VIITX vs VOE
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class vs Vanguard Mid-Cap Value ETF
Quick Verdict
VIITX has a lower expense ratio. VOE delivered stronger 1-year returns. VIITX offers more diversification with 1185 holdings.
Side-by-Side Comparison
| Metric | VIITX | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.05% | |
| AUM | - | $22.9B | |
| Dividend Yield | 4.56% | 2.31% | |
| Holdings | 2,599 | 177 | |
| YTD Return | -2.03% | +17.85% | |
| 1Y Return | -1.44% | +25.84% | |
| 3Y Return (annualized) | +0.54% | +16.80% | |
| 5Y Return (annualized) | -2.33% | +9.99% | |
| Volatility (annualized) | 4.2% | 17.6% | |
| Max Drawdown | -15.0% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Dec 1, 1997 | Aug 17, 2006 |
VIITX vs VOE Performance
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class (VIITX) is a mutual fund from Vanguard (US) and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VIITX returned -1.44% while VOE returned +25.84%. Year to date, VIITX is down 2.03% versus a gain of 17.85% for VOE.
Over three years, VIITX compounded at +0.54% per year against +16.80% for VOE; over five years the annualized figures are -2.33% and +9.99% respectively. Across the full 5-year window we track, VOE has the edge at +7.99% annualized vs -2.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 4.2% for VIITX. 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 -15.0% for VIITX 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
VIITX charges 0.02% per year while VOE charges 0.05%. On a $10,000 position that is $2 vs $5 annually, a gap of $3 per year that compounds over a long holding period. On income, VIITX currently yields 4.56% against 2.31% for VOE.
Holdings Overlap
VIITX and VOE share 1 holdings out of 1353 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in VIITX | Weight in VOE | Difference |
|---|---|---|---|
| CAH | 0.08% | 0.96% | 0.88% |
Frequently Asked Questions
Which is cheaper, VIITX or VOE?
VIITX has an expense ratio of 0.02% while VOE charges 0.05%. VIITX is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, VIITX or VOE?
Over the past year VIITX returned -1.44% vs +25.84% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (5 years), VIITX annualized -2.33% vs +7.99% for VOE. Past performance does not guarantee future results.
Which is riskier, VIITX or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 4.2% for VIITX. Worst drawdown: VIITX -15.0% vs VOE -63.4%.
Should I hold both VIITX and VOE?
VIITX and VOE have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VIITX and VOE?
VIITX and VOE share 1 common holdings with a 0.1% weight overlap. Combined, they hold 1353 unique securities.
Which pays a higher dividend, VIITX or VOE?
VIITX yields 4.56% while VOE yields 2.31%, so VIITX currently pays the higher dividend yield.
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