VOE vs VXF
Vanguard Morningstar Mid-Cap Value ETF vs Vanguard Extended Market ETF
Which is better, VOE or VXF?
Mid Cap Value against Mid Cap Blend.
VOE led over 1Y and 5Y, VXF over 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. VXF is less concentrated, with 6.7% of the fund in its ten largest positions against 13.1%.
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 | VXF |
|---|---|---|
| Expense Ratio | 0.05%Tie | 0.05%Tie |
| AUM | $24.2B | $31.4B |
| Dividend Yield | 1.80% | 1.01% |
| Holdings | 174 | 3,385 |
| YTD Return | +12.30%Best | +12.08% |
| 1Y Return | +15.95%Best | +12.54% |
| 3Y Return (annualized) | +18.38% | +20.69%Best |
| 5Y Return (annualized) | +9.39%Best | +6.59% |
| Volatility (annualized) | 17.6%Best | 19.5% |
| Max Drawdown | -63.4% | -59.4%Best |
| $10,000 over 5 years | $15,663Best | $13,759 |
| Top 10 Weight | 13.1% | 6.7%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Mid Cap Blend |
| Inception | Aug 17, 2006 | Dec 27, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Aug 24, 2006 to Oct 2, 2026 (20.1 years).
VOE 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 20.1 years both funds cover.
VOE vs VXF Performance
Vanguard Morningstar Mid-Cap Value ETF (VOE) is an ETF from Vanguard (US) and Vanguard Extended Market ETF (VXF) is an ETF from Vanguard (US). Over the past year VOE returned +15.95% while VXF returned +12.54%. Year to date, VOE is up 12.30% versus a gain of 12.08% for VXF.
Over three years, VOE compounded at +18.38% per year against +20.69% for VXF; over five years the annualized figures are +9.39% and +6.59% respectively. Across the full 20-year window we track, VXF has the edge at +8.83% annualized vs +7.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VXF has been the more volatile fund, with annualized monthly volatility of 19.5% compared with 17.6% for VOE. 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 -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 0.93. 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 VXF charges 0.05%. On a $10,000 position that is $5 vs $5 annually. On income, VOE currently yields 1.80% against 1.01% for VXF.
Holdings Overlap
4.9% of VOE's money is in holdings VXF also owns. 2.9% of VXF's money is in holdings VOE also owns.
VOE and VXF share little of their money.
10 positions in common, counted across the 171 positions we hold weights for in VOE and 3,278 in VXF, against full books of 174 and 3,385.
What only one of them owns
Our book lists 1,714 positions for VXF that do not appear in our book for VOE (89.3% of the fund), and 157 for VOE that do not appear in VXF (92.8%).
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 VXF | Difference |
|---|---|---|---|
| LNGCheniere Energy Inc. | 0.92% | 0.66% | 0.26% |
| FERGFerguson Enterprises | 0.76% | 0.55% | 0.21% |
| PSAPublic Storage | 0.91% | 0.00% | 0.91% |
| MSTRMicrostrategy Inc | 0.51% | 0.37% | 0.14% |
| ZMZoom Communications Inc | 0.40% | 0.31% | 0.09% |
| SUNBSunbelt Rentals | 0.25% | 0.35% | 0.10% |
| CURVVanguard Market Liquidity Fund | 0.56% | 0.00% | 0.56% |
| MKLMarkel Group Inc | 0.19% | 0.28% | 0.09% |
| MDLNMedline Inc | 0.26% | 0.19% | 0.07% |
| SSNCSs&C Technologies Holdings Inc. | 0.13% | 0.19% | 0.06% |
You are not choosing between two funds in isolation.
Whichever of VOE 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, VOE or VXF?
VOE has an expense ratio of 0.05% while VXF charges 0.05%. At the precision these are quoted to, they cost the same.
Which performed better, VOE or VXF?
Over the past year VOE returned +15.95% vs +12.54% for VXF, so VOE leads on 1-year performance. Over the longest common window we track (20 years), VOE annualized +7.67% vs +8.83% for VXF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, VOE or VXF?
VXF has been the more volatile fund at 19.5% annualized versus 17.6% for VOE. Worst drawdown: VOE -63.4% vs VXF -59.4%.
Should I hold both VOE and VXF?
VOE and VXF have a monthly-return correlation of 0.93, 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 VXF?
4.9% of VOE's money is in holdings VXF also owns. 2.9% of VXF's is in holdings VOE also owns. They hold 10 positions in common, counted across the 171 positions we hold weights for in VOE and 3,278 in VXF.
Which pays a higher dividend, VOE or VXF?
VOE yields 1.80% while VXF yields 1.01%, so VOE currently pays the higher dividend yield.
Is VXF better than VOE?
VOE led over 1Y and 5Y, VXF over 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. VXF is less concentrated, with 6.7% of the fund in its ten largest positions against 13.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.