VXF vs. USMF

Last updated Jun 4, 2026

VXF (Vanguard Extended Market ETF) and USMF (WisdomTree US Multifactor Fund) are both Mid Cap Blend Equities funds - VXF tracks the S&P Completion Index while USMF tracks the WisdomTree US Multifactor Index. Both are passively managed. Over the past 5 years, VXF returned 6.53%/yr vs 7.67%/yr for USMF. Their correlation of 0.85 suggests significant overlap in exposure. VXF charges 0.05%/yr vs 0.28%/yr for USMF.

Performance

VXF vs. USMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market ETF (VXF) and WisdomTree US Multifactor Fund (USMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VXF achieves a 13.78% return, which is significantly higher than USMF's 4.36% return.

VXF

• 1D: -1.02%
• 1M: 4.75%
• YTD: 13.78%
• 6M: 12.61%
• 1Y: 28.88%
• 3Y*: 19.75%
• 5Y*: 6.53%
• 10Y*: 12.08%

USMF

• 1D: -0.56%
• 1M: 3.76%
• YTD: 4.36%
• 6M: 4.80%
• 1Y: 6.28%
• 3Y*: 14.13%
• 5Y*: 7.67%
• 10Y*: —

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

VXF vs. USMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VXF Vanguard Extended Market ETF	13.78%	11.40%	16.89%	25.51%	-26.52%	12.31%	32.45%	27.96%	-9.34%	11.55%
USMF WisdomTree US Multifactor Fund	4.36%	4.60%	19.65%	13.47%	-8.82%	21.26%	12.01%	24.06%	-4.72%	11.27%

Correlation

The correlation between VXF and USMF is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 25, 2017	0.85

The correlation between VXF and USMF has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

VXF vs. USMF - Sectors Allocation Comparison

Sectors	VXF	USMF
Technology	19.8%	35.6%
Industrials	19.3%	7.8%
Financial Services	14.6%	11.8%
Healthcare	13.3%	9.3%
Consumer Cyclical	9.7%	11.1%
Real Estate	6.0%	2.0%
Energy	5.1%	4.1%
Basic Materials	4.2%	0.9%
Communication Services	3.3%	10.3%
Consumer Defensive	2.7%	5.2%
Utilities	2.0%	2.0%

Return for Risk

VXF vs. USMF — Risk / Return Rank

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

VXF

VXF Risk / Return Rank: 50
VXF Sharpe Ratio Rank: 48
VXF Sortino Ratio Rank: 47
VXF Omega Ratio Rank: 44
VXF Calmar Ratio Rank: 56
VXF Martin Ratio Rank: 57

USMF

USMF Risk / Return Rank: 19
USMF Sharpe Ratio Rank: 18
USMF Sortino Ratio Rank: 17
USMF Omega Ratio Rank: 17
USMF Calmar Ratio Rank: 22
USMF Martin Ratio Rank: 23

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.

VXF vs. USMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market ETF (VXF) and WisdomTree US Multifactor Fund (USMF). 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.

	VXF	USMF	Difference
Sharpe ratio: Return per unit of total volatility	1.69	0.58	+1.11
Sortino ratio: Return per unit of downside risk	2.38	0.89	+1.49
Omega ratio: Gain probability vs. loss probability	1.29	1.10	+0.19
Calmar ratio: Return relative to maximum drawdown	2.84	0.98	+1.87
Martin ratio: Return relative to average drawdown	10.07	2.93	+7.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VXF vs. USMF - Sharpe Ratio Comparison

The current VXF Sharpe Ratio is 1.69, which is higher than the USMF Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of VXF and USMF, 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

	VXF	USMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	0.58	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.54	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.63	-0.17

Drawdowns

VXF vs. USMF - Drawdown Comparison

The maximum VXF drawdown since its inception was -58.03%, which is greater than USMF's maximum drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for VXF and USMF.

Drawdown Indicators

	VXF	USMF	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-36.24%	-21.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.21%	-6.47%	-3.74%
Max Drawdown (3Y) Largest decline over 3 years	-26.92%	-15.39%	-11.53%
Max Drawdown (5Y) Largest decline over 5 years	-36.39%	-18.10%	-18.29%
Max Drawdown (10Y) Largest decline over 10 years	-41.72%	—	—
Current Drawdown Current decline from peak	-1.02%	-0.56%	-0.46%
Average Drawdown Average peak-to-trough decline	-9.55%	-4.16%	-5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.15%	+0.72%

Volatility

VXF vs. USMF - Volatility Comparison

Vanguard Extended Market ETF (VXF) has a higher volatility of 4.87% compared to WisdomTree US Multifactor Fund (USMF) at 2.30%. This indicates that VXF's price experiences larger fluctuations and is considered to be riskier than USMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VXF	USMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	2.30%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	12.44%	7.43%	+5.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.22%	10.79%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	14.27%	+8.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	16.97%	+5.32%

VXF vs. USMF - Expense Ratio Comparison

VXF has a 0.05% expense ratio, which is lower than USMF's 0.28% expense ratio.

Dividends

VXF vs. USMF - Dividend Comparison

VXF's dividend yield for the trailing twelve months is around 1.02%, less than USMF's 1.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USMF WisdomTree US Multifactor Fund	1.32%	1.37%	1.22%	1.33%	1.74%	1.42%	1.34%	1.38%	1.45%	0.67%	0.00%	0.00%
VXF Vanguard Extended Market ETF	1.02%	1.14%	1.09%	1.27%	1.15%	1.13%	1.07%	1.30%	1.66%	1.25%	1.43%	1.35%

Frequently Asked Questions

Can I hold both VXF and USMF in my portfolio?

VXF and USMF have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VXF or USMF?

VXF has higher volatility (4.87%) compared to USMF (2.30%). In terms of maximum drawdown, VXF dropped -58.03% vs USMF's -36.24%.

Which ETF is better, VXF or USMF?

On 5-year performance, USMF leads with 7.67% vs 6.53% for VXF. On fees, VXF is cheaper at 0.05% per year. On volatility, USMF has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXF or USMF?

Over the 5-year period, USMF has performed better with a 7.67% return vs 6.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VXF or USMF?

VXF is cheaper with a 0.05% expense ratio, compared with 0.28% for USMF.

Which ETF pays a higher dividend yield, VXF or USMF?

USMF has the higher dividend yield at 1.32%, compared with 1.02% for VXF.

What is the main difference between VXF and USMF?

VXF tracks S&P Completion Index, while USMF tracks WisdomTree US Multifactor Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.05% for VXF and 0.28% for USMF.

Which has better risk-adjusted returns?

VXF currently has the higher Sharpe Ratio (1.69 vs 0.58), 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.