VOX vs. VONE
VOX (Vanguard Communication Services ETF) and VONE (Vanguard Russell 1000 ETF) are both exchange-traded funds - VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index, while VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Both are passively managed. Over the past 10 years, VOX returned 8.39%/yr vs 15.46%/yr for VONE. A 0.77 correlation means they provide meaningful diversification when combined. VOX charges 0.09%/yr vs 0.08%/yr for VONE.
Performance
VOX vs. VONE - Performance Comparison
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Returns By Period
In the year-to-date period, VOX achieves a -5.59% return, which is significantly lower than VONE's 9.48% return. Over the past 10 years, VOX has underperformed VONE with an annualized return of 8.39%, while VONE has yielded a comparatively higher 15.46% annualized return.
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%
VONE
- 1D
- -0.27%
- 1M
- 0.31%
- YTD
- 9.48%
- 6M
- 9.01%
- 1Y
- 25.90%
- 3Y*
- 21.09%
- 5Y*
- 12.72%
- 10Y*
- 15.46%
VOX vs. VONE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VONE Vanguard Russell 1000 ETF | 9.48% | 17.21% | 24.51% | 26.41% | -19.14% | 26.49% | 20.95% | 31.12% | -4.84% | 21.55% |
Correlation
The correlation between VOX and VONE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.77 |
The correlation between VOX and VONE shifts across timeframes, from 0.71 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VOX vs. VONE — Risk / Return Rank
VOX
VONE
VOX vs. VONE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services ETF (VOX) and Vanguard Russell 1000 ETF (VONE). 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 | VONE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 2.94 | -1.92 |
| Martin ratioReturn relative to average drawdown | 3.65 | 13.14 | -9.49 |
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Drawdowns
VOX vs. VONE - Drawdown Comparison
The maximum VOX drawdown since its inception was -57.18%, which is greater than VONE's maximum drawdown of -34.66%. Use the drawdown chart below to compare losses from any high point for VOX and VONE.
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Drawdown Indicators
| VOX | VONE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.18% | -34.66% | -22.52% |
Max Drawdown (1Y)Largest decline over 1 year | -13.56% | -8.85% | -4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | -19.06% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -46.76% | -25.12% | -21.64% |
Max Drawdown (10Y)Largest decline over 10 years | -46.76% | -34.66% | -12.10% |
Current DrawdownCurrent decline from peak | -8.76% | -1.67% | -7.09% |
Average DrawdownAverage peak-to-trough decline | -11.90% | -3.90% | -8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 1.98% | +1.80% |
Volatility
VOX vs. VONE - Volatility Comparison
Vanguard Communication Services ETF (VOX) has a higher volatility of 5.45% compared to Vanguard Russell 1000 ETF (VONE) at 4.51%. This indicates that VOX's price experiences larger fluctuations and is considered to be riskier than VONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOX | VONE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 4.51% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 9.76% | +2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 12.52% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.24% | 17.16% | +4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.94% | 18.29% | +2.65% |
VOX vs. VONE - Expense Ratio Comparison
VOX has a 0.09% expense ratio, which is higher than VONE's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VOX vs. VONE - Dividend Comparison
VOX's dividend yield for the trailing twelve months is around 1.04%, which matches VONE's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VONE Vanguard Russell 1000 ETF | 1.03% | 1.07% | 1.20% | 1.40% | 1.59% | 1.16% | 1.45% | 1.65% | 1.96% | 1.69% | 1.89% | 1.89% |
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 VONE have a correlation of 0.71, 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 VONE (4.51%). In terms of maximum drawdown, VOX dropped -57.18% vs VONE's -34.66%.
On 10-year performance, VONE leads with 15.46% vs 8.39% for VOX. On fees, VONE is cheaper at 0.08% per year. On volatility, VONE has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VONE has performed better with a 15.46% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VONE is cheaper with a 0.08% expense ratio, compared with 0.09% for VOX.
VOX and VONE have nearly identical dividend yields, around 1.04%.
VOX is categorized as Communications Equities, while VONE is Large Cap Blend Equities. VOX tracks MSCI US Investable Market Communication Services 25/50 Index, while VONE tracks Russell 1000 Index. Their fees differ too: 0.09% for VOX and 0.08% for VONE.
VONE currently has the higher Sharpe Ratio (2.08 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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