VTV vs. VVIAX

Last updated Jun 4, 2026

VTV (Vanguard Value ETF) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both Large Cap Value Equities funds from Vanguard tracking the CRSP US Large Cap Value Index. Both are passively managed. Over the past 10 years, VTV returned 12.48%/yr vs 12.46%/yr for VVIAX. With a 0.99 correlation, they move nearly in lockstep. VTV charges 0.04%/yr vs 0.05%/yr for VVIAX.

Performance

VTV vs. VVIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value ETF (VTV) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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 VTV having a 12.30% return and VVIAX slightly lower at 12.24%. Both investments have delivered pretty close results over the past 10 years, with VTV having a 12.48% annualized return and VVIAX not far behind at 12.46%.

VTV

• 1D: 0.01%
• 1M: 4.23%
• YTD: 12.30%
• 6M: 13.12%
• 1Y: 26.25%
• 3Y*: 18.28%
• 5Y*: 11.24%
• 10Y*: 12.48%

VVIAX

• 1D: 0.86%
• 1M: 4.21%
• YTD: 12.24%
• 6M: 13.09%
• 1Y: 26.20%
• 3Y*: 18.24%
• 5Y*: 11.28%
• 10Y*: 12.46%

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

VTV vs. VVIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTV Vanguard Value ETF	12.30%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%
VVIAX Vanguard Value Index Fund Admiral Shares	12.24%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%

Correlation

The correlation between VTV and VVIAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004	0.99

The correlation between VTV and VVIAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

VTV vs. VVIAX - Sectors Allocation Comparison

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

Return for Risk

VTV vs. VVIAX — Risk / Return Rank

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

VTV

VTV Risk / Return Rank: 79
VTV Sharpe Ratio Rank: 78
VTV Sortino Ratio Rank: 82
VTV Omega Ratio Rank: 77
VTV Calmar Ratio Rank: 79
VTV Martin Ratio Rank: 79

VVIAX

VVIAX Risk / Return Rank: 81
VVIAX Sharpe Ratio Rank: 83
VVIAX Sortino Ratio Rank: 81
VVIAX Omega Ratio Rank: 72
VVIAX Calmar Ratio Rank: 87
VVIAX Martin Ratio Rank: 84

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. VVIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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	VVIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.67	-0.06
Sortino ratio: Return per unit of downside risk	3.74	3.81	-0.07
Omega ratio: Gain probability vs. loss probability	1.47	1.48	-0.01
Calmar ratio: Return relative to maximum drawdown	4.15	4.23	-0.08
Martin ratio: Return relative to average drawdown	15.69	15.96	-0.27
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. VVIAX - Sharpe Ratio Comparison

The current VTV Sharpe Ratio is 2.61, which is comparable to the VVIAX Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of VTV and VVIAX, 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	VVIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.67	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.82	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.75	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.42	+0.09

Drawdowns

VTV vs. VVIAX - Drawdown Comparison

The maximum VTV drawdown since its inception was -59.27%, roughly equal to the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for VTV and VVIAX.

Drawdown Indicators

	VTV	VVIAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.27%	-59.32%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-6.36%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-14.39%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-17.14%	+0.10%
Max Drawdown (10Y) Largest decline over 10 years	-36.78%	-36.80%	+0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.87%	-9.62%	+1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.69%	-0.01%

Volatility

VTV vs. VVIAX - Volatility Comparison

The current volatility for Vanguard Value ETF (VTV) is 2.52%, while Vanguard Value Index Fund Admiral Shares (VVIAX) has a volatility of 2.70%. This indicates that VTV experiences smaller price fluctuations and is considered to be less risky than VVIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTV	VVIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	2.70%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	7.64%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.11%	10.09%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	13.91%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	16.74%	-0.07%

VTV vs. VVIAX - Expense Ratio Comparison

VTV has a 0.04% expense ratio, which is lower than VVIAX's 0.05% 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. VVIAX - Dividend Comparison

VTV's dividend yield for the trailing twelve months is around 1.86%, which matches VVIAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTV Vanguard Value ETF	1.86%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%
VVIAX Vanguard Value Index Fund Admiral Shares	1.85%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both VTV and VVIAX in my portfolio?

With a correlation of 1.00, VTV and VVIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VTV or VVIAX?

VVIAX has higher volatility (2.70%) compared to VTV (2.52%). In terms of maximum drawdown, VTV dropped -59.27% vs VVIAX's -59.32%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.67 vs 2.61), 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.