Data as of Oct 28, 2026.
VO vs VOX: Differences, Returns & Fees
Over the year to Oct 28, 2026, VO returned +12.8% to VOX's −5.7%; 2% of their weight is in the same names.
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Net assets on Sep 30, 2026: $103.4bn for Vanguard Morningstar Mid-Cap ETF and $6.0bn for Vanguard Communication Services ETF.
Pair scorecard
VO costs 0.06 points a year less; their one-year returns differ by 18.5 points; VO is 17.2 times larger.
| Measure | VO | VOX |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.8% | −5.7% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | 10.8%, high on Jan 29, 2026 |
| Benchmark | ||
| What it tracks | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) | MSCI US Investable Market Index (IMI)/Communication Services 25/50 |
| Cost and size | ||
| Expense ratio | 0.03% | 0.09% |
| Net assets, as of Sep 30, 2026 | $103.4bn | $6.0bn |
| Holdings | ||
| Holdings in common | 2% | |
| Top ten holdings, share of the fund | 9.7% | 71.1% |
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 +478.6%. VO and VOX swung about the same: 19.7% and 19.7%. VOX fell slightly less at its worst: −54.8% to −58.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VO | VOX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +782.2% | +478.6% | VO | Price change plus distributions, reinvested. |
| Annualized | +10.3% | +8.3% | VO | Total return as a yearly rate. |
| Price return | +535.6% | +252.8% | VO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.7% | 19.7% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.9% | 13.6% | VOX (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −58.4% | −54.8% | VOX (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.51 | 0.41 | VO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.72 | 0.59 | VO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.18 | 0.15 | 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, VO and VOX 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
VO and VOX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VO and VOX do different jobs. What does each one do in a portfolio?
- What each follows. VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) and VOX follows MSCI US Investable Market Index (IMI)/Communication Services 25/50.
- 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 VO returned +12.8% and VOX −5.7% with distributions reinvested, a gap of 18.5 points.
Data as of Oct 28, 2026.
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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.
VOX
VOX tracks an index of Communication Services. Over the year to Oct 28, 2026 it returned −5.7% with distributions reinvested, against −5.9% for its benchmark, the MSCI US Investable Market Index (IMI)/Communication Services 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 84% of the fund by weight is stocks the S&P 500 also holds, across 113 positions, with the top ten at 71.1%. It sat 10.8% below its high of Jan 29, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VO or VOX?
- In the year to Oct 28, 2026, with distributions reinvested, VO returned +12.8% and VOX −5.7%.
- Which is cheaper, VO or VOX?
- 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, VO against VOX, data as of Oct 28, 2026. https://etfiq.com/compare/any/vo-vs-vox
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