VBK vs VBR
Vanguard Morningstar Small-Cap Growth ETF vs Vanguard Morningstar Small-Cap Value ETF
Which is better, VBK or VBR?
Small Cap Growth against Small Cap Value.
VBK led over 3Y and the full window, VBR over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.92. VBR is less concentrated, with 5.9% of the fund in its ten largest positions against 9.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | VBK | VBR |
|---|---|---|
| Expense Ratio | 0.05%Tie | 0.05%Tie |
| AUM | $23.2B | $37.3B |
| Dividend Yield | 0.44% | 1.76% |
| Holdings | 553 | 847 |
| YTD Return | +10.45% | +12.02%Best |
| 1Y Return | +11.44% | +14.52%Best |
| 3Y Return (annualized) | +16.03%Best | +15.64% |
| 5Y Return (annualized) | +4.05% | +9.62%Best |
| Volatility (annualized) | 19.6% | 19.0%Best |
| Max Drawdown | -59.4%Best | -64.0% |
| $10,000 over 5 years | $12,196 | $15,829Best |
| Top 10 Weight | 9.1% | 5.9%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Growth | Small Cap Value |
| Inception | Jan 26, 2004 | Jan 26, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Jan 30, 2004 to Sep 18, 2026 (22.6 years).
VBK vs VBR growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 22.6 years both funds cover.
VBK vs VBR Performance
Vanguard Morningstar Small-Cap Growth ETF (VBK) is an ETF from Vanguard (US) and Vanguard Morningstar Small-Cap Value ETF (VBR) is an ETF from Vanguard (US). Over the past year VBK returned +11.44% while VBR returned +14.52%. Year to date, VBK is up 10.45% versus a gain of 12.02% for VBR.
Over three years, VBK compounded at +16.03% per year against +15.64% for VBR; over five years the annualized figures are +4.05% and +9.62% respectively. Across the full 23-year window we track, VBK has the edge at +9.06% annualized vs +7.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VBK has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 19.0% for VBR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.4% for VBK and -64.0% for VBR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VBK charges 0.05% per year while VBR charges 0.05%. On a $10,000 position that is $5 vs $5 annually. On income, VBK currently yields 0.44% against 1.76% for VBR.
Holdings Overlap
7.9% of VBK's money is in holdings VBR also owns. 5.7% of VBR's money is in holdings VBK also owns.
VBK and VBR share little of their money.
73 positions in common, counted across the 542 positions we hold weights for in VBK and 836 in VBR, against full books of 553 and 847.
What only one of them owns
Our book lists 736 positions for VBR that do not appear in our book for VBK (91.3% of the fund), and 457 for VBK that do not appear in VBR (85.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in VBK | Weight in VBR | Difference |
|---|---|---|---|
| EMEEmcor Group Inc | 0.51% | 0.39% | 0.12% |
| FTAIFTAI Aviation Ltd | 0.76% | 0.10% | 0.66% |
| MKSIMks Instruments Inc | 0.41% | 0.32% | 0.09% |
| FLEX:SIFlex Ltd | 0.41% | 0.32% | 0.09% |
| ILMNIllumina, Inc. | 0.35% | 0.27% | 0.08% |
| UTHRUnited Therapeutics Corp | 0.32% | 0.25% | 0.07% |
| ITTItt Inc | 0.24% | 0.19% | 0.05% |
| WYWeyerhaeuser Co. | 0.24% | 0.18% | 0.06% |
| EQTEQT Corp. | 0.23% | 0.18% | 0.05% |
| ALBAlbemarle Corp. | 0.22% | 0.17% | 0.05% |
You are not choosing between two funds in isolation.
Whichever of VBK and VBR you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VBK or VBR?
VBK has an expense ratio of 0.05% while VBR charges 0.05%. At the precision these are quoted to, they cost the same.
Which performed better, VBK or VBR?
Over the past year VBK returned +11.44% vs +14.52% for VBR, so VBR leads on 1-year performance. Over the longest common window we track (23 years), VBK annualized +9.06% vs +7.75% for VBR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VBK or VBR?
VBK has been the more volatile fund at 19.6% annualized versus 19.0% for VBR. Worst drawdown: VBK -59.4% vs VBR -64.0%.
Should I hold both VBK and VBR?
VBK and VBR have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between VBK and VBR?
7.9% of VBK's money is in holdings VBR also owns. 5.7% of VBR's is in holdings VBK also owns. They hold 73 positions in common, counted across the 542 positions we hold weights for in VBK and 836 in VBR.
Which pays a higher dividend, VBK or VBR?
VBK yields 0.44% while VBR yields 1.76%, so VBR currently pays the higher dividend yield.
Is VBR better than VBK?
VBK led over 3Y and the full window, VBR over 1Y and 5Y. The two have moved almost in lockstep, correlation 0.92. VBR is less concentrated, with 5.9% of the fund in its ten largest positions against 9.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.