VV vs. VIOO

Last updated Aug 2, 2026

VV (Vanguard Large-Cap ETF) and VIOO (Vanguard S&P Small-Cap 600 ETF) are both exchange-traded funds - VV is a Large Cap Blend Equities fund tracking the CRSP US Large Cap Index, while VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, VV returned 15.14%/yr vs 10.87%/yr for VIOO. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VV charges 0.04%/yr vs 0.07%/yr for VIOO.

Performance

VV vs. VIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Large-Cap ETF (VV) and Vanguard S&P Small-Cap 600 ETF (VIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VV achieves a 9.78% return, which is significantly lower than VIOO's 21.54% return. Over the past 10 years, VV has outperformed VIOO with an annualized return of 15.14%, while VIOO has yielded a comparatively lower 10.87% annualized return.

VV

• 1D: 0.68%
• 1M: 0.19%
• 6M: 8.54%
• YTD: 9.78%
• 1Y: 20.98%
• 3Y*: 19.53%
• 5Y*: 12.36%
• 10Y*: 15.14%
• ALL TIME*: 10.97%

VIOO

• 1D: -0.01%
• 1M: -0.56%
• 6M: 15.04%
• YTD: 21.54%
• 1Y: 35.81%
• 3Y*: 13.37%
• 5Y*: 7.42%
• 10Y*: 10.87%
• ALL TIME*: 12.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VIOO Vanguard S&P Small-Cap 600 ETF	$8.61M	$8.65M	$9.93M
VV Vanguard Large-Cap ETF	$85.99M	$75.21M	$96.89M

VV vs. VIOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VV Vanguard Large-Cap ETF	9.78%	18.11%	25.25%	27.18%	-19.91%	27.41%	21.04%	31.25%	-4.46%	22.00%
VIOO Vanguard S&P Small-Cap 600 ETF	21.54%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%

Correlation

The correlation between VV and VIOO is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.79

The correlation between VV and VIOO has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

VV vs. VIOO - Sectors Allocation Comparison

Sectors	VV	VIOO
Technology	39.1%	15.6%
Financial Services	11.5%	17.1%
Communication Services	9.7%	3.2%
Consumer Cyclical	9.0%	13.2%
Healthcare	8.9%	12.2%
Industrials	8.2%	15.6%
Consumer Defensive	4.4%	4.2%
Energy	3.0%	4.9%
Utilities	2.5%	1.8%
Basic Materials	1.7%	4.7%
Real Estate	1.6%	7.6%

Return for Risk

VV vs. VIOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VV

VV Risk / Return Rank: 63
VV Sharpe Ratio Rank: 64
VV Sortino Ratio Rank: 61
VV Omega Ratio Rank: 62
VV Calmar Ratio Rank: 59
VV Martin Ratio Rank: 71

VIOO

VIOO Risk / Return Rank: 86
VIOO Sharpe Ratio Rank: 84
VIOO Sortino Ratio Rank: 86
VIOO Omega Ratio Rank: 81
VIOO Calmar Ratio Rank: 90
VIOO Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VV vs. VIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap ETF (VV) and Vanguard S&P Small-Cap 600 ETF (VIOO). 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.

	VV	VIOO	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.95	-0.48
Sortino ratio: Return per unit of downside risk	2.05	2.85	-0.80
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.07	3.85	-1.78
Martin ratio: Return relative to average drawdown	8.71	13.20	-4.48

VV vs. VIOO - Sharpe Ratio Comparison

The current VV Sharpe Ratio is 1.47, which is comparable to the VIOO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of VV and VIOO, 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

VV vs. VIOO - Drawdown Comparison

The maximum VV drawdown since its inception was -54.81%, which is greater than VIOO's maximum drawdown of -44.15%. Use the drawdown chart below to compare losses from any high point for VV and VIOO.

Drawdown Indicators

	VV	VIOO	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-44.15%	-10.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-8.77%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.97%	-27.93%	+8.96%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-27.93%	+2.27%
Max Drawdown (10Y) Largest decline over 10 years	-34.28%	-44.15%	+9.87%
Current Drawdown Current decline from peak	-1.53%	-1.95%	+0.42%
Average Drawdown Average peak-to-trough decline	-6.80%	-7.27%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.56%	-0.38%

Volatility

VV vs. VIOO - Volatility Comparison

Vanguard Large-Cap ETF (VV) has a higher volatility of 3.64% compared to Vanguard S&P Small-Cap 600 ETF (VIOO) at 3.46%. This indicates that VV's price experiences larger fluctuations and is considered to be riskier than VIOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VV	VIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.46%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	11.66%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.01%	17.41%	-4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	21.25%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	22.94%	-4.73%

VV vs. VIOO - Expense Ratio Comparison

VV has a 0.04% expense ratio, which is lower than VIOO's 0.07% 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

VV vs. VIOO - Dividend Comparison

VV's dividend yield for the trailing twelve months is around 1.02%, less than VIOO's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOO Vanguard S&P Small-Cap 600 ETF	1.12%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%
VV Vanguard Large-Cap ETF	1.02%	1.08%	1.24%	1.41%	1.66%	1.19%	1.46%	1.81%	2.09%	1.75%	1.98%	1.96%

Frequently Asked Questions

Can I hold both VV and VIOO in my portfolio?

VV and VIOO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VV or VIOO?

VV has higher volatility (3.64%) compared to VIOO (3.46%). In terms of maximum drawdown, VV dropped -54.81% vs VIOO's -44.15%.

Which ETF is better, VV or VIOO?

On 10-year performance, VV leads with 15.14% vs 10.87% for VIOO. On fees, VV is cheaper at 0.04% per year. On volatility, VIOO has been the lower-risk option at 3.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VV or VIOO?

Over the 10-year period, VV has performed better with a 15.14% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VV or VIOO?

VV is cheaper with a 0.04% expense ratio, compared with 0.07% for VIOO.

Which ETF pays a higher dividend yield, VV or VIOO?

VIOO has the higher dividend yield at 1.12%, compared with 1.02% for VV.

What is the main difference between VV and VIOO?

VV is categorized as Large Cap Blend Equities, while VIOO is Small Cap Blend Equities. VV tracks CRSP US Large Cap Index, while VIOO tracks S&P SmallCap 600 Index. Their fees differ too: 0.04% for VV and 0.07% for VIOO.

Which has better risk-adjusted returns?

VIOO currently has the higher Sharpe Ratio (1.95 vs 1.47), 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.