Data as of Oct 28, 2026.
VO vs VXF: Differences, Returns & Fees
Over the year to Oct 28, 2026, VO returned +12.8% to VXF's +10.6%; 8% 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 $30.2bn for Vanguard Extended Market ETF.
Pair scorecard
VO costs 0.02 points a year less; their one-year returns differ by 2.2 points; VO is 3.4 times larger.
| Measure | VO | VXF |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.8% | +10.6% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | 6.6%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) | S&P Completion Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.05% |
| Net assets, as of Sep 30, 2026 | $103.4bn | $30.2bn |
| Holdings | ||
| Holdings in common | 8% | |
| Top ten holdings, share of the fund | 9.7% | 11.3% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsVO returned slightly more: +797.9% to +740.7%. VO swung slightly less: 19.6% to 21.5%. VO and VXF fell about the same at their worst: −58.4% and −57.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VO | VXF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +797.9% | +740.7% | VO (slight) | Price change plus distributions, reinvested. |
| Annualized | +10.1% | +9.8% | VO (slight) | Total return as a yearly rate. |
| Price return | +546.9% | +527.0% | VO (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.6% | 21.5% | VO (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.8% | 15.1% | VO (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −58.4% | −57.4% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.50 | 0.46 | VO (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.71 | 0.65 | VO (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.17 | 0.17 | Tie | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VO and VXF hold 8% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
8% in common
Only in one fund ↓
Side by side
VO and VXF on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VO and VXF are built for the same job. How do they differ in cost, holdings and results?
- What each follows. VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) and VXF follows S&P Completion Index.
- Holdings in common. 8% 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 VXF +10.6% with distributions reinvested, a gap of 2.2 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.
VXF
VXF tracks an index of Extended Market. Over the year to Oct 28, 2026 it returned +10.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,361 positions, with the top ten at 11.3%. It sat 6.6% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VO or VXF?
- In the year to Oct 28, 2026, with distributions reinvested, VO returned +12.8% and VXF +10.6%.
- Which is cheaper, VO or VXF?
- VO 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, VO against VXF, data as of Oct 28, 2026. https://etfiq.com/compare/any/vo-vs-vxf
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