VOE vs VOO
Vanguard Mid-Cap Value ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOE delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | VOE | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.05% | 0.03% | |
| AUM | $22.9B | $979.0B | |
| Dividend Yield | 2.31% | 1.09% | |
| Holdings | 177 | 509 | |
| YTD Return | +17.73% | +13.44% | |
| 1Y Return | +27.33% | +22.62% | |
| 3Y Return (annualized) | +16.78% | +21.47% | |
| 5Y Return (annualized) | +9.95% | +13.27% | |
| Volatility (annualized) | 17.6% | 14.1% | |
| Max Drawdown | -63.4% | -34.3% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Aug 17, 2006 | Sep 7, 2010 |
VOE vs VOO Performance
Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year VOE returned +27.33% while VOO returned +22.62%. Year to date, VOE is up 17.73% versus a gain of 13.44% for VOO.
Over three years, VOE compounded at +16.78% per year against +21.47% for VOO; over five years the annualized figures are +9.95% and +13.27% respectively. Across the full 16-year window we track, VOO has the edge at +13.55% 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 14.1% for VOO. 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 -63.4% for VOE and -34.3% for VOO. 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
VOE charges 0.05% per year while VOO 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, VOE currently yields 2.31% against 1.09% for VOO.
Holdings Overlap
VOE and VOO share 156 holdings out of 518 unique holdings combined, representing a 9.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VOE or VOO?
VOE has an expense ratio of 0.05% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, VOE or VOO?
Over the past year VOE returned +27.33% vs +22.62% for VOO, so VOE leads on 1-year performance. Over the longest common window we track (16 years), VOE annualized +7.98% vs +13.55% for VOO. Past performance does not guarantee future results.
Which is riskier, VOE or VOO?
VOE has been the more volatile fund at 17.6% annualized versus 14.1% for VOO. Worst drawdown: VOE -63.4% vs VOO -34.3%.
Should I hold both VOE and VOO?
VOE and VOO have a monthly-return correlation of 0.90, 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 VOE and VOO?
VOE and VOO share 156 common holdings with a 9.4% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, VOE or VOO?
VOE yields 2.31% while VOO yields 1.09%, so VOE currently pays the higher dividend yield.
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