VOE vs VV
Vanguard Morningstar Mid-Cap Value ETF vs Vanguard Morningstar Large-Cap ETF
Which is better, VOE or VV?
Mid Cap Value against Large Cap Blend.
VV has a lower expense ratio. VOE led over 1Y, VV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. VOE is less concentrated, with 13.1% of the fund in its ten largest positions against 38.0%.
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 | VV |
|---|---|---|
| Expense Ratio | 0.05% | 0.03%Best |
| AUM | $23.9B | $52.6B |
| Dividend Yield | 1.80% | 0.99% |
| Holdings | 176 | 437 |
| YTD Return | +14.09%Best | +12.38% |
| 1Y Return | +19.17%Best | +16.34% |
| 3Y Return (annualized) | +16.64% | +21.61%Best |
| 5Y Return (annualized) | +10.14% | +13.10%Best |
| Volatility (annualized) | 17.6% | 15.5%Best |
| Max Drawdown | -63.4% | -56.0%Best |
| $10,000 over 5 years | $16,208 | $18,506Best |
| Top 10 Weight | 13.1%Best | 38.0% |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Aug 17, 2006 | Jan 27, 2004 |
Volatility and max drawdown are measured over the window both funds cover: Aug 24, 2006 to Sep 18, 2026 (20.1 years).
VOE vs VV 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 20.1 years both funds cover.
VOE vs VV Performance
Vanguard Morningstar Mid-Cap Value ETF (VOE) is an ETF from Vanguard (US) and Vanguard Morningstar Large-Cap ETF (VV) is an ETF from Vanguard (US). Over the past year VOE returned +19.17% while VV returned +16.34%. Year to date, VOE is up 14.09% versus a gain of 12.38% for VV.
Over three years, VOE compounded at +16.64% per year against +21.61% for VV; over five years the annualized figures are +10.14% and +13.10% respectively. Across the full 20-year window we track, VV has the edge at +9.85% annualized vs +7.77%.
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 15.5% for VV. 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 -56.0% for VV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. 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 VV 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 1.80% against 0.99% for VV.
Holdings Overlap
98.3% of VOE's money is in holdings VV also owns. 10.5% of VV's money is in holdings VOE also owns.
Most of VOE is already inside VV. Owning both mostly buys the same companies twice.
169 positions in common, counted across the 171 positions we hold weights for in VOE and 431 in VV, against full books of 176 and 437.
What only one of them owns
Our book lists 256 positions for VV that do not appear in our book for VOE (89.0% of the fund), and 2 for VOE that do not appear in VV (1.8%).
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 VV | Difference |
|---|---|---|---|
| VLOValero Energy | 1.55% | 0.15% | 1.40% |
| MPCMarathon Petroleum Corp | 1.54% | 0.15% | 1.39% |
| CMICummins Inc. | 1.46% | 0.14% | 1.32% |
| PSXPhillips 66 | 1.41% | 0.13% | 1.28% |
| GMGeneral Motors Co | 1.34% | 0.13% | 1.21% |
| SLBSchlumberger Nv. | 1.24% | 0.12% | 1.12% |
| SPGSimon Property Group Inc | 1.18% | 0.11% | 1.07% |
| PCARPaccar Inc. | 1.16% | 0.11% | 1.05% |
| ALLAllstate Corp. | 1.13% | 0.11% | 1.02% |
| URIUnited Rentals Inc. | 1.13% | 0.11% | 1.02% |
98.3% of VOE is already inside VV.
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 VV?
VOE has an expense ratio of 0.05% while VV charges 0.03%. VV is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, VOE or VV?
Over the past year VOE returned +19.17% vs +16.34% for VV, so VOE leads on 1-year performance. Over the longest common window we track (20 years), VOE annualized +7.77% vs +9.85% for VV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VOE or VV?
VOE has been the more volatile fund at 17.6% annualized versus 15.5% for VV. Worst drawdown: VOE -63.4% vs VV -56.0%.
Should I hold both VOE and VV?
VOE and VV have a monthly-return correlation of 0.92, 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 VV?
98.3% of VOE's money is in holdings VV also owns. 10.5% of VV's is in holdings VOE also owns. They hold 169 positions in common, counted across the 171 positions we hold weights for in VOE and 431 in VV.
Which pays a higher dividend, VOE or VV?
VOE yields 1.80% while VV yields 0.99%, so VOE currently pays the higher dividend yield.
Is VV better than VOE?
VV has a lower expense ratio. VOE led over 1Y, VV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. VOE is less concentrated, with 13.1% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.