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VSO.AX vs. VMIN.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VSO.AX vs. VMIN.AX

Last updated Jul 18, 2026
Documentation

VSO.AX (Vanguard MSCI Australian Small Companies INDEX ETF) and VMIN.AX (Vanguard Global Minimum Volatility Active ETF) are both exchange-traded funds - VSO.AX is a Australia Equities fund tracking the MSCI Australian Shares Small Cap Index, while VMIN.AX is a Global Equities fund actively managed by Vanguard. VSO.AX is passively managed, while VMIN.AX is actively managed. Over the past 5 years, VSO.AX returned 3.92%/yr vs 6.35%/yr for VMIN.AX. At a 0.47 correlation, their price movements are largely independent.

Performance

VSO.AX vs. VMIN.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX) and Vanguard Global Minimum Volatility Active ETF (VMIN.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VSO.AX achieves a -7.50% return, which is significantly lower than VMIN.AX's 7.84% return.

VSO.AX

1D
-1.46%
1M
-6.51%
6M
-9.58%
YTD
-7.50%
1Y
4.73%
3Y*
8.02%
5Y*
3.92%
10Y*
7.33%

VMIN.AX

1D
0.21%
1M
0.74%
6M
7.57%
YTD
7.84%
1Y
12.02%
3Y*
11.87%
5Y*
6.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VSO.AX vs. VMIN.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		-7.50%24.14%7.38%3.70%-13.32%21.77%14.75%21.67%-5.57%
VMIN.AX
Vanguard Global Minimum Volatility Active ETF		7.84%12.03%11.45%5.06%-6.66%11.54%-3.76%18.59%0.31%

Correlation

The correlation between VSO.AX and VMIN.AX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2018

0.47

The correlation between VSO.AX and VMIN.AX shifts across timeframes, from 0.40 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard MSCI Australian Small Companies INDEX ETF

Vanguard Global Minimum Volatility Active ETF

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VSO.AX vs. VHY.AXVSO.AX vs. STO.AXVSO.AX vs. IOOVSO.AX vs. SPEMVSO.AX vs. VDBA.AXVSO.AX vs. VAS.AXVSO.AX vs. VDHG.AX
Often compared with VMIN.AX:
VMIN.AX vs. GLIN.AXVMIN.AX vs. IFRA.AXVMIN.AX vs. ILB.AXVMIN.AX vs. VDCO.AXVMIN.AX vs. WVOL.AXVMIN.AX vs. HJPN.AXVMIN.AX vs. VACF.AX

Return for Risk

VSO.AX vs. VMIN.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VSO.AX
VSO.AX Risk / Return Rank: 1414
Overall Rank
VSO.AX Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
VSO.AX Sortino Ratio Rank: 1414
Sortino Ratio Rank
VSO.AX Omega Ratio Rank: 1414
Omega Ratio Rank
VSO.AX Calmar Ratio Rank: 1414
Calmar Ratio Rank
VSO.AX Martin Ratio Rank: 1414
Martin Ratio Rank
VMIN.AX
VMIN.AX Risk / Return Rank: 5454
Overall Rank
VMIN.AX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
VMIN.AX Sortino Ratio Rank: 4848
Sortino Ratio Rank
VMIN.AX Omega Ratio Rank: 5757
Omega Ratio Rank
VMIN.AX Calmar Ratio Rank: 5353
Calmar Ratio Rank
VMIN.AX Martin Ratio Rank: 6666
Martin Ratio Rank
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.

VSO.AX vs. VMIN.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX) and Vanguard Global Minimum Volatility Active ETF (VMIN.AX). 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.

VSO.AXVMIN.AXDifference
Sharpe ratioReturn per unit of total volatility
0.27
1.19

-0.92

Sortino ratioReturn per unit of downside risk
0.49
1.85

-1.36

Omega ratioGain probability vs. loss probability

1.06

1.27

-0.21

Calmar ratioReturn relative to maximum drawdown

0.27

2.01

-1.74

Martin ratioReturn relative to average drawdown

0.68

8.65

-7.96

VSO.AX vs. VMIN.AX - Sharpe Ratio Comparison

The current VSO.AX Sharpe Ratio is 0.27, which is lower than the VMIN.AX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of VSO.AX and VMIN.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VSO.AX vs. VMIN.AX - Drawdown Comparison

The maximum VSO.AX drawdown since its inception was -40.60%, which is greater than VMIN.AX's maximum drawdown of -31.28%. Use the drawdown chart below to compare losses from any high point for VSO.AX and VMIN.AX.

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Drawdown Indicators

VSO.AXVMIN.AXDifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-31.28%

-9.32%

Max Drawdown (1Y)

Largest decline over 1 year

-16.81%

-5.81%

-11.00%

Max Drawdown (3Y)

Largest decline over 3 years

-16.81%

-9.72%

-7.09%

Max Drawdown (5Y)

Largest decline over 5 years

-23.62%

-15.31%

-8.31%

Max Drawdown (10Y)

Largest decline over 10 years

-40.60%

—

—

Current Drawdown

Current decline from peak

-10.86%

-0.55%

-10.31%

Average Drawdown

Average peak-to-trough decline

-6.78%

-3.70%

-3.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.77%

1.37%

+5.40%

Volatility

VSO.AX vs. VMIN.AX - Volatility Comparison

Vanguard MSCI Australian Small Companies INDEX ETF (VSO.AX) has a higher volatility of 3.96% compared to Vanguard Global Minimum Volatility Active ETF (VMIN.AX) at 2.29%. This indicates that VSO.AX's price experiences larger fluctuations and is considered to be riskier than VMIN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VSO.AXVMIN.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.96%

2.29%

+1.67%

Volatility (6M)

Calculated over the trailing 6-month period

14.36%

8.75%

+5.61%

Volatility (1Y)

Calculated over the trailing 1-year period

17.03%

9.82%

+7.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.31%

10.67%

+5.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.89%

12.42%

+4.47%

Dividends

VSO.AX vs. VMIN.AX - Dividend Comparison

VSO.AX's dividend yield for the trailing twelve months is around 3.13%, less than VMIN.AX's 11.18% yield.

PositionTTM20252024202320222021202020192018201720162015
VMIN.AX
Vanguard Global Minimum Volatility Active ETF		11.18%6.54%0.88%0.00%0.00%10.76%4.00%0.00%0.00%0.00%0.00%0.00%
VSO.AX
Vanguard MSCI Australian Small Companies INDEX ETF		3.13%6.86%1.12%1.48%3.25%3.55%6.24%2.96%1.09%2.57%1.50%1.08%

Frequently Asked Questions

VSO.AX and VMIN.AX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VSO.AX is categorized as Australia Equities, while VMIN.AX is Global Equities.

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