VTV vs. VMFXX

Last updated Jun 9, 2026

VTV (Vanguard Value ETF) and VMFXX (Vanguard Federal Money Market Fund) are both funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while VMFXX is a Money Market fund managed by Vanguard. Over the past 5 years, VTV returned 11.30%/yr vs 2.39%/yr for VMFXX. At a 0.07 correlation, their price movements are largely independent. VTV charges 0.04%/yr vs 0.11%/yr for VMFXX.

Performance

VTV vs. VMFXX - Performance Comparison

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

Returns By Period

In the year-to-date period, VTV achieves a 11.91% return, which is significantly higher than VMFXX's 1.50% return.

VTV

• 1D: 0.25%
• 1M: 2.67%
• YTD: 11.91%
• 6M: 13.41%
• 1Y: 25.49%
• 3Y*: 17.72%
• 5Y*: 11.30%
• 10Y*: 12.42%

VMFXX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.95%
• 3Y*: 3.35%
• 5Y*: 2.39%
• 10Y*: —

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

VTV vs. VMFXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VTV Vanguard Value ETF	11.91%	15.27%	15.95%	9.32%	-2.09%	7.69%
VMFXX Vanguard Federal Money Market Fund	1.50%	4.24%	1.64%	4.64%	0.00%	0.00%

Correlation

The correlation between VTV and VMFXX is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.07

VTV vs. VMFXX - Sectors Allocation Comparison

Sectors	VTV	VMFXX
Financial Services	22.3%	17.5%
Healthcare	14.5%	-
Industrials	14.0%	-
Technology	13.4%	-
Consumer Defensive	9.4%	-
Energy	8.1%	-
Utilities	5.2%	-
Consumer Cyclical	4.0%	-
Communication Services	3.3%	-
Basic Materials	3.1%	-
Real Estate	2.8%	-

Return for Risk

VTV vs. VMFXX — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 84
VTV Sharpe Ratio Rank: 85
VTV Sortino Ratio Rank: 87
VTV Omega Ratio Rank: 83
VTV Calmar Ratio Rank: 83
VTV Martin Ratio Rank: 83

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. VMFXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Vanguard Federal Money Market Fund (VMFXX). 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.

	VTV	VMFXX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	3.67	-1.15
Sortino ratio: Return per unit of downside risk	3.58	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	4.03	—	—
Martin ratio: Return relative to average drawdown	15.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTV vs. VMFXX - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.52, which is lower than the VMFXX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of VTV and VMFXX, 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

	VTV	VMFXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	3.67	-1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	2.60	-1.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	2.59	-2.08

Drawdowns

VTV vs. VMFXX - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for VTV and VMFXX.

Drawdown Indicators

	VTV	VMFXX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	0.00%	-59.27%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	0.00%	-6.35%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	0.00%	-14.52%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	0.00%	-17.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	—	—
Current Drawdown Current decline from peak	-1.11%	0.00%	-1.11%
Average Drawdown Average peak-to-trough decline	-7.87%	0.00%	-7.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.00%	+1.68%

Volatility

VTV vs. VMFXX - Volatility Comparison

Vanguard Value ETF (VTV) has a higher volatility of 2.65% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.30%. This indicates that VTV's price experiences larger fluctuations and is considered to be riskier than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	VMFXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	0.30%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	7.67%	0.79%	+6.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	1.12%	+9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	0.94%	+12.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	0.94%	+15.74%

VTV vs. VMFXX - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than VMFXX's 0.11% 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

VTV vs. VMFXX - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.87%, less than VMFXX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMFXX Vanguard Federal Money Market Fund	3.87%	4.14%	1.63%	4.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTV Vanguard Value ETF	1.87%	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 VMFXX in my portfolio?

VTV and VMFXX have a correlation of 0.06, 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 VMFXX?

VTV has higher volatility (2.65%) compared to VMFXX (0.30%). In terms of maximum drawdown, VTV dropped -59.27% vs VMFXX's 0.00%.

Which has better risk-adjusted returns?

VMFXX currently has the higher Sharpe Ratio (3.67 vs 2.52), 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.