Vanguard U.S. Minimum Volatility (VFMV) Performance
VFMV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.3% since Dec 31, 2025
- 1 year
- +15.1% total return
- 5 years
- +9.8% a year
- Since first price
- +10.1% a year since 2018
VFMV trailing returns vs SPY, QQQ, AGG
| Period | VFMV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.7% | +3.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.5% | +4.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.5% | +6.0% | +7.8% | +8.4% | −1.5% |
| YTD | +14.3% | +13.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.1% | +13.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +63.6%+17.8%/yr | +55.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +59.4%+9.8%/yr | +45.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 15, 2018 | +129.8%+10.1%/yr | +93.1% | — | — | — |
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: VFMV vs SPY
From Feb 15, 2018: VFMV grew to $22,982, SPY to $31,785.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VFMV returns by calendar year
5 of 7 full years positive. Best 2019 (+27.3%), worst 2022 (−5.7%). 2026 is year to date.
VFMV annual returns table
| Year | VFMV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.3% | −6.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +10.5% | −10.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.9% | −5.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +8.9% | −6.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.7% | −14.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +20.7% | −6.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −0.2% | −33.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.3% | −3.2% | +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.
VFMV largest drawdowns
Now 0.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 2020 | −33.6% | Mar 23, 2020 | Jan 20, 2021 | 32 days | 11 months |
| Sep 14, 2018 | −16.1% | Dec 24, 2018 | Apr 24, 2019 | 3 months | 7 months |
| Dec 29, 2021 | −15.4% | Sep 30, 2022 | Dec 4, 2023 | 9 months | 1.9 years |
| Feb 25, 2025 | −10.4% | Apr 8, 2025 | Jun 10, 2025 | 42 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VFMV risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +15.7% | +9.8% | +9.7% |
| Volatility (annualized) | 9.6% | 12.0% | 13.2% |
| Sharpe ratio | 1.12 | 0.54 | 0.58 |
| Sortino ratio | 1.96 | 0.87 | 0.83 |
| Best month | +6.1% | +10.4% | +10.4% |
| Worst month | −5.2% | −7.9% | −15.1% |
| Best 12 months | +28.5% | +28.5% | +33.2% |
| Worst 12 months | +5.5% | −7.0% | −11.1% |
| Positive months | 67% | 60% | 67% |
| Beta vs S&P 500 | 0.53 | 0.63 | — |
| Correlation with S&P 500 | 0.68 | 0.83 | — |
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.
VFMV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 93 | −11.1% | +9.9% | +33.2% | 81% |
| 3-year (a year) | 69 | +2.0% | +9.2% | +17.4% | 100% |
| 5-year (a year) | 45 | +4.8% | +9.2% | +14.3% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
VFMV performance overview
Vanguard U.S. Minimum Volatility (VFMV) returned +15.1% over the past year and +9.8% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +10.1% a year, turning $10,000 into about $22,982. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.6%, from Feb 20, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. VFMV finished 5 of its 7 full calendar years with a gain; the best year was 2019 (+27.3%) and the worst 2022 (−5.7%). Volatility has been 13.2% a year.
Related: VFMV chart, VFMV holdings, VFMV dividends, VFMV valuation. See the VFMV overview for the latest quote and fund facts.
VFMV performance FAQ
What is the VFMV return over the past year?
VFMV returned +15.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.1%.
What is the average annual return of VFMV?
VFMV has returned +9.8% a year over 5 years, +10.1% a year since February 15, 2018 (total return, distributions reinvested).
How much would $10,000 invested in VFMV be worth?
$10,000 invested in VFMV at its first recorded close on February 15, 2018 would be worth about $22,982 on October 23, 2026 with distributions reinvested.
What was the worst year for VFMV?
The worst calendar year was 2022, with a total return of −5.7%. The best was 2019 at +27.3%.
What is the biggest drawdown of VFMV?
The largest peak-to-trough decline was −33.6% between February 20, 2020 and March 23, 2020. It recovered to the old high on January 20, 2021, 10 months after the bottom.
How volatile is VFMV?
Over the past 3 years VFMV had an annualized volatility of 9.6% and a Sharpe ratio of 1.12 (excess return over 1–3 month T-bills per unit of risk).