VBR vs VXF
Vanguard Morningstar Small-Cap Value ETF vs Vanguard Extended Market ETF
Which is better, VBR or VXF?
Small Cap Value against Mid Cap Blend.
VBR led over 1Y and 5Y, VXF over 3Y and the full window. The two have moved almost in lockstep, correlation 0.95. VBR is less concentrated, with 5.6% of the fund in its ten largest positions against 6.7%.
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 | VXF |
|---|---|---|
| Expense Ratio | 0.05%Tie | 0.05%Tie |
| AUM | $37.3B | $31.4B |
| Dividend Yield | 1.76% | 1.01% |
| Holdings | 839 | 3,385 |
| YTD Return | +11.07% | +11.21%Best |
| 1Y Return | +16.81%Best | +12.57% |
| 3Y Return (annualized) | +17.16% | +20.09%Best |
| 5Y Return (annualized) | +8.51%Best | +6.04% |
| Volatility (annualized) | 19.0% | 18.8%Best |
| Max Drawdown | -64.0% | -59.4%Best |
| $10,000 over 5 years | $15,043Best | $13,408 |
| Top 10 Weight | 5.6%Best | 6.7% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Small Cap Value | Mid Cap Blend |
| Inception | Jan 26, 2004 | Dec 27, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Jan 30, 2004 to Oct 12, 2026 (22.7 years).
VBR vs VXF 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 22.7 years both funds cover.
VBR vs VXF Performance
Vanguard Morningstar Small-Cap Value ETF (VBR) is an ETF from Vanguard (US) and Vanguard Extended Market ETF (VXF) is an ETF from Vanguard (US). Over the past year VBR returned +16.81% while VXF returned +12.57%. Year to date, VBR is up 11.07% versus a gain of 11.21% for VXF.
Over three years, VBR compounded at +17.16% per year against +20.09% for VXF; over five years the annualized figures are +8.51% and +6.04% respectively. Across the full 23-year window we track, VXF has the edge at +8.86% annualized vs +7.68%.
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 18.8% for VXF. 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 -59.4% for VXF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. 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 VXF charges 0.05%. On a $10,000 position that is $5 vs $5 annually. On income, VBR currently yields 1.76% against 1.01% for VXF.
Holdings Overlap
68.5% of VBR's money is in holdings VXF also owns. 41.5% of VXF's money is in holdings VBR also owns.
The two portfolios partly overlap.
695 positions in common, counted across the 810 positions we hold weights for in VBR and 3,278 in VXF, against full books of 839 and 3,385.
What only one of them owns
Our book lists 1,059 positions for VXF that do not appear in our book for VBR (51.6% of the fund), and 110 for VBR that do not appear in VXF (29.6%).
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 VXF | Difference |
|---|---|---|---|
| USFDUS Foods Holding Corp | 0.47% | 0.27% | 0.20% |
| THCTenet Healthcare Corp Common Stock Usd 0.05 | 0.47% | 0.26% | 0.21% |
| RSReliance Steel & Aluminum Co. | 0.44% | 0.25% | 0.19% |
| ILMNIllumina, Inc. | 0.31% | 0.37% | 0.06% |
| SNXSynnex Corp | 0.39% | 0.23% | 0.16% |
| EWBCEast West Bancorp, Inc. | 0.38% | 0.22% | 0.16% |
| FCNCAFirst Citizens BancShares Inc | 0.35% | 0.24% | 0.11% |
| OVVOvintiv Inc. | 0.37% | 0.21% | 0.16% |
| PFGCPerformance Food Group Co | 0.36% | 0.22% | 0.14% |
| WCCWesco International Inc | 0.36% | 0.20% | 0.16% |
68.5% of VBR is already inside VXF.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VBR or VXF?
VBR has an expense ratio of 0.05% while VXF charges 0.05%. At the precision these are quoted to, they cost the same.
Which performed better, VBR or VXF?
Over the past year VBR returned +16.81% vs +12.57% for VXF, so VBR leads on 1-year performance. Over the longest common window we track (23 years), VBR annualized +7.68% vs +8.86% for VXF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VBR or VXF?
VBR has been the more volatile fund at 19.0% annualized versus 18.8% for VXF. Worst drawdown: VBR -64.0% vs VXF -59.4%.
Should I hold both VBR and VXF?
VBR and VXF have a monthly-return correlation of 0.95, 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 VXF?
68.5% of VBR's money is in holdings VXF also owns. 41.5% of VXF's is in holdings VBR also owns. They hold 695 positions in common, counted across the 810 positions we hold weights for in VBR and 3,278 in VXF.
Which pays a higher dividend, VBR or VXF?
VBR yields 1.76% while VXF yields 1.01%, so VBR currently pays the higher dividend yield.
Is VXF better than VBR?
VBR led over 1Y and 5Y, VXF over 3Y and the full window. The two have moved almost in lockstep, correlation 0.95. VBR is less concentrated, with 5.6% of the fund in its ten largest positions against 6.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.