VO vs VOE
Vanguard Mid-Cap ETF vs Vanguard Mid-Cap Value ETF
Quick Verdict
VO has a lower expense ratio. VOE delivered stronger 1-year returns. VO offers more diversification with 279 holdings.
Side-by-Side Comparison
| Metric | VO | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $105.9B | $22.9B | |
| Dividend Yield | 1.53% | 2.31% | |
| Holdings | 293 | 177 | |
| YTD Return | +14.37% | +17.73% | |
| 1Y Return | +19.39% | +27.33% | |
| 3Y Return (annualized) | +16.44% | +16.78% | |
| 5Y Return (annualized) | +8.03% | +9.95% | |
| Volatility (annualized) | 16.9% | 17.6% | |
| Max Drawdown | -60.3% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 26, 2004 | Aug 17, 2006 |
VO vs VOE Performance
Vanguard Mid-Cap ETF (VO) is a ETF from Vanguard (US) and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VO returned +19.39% while VOE returned +27.33%. Year to date, VO is up 14.37% versus a gain of 17.73% for VOE.
Over three years, VO compounded at +16.44% per year against +16.78% for VOE; over five years the annualized figures are +8.03% and +9.95% respectively. Across the full 20-year window we track, VO has the edge at +9.23% annualized vs +7.98%. 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 16.9% for VO. 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 -60.3% for VO 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
VO charges 0.03% per year while VOE charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, VO currently yields 1.53% against 2.31% for VOE.
Holdings Overlap
VO and VOE share 168 holdings out of 280 unique holdings combined, representing a 55.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, VO or VOE?
VO has an expense ratio of 0.03% while VOE charges 0.05%. VO is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, VO or VOE?
Over the past year VO returned +19.39% vs +27.33% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (20 years), VO annualized +9.23% vs +7.98% for VOE. Past performance does not guarantee future results.
Which is riskier, VO or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 16.9% for VO. Worst drawdown: VO -60.3% vs VOE -63.4%.
Should I hold both VO and VOE?
VO 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 VO and VOE?
VO and VOE share 168 common holdings with a 55.9% weight overlap. Combined, they hold 280 unique securities.
Which pays a higher dividend, VO or VOE?
VO yields 1.53% while VOE yields 2.31%, so VOE currently pays the higher dividend yield.
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