Vanguard U.S. Momentum Factor (VFMO) Performance
VFMO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.7% since Dec 31, 2025
- 1 year
- +12.2% total return
- 5 years
- +10.8% a year
- Since first price
- +13.6% a year since 2018
VFMO trailing returns vs SPY, QQQ, AGG
| Period | VFMO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.9% | −4.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.8% | −7.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.6% | −1.9% | +7.8% | +8.4% | −1.5% |
| YTD | +13.7% | +13.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.2% | +11.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +105.4%+27.1%/yr | +100.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +67.3%+10.8%/yr | +58.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 15, 2018 | +203.3%+13.6%/yr | +179.7% | — | — | — |
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: VFMO vs SPY
From Feb 15, 2018: VFMO grew to $30,329, SPY to $31,785.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VFMO returns by calendar year
6 of 7 full years positive. Best 2020 (+31.4%), worst 2022 (−12.8%). 2026 is year to date.
VFMO annual returns table
| Year | VFMO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.7% | −14.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.4% | −23.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +26.1% | −12.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.3% | −15.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −12.8% | −21.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +19.2% | −11.2% | +28.7% | +27.4% | −1.8% |
| 2020 | +31.4% | −36.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +28.2% | −6.8% | +31.2% | +39.0% | +8.5% |
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.
VFMO largest drawdowns
Now 13.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −36.8% | Mar 23, 2020 | Jul 30, 2020 | 33 days | 5 months |
| Sep 4, 2018 | −27.2% | Dec 24, 2018 | Dec 20, 2019 | 4 months | 1.3 years |
| Nov 8, 2021 | −25.8% | Sep 26, 2022 | Feb 2, 2024 | 11 months | 2.2 years |
| Nov 26, 2024 | −24.4% | Apr 8, 2025 | Aug 12, 2025 | 4 months | 9 months |
| Jun 30, 2026 | −14.0% | Jul 29, 2026 | not yet | 29 days | 4 months so far |
| Jul 16, 2024 | −12.2% | Aug 5, 2024 | Sep 19, 2024 | 20 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VFMO risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +27.0% | +13.2% | +14.5% |
| Volatility (annualized) | 19.7% | 20.3% | 20.2% |
| Sharpe ratio | 1.10 | 0.54 | 0.65 |
| Sortino ratio | 1.92 | 0.85 | 1.02 |
| Best month | +13.6% | +13.6% | +14.7% |
| Worst month | −10.3% | −10.3% | −15.8% |
| Best 12 months | +51.6% | +51.6% | +84.2% |
| Worst 12 months | +1.1% | −16.4% | −17.8% |
| Positive months | 75% | 65% | 64% |
| Beta vs S&P 500 | 1.33 | 1.11 | — |
| Correlation with S&P 500 | 0.84 | 0.86 | — |
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.
VFMO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 93 | −17.8% | +14.2% | +84.2% | 76% |
| 3-year (a year) | 69 | +4.9% | +14.5% | +28.7% | 100% |
| 5-year (a year) | 45 | +6.7% | +13.8% | +18.7% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
VFMO performance overview
Vanguard U.S. Momentum Factor (VFMO) returned +12.2% over the past year and +10.8% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +13.6% a year, turning $10,000 into about $30,329. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −36.8%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. VFMO finished 6 of its 7 full calendar years with a gain; the best year was 2020 (+31.4%) and the worst 2022 (−12.8%). Volatility has been 20.2% a year.
Related: VFMO chart, VFMO holdings, VFMO dividends, VFMO valuation. See the VFMO overview for the latest quote and fund facts.
VFMO performance FAQ
What is the VFMO return over the past year?
VFMO returned +12.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.5%.
What is the average annual return of VFMO?
VFMO has returned +10.8% a year over 5 years, +13.6% a year since February 15, 2018 (total return, distributions reinvested).
How much would $10,000 invested in VFMO be worth?
$10,000 invested in VFMO at its first recorded close on February 15, 2018 would be worth about $30,329 on October 23, 2026 with distributions reinvested.
What was the worst year for VFMO?
The worst calendar year was 2022, with a total return of −12.8%. The best was 2020 at +31.4%.
What is the biggest drawdown of VFMO?
The largest peak-to-trough decline was −36.8% between February 19, 2020 and March 23, 2020. It recovered to the old high on July 30, 2020, 4 months after the bottom.
How volatile is VFMO?
Over the past 3 years VFMO had an annualized volatility of 19.7% and a Sharpe ratio of 1.10 (excess return over 1–3 month T-bills per unit of risk).