VPU vs. VOX
VPU (Vanguard Utilities ETF) and VOX (Vanguard Communication Services ETF) are both exchange-traded funds - VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 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, VPU returned 8.85%/yr vs 8.96%/yr for VOX. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
VPU vs. VOX - Performance Comparison
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Returns By Period
In the year-to-date period, VPU achieves a 2.68% return, which is significantly higher than VOX's -3.11% return. Both investments have delivered pretty close results over the past 10 years, with VPU having a 8.85% annualized return and VOX not far ahead at 8.96%.
VPU
- 1D
- -1.87%
- 1M
- -2.65%
- YTD
- 2.68%
- 6M
- 3.11%
- 1Y
- 10.68%
- 3Y*
- 12.74%
- 5Y*
- 8.91%
- 10Y*
- 8.85%
VOX
- 1D
- -0.72%
- 1M
- -5.33%
- YTD
- -3.11%
- 6M
- -2.48%
- 1Y
- 15.34%
- 3Y*
- 23.12%
- 5Y*
- 7.10%
- 10Y*
- 8.96%
VPU vs. VOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPU Vanguard Utilities ETF | 2.68% | 16.46% | 23.04% | -7.45% | 1.06% | 17.40% | -0.74% | 24.89% | 4.38% | 12.44% |
VOX Vanguard Communication Services ETF | -3.11% | 26.27% | 33.12% | 44.81% | -38.85% | 13.83% | 29.12% | 28.03% | -16.75% | -5.50% |
Correlation
The correlation between VPU and VOX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2004 | 0.44 |
Over the past year, the correlation between VPU and VOX has dropped to 0.16 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
VPU vs. VOX — Risk / Return Rank
VPU
VOX
VPU vs. VOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) 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.
| VPU | VOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.18 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.14 | +0.07 |
| Martin ratioReturn relative to average drawdown | 2.66 | 4.29 | -1.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VPU | VOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.99 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.34 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.43 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.43 | +0.10 |
Drawdowns
VPU vs. VOX - Drawdown Comparison
The maximum VPU drawdown since its inception was -46.31%, smaller than the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for VPU and VOX.
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Drawdown Indicators
| VPU | VOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.31% | -57.18% | +10.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -13.56% | +4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | -21.15% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -46.76% | +21.61% |
Max Drawdown (10Y)Largest decline over 10 years | -36.42% | -46.76% | +10.34% |
Current DrawdownCurrent decline from peak | -7.71% | -6.36% | -1.35% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -11.91% | +4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 3.59% | +0.43% |
Volatility
VPU vs. VOX - Volatility Comparison
Vanguard Utilities ETF (VPU) has a higher volatility of 5.56% compared to Vanguard Communication Services ETF (VOX) at 4.39%. This indicates that VPU's price experiences larger fluctuations and is considered to be riskier 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
| VPU | VOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.56% | 4.39% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.53% | 11.33% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.38% | 15.53% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.07% | 21.17% | -4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.14% | 20.90% | -1.76% |
VPU vs. VOX - Expense Ratio Comparison
Both VPU and VOX have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VPU vs. VOX - Dividend Comparison
VPU's dividend yield for the trailing twelve months is around 2.70%, more than VOX's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VOX Vanguard Communication Services ETF | 1.01% | 0.95% | 1.05% | 1.03% | 0.88% | 0.93% | 0.73% | 0.90% | 2.77% | 3.83% | 2.67% | 3.55% |
VPU Vanguard Utilities ETF | 2.70% | 2.73% | 3.02% | 3.49% | 2.98% | 2.70% | 3.17% | 2.83% | 3.23% | 3.18% | 3.19% | 3.63% |
Frequently Asked Questions
VPU and VOX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPU has higher volatility (5.56%) compared to VOX (4.39%). In terms of maximum drawdown, VPU dropped -46.31% vs VOX's -57.18%.
On 10-year performance, VOX leads with 8.96% vs 8.85% for VPU. Both ETFs have the same 0.09% expense ratio. On volatility, VOX has been the lower-risk option at 4.39%. 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 8.96% return vs 8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPU and VOX have the same expense ratio: 0.09% per year.
VPU has the higher dividend yield at 2.70%, compared with 1.01% for VOX.
VPU is categorized as Utilities Equities, while VOX is Communications Equities. VPU tracks MSCI US Investable Market Utilities 25/50 Index, while VOX tracks MSCI US Investable Market Communication Services 25/50 Index.
VOX currently has the higher Sharpe Ratio (0.99 vs 0.75), 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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