VBR vs VTV
Vanguard Morningstar Small-Cap Value ETF vs Vanguard Morningstar Value ETF
Which is better, VBR or VTV?
Small Cap Value against Large Cap Value.
VTV has a lower expense ratio. VBR led over the full window, VTV over 1Y, 3Y 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 22.5%.
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 | VBR | VTV |
|---|---|---|
| Expense Ratio | 0.05% | 0.03%Best |
| AUM | $37.3B | $187.8B |
| Dividend Yield | 1.76% | 1.82% |
| Holdings | 847 | 311 |
| YTD Return | +12.32% | +16.32%Best |
| 1Y Return | +15.68% | +21.94%Best |
| 3Y Return (annualized) | +16.72% | +19.16%Best |
| 5Y Return (annualized) | +9.73% | +13.02%Best |
| Volatility (annualized) | 19.0% | 14.5%Best |
| Max Drawdown | -64.0% | -61.3%Best |
| $10,000 over 5 years | $15,908 | $18,441Best |
| Top 10 Weight | 5.9%Best | 22.5% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Large 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 21, 2026 (22.6 years).
VBR vs VTV 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.
VBR vs VTV Performance
Vanguard Morningstar Small-Cap Value ETF (VBR) is an ETF from Vanguard (US) and Vanguard Morningstar Value ETF (VTV) is an ETF from Vanguard (US). Over the past year VBR returned +15.68% while VTV returned +21.94%. Year to date, VBR is up 12.32% versus a gain of 16.32% for VTV.
Over three years, VBR compounded at +16.72% per year against +19.16% for VTV; over five years the annualized figures are +9.73% and +13.02% respectively. Across the full 23-year window we track, VBR has the edge at +7.76% annualized vs +7.49%.
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 14.5% for VTV. 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 -61.3% for VTV. 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
VBR charges 0.05% per year while VTV charges 0.03%. On a $10,000 position that is $5 vs $3 annually, a gap of $2 per year that compounds over a long holding period. On income, VBR currently yields 1.76% against 1.82% for VTV.
Holdings Overlap
3.6% of VBR's money is in holdings VTV also owns. 0.6% of VTV's money is in holdings VBR also owns.
VBR and VTV share little of their money.
18 positions in common, counted across the 836 positions we hold weights for in VBR and 299 in VTV, against full books of 847 and 311.
What only one of them owns
Our book lists 274 positions for VTV that do not appear in our book for VBR (96.4% of the fund), and 785 for VBR that do not appear in VTV (93.1%).
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 VBR | Weight in VTV | Difference |
|---|---|---|---|
| QQnity Electronics Inc | 0.36% | 0.05% | 0.31% |
| CNCCentene | 0.34% | 0.06% | 0.28% |
| STLDSteel Dynamics, Inc. | 0.34% | 0.06% | 0.28% |
| NINisource Inc. | 0.24% | 0.04% | 0.20% |
| DOWDow Inc. | 0.21% | 0.04% | 0.17% |
| GISGeneral Mills In | 0.20% | 0.04% | 0.16% |
| LNTAlliant Energy Corp. | 0.21% | 0.03% | 0.18% |
| FTVFortive Corp. | 0.20% | 0.03% | 0.17% |
| NVRNvr Inc. | 0.19% | 0.03% | 0.16% |
| TSCOTractor Supply Co. | 0.18% | 0.03% | 0.15% |
You are not choosing between two funds in isolation.
Whichever of VBR and VTV 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, VBR or VTV?
VBR has an expense ratio of 0.05% while VTV charges 0.03%. VTV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, VBR or VTV?
Over the past year VBR returned +15.68% vs +21.94% for VTV, so VTV leads on 1-year performance. Over the longest common window we track (23 years), VBR annualized +7.76% vs +7.49% for VTV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VBR or VTV?
VBR has been the more volatile fund at 19.0% annualized versus 14.5% for VTV. Worst drawdown: VBR -64.0% vs VTV -61.3%.
Should I hold both VBR and VTV?
VBR and VTV 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 VBR and VTV?
3.6% of VBR's money is in holdings VTV also owns. 0.6% of VTV's is in holdings VBR also owns. They hold 18 positions in common, counted across the 836 positions we hold weights for in VBR and 299 in VTV.
Which pays a higher dividend, VBR or VTV?
VBR yields 1.76% while VTV yields 1.82%, so VTV currently pays the higher dividend yield.
Is VTV better than VBR?
VTV has a lower expense ratio. VBR led over the full window, VTV over 1Y, 3Y 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 22.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.