VRTIX vs. VIOV

Last updated Jun 3, 2026

VRTIX (Vanguard Russell 2000 Index Fund Institutional Shares) and VIOV (Vanguard S&P Small-Cap 600 Value ETF) are both funds - VRTIX is a Small Cap Blend Equities fund managed by Vanguard, while VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index. Over the past 10 years, VRTIX returned 11.14%/yr vs 10.37%/yr for VIOV. Their correlation of 0.90 suggests significant overlap in exposure. VRTIX charges 0.08%/yr vs 0.10%/yr for VIOV.

Performance

VRTIX vs. VIOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Index Fund Institutional Shares (VRTIX) and Vanguard S&P Small-Cap 600 Value ETF (VIOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VRTIX having a 17.65% return and VIOV slightly lower at 16.78%. Over the past 10 years, VRTIX has outperformed VIOV with an annualized return of 11.14%, while VIOV has yielded a comparatively lower 10.37% annualized return.

VRTIX

• 1D: -0.45%
• 1M: 3.42%
• YTD: 17.65%
• 6M: 18.62%
• 1Y: 42.26%
• 3Y*: 18.21%
• 5Y*: 6.22%
• 10Y*: 11.14%

VIOV

• 1D: 1.15%
• 1M: 2.34%
• YTD: 16.78%
• 6M: 17.90%
• 1Y: 41.64%
• 3Y*: 14.79%
• 5Y*: 6.04%
• 10Y*: 10.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VRTIX vs. VIOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRTIX Vanguard Russell 2000 Index Fund Institutional Shares	17.65%	12.55%	11.59%	17.01%	-20.40%	14.71%	20.46%	25.60%	-10.92%	14.77%
VIOV Vanguard S&P Small-Cap 600 Value ETF	16.78%	6.63%	7.44%	15.36%	-11.37%	30.67%	2.81%	24.44%	-12.85%	11.54%

Correlation

The correlation between VRTIX and VIOV is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.90

The correlation between VRTIX and VIOV has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

VRTIX vs. VIOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VRTIX

VRTIX Risk / Return Rank: 62
VRTIX Sharpe Ratio Rank: 57
VRTIX Sortino Ratio Rank: 53
VRTIX Omega Ratio Rank: 45
VRTIX Calmar Ratio Rank: 82
VRTIX Martin Ratio Rank: 70

VIOV

VIOV Risk / Return Rank: 71
VIOV Sharpe Ratio Rank: 68
VIOV Sortino Ratio Rank: 70
VIOV Omega Ratio Rank: 64
VIOV Calmar Ratio Rank: 82
VIOV Martin Ratio Rank: 74

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.

VRTIX vs. VIOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Index Fund Institutional Shares (VRTIX) and Vanguard S&P Small-Cap 600 Value ETF (VIOV). 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.

	VRTIX	VIOV	Difference
Sharpe ratio Return per unit of total volatility	2.24	2.28	-0.04
Sortino ratio Return per unit of downside risk	3.08	3.23	-0.15
Omega ratio Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio Return relative to maximum drawdown	3.82	4.36	-0.54
Martin ratio Return relative to average drawdown	13.59	14.24	-0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VRTIX vs. VIOV - Sharpe Ratio Comparison

The current VRTIX Sharpe Ratio is 2.24, which is comparable to the VIOV Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VRTIX and VIOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VRTIX	VIOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.28	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.28	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.44	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.54	-0.02

Drawdowns

VRTIX vs. VIOV - Drawdown Comparison

The maximum VRTIX drawdown since its inception was -41.69%, smaller than the maximum VIOV drawdown of -47.36%. Use the drawdown chart below to compare losses from any high point for VRTIX and VIOV.

Drawdown Indicators

	VRTIX	VIOV	Difference
Max Drawdown Largest peak-to-trough decline	-41.69%	-47.36%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-9.33%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	-27.72%	-28.44%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-31.98%	-28.44%	-3.54%
Max Drawdown (10Y) Largest decline over 10 years	-41.69%	-47.36%	+5.67%
Current Drawdown Current decline from peak	-1.02%	0.00%	-1.02%
Average Drawdown Average peak-to-trough decline	-8.40%	-7.38%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.86%	+0.23%

Volatility

VRTIX vs. VIOV - Volatility Comparison

Vanguard Russell 2000 Index Fund Institutional Shares (VRTIX) has a higher volatility of 5.55% compared to Vanguard S&P Small-Cap 600 Value ETF (VIOV) at 4.51%. This indicates that VRTIX's price experiences larger fluctuations and is considered to be riskier than VIOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRTIX	VIOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.55%	4.51%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	13.57%	11.49%	+2.08%
Volatility (1Y) Calculated over the trailing 1-year period	19.16%	18.38%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.60%	21.95%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.46%	23.89%	-0.43%

VRTIX vs. VIOV - Expense Ratio Comparison

VRTIX has a 0.08% expense ratio, which is lower than VIOV's 0.10% 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

VRTIX vs. VIOV - Dividend Comparison

VRTIX's dividend yield for the trailing twelve months is around 1.08%, less than VIOV's 1.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOV Vanguard S&P Small-Cap 600 Value ETF	1.57%	1.69%	1.78%	2.18%	1.81%	1.59%	1.42%	1.60%	1.76%	1.43%	1.17%	1.32%
VRTIX Vanguard Russell 2000 Index Fund Institutional Shares	1.08%	1.00%	1.23%	1.46%	1.50%	1.05%	1.14%	1.36%	1.49%	1.24%	1.33%	1.31%

Frequently Asked Questions

Can I hold both VRTIX and VIOV in my portfolio?

VRTIX and VIOV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRTIX or VIOV?

VRTIX has higher volatility (5.55%) compared to VIOV (4.51%). In terms of maximum drawdown, VRTIX dropped -41.69% vs VIOV's -47.36%.

Which has better risk-adjusted returns?

VIOV currently has the higher Sharpe Ratio (2.28 vs 2.24), 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.