Vanguard Small-Cap Value ETF (VBR) Performance
VBR total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +15.1% since Dec 31, 2025
- 1 year
- +17.1% total return
- 5 years
- +8.4% a year
- 10 years
- +10.5% a year
- Since first price
- +9.5% a year since 2004
VBR trailing returns vs SPY, QQQ, AGG
| Period | VBR total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.9% | +1.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.3% | −0.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.8% | +3.8% | +7.8% | +8.4% | −1.5% |
| YTD | +15.1% | +13.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +17.1% | +14.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +69.3%+19.2%/yr | +59.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +49.4%+8.4%/yr | +34.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +171.3%+10.5%/yr | +120.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +439.6%+11.9%/yr | +291.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +433.1%+8.7%/yr | +244.7% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionJan 30, 2004 | +684.4%+9.5%/yr | +388.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VBR vs SPY
From Jan 30, 2004: VBR grew to $78,435, SPY to $101,402.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VBR returns by calendar year
15 of 21 full years positive. Best 2013 (+36.6%), worst 2008 (−32.2%). 2026 is year to date.
VBR annual returns table
| Year | VBR | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +15.1% | −8.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.1% | −21.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.4% | −9.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.0% | −15.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.4% | −20.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +28.1% | −9.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +5.9% | −45.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +22.8% | −9.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −12.3% | −23.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +11.8% | −5.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +24.9% | −10.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −4.8% | −13.5% | +1.2% | +9.4% | +0.5% |
| 2014 | +10.6% | −11.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +36.6% | −6.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +19.0% | −11.4% | +16.0% | +18.1% | +3.8% |
| 2011 | −4.2% | −27.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +25.1% | −20.8% | +15.1% | +19.9% | +6.4% |
| 2009 | +30.9% | −36.8% | +26.4% | +54.7% | +3.0% |
| 2008 | −32.2% | −49.4% | −36.8% | −41.7% | +7.9% |
| 2007 | −6.9% | −17.1% | +5.1% | +19.0% | +6.6% |
| 2006 | +19.5% | −10.0% | +15.8% | +7.1% | +3.9% |
| 2005 | +6.2% | −9.4% | +4.8% | +1.6% | +2.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VBR largest drawdowns
Now 4.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 4, 2007 | −62.0% | Mar 9, 2009 | Feb 14, 2011 | 1.8 years | 3.7 years |
| Jan 16, 2020 | −45.3% | Mar 23, 2020 | Nov 24, 2020 | 2 months | 10 months |
| Apr 29, 2011 | −27.9% | Oct 3, 2011 | Sep 6, 2012 | 5 months | 1.4 years |
| Nov 25, 2024 | −24.2% | Apr 8, 2025 | Dec 10, 2025 | 4 months | 1.0 years |
| Aug 29, 2018 | −23.5% | Dec 24, 2018 | Jan 16, 2020 | 4 months | 1.4 years |
| Nov 8, 2021 | −21.2% | Sep 30, 2022 | Dec 14, 2023 | 11 months | 2.1 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VBR risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2004 |
|---|---|---|---|---|
| Annualized return | +15.5% | +8.7% | +9.9% | +9.3% |
| Volatility (annualized) | 16.2% | 18.6% | 19.9% | 19.0% |
| Sharpe ratio | 0.71 | 0.35 | 0.46 | — |
| Sortino ratio | 1.19 | 0.55 | 0.68 | — |
| Best month | +9.8% | +12.0% | +17.4% | +19.6% |
| Worst month | −7.8% | −10.3% | −25.1% | −25.1% |
| Best 12 months | +34.0% | +34.0% | +90.4% | +90.4% |
| Worst 12 months | −0.8% | −13.6% | −29.6% | −45.4% |
| Positive months | 67% | 58% | 64% | 64% |
| Beta vs S&P 500 | 0.95 | 0.97 | 1.11 | — |
| Correlation with S&P 500 | 0.73 | 0.82 | 0.85 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VBR rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 262 | −45.4% | +11.5% | +90.4% | 74% |
| 3-year (a year) | 238 | −19.1% | +9.8% | +31.7% | 87% |
| 5-year (a year) | 214 | −6.7% | +9.0% | +28.1% | 94% |
| 10-year (a year) | 154 | +5.9% | +9.6% | +17.6% | 100% |
Every holding period starting at a month-end since 2004. Returns for 3 years and longer are annualized.
VBR performance overview
Vanguard Small-Cap Value ETF (VBR) returned +17.1% over the past year and +10.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2004 it has returned +9.5% a year, turning $10,000 into about $78,435. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −62.0%, from Jun 4, 2007 to Mar 9, 2009, and it took 1.9 years to get back to the old high. VBR finished 15 of its 21 full calendar years with a gain; the best year was 2013 (+36.6%) and the worst 2008 (−32.2%). Volatility has been 19.0% a year.
Related: VBR chart, VBR holdings, VBR dividends, VBR valuation. See the VBR overview for the latest quote and fund facts.
VBR performance FAQ
What is the VBR return over the past year?
VBR returned +17.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.8%.
What is the average annual return of VBR?
VBR has returned +8.4% a year over 5 years, +10.5% a year over 10 years, +9.5% a year since January 30, 2004 (total return, distributions reinvested).
How much would $10,000 invested in VBR be worth?
$10,000 invested in VBR at its first recorded close on January 30, 2004 would be worth about $78,435 on October 23, 2026 with distributions reinvested.
What was the worst year for VBR?
The worst calendar year was 2008, with a total return of −32.2%. The best was 2013 at +36.6%.
What is the biggest drawdown of VBR?
The largest peak-to-trough decline was −62.0% between June 4, 2007 and March 9, 2009. It recovered to the old high on February 14, 2011, 1.9 years after the bottom.
How volatile is VBR?
Over the past 3 years VBR had an annualized volatility of 16.2% and a Sharpe ratio of 0.71 (excess return over 1–3 month T-bills per unit of risk).