Vanguard Mid-Cap Value ETF (VOE) Performance
VOE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +19.1% since Dec 31, 2025
- 1 year
- +21.6% total return
- 5 years
- +9.5% a year
- 10 years
- +11.0% a year
- Since first price
- +9.5% a year since 2006
VOE trailing returns vs SPY, QQQ, AGG
| Period | VOE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.6% | +4.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.3% | +2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.6% | +7.6% | +7.8% | +8.4% | −1.5% |
| YTD | +19.1% | +17.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +21.6% | +19.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +77.6%+21.1%/yr | +66.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +57.7%+9.5%/yr | +41.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +184.0%+11.0%/yr | +126.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +470.2%+12.3%/yr | +309.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +488.0%+9.3%/yr | +283.8% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionAug 24, 2006 | +527.8%+9.5%/yr | +309.9% | — | — | — |
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: VOE vs SPY
From Aug 24, 2006: VOE grew to $62,781, SPY to $84,864.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VOE returns by calendar year
13 of 19 full years positive. Best 2009 (+38.3%), worst 2008 (−36.6%). 2026 is year to date.
VOE annual returns table
| Year | VOE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +19.1% | −6.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.1% | −15.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.0% | −8.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +9.9% | −14.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −8.0% | −19.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +28.8% | −6.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +2.6% | −43.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.9% | −7.2% | +31.2% | +39.0% | +8.5% |
| 2018 | −12.5% | −21.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +17.1% | −3.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +15.4% | −11.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.9% | −11.8% | +1.2% | +9.4% | +0.5% |
| 2014 | +14.0% | −8.5% | +13.5% | +19.2% | +6.0% |
| 2013 | +37.8% | −6.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +16.0% | −11.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −0.4% | −24.1% | +1.9% | +3.4% | +7.7% |
| 2010 | +21.8% | −17.3% | +15.1% | +19.9% | +6.4% |
| 2009 | +38.3% | −32.6% | +26.4% | +54.7% | +3.0% |
| 2008 | −36.6% | −52.2% | −36.8% | −41.7% | +7.9% |
| 2007 | −4.3% | −17.0% | +5.1% | +19.0% | +6.6% |
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.
VOE largest drawdowns
Now 0.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 4, 2007 | −61.5% | Mar 9, 2009 | Apr 27, 2011 | 1.8 years | 3.9 years |
| Feb 12, 2020 | −43.2% | Mar 23, 2020 | Dec 4, 2020 | 40 days | 10 months |
| Apr 29, 2011 | −24.1% | Oct 3, 2011 | Mar 13, 2012 | 5 months | 10 months |
| Jan 26, 2018 | −21.5% | Dec 24, 2018 | Jul 24, 2019 | 11 months | 1.5 years |
| Apr 20, 2022 | −19.7% | Sep 30, 2022 | Feb 22, 2024 | 5 months | 1.8 years |
| Nov 29, 2024 | −18.4% | Apr 8, 2025 | Aug 22, 2025 | 4 months | 9 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
VOE risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +16.9% | +9.4% | +10.1% | +9.2% |
| Volatility (annualized) | 13.1% | 16.3% | 17.3% | 17.6% |
| Sharpe ratio | 0.93 | 0.41 | 0.51 | 0.51 |
| Sortino ratio | 1.54 | 0.63 | 0.74 | 0.73 |
| Best month | +8.7% | +10.0% | +13.4% | +16.5% |
| Worst month | −7.6% | −10.5% | −21.8% | −22.2% |
| Best 12 months | +34.6% | +34.6% | +69.9% | +77.2% |
| Worst 12 months | +3.1% | −11.0% | −22.7% | −45.4% |
| Positive months | 64% | 57% | 64% | 65% |
| Beta vs S&P 500 | 0.73 | 0.85 | 0.99 | — |
| Correlation with S&P 500 | 0.69 | 0.82 | 0.88 | — |
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.
VOE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 231 | −45.4% | +11.3% | +77.2% | 74% |
| 3-year (a year) | 207 | −8.4% | +10.1% | +31.8% | 91% |
| 5-year (a year) | 183 | −1.2% | +10.5% | +28.1% | 98% |
| 10-year (a year) | 123 | +7.2% | +10.3% | +17.6% | 100% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
VOE performance overview
Vanguard Mid-Cap Value ETF (VOE) returned +21.6% over the past year and +11.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +9.5% a year, turning $10,000 into about $62,781. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −61.5%, from Jun 4, 2007 to Mar 9, 2009, and it took 2.1 years to get back to the old high. VOE finished 13 of its 19 full calendar years with a gain; the best year was 2009 (+38.3%) and the worst 2008 (−36.6%). Volatility has been 17.6% a year.
Related: VOE chart, VOE holdings, VOE dividends, VOE valuation. See the VOE overview for the latest quote and fund facts.
VOE performance FAQ
What is the VOE return over the past year?
VOE returned +21.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 19.1%.
What is the average annual return of VOE?
VOE has returned +9.5% a year over 5 years, +11.0% a year over 10 years, +9.5% a year since August 24, 2006 (total return, distributions reinvested).
How much would $10,000 invested in VOE be worth?
$10,000 invested in VOE at its first recorded close on August 24, 2006 would be worth about $62,781 on October 23, 2026 with distributions reinvested.
What was the worst year for VOE?
The worst calendar year was 2008, with a total return of −36.6%. The best was 2009 at +38.3%.
What is the biggest drawdown of VOE?
The largest peak-to-trough decline was −61.5% between June 4, 2007 and March 9, 2009. It recovered to the old high on April 27, 2011, 2.1 years after the bottom.
How volatile is VOE?
Over the past 3 years VOE had an annualized volatility of 13.1% and a Sharpe ratio of 0.93 (excess return over 1–3 month T-bills per unit of risk).