VOE vs VTV
Vanguard Morningstar Mid-Cap Value ETF vs Vanguard Morningstar Value ETF
Which is better, VOE or VTV?
Mid Cap Value against Large Cap Value.
VTV has a lower expense ratio. VOE led over the full window, VTV over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.96. VOE is less concentrated, with 12.7% of the fund in its ten largest positions against 23.6%.
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 | VOE | VTV |
|---|---|---|
| Expense Ratio | 0.05% | 0.03%Best |
| AUM | $23.9B | $187.8B |
| Dividend Yield | 1.81% | 1.85% |
| Holdings | 176 | 311 |
| YTD Return | +18.03% | +18.98%Best |
| 1Y Return | +24.53% | +27.49%Best |
| 3Y Return (annualized) | +17.97% | +19.51%Best |
| 5Y Return (annualized) | +9.88% | +12.52%Best |
| Volatility (annualized) | 17.5% | 15.2%Best |
| Max Drawdown | -63.4% | -61.3%Best |
| $10,000 over 5 years | $16,017 | $18,036Best |
| Top 10 Weight | 12.7%Best | 23.6% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Value |
| Inception | Aug 17, 2006 | Jan 26, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Aug 24, 2006 to Sep 3, 2026 (20 years).
VOE vs VTV 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 20 years both funds cover.
VOE vs VTV Performance
Vanguard Morningstar Mid-Cap Value ETF (VOE) is an ETF from Vanguard (US) and Vanguard Morningstar Value ETF (VTV) is an ETF from Vanguard (US). Over the past year VOE returned +24.53% while VTV returned +27.49%. Year to date, VOE is up 18.03% versus a gain of 18.98% for VTV.
Over three years, VOE compounded at +17.97% per year against +19.51% for VTV; over five years the annualized figures are +9.88% and +12.52% respectively. Across the full 20-year window we track, VOE has the edge at +7.97% annualized vs +7.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 15.2% for VTV. 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 -61.3% for VTV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. 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 VTV 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 1.81% against 1.85% for VTV.
Holdings Overlap
96.3% of VOE's money is in holdings VTV also owns. 22.7% of VTV's money is in holdings VOE also owns.
Most of VOE is already inside VTV. Owning both mostly buys the same companies twice.
164 positions in common, counted across the 169 positions we hold weights for in VOE and 308 in VTV, against full books of 176 and 311.
What only one of them owns
Our book lists 139 positions for VTV that do not appear in our book for VOE (75.2% of the fund), and 3 for VOE that do not appear in VTV (1.7%).
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 VOE | Weight in VTV | Difference |
|---|---|---|---|
| CMICummins Inc. | 1.70% | 0.37% | 1.33% |
| VLOValero Energy | 1.34% | 0.29% | 1.05% |
| MPCMarathon Petroleum Corp | 1.29% | 0.28% | 1.01% |
| CRH:IECrh Plc | 1.24% | 0.27% | 0.97% |
| URIUnited Rentals Inc. | 1.23% | 0.27% | 0.96% |
| GMGeneral Motors Co | 1.20% | 0.26% | 0.94% |
| SLBSchlumberger Nv. | 1.20% | 0.26% | 0.94% |
| SPGSimon Property Group Inc | 1.19% | 0.26% | 0.93% |
| PSXPhillips 66 | 1.17% | 0.25% | 0.92% |
| WBDWarner Bros. Discovery, Inc | 1.10% | 0.24% | 0.86% |
96.3% of VOE is already inside VTV.
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, VOE or VTV?
VOE has an expense ratio of 0.05% while VTV charges 0.03%. VTV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, VOE or VTV?
Over the past year VOE returned +24.53% vs +27.49% for VTV, so VTV leads on 1-year performance. Over the longest common window we track (20 years), VOE annualized +7.97% vs +7.35% for VTV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VOE or VTV?
VOE has been the more volatile fund at 17.5% annualized versus 15.2% for VTV. Worst drawdown: VOE -63.4% vs VTV -61.3%.
Should I hold both VOE and VTV?
VOE and VTV have a monthly-return correlation of 0.96, 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 VOE and VTV?
96.3% of VOE's money is in holdings VTV also owns. 22.7% of VTV's is in holdings VOE also owns. They hold 164 positions in common, counted across the 169 positions we hold weights for in VOE and 308 in VTV.
Which pays a higher dividend, VOE or VTV?
VOE yields 1.81% while VTV yields 1.85%, so VTV currently pays the higher dividend yield.
Is VTV better than VOE?
VTV has a lower expense ratio. VOE led over the full window, VTV over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.96. VOE is less concentrated, with 12.7% of the fund in its ten largest positions against 23.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.