation of 0.83 suggests significant overlap in exposure. VOX charges 0.10%/yr vs 0.42%/yr for IYZ.

Performance

VOX vs. IYZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Communication Services ETF (VOX) and iShares U.S. Telecommunications ETF (IYZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VOX achieves a -0.55% return, which is significantly lower than IYZ's 36.06% return. Over the past 10 years, VOX has outperformed IYZ with an annualized return of 9.39%, while IYZ has yielded a comparatively lower 6.60% annualized return.

VOX

1D
-1.40%
1M
-2.35%
YTD
-0.55%
6M
1.33%
1Y
21.06%
3Y*
24.37%
5Y*
7.98%
10Y*
9.39%

IYZ

1D
3.37%
1M
7.97%
YTD
36.06%
6M
43.18%
1Y
65.66%
3Y*
31.66%
5Y*
9.02%
10Y*
6.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VOX vs. IYZ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VOX
Vanguard Communication Services ETF		-0.55%26.27%33.12%44.81%-38.85%13.83%29.12%28.03%-16.75%-5.50%
IYZ
iShares U.S. Telecommunications ETF		36.06%29.28%20.53%3.90%-30.29%11.69%4.13%16.14%-8.59%-11.86%

Correlation

The correlation between VOX and IYZ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.73

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2004

0.83

Over the past year, the correlation between VOX and IYZ has dropped to 0.48 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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

Vanguard Communication Services ETF

iShares U.S. Telecommunications ETF

Often compared with VOX:
VOX vs. XLCVOX vs. VGTVOX vs. FCOMVOX vs. VOOVOX vs. XTLVOX vs. SPYVOX vs. QQQ
Often compared with IYZ:
IYZ vs. XTLIYZ vs. XLCIYZ vs. IXPIYZ vs. IYRIYZ vs. FBMPXIYZ vs. SPYIYZ vs. HDMV

Return for Risk

VOX vs. IYZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VOX
VOX Risk / Return Rank: 3737
Overall Rank
VOX Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
VOX Sortino Ratio Rank: 4040
Sortino Ratio Rank
VOX Omega Ratio Rank: 3737
Omega Ratio Rank
VOX Calmar Ratio Rank: 3232
Calmar Ratio Rank
VOX Martin Ratio Rank: 3939
Martin Ratio Rank
IYZ
IYZ Risk / Return Rank: 9595
Overall Rank
IYZ Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
IYZ Sortino Ratio Rank: 9494
Sortino Ratio Rank
IYZ Omega Ratio Rank: 9393
Omega Ratio Rank
IYZ Calmar Ratio Rank: 9797
Calmar Ratio Rank
IYZ Martin Ratio Rank: 9696
Martin Ratio Rank
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.

VOX vs. IYZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services ETF (VOX) and iShares U.S. Telecommunications ETF (IYZ). 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.

VOXIYZDifference

Sharpe ratio

Return per unit of total volatility

1.37

3.73

-2.36

Sortino ratio

Return per unit of downside risk

2.05

4.96

-2.91

Omega ratio

Gain probability vs. loss probability

1.24

1.65

-0.40

Calmar ratio

Return relative to maximum drawdown

1.61

10.71

-9.10

Martin ratio

Return relative to average drawdown

6.19

36.24

-30.06

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VOX vs. IYZ - Sharpe Ratio Comparison

The current VOX Sharpe Ratio is 1.37, which is lower than the IYZ Sharpe Ratio of 3.73. The chart below compares the historical Sharpe Ratios of VOX and IYZ, 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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Sharpe Ratios by Period

VOXIYZDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.37

3.73

-2.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

0.48

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.34

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.08

+0.36

Drawdowns

VOX vs. IYZ - Drawdown Comparison

The maximum VOX drawdown since its inception was -57.18%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for VOX and IYZ.

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Drawdown Indicators

VOXIYZDifference

Max Drawdown

Largest peak-to-trough decline

-57.18%

-77.11%

+19.93%

Max Drawdown (1Y)

Largest decline over 1 year

-13.56%

-6.30%

-7.26%

Max Drawdown (3Y)

Largest decline over 3 years

-21.15%

-13.85%

-7.30%

Max Drawdown (5Y)

Largest decline over 5 years

-46.76%

-39.74%

-7.02%

Max Drawdown (10Y)

Largest decline over 10 years

-46.76%

-39.74%

-7.02%

Current Drawdown

Current decline from peak

-3.89%

0.00%

-3.89%

Average Drawdown

Average peak-to-trough decline

-11.91%

-40.15%

+28.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.52%

1.86%

+1.66%

Volatility

VOX vs. IYZ - Volatility Comparison

The current volatility for Vanguard Communication Services ETF (VOX) is 4.18%, while iShares U.S. Telecommunications ETF (IYZ) has a volatility of 6.64%. This indicates that VOX experiences smaller price fluctuations and is considered to be less risky than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VOXIYZDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

6.64%

-2.46%

Volatility (6M)

Calculated over the trailing 6-month period

11.14%

14.47%

-3.33%

Volatility (1Y)

Calculated over the trailing 1-year period

15.44%

17.69%

-2.25%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.16%

18.71%

+2.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.89%

19.23%

+1.66%

VOX vs. IYZ - Expense Ratio Comparison

VOX has a 0.10% expense ratio, which is lower than IYZ's 0.42% expense ratio.

Dividends

VOX vs. IYZ - Dividend Comparison

VOX's dividend yield for the trailing twelve months is around 0.99%, less than IYZ's 1.46% yield.

PositionTTM20252024202320222021202020192018201720162015
IYZ
iShares U.S. Telecommunications ETF		1.46%2.04%1.94%2.27%2.55%2.51%2.60%2.36%2.15%3.54%2.27%1.98%
VOX
Vanguard Communication Services ETF		0.99%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

VOX and IYZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYZ has higher volatility (6.64%) compared to VOX (4.18%). In terms of maximum drawdown, VOX dropped -57.18% vs IYZ's -77.11%.

On 10-year performance, VOX leads with 9.39% vs 6.60% for IYZ. On fees, VOX is cheaper at 0.10% per year. On volatility, VOX has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOX has performed better with a 9.39% return vs 6.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOX is cheaper with a 0.10% expense ratio, compared with 0.42% for IYZ.

IYZ has the higher dividend yield at 1.46%, compared with 0.99% for VOX.

VOX is categorized as Technology Equities, while IYZ is Communications Equities. VOX tracks MSCI US Investable Market Telecommunication Services 25/50 Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VOX and 0.42% for IYZ.

IYZ currently has the higher Sharpe Ratio (3.73 vs 1.37), 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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