Data as of Oct 28, 2026.
VB vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, VB returned +14.4% to VOE's +22.8%; 2% of their weight is in the same names.
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Net assets on Sep 30, 2026: $76.9bn for Vanguard Morningstar Small-Cap ETF and $22.8bn for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VB costs 0.02 points a year less; their one-year returns differ by 8.4 points; VB is 3.4 times larger.
| Measure | VB | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.4% | +22.8% |
| Drawdown | ||
| Below its high | 5.7%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Morningstar US Small Cap Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.05% |
| Net assets, as of Sep 30, 2026 | $76.9bn | $22.8bn |
| Holdings | ||
| Holdings in common | 2% | |
| Top ten holdings, share of the fund | 5.9% | 14.0% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Sep 1, 2006 to Oct 23, 2026 · 1,051 weekly returnsVB and VOE returned about the same: +515.1% and +515.4%. VOE swung slightly less: 20.4% to 22.2%. VB fell slightly less at its worst: −58.8% to −61.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VB | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +515.1% | +515.4% | Tie | Price change plus distributions, reinvested. |
| Annualized | +9.4% | +9.4% | Tie | Total return as a yearly rate. |
| Price return | +354.6% | +301.7% | VB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.2% | 20.4% | VOE (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.6% | 14.5% | VOE (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −58.8% | −61.2% | VB (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.44 | 0.46 | VOE (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.63 | 0.65 | VOE (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.15 | VB (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,051 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VB and VOE hold 2% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
2% in common
Only in one fund ↓
Side by side
VB and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VB and VOE do different jobs. What does each one do in a portfolio?
- What each follows. VB follows Morningstar US Small Cap Index and VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 2% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VB returned +14.4% and VOE +22.8% with distributions reinvested, a gap of 8.4 points.
Data as of Oct 28, 2026.
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VB
VB tracks an index of Small-Cap. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 22% of the fund by weight is stocks the S&P 500 also holds, across 1,303 positions, with the top ten at 5.9%. It sat 5.7% below its high of Aug 14, 2026 on Oct 28, 2026.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, VB or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, VB returned +14.4% and VOE +22.8%.
- Which is cheaper, VB or VOE?
- VB is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, VB against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/vb-vs-voe
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