VRVIX vs. FDVV

Last updated Jun 24, 2026

VRVIX (Vanguard Russell 1000 Value Index Fund Institutional Shares) and FDVV (Fidelity High Dividend ETF) are both funds - VRVIX is a Large Cap Value Equities fund managed by Vanguard, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Over the past 5 years, VRVIX returned 11.30%/yr vs 13.69%/yr for FDVV. Their correlation of 0.92 suggests significant overlap in exposure. VRVIX charges 0.07%/yr vs 0.29%/yr for FDVV.

Performance

VRVIX vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Value Index Fund Institutional Shares (VRVIX) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRVIX achieves a 16.67% return, which is significantly higher than FDVV's 8.39% return.

VRVIX

• 1D: 0.55%
• 1M: 3.40%
• YTD: 16.67%
• 6M: 15.93%
• 1Y: 29.73%
• 3Y*: 18.82%
• 5Y*: 11.30%
• 10Y*: 11.80%

FDVV

• 1D: 0.08%
• 1M: 0.43%
• YTD: 8.39%
• 6M: 8.10%
• 1Y: 22.16%
• 3Y*: 19.90%
• 5Y*: 13.69%
• 10Y*: —

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

VRVIX vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRVIX Vanguard Russell 1000 Value Index Fund Institutional Shares	16.67%	15.31%	14.32%	11.41%	-7.64%	25.09%	2.75%	26.49%	-8.30%	13.58%
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between VRVIX and FDVV is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.92

The correlation between VRVIX and FDVV shifts across timeframes, from 0.82 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VRVIX vs. FDVV — Risk / Return Rank

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

VRVIX

VRVIX Risk / Return Rank: 89
VRVIX Sharpe Ratio Rank: 90
VRVIX Sortino Ratio Rank: 86
VRVIX Omega Ratio Rank: 81
VRVIX Calmar Ratio Rank: 91
VRVIX Martin Ratio Rank: 94

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 71
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

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.

VRVIX vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Value Index Fund Institutional Shares (VRVIX) and Fidelity High Dividend ETF (FDVV). 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.

	VRVIX	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.74	2.19	+0.55
Sortino ratio: Return per unit of downside risk	3.83	3.06	+0.76
Omega ratio: Gain probability vs. loss probability	1.49	1.40	+0.09
Calmar ratio: Return relative to maximum drawdown	4.54	2.39	+2.15
Martin ratio: Return relative to average drawdown	18.88	9.89	+8.99

VRVIX vs. FDVV - Sharpe Ratio Comparison

The current VRVIX Sharpe Ratio is 2.74, which is comparable to the FDVV Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of VRVIX and FDVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VRVIX vs. FDVV - Drawdown Comparison

The maximum VRVIX drawdown since its inception was -38.29%, roughly equal to the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for VRVIX and FDVV.

Drawdown Indicators

	VRVIX	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-40.25%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-9.30%	+2.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.00%	-15.90%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-20.18%	+1.12%
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	—	—
Current Drawdown Current decline from peak	-0.08%	-1.31%	+1.23%
Average Drawdown Average peak-to-trough decline	-3.91%	-3.79%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.24%	-0.61%

Volatility

VRVIX vs. FDVV - Volatility Comparison

Vanguard Russell 1000 Value Index Fund Institutional Shares (VRVIX) has a higher volatility of 3.96% compared to Fidelity High Dividend ETF (FDVV) at 3.09%. This indicates that VRVIX's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRVIX	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.09%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	8.26%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	10.15%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	14.73%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	16.97%	+0.41%

VRVIX vs. FDVV - Expense Ratio Comparison

VRVIX has a 0.07% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

VRVIX vs. FDVV - Dividend Comparison

VRVIX's dividend yield for the trailing twelve months is around 1.62%, less than FDVV's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVV Fidelity High Dividend ETF	2.86%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
VRVIX Vanguard Russell 1000 Value Index Fund Institutional Shares	1.62%	1.41%	1.98%	2.10%	2.24%	1.69%	2.25%	2.30%	2.60%	2.21%	2.43%	2.42%

Frequently Asked Questions

Can I hold both VRVIX and FDVV in my portfolio?

VRVIX and FDVV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRVIX or FDVV?

VRVIX has higher volatility (3.96%) compared to FDVV (3.09%). In terms of maximum drawdown, VRVIX dropped -38.29% vs FDVV's -40.25%.

Which has better risk-adjusted returns?

VRVIX currently has the higher Sharpe Ratio (2.74 vs 2.19), 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.