Data as of Oct 28, 2026.
VDE vs VO: Differences, Returns & Fees
Over the year to Oct 28, 2026, VDE returned +58.8% to VO's +12.8%; 9% of their weight is in the same names.
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Net assets on Sep 30, 2026: $10.4bn for Vanguard Energy ETF and $103.4bn for Vanguard Morningstar Mid-Cap ETF.
Pair scorecard
VO costs 0.06 points a year less; their one-year returns differ by 46.0 points; VO is 9.9 times larger.
| Measure | VDE | VO |
|---|---|---|
| Return | ||
| Total return, 1 year | +58.8% | +12.8% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | MSCI US Investable Market Index (IMI)/Energy 25/50 | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) |
| Cost and size | ||
| Expense ratio | 0.09% | 0.03% |
| Net assets, as of Sep 30, 2026 | $10.4bn | $103.4bn |
| Holdings | ||
| Holdings in common | 9% | |
| Top ten holdings, share of the fund | 67.1% | 9.7% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Oct 8, 2004 to Oct 23, 2026 · 1,150 weekly returnsVO returned more: +782.2% to +538.7%. VO swung less: 19.7% to 28.1%. VO fell less at its worst: −58.4% to −72.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VDE | VO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +538.7% | +782.2% | VO | Price change plus distributions, reinvested. |
| Annualized | +8.7% | +10.3% | VO | Total return as a yearly rate. |
| Price return | +269.6% | +535.6% | VO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 28.1% | 19.7% | VO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 20.1% | 13.9% | VO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −72.2% | −58.4% | VO | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.38 | 0.51 | VO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.53 | 0.72 | VO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.12 | 0.18 | VO | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,150 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VDE and VO hold 9% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
9% in common
Only in one fund ↓
Side by side
VDE and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VDE and VO do different jobs. What does each one do in a portfolio?
- What each follows. VDE follows MSCI US Investable Market Index (IMI)/Energy 25/50 and VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index).
- Holdings in common. 9% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VDE returned +58.8% and VO +12.8% with distributions reinvested, a gap of 46.0 points.
Data as of Oct 28, 2026.
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VDE
VDE tracks an index of Energy. Over the year to Oct 28, 2026 it returned +58.8% with distributions reinvested, against +59.0% for its benchmark, the MSCI US Investable Market Index (IMI)/Energy 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 81% of the fund by weight is stocks the S&P 500 also holds, across 113 positions, with the top ten at 67.1%.
VO
VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VDE or VO?
- In the year to Oct 28, 2026, with distributions reinvested, VDE returned +58.8% and VO +12.8%.
- Which is cheaper, VDE or VO?
- VO is cheaper, by 0.06 percentage points a year. That is about $6 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, VDE against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/vde-vs-vo
ETFIQ. (Oct 28, 2026). VDE against VO. Retrieved from https://etfiq.com/compare/any/vde-vs-vo
[VDE against VO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vde-vs-vo)
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