VOX vs. MUSQ
VOX (Vanguard Communication Services ETF) and MUSQ (MUSQ Global Music Industry Index ETF) are both Communications Equities funds - VOX tracks the MSCI US Investable Market Communication Services 25/50 Index while MUSQ tracks the MUSQ Global Music Industry Index. Both are passively managed. Over the past 3 years, VOX returned 21.07%/yr vs 1.17%/yr for MUSQ. Their 0.68 correlation means they have sometimes moved together and sometimes differently. VOX charges 0.09%/yr vs 0.76%/yr for MUSQ.
Performance
VOX vs. MUSQ - Performance Comparison
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Returns By Period
In the year-to-date period, VOX achieves a -2.41% return, which is significantly higher than MUSQ's -10.71% return.
VOX
- 1D
- 3.45%
- 1M
- 0.11%
- 6M
- -4.92%
- YTD
- -2.41%
- 1Y
- 10.81%
- 3Y*
- 21.07%
- 5Y*
- 6.63%
- 10Y*
- 8.34%
- ALL TIME*
- 8.76%
MUSQ
- 1D
- 2.33%
- 1M
- -2.09%
- 6M
- -9.23%
- YTD
- -10.71%
- 1Y
- -6.71%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $176.08K | $88.21K | $45.98K | |
| $68.75M | $60.11M | $55.51M |
VOX vs. MUSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VOX Vanguard Communication Services ETF | -2.41% | 26.27% | 33.12% | 11.36% |
MUSQ MUSQ Global Music Industry Index ETF | -10.71% | 19.60% | -4.94% | 0.81% |
Correlation
The correlation between VOX and MUSQ is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | 0.68 |
The correlation between VOX and MUSQ has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.
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Return for Risk
VOX vs. MUSQ — Risk / Return Rank
VOX
MUSQ
VOX vs. MUSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services ETF (VOX) and MUSQ Global Music Industry Index ETF (MUSQ). 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.
| VOX | MUSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.95 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.29 | +1.09 |
| Martin ratioReturn relative to average drawdown | 2.43 | -0.59 | +3.01 |
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Drawdowns
VOX vs. MUSQ - Drawdown Comparison
The maximum VOX drawdown since its inception was -57.18%, which is greater than MUSQ's maximum drawdown of -23.11%. Use the drawdown chart below to compare losses from any high point for VOX and MUSQ.
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Drawdown Indicators
| VOX | MUSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.18% | -23.11% | -34.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.56% | -23.11% | +9.55% |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | -23.11% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -46.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.76% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | -16.70% | +11.01% |
Average DrawdownAverage peak-to-trough decline | -11.87% | -7.08% | -4.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 11.43% | -6.97% |
Volatility
VOX vs. MUSQ - Volatility Comparison
Vanguard Communication Services ETF (VOX) has a higher volatility of 7.56% compared to MUSQ Global Music Industry Index ETF (MUSQ) at 6.73%. This indicates that VOX's price experiences larger fluctuations and is considered to be riskier than MUSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOX | MUSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 6.73% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 13.82% | 15.30% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 18.20% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 18.12% | +3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 18.12% | +2.91% |
VOX vs. MUSQ - Expense Ratio Comparison
VOX has a 0.09% expense ratio, which is lower than MUSQ's 0.76% expense ratio.
Dividends
VOX vs. MUSQ - Dividend Comparison
VOX's dividend yield for the trailing twelve months is around 1.04%, more than MUSQ's 0.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUSQ MUSQ Global Music Industry Index ETF | 0.71% | 0.63% | 1.08% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
VOX and MUSQ have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOX has higher volatility (7.56%) compared to MUSQ (6.73%). In terms of maximum drawdown, VOX dropped -57.18% vs MUSQ's -23.11%.
On 3-year performance, VOX leads with 21.07% vs 1.17% for MUSQ. On fees, VOX is cheaper at 0.09% per year. On volatility, MUSQ has been the lower-risk option at 6.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VOX has performed better with a 21.07% return vs 1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOX is cheaper with a 0.09% expense ratio, compared with 0.76% for MUSQ.
VOX has the higher dividend yield at 1.04%, compared with 0.71% for MUSQ.
VOX tracks MSCI US Investable Market Communication Services 25/50 Index, while MUSQ tracks MUSQ Global Music Industry Index. They also come from different issuers: Vanguard and Exchange Traded Concepts. Their fees differ too: 0.09% for VOX and 0.76% for MUSQ.
VOX currently has the higher Sharpe Ratio (0.63 vs -0.37), 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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