VBR vs VOE
Vanguard Morningstar Small-Cap Value ETF vs Vanguard Morningstar Mid-Cap Value ETF
Quick Verdict
VOE delivered stronger 1-year returns. VBR offers more diversification with 847 holdings.
Side-by-Side Comparison
| Metric | VBR | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.05% | 0.05% | |
| AUM | $37.3B | $23.9B | |
| Dividend Yield | 1.76% | 1.81% | |
| Holdings | 847 | 176 | |
| YTD Return | +14.80% | +16.11% | |
| 1Y Return | +19.71% | +22.28% | |
| 3Y Return (annualized) | +16.03% | +17.36% | |
| 5Y Return (annualized) | +9.16% | +9.56% | |
| Volatility (annualized) | 19.0% | 17.5% | |
| Max Drawdown | -64.0% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 26, 2004 | Aug 17, 2006 |
VBR vs VOE Performance
Vanguard Morningstar Small-Cap Value ETF (VBR) is a ETF from Vanguard (US) and Vanguard Morningstar Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VBR returned +19.71% while VOE returned +22.28%. Year to date, VBR is up 14.80% versus a gain of 16.11% for VOE.
Over three years, VBR compounded at +16.03% per year against +17.36% for VOE; over five years the annualized figures are +9.16% and +9.56% respectively. Across the full 20-year window we track, VBR has the edge at +7.88% annualized vs +7.88%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VBR has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 17.5% for VOE. 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 -64.0% for VBR and -63.4% for VOE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VBR charges 0.05% per year while VOE charges 0.05%. On a $10,000 position that is $5 vs $5 annually. On income, VBR currently yields 1.76% against 1.81% for VOE.
Holdings Overlap
VBR and VOE share 16 holdings out of 989 unique holdings combined, representing a 2.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VBR or VOE?
VBR has an expense ratio of 0.05% while VOE charges 0.05%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, VBR or VOE?
Over the past year VBR returned +19.71% vs +22.28% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (20 years), VBR annualized +7.88% vs +7.88% for VOE. Past performance does not guarantee future results.
Which is riskier, VBR or VOE?
VBR has been the more volatile fund at 19.0% annualized versus 17.5% for VOE. Worst drawdown: VBR -64.0% vs VOE -63.4%.
Should I hold both VBR and VOE?
VBR and VOE have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between VBR and VOE?
VBR and VOE share 16 common holdings with a 2.6% weight overlap. Combined, they hold 989 unique securities.
Which pays a higher dividend, VBR or VOE?
VBR yields 1.76% while VOE yields 1.81%, so VOE currently pays the higher dividend yield.
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