VTV vs. VMAX

Last updated Jun 25, 2026

VTV (Vanguard Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. VTV is passively managed, while VMAX is actively managed. Over the past year, VTV returned 26.34% vs 27.96% for VMAX. Their correlation of 0.91 suggests significant overlap in exposure. VTV charges 0.04%/yr vs 0.29%/yr for VMAX.

Performance

VTV vs. VMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) and Hartford US Value ETF (VMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VTV having a 14.56% return and VMAX slightly higher at 15.04%.

VTV

• 1D: 0.07%
• 1M: 3.17%
• YTD: 14.56%
• 6M: 13.44%
• 1Y: 26.34%
• 3Y*: 18.69%
• 5Y*: 12.10%
• 10Y*: 12.96%

VMAX

• 1D: -0.34%
• 1M: 2.70%
• YTD: 15.04%
• 6M: 13.37%
• 1Y: 27.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTV vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VTV Vanguard Value ETF	14.56%	15.27%	15.95%	4.87%
VMAX Hartford US Value ETF	15.04%	15.65%	15.89%	5.71%

Correlation

The correlation between VTV and VMAX 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 (All Time) Calculated using the full available price history since Dec 6, 2023	0.91

The correlation between VTV and VMAX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

VTV vs. VMAX - Sectors Allocation Comparison

Sectors	VTV	VMAX
Financial Services	21.5%	32.4%
Technology	16.4%	13.3%
Healthcare	14.1%	11.1%
Industrials	13.9%	5.5%
Consumer Defensive	8.9%	3.7%
Energy	7.4%	11.0%
Utilities	4.8%	5.3%
Consumer Cyclical	4.0%	3.7%
Communication Services	3.1%	6.6%
Basic Materials	3.0%	2.8%
Real Estate	2.7%	4.4%

Return for Risk

VTV vs. VMAX — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 86
VTV Sharpe Ratio Rank: 87
VTV Sortino Ratio Rank: 89
VTV Omega Ratio Rank: 85
VTV Calmar Ratio Rank: 85
VTV Martin Ratio Rank: 84

VMAX

VMAX Risk / Return Rank: 84
VMAX Sharpe Ratio Rank: 81
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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.

VTV vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Hartford US Value ETF (VMAX). 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.

	VTV	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.29	+0.27
Sortino ratio: Return per unit of downside risk	3.65	3.13	+0.52
Omega ratio: Gain probability vs. loss probability	1.46	1.40	+0.06
Calmar ratio: Return relative to maximum drawdown	4.17	5.70	-1.53
Martin ratio: Return relative to average drawdown	15.70	19.99	-4.29

VTV vs. VMAX - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.56, which is comparable to the VMAX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VTV and VMAX, 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

VTV vs. VMAX - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than VMAX's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for VTV and VMAX.

Drawdown Indicators

	VTV	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-19.05%	-40.22%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-4.93%	-1.42%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	—	—
Current Drawdown Current decline from peak	-0.48%	-0.73%	+0.25%
Average Drawdown Average peak-to-trough decline	-7.85%	-2.52%	-5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.40%	+0.28%

Volatility

VTV vs. VMAX - Volatility Comparison

Vanguard Value ETF (VTV) has a higher volatility of 3.33% compared to Hartford US Value ETF (VMAX) at 3.17%. This indicates that VTV's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.17%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	8.83%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	12.31%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	15.40%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	15.40%	+1.24%

VTV vs. VMAX - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than VMAX's 0.29% expense ratio.

Dividends

VTV vs. VMAX - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.83%, less than VMAX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMAX Hartford US Value ETF	1.86%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTV Vanguard Value ETF	1.83%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both VTV and VMAX in my portfolio?

VTV and VMAX 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, VTV or VMAX?

VTV has higher volatility (3.33%) compared to VMAX (3.17%). In terms of maximum drawdown, VTV dropped -59.27% vs VMAX's -19.05%.

Which ETF is better, VTV or VMAX?

On 1-year performance, VMAX leads with 27.96% vs 26.34% for VTV. On fees, VTV is cheaper at 0.04% per year. On volatility, VMAX has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTV or VMAX?

Over the 1-year period, VMAX has performed better with a 27.96% return vs 26.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTV or VMAX?

VTV is cheaper with a 0.04% expense ratio, compared with 0.29% for VMAX.

Which ETF pays a higher dividend yield, VTV or VMAX?

VMAX has the higher dividend yield at 1.86%, compared with 1.83% for VTV.

What is the main difference between VTV and VMAX?

They also come from different issuers: Vanguard and Hartford. Their fees differ too: 0.04% for VTV and 0.29% for VMAX.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.56 vs 2.29), 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.