Data as of Oct 28, 2026.
VOE vs VTWO: Differences, Returns & Fees
Over the year to Oct 28, 2026, VOE returned +22.8% to VTWO's +14.3%; 0% of their weight is in the same names.
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Net assets on Sep 30, 2026: $22.8bn for Vanguard Morningstar Mid-Cap Value ETF and $16.6bn for Vanguard Russell 2000 ETF.
Pair scorecard
VOE costs 0.01 points a year less; their one-year returns differ by 8.5 points; VOE is 1.4 times larger.
| Measure | VOE | VTWO |
|---|---|---|
| Return | ||
| Total return, 1 year | +22.8% | +14.3% |
| Drawdown | ||
| Below its high | 7.5%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Morningstar US Mid Cap Value Index | Russell 2000 Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.06% |
| Net assets, as of Sep 30, 2026 | $22.8bn | $16.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 14.0% | 5.4% |
Holdings in common uses holdings dated Sep 30, 2026. Method
Risk and return
Oct 1, 2010 to Oct 23, 2026 · 838 weekly returnsVOE returned more: +507.3% to +409.2%. VOE swung less: 17.7% to 21.0%. VOE and VTWO fell about the same at their worst: −40.6% and −40.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VOE | VTWO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +507.3% | +409.2% | VOE | Price change plus distributions, reinvested. |
| Annualized | +11.8% | +10.6% | VOE | Total return as a yearly rate. |
| Price return | +327.6% | +315.9% | VOE (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.7% | 21.0% | VOE | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.4% | 14.5% | VOE | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −40.2% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.63 | 0.51 | VOE | Return above Treasury bills per unit of volatility. |
| Sortino | 0.90 | 0.74 | VOE | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.29 | 0.26 | VOE (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 838 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VOE and VTWO hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
VOE and VTWO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VOE and VTWO do different jobs. What does each one do in a portfolio?
- What each follows. VOE follows Morningstar US Mid Cap Value Index and VTWO follows Russell 2000 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VOE returned +22.8% and VTWO +14.3% with distributions reinvested, a gap of 8.5 points.
Data as of Oct 28, 2026.
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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%.
VTWO
VTWO tracks the Russell 2000. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested, against +14.1% for its benchmark, the Russell 2000 Index. The prospectus expense ratio is 0.06% 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 2,002 positions, with the top ten at 5.4%. It sat 7.5% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, VOE or VTWO?
- In the year to Oct 28, 2026, with distributions reinvested, VOE returned +22.8% and VTWO +14.3%.
- Which is cheaper, VOE or VTWO?
- VOE is cheaper, by 0.01 percentage points a year. That is about $1 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, VOE against VTWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/voe-vs-vtwo
ETFIQ. (Oct 28, 2026). VOE against VTWO. Retrieved from https://etfiq.com/compare/any/voe-vs-vtwo
[VOE against VTWO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/voe-vs-vtwo)
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