VO vs VXF
Vanguard Morningstar Mid-Cap ETF vs Vanguard Extended Market ETF
Which is better, VO or VXF?
Nearly the same fund. VO costs less.
VO has a lower expense ratio. VO led over 5Y and the full window, VXF over 1Y and 3Y. The two have moved almost in lockstep, correlation 0.97.
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 | VO | VXF |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.05% |
| AUM | $106.6B | $30.5B |
| Dividend Yield | 1.30% | 1.01% |
| Holdings | 289 | 3,385 |
| YTD Return | +10.02% | +11.83%Best |
| 1Y Return | +10.96% | +12.43%Best |
| 3Y Return (annualized) | +16.82% | +19.49%Best |
| 5Y Return (annualized) | +7.05%Best | +5.74% |
| Volatility (annualized) | 16.9%Best | 18.8% |
| Max Drawdown | -60.3% | -59.4%Best |
| $10,000 over 5 years | $14,058Best | $13,219 |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Jan 26, 2004 | Dec 27, 2001 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 30, 2004 to Sep 23, 2026 (22.6 years).
VO 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 22.6 years both funds cover.
VO vs VXF Performance
Vanguard Morningstar Mid-Cap ETF (VO) is an ETF from Vanguard (US) and Vanguard Extended Market ETF (VXF) is an ETF from Vanguard (US). Over the past year VO returned +10.96% while VXF returned +12.43%. Year to date, VO is up 10.02% versus a gain of 11.83% for VXF.
Over three years, VO compounded at +16.82% per year against +19.49% for VXF; over five years the annualized figures are +7.05% and +5.74% respectively. Across the full 23-year window we track, VO has the edge at +9.00% annualized vs +8.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VXF has been the more volatile fund, with annualized monthly volatility of 18.8% 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 -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 0.97. 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 VXF 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 1.30% against 1.01% for VXF.
Holdings Overlap
At least 7.5% of VO's money is in holdings VXF also owns.
Stated as a floor: for VXF, our book for it covers 94.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VO and VXF share little of their money.
32 positions in common, counted across the 283 positions we hold weights for in VO and 3,296 in VXF, against full books of 289 and 3,385.
Top Shared Holdings
| Stock | Weight in VO | Weight in VXF | Difference |
|---|---|---|---|
| NETCloudflare Inc (180 Day Lockup) | 0.86% | 0.89% | 0.03% |
| SNOWSnowflake Inc | 0.46% | 1.00% | 0.54% |
| BECfd Bloom Energy Corp- A | 0.53% | 0.90% | 0.37% |
| LNGCheniere Energy Inc. | 0.53% | 0.57% | 0.04% |
| FERGFerguson Enterprises | 0.44% | 0.52% | 0.08% |
| ALABAstera Labs Inc - Common | 0.23% | 0.73% | 0.50% |
| RKLBRocket Lab Corp | 0.36% | 0.59% | 0.23% |
| ALNYAlnylam Pharmaceuticals Inc. | 0.26% | 0.45% | 0.19% |
| SUNBSunbelt Rentals | 0.29% | 0.35% | 0.06% |
| MSTRMicrostrategy Inc | 0.30% | 0.33% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of VO and VXF 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, VO or VXF?
VO has an expense ratio of 0.03% while VXF charges 0.05%. VO is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, VO or VXF?
Over the past year VO returned +10.96% vs +12.43% for VXF, so VXF leads on 1-year performance. Over the longest common window we track (23 years), VO annualized +9.00% vs +8.91% for VXF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VO or VXF?
VXF has been the more volatile fund at 18.8% annualized versus 16.9% for VO. Worst drawdown: VO -60.3% vs VXF -59.4%.
Should I hold both VO and VXF?
VO and VXF have a monthly-return correlation of 0.97, 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 VO and VXF?
At least 7.5% of VO's money is in holdings VXF also owns. Our book for VXF is partial, so the real figure is this or higher. They hold 32 positions in common, counted across the 283 positions we hold weights for in VO and 3,296 in VXF.
Which pays a higher dividend, VO or VXF?
VO yields 1.30% while VXF yields 1.01%, so VO currently pays the higher dividend yield.
Is VXF better than VO?
VO has a lower expense ratio. VO led over 5Y and the full window, VXF over 1Y and 3Y. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.