VOE — Vanguard Mid-Cap Value Index Fund ETF Shares
US Mid Cap Ranked #20 of 458 tracked ETFs · Issued by Vanguard
VOE Price Performance — Growth of $10,000
Value of a $10,000 investment in VOE over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
VOE Drawdown
The "underwater" chart: VOE's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in VOE?
See what a lump sum in VOE would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The Vanguard Mid-Cap Value Index Fund ETF Shares (VOE) operates within the US Mid Cap category, which ETFValuer currently tracks with 14 funds. Issued by Vanguard, this fund has accumulated $37.2 billion in assets under management and trades at a price of $204.78. It holds an overall rank of #20 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B+ with a score of 78.6. The fund offers a low-cost structure with an expense ratio of 0.05% while providing a dividend yield of 1.88%. The substantial asset base and high ranking suggest significant investor adoption relative to the broader universe of tracked funds. These metrics position VOE as a widely utilized vehicle for accessing mid-cap value exposure within its specific category.
Over the last day, the fund posted a return of +1.15%, followed by a +0.98% gain over the one-week period. Monthly performance accelerated to +3.79%, which extended to a +6.39% return over three months. The six-month return reached +11.44%, and year-to-date gains have climbed to +15.55%. Annual returns show further strength at +22.77%, while the three-year horizon reflects a cumulative return of +52.49%. This trajectory indicates consistent positive momentum across short, medium, and long-term horizons without any recorded negative periods in the provided data. The fund's closest category peers, IWS and SCHM, recorded one-year returns of +22.96% and +21.86% respectively.
VOE carries a low volatility label and a beta of 0.76, indicating that the fund has historically exhibited less price fluctuation than the broader market. A Sharpe ratio of 1.56 suggests the fund has generated strong risk-adjusted returns relative to its volatility over the measured period. The maximum drawdown recorded for the fund stands at -18.45%, representing the largest peak-to-trough decline observed. This combination of low beta and a high Sharpe ratio implies the fund has managed downside risk effectively while capturing upside potential. The specific drawdown figure provides a concrete measure of the worst-case scenario experienced by investors during the tracked timeframe. Together, these metrics describe a profile where the fund has delivered returns with a relatively contained level of risk compared to higher-beta alternatives.
AI-generated summary based on the data on this page.
VOE Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | SLB Ltd | 1.44% | $500M |
| 2 | Cummins Inc | 1.39% | $483M |
| 3 | Valero Energy Corp | 1.38% | $480M |
| 4 | Phillips 66 | 1.37% | $475M |
| 5 | Marathon Petroleum Corp | 1.35% | $468M |
| 6 | CRH PLC | 1.32% | $457M |
| 7 | General Motors Co | 1.26% | $438M |
| 8 | Warner Bros Discovery Inc | 1.21% | $421M |
| 9 | L3Harris Technologies Inc | 1.21% | $419M |
| 10 | Digital Realty Trust Inc | 1.16% | $403M |
Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 13.1% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how VOE's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With VOE
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VOE's top 10 — VO overlaps most, holding 4 of the same companies as VOE's top 10 (5.6% of VOE's assets).
| ETF | Name | Shared Companies | VOE Weight | Examples |
|---|---|---|---|---|
| VO | Vanguard Mid-Cap Index Fund ETF Shares | 4 | 5.6% | SLB Ltd, Cummins Inc, Valero Energy Corp… |
| XLE | State Street Energy Select Sector SPDR ETF | 4 | 5.5% | SLB Ltd, Valero Energy Corp, Phillips 66… |
| FENY | Fidelity MSCI Energy Index ETF | 4 | 5.5% | SLB Ltd, Valero Energy Corp, Marathon Petroleum Corp… |
| IWS | iShares Russell Mid-Cap Value ETF | 4 | 5.5% | Valero Energy Corp, Cummins Inc, Marathon Petroleum Corp… |
| VDE | Vanguard Energy Index Fund ETF Shares | 3 | 4.2% | SLB Ltd, Valero Energy Corp, Phillips 66 |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What VOE's Fees Cost You
VOE charges an expense ratio of 0.05% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
VOE Dividend Income Estimator
VOE currently yields 1.88%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
VOE Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 1.51% and average daily volume is 278K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $37.2B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: VOE is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
VOE Performance History
| Period | Return |
|---|---|
| 1-Day | +1.15% |
| 1-Week | +0.98% |
| 1-Month | +3.79% |
| 3-Month | +6.39% |
| 6-Month | +11.44% |
| YTD | +15.55% |
| 1-Year | +22.77% |
| 3-Year | +52.49% |
How VOE Compares to Other US Mid Cap ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #20 | B+ |
VOE | Vanguard Mid-Cap Value Index Fund ETF Shares | +22.77% | 0.05% | $37.2B |
| #78 | B |
IWS | iShares Russell Mid-Cap Value ETF | +22.96% | 0.23% | $15.6B |
| #135 | B |
SCHM | Schwab U.S. Mid-Cap ETF | +21.86% | 0.03% | $15.3B |
| #156 | B |
IJH | iShares Core S&P Mid-Cap ETF | +19.19% | 0.05% | $124B |
| #158 | B |
VO | Vanguard Mid-Cap Index Fund ETF Shares | +13.56% | 0.03% | $224B |
| #176 | C |
IWR | iShares Russell Mid-Cap ETF | +16.41% | 0.18% | $57.0B |
| #181 | C |
SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | +19.19% | 0.03% | $18.4B |
| #200 | C |
IJK | iShares S&P Mid-Cap 400 Growth ETF | +21.23% | 0.17% | $11.3B |
| #210 | C |
MDY | State Street SPDR S&P MIDCAP 400 ETF Trust | +18.79% | 0.23% | $28.1B |
| #234 | C |
MDYG | State Street SPDR S&P 400 Mid Cap Growth ETF | +21.20% | 0.15% | $2.92B |
| #262 | C |
IJJ | iShares S&P Mid-Cap 400 Value ETF | +16.97% | 0.18% | $8.73B |
| #291 | C |
MDYV | State Street SPDR S&P 400 Mid Cap Value ETF | +16.92% | 0.15% | $2.68B |
| #376 | C |
VOT | Vanguard Mid-Cap Growth Index Fund ETF Shares | +1.38% | 0.05% | $34.8B |
| #398 | D |
IWP | iShares Russell Mid-Cap Growth ETF | -2.93% | 0.23% | $21.6B |