# How Vanguard Morningstar Large-Cap ETF (VV) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/vv
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VV alone. It places VV (Vanguard Morningstar Large-Cap ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where VV stands in the market, and of the alternatives worth a closer look.

Period covered: VV's full trading record, from January 2004 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, VV rose 9.4% against 8.3% for the total US stock market and 11.2% for the Nasdaq 100. Both VV and the total US stock market are within a few percent of a record high.
- **Fund or market?:** VV rose 3.9% over the past 3 months, in line with the total US stock market, which rose 3.2%: a market move, not its own.
- **Long term:** VV turned $10,000 into $42,400 over the past decade, against $40,200 in the total US stock market. VV's 10-year return of 324% puts it ahead of 92% of the ETFs with at least $100 million in assets with that much history. The total US stock market returned 302%.
- **In a crash:** In the 2022 bear market, VV fell harder than most of its similar funds, including RSP (Invesco S&P 500 Equal Weight ETF), DIA and FNDX.
- **Diversification:** Against the total US stock market, VV has a correlation of 1.00 over 5 years, more closely than 99% of ETFs with at least $100 million in assets. Next to an index fund it is more of the same, not a cushion. VV fell in 25 of the 25 months the total US stock market fell over the past 5 years: it usually fell with it.
- **Better options**
  - **Nearby categories and themes:** JQUA (JPMorgan U.S. Quality Factor ETF, US quality equity) earned more than VV with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.3% a year at 17.3%.
  - **Whole market:** Few investments have done better on both counts: only 21 of the 3,633 stocks and funds worth at least $500 million earned more than VV with less volatility over the past 5 years, among them EFV (iShares MSCI EAFE Value ETF), FNDX (Schwab Fundamental U.S. Large Company ETF) and FNDF (Schwab Fundamental International Large Company Index ETF).

## How much would $10,000 in VV have grown?

This chart tracks a hypothetical $10,000 investment in VV over the past 22 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VV over the same span and VV's popular alternatives, among those that traded for the entire period.

- $10,000 invested in VV at the end of September 2004 would have grown to $107,334 by September 2026, more than the $102,174 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VV, and NVDA finished highest, at $20,721,476.

## VV at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- VV's deepest decline since it began trading in 2004 was 54.8%, from October 2007 to March 2009. It took about three years from the low to climb back to its old high.
- Over 21 full calendar years, VV's best was 2013, when it returned 32.7%, and its worst was 2008, when it lost 36.7%. It lost money in three of those years.
- VV is 1.5% below its all-time high.

- Type: ETF, Broad Market (Asset Management)
- Trading since: January 30, 2004
- Assets: $76B
- Expense ratio: 0.03%
- Volatility (5 years): 17.3%; Sharpe ratio: 0.76
- Worst decline ever: −54.8%, from October 9, 2007 to March 9, 2009; back at its high by March 13, 2012

| Period | VV total return |
| --- | --- |
| 1 month | −0.7% |
| 3 months | +3.9% |
| 6 months | +9.4% |
| year to date | +13.4% |
| 1 year | +15.4% |
| 3 years | +90.6% |
| 5 years | +78.8% |
| 10 years | +324% |

## VV against the whole market

Where VV ranks among every stock and fund, and what across the market has done better.

### How does VV rank among all ETFs?

This section ranks VV on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- VV's 10-year return ranks in the top 8% of the 958 ETFs with at least $100 million in assets with 10 years of history.

| Measure | VV | Rank |
| --- | --- | --- |
| 1-year return | +15.4% | 769 of 2,485 (top 31%) |
| 3-year return | +90.6% | 328 of 1,949 (top 17%) |
| 5-year return | +78.8% | 269 of 1,560 (top 18%) |
| 10-year return | +324% | 73 of 958 (top 8%) |
| Volatility, 5 years | 17.3% | 885 of 1,560 (top 57%) |
| Sharpe ratio, 5 years | 0.76 | 410 of 1,560 (top 27%) |
| Worst decline, past 10 years | −34.3% | 312 of 951 (top 33%) |

### What has beaten VV on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 21 ETFs worth at least $500 million sit in the green region: each earned more than VV over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half VV's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 36% less than VV's 17.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.76 for VV.
- Among VV's popular alternatives, FNDX is in the region. FNDX earned 13.5% a year against 12.3% a year for VV, at 14.9% volatility, 14% less than VV's 17.3%.

### Is there a better investment than VV?

The table below lists investments that beat VV over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio.

- Among VV's popular alternatives, FNDX earned more than VV with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 12.3% a year at 17.3%.
- Looking beyond its popular alternatives, JQUA (US quality equity) earned more than VV with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.3% a year at 17.3%.
- Few investments have done better on both counts: only 21 of the 3,633 stocks and funds worth at least $500 million earned more than VV with less volatility over the past 5 years, among them EFV, FNDX and FNDF.

The 15 strongest of 21 investments that beat VV over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with VV | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| VV: Vanguard Morningstar Large-Cap ETF (this page) |  | +12.3% | 17.3% | 0.76 | −34.3% | +324% |  |  |
| PVAL: Putnam Focused Large Cap Value ETF | US Large-Cap Value | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.87 | Higher return, lower volatility; Higher return in most periods |
| DFIV: Dimensional - International Value ETF | International Equity | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.64 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DIVB: iShares Core Dividend ETF | Dividend & Income | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.85 | Higher return, lower volatility; Higher return in most periods |
| DIVI: Franklin International Core Dividend Tilt Index ETF | International | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.72 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.53 | Higher return, lower volatility |
| VSLU: Applied Finance Valuation Large Cap ETF | Broad Market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.98 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FNDF: Schwab Fundamental International Large Company Index ETF | International Equity | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.70 | Higher return, lower volatility |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | US Dividend Equity | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.56 | Higher return, lower volatility |
| EMLP: First Trust North American Energy Infrastructure Fund | Energy Infrastructure | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.60 | Higher return, lower volatility |
| GCOW: Pacer Global Cash Cows Dividend ETF | International | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.50 | Higher return, lower volatility |
| RWL: Invesco S&P 500 Revenue ETF | US Large-Cap Equity | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.90 | Higher return, lower volatility |
| JQUA: JPMorgan U.S. Quality Factor ETF | US Quality Equity | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.96 | Higher return, lower volatility |
| FLQL: Franklin U.S. Large Cap Multifactor Index ETF | Broad Market | +13.8% | 16.3% | 0.88 | −33.6% | — | 0.98 | Higher return, lower volatility |
| PWV: Invesco Large Cap Value ETF | Broad Market | +13.5% | 14.2% | 0.97 | −37.6% | +223% | 0.75 | Higher return, lower volatility |
| EQL: ALPS Equal Sector Weight ETF | Broad Market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.90 | Higher return, lower volatility |

## VV against its popular alternatives

The investments people most often weigh against VV, compared period by period and year by year.

### How do VV's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- USMC, FNDX and PRF were both more rewarding and calmer than VV over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VV returned 12.3% a year, less than the S&P 500's 12.7%, with higher volatility (17.3% against 17.1%).

### Has VV consistently beaten its popular alternatives?

This section compares VV with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Only one of the 25 popular alternatives, MGC, outperformed VV in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- USMC, OEF and MGC earned more for the risk they took than VV (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of VV | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| VV: Vanguard Morningstar Large-Cap ETF (this page) | +15.4% | +90.6% | +78.8% | +324% |  |  | 0.76 |
| MGC: Vanguard Morningstar Mega Cap ETF | +16.0% | +94.9% | +87.8% | +353% | 3/5 short-term, 3/3 long-term | consistent | 0.81 |
| OEF: iShares S&P 100 ETF | +14.8% | +98.4% | +94.8% | +367% | 2/5 short-term, 3/3 long-term |  | 0.84 |
| [DYNF](https://easycompare.io/research/dynf): iShares U.S. Equity Factor Rotation Active ETF | +17.1% | +106% | +98.5% | — | 2/5 short-term, 2/3 long-term |  | 0.87 |
| [VUG](https://easycompare.io/research/vug): Vanguard Morningstar Growth ETF | +10.2% | +100% | +78.6% | +419% | 0/5 short-term, 2/3 long-term |  | 0.63 |
| FNDX: Schwab Fundamental U.S. Large Company ETF | +25.4% | +88.2% | +88.6% | +291% | 5/5 short-term, 1/3 long-term |  | 0.93 |
| PRF: Invesco RAFI US 1000 ETF | +25.5% | +90.1% | +84.3% | +270% | 4/5 short-term, 1/3 long-term |  | 0.90 |
| USMC: Principal U.S. Mega-Cap ETF | +12.5% | +86.6% | +93.2% | — | 1/5 short-term, 1/3 long-term |  | 0.89 |
| [SPYM](https://easycompare.io/research/spym): State Street SPDR Portfolio S&P 500 ETF | +15.9% | +89.8% | +82.5% | +324% | 0/5 short-term, 1/3 long-term |  | 0.80 |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | +15.8% | +89.7% | +82.3% | +324% | 0/5 short-term, 1/3 long-term |  | 0.80 |
| [IVV](https://easycompare.io/research/ivv): iShares Core S&P 500 ETF | +15.8% | +89.7% | +82.3% | +324% | 0/5 short-term, 1/3 long-term |  | 0.80 |
| [SPY](https://easycompare.io/research/spy): State Street SPDR S&P 500 ETF | +15.8% | +89.3% | +81.7% | +321% | 0/5 short-term, 1/3 long-term |  | 0.79 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | +22.5% | +77.9% | +76.6% | +235% | 4/5 short-term, 0/3 long-term |  | 0.90 |
| [DIA](https://easycompare.io/research/dia): State Street SPDR Dow Jones Industrial Average ETF Trust | +13.9% | +66.1% | +60.6% | +250% | 1/5 short-term, 0/3 long-term |  | 0.72 |
| [RSP](https://easycompare.io/research/rsp): Invesco S&P 500 Equal Weight ETF | +15.5% | +65.4% | +48.6% | +211% | 1/5 short-term, 0/3 long-term |  | 0.57 |
| [VO](https://easycompare.io/research/vo): Vanguard Morningstar Mid-Cap ETF | +12.4% | +68.9% | +39.1% | +198% | 1/5 short-term, 0/3 long-term |  | 0.47 |
| EQAL: Invesco Russell 1000 Equal Weight ETF | +14.3% | +61.4% | +36.4% | +171% | 1/5 short-term, 0/3 long-term |  | 0.45 |
| [SCHX](https://easycompare.io/research/schx): Schwab U.S. Large-Cap ETF | +15.1% | +89.1% | +76.6% | +317% | 0/5 short-term, 0/3 long-term |  | 0.75 |
| VONE: Vanguard Russell 1000 ETF | +15.2% | +88.5% | +75.9% | +312% | 0/5 short-term, 0/3 long-term |  | 0.75 |
| SPTM: State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | +15.7% | +87.2% | +78.6% | +310% | 0/5 short-term, 0/3 long-term |  | 0.77 |
| [IWB](https://easycompare.io/research/iwb): iShares Russell 1000 ETF | +15.1% | +87.7% | +75.1% | +309% | 0/5 short-term, 0/3 long-term |  | 0.74 |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | +15.2% | +87.9% | +72.6% | +302% | 0/5 short-term, 0/3 long-term |  | 0.71 |
| [ITOT](https://easycompare.io/research/itot): iShares Core S&P Total U.S. Stock Market ETF | +15.2% | +88.0% | +72.7% | +301% | 0/5 short-term, 0/3 long-term |  | 0.72 |
| [SCHB](https://easycompare.io/research/schb): Schwab U.S. Broad Market ETF | +15.2% | +88.0% | +72.9% | +286% | 0/5 short-term, 0/3 long-term |  | 0.72 |
| [VB](https://easycompare.io/research/vb): Vanguard Morningstar Small-Cap ETF | +13.7% | +66.8% | +35.2% | +179% | 0/5 short-term, 0/3 long-term |  | 0.40 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | +14.6% | +77.2% | +48.6% | +140% | 0/5 short-term, 0/3 long-term |  | 0.57 |

### How did VV do year by year?

This table shows each investment's total return in every full calendar year since 2005, along with where VV ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, VV finished in the top quarter in five of 21 years and in the bottom quarter in no. In 2025, it ranked 7 of 19.
- VV finished ahead of the S&P 500 in six of its 21 full calendar years.
- Among its popular alternatives, VUG came out ahead of VV most often, in 12 of the 21 years both traded.

| Year | VV | SPY |
| --- | --- | --- |
| 2025 | +18.1% | +17.7% |
| 2024 | +25.3% | +24.9% |
| 2023 | +27.2% | +26.2% |
| 2022 | −19.9% | −18.2% |
| 2021 | +27.4% | +28.7% |
| 2020 | +21.0% | +18.3% |
| 2019 | +31.3% | +31.2% |
| 2018 | −4.5% | −4.6% |
| 2017 | +22.0% | +21.7% |
| 2016 | +11.8% | +12.0% |

## Risk and diversification

How VV has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were VV's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- The slowest recovery came after VV fell 54.8% from October 2007 to March 2009; it did not regain that peak until March 2012, three years later.
- In three of VV's five worst declines, the S&P 500 held up better over the same dates.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −54.8% | October 9, 2007 | March 9, 2009 | March 13, 2012 | −55.2% | 2008 financial crisis |
| −34.3% | February 19, 2020 | March 23, 2020 | August 6, 2020 | −33.7% | Covid crash |
| −25.7% | December 27, 2021 | October 12, 2022 | December 13, 2023 | −24.4% | 2022 bear market |
| −19.3% | September 20, 2018 | December 24, 2018 | April 12, 2019 | −19.4% | late-2018 sell-off |
| −19.0% | February 19, 2025 | April 8, 2025 | June 26, 2025 | −18.8% |  |

### How did VV do in stock market crashes?

This section measures how far VV, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, USMC held up best, falling less than VV in four of the five crashes they both traded through.
- VV fell further than the S&P 500 in three of the nine crashes it has traded through. The clearest case was the 2022 bear market, when VV fell 25.5% and the S&P 500 fell 24.5%.

| Crash | Dates | VV fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −54.8% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −1.7% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −18.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −13.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.3% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −34.3% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −25.5% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.5% | −3.4% |

### How closely does VV move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Only OEF, VUG and MGC had a higher capture ratio (upside capture divided by downside capture) than VV's 1.00, out of 16 popular alternatives with the same record.
- VTV took just 91% of the S&P 500's losses, against 101% for VV, while still keeping 86% of its gains.
- Over the past 10 years, VV captured 101% of the S&P 500's gains in rising months and 101% of its losses in falling months, with a beta of 1.01. It amplified the market's moves in both directions.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| VV: Vanguard Morningstar Large-Cap ETF (this page) | 101% | 101% | 1.01 |
| MGC: Vanguard Morningstar Mega Cap ETF | 102% | 99.0% | 1.00 |
| OEF: iShares S&P 100 ETF | 104% | 100% | 1.00 |
| [VUG](https://easycompare.io/research/vug): Vanguard Morningstar Growth ETF | 113% | 108% | 1.13 |
| FNDX: Schwab Fundamental U.S. Large Company ETF | 95.0% | 98.0% | 0.97 |
| PRF: Invesco RAFI US 1000 ETF | 93.0% | 98.0% | 0.97 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 86.0% | 91.0% | 0.86 |
| [DIA](https://easycompare.io/research/dia): State Street SPDR Dow Jones Industrial Average ETF Trust | 92.0% | 99.0% | 0.93 |
| [RSP](https://easycompare.io/research/rsp): Invesco S&P 500 Equal Weight ETF | 92.0% | 107% | 1.01 |
| [VO](https://easycompare.io/research/vo): Vanguard Morningstar Mid-Cap ETF | 91.0% | 109% | 1.05 |
| EQAL: Invesco Russell 1000 Equal Weight ETF | 90.0% | 113% | 1.04 |
| [SCHX](https://easycompare.io/research/schx): Schwab U.S. Large-Cap ETF | 100% | 101% | 1.01 |
| SPTM: State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 99.0% | 101% | 1.01 |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | 100% | 103% | 1.02 |
| [SCHB](https://easycompare.io/research/schb): Schwab U.S. Broad Market ETF | 99.0% | 104% | 1.03 |
| [VB](https://easycompare.io/research/vb): Vanguard Morningstar Small-Cap ETF | 96.0% | 120% | 1.13 |
| [VXUS](https://easycompare.io/research/vxus): Vanguard Total International Stock ETF | 76.0% | 91.0% | 0.82 |

### What diversifies VV?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in VV into DBMF would have cut the portfolio's volatility by 23% over the past 5 years for a small cut in its annual return (+13.4% for VV alone, +13.2% for the mix).
- Among large ETFs, GLD, XLE and AMLP have moved largely independently of VV over the past 5 years, with correlations of 0.45 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, MCK and MPC have moved largely independently of VV over the past 5 years, with correlations of 0.29 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with VV | 5Y return | Volatility | Sharpe | Rose in VV's 3 down years |
| --- | --- | --- | --- | --- | --- |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.15 | +126% | 18.9% | 0.96 | 1 of 3 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.27 | +177% | 25.5% | 0.93 | 1 of 3 |
| AMLP: Alerian MLP ETF | 0.45 | +111% | 18.9% | 0.89 | 1 of 3 |
| DBMF: iMGP DBi Managed Futures Strategy ETF | -0.27 | +59.7% | 12.4% | 0.82 | 1 of 3 |
| DBA: Invesco DB Agriculture Fund | 0.17 | +66.4% | 13.8% | 0.81 | 1 of 3 |
| IHE: iShares U.S. Pharmaceuticals ETF | 0.48 | +81.2% | 16.8% | 0.80 | 0 of 3 |
| PPH: VanEck Pharmaceutical ETF | 0.48 | +72.8% | 15.8% | 0.78 | 1 of 3 |
| GDX: VanEck Gold Miners ETF | 0.27 | +181% | 38.2% | 0.73 | 0 of 3 |

## Common questions

### What was VV's worst drawdown?

VV's deepest decline since it began trading in 2004 was 54.8%, from October 2007 to March 2009. It took about three years from the low to climb back to its old high. Because VV launched in January 2004, that record does not include the dot-com bust.

### What were VV's best and worst years?

Over 21 full calendar years, VV's best year was 2013, when it returned 32.7%. Its worst was 2008, with a return of -36.7%.

### Is there a better investment than VV?

Among VV's popular alternatives, FNDX earned more than VV with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 12.3% a year at 17.3%. Looking beyond its popular alternatives, JQUA (US quality equity) earned more than VV with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 12.3% a year at 17.3%.

### Is VV more volatile than the S&P 500?

No. VV's volatility over the past 5 years was 17.3%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VV's return lands within 17.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is VV's Sharpe ratio?

VV's Sharpe ratio over the past 5 years was 0.76, against 0.71 for the S&P 500, so VV earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is VV with the S&P 500?

Over the past 5 years, VV's monthly returns had a correlation of 1.00 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against VV instead: the lower it is, the more that option would diversify a VV holding.

### What are the best alternatives to VV?

Of the 25 popular alternatives we compared, one outperformed VV in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MGC.

### Did VV outperform the S&P 500?

VV finished ahead of the S&P 500 (SPY) in six of 21 full calendar years. In 2025, it returned +18.1%, against +17.7% for the index.

### How did VV do in stock market crashes?

VV fell less than the S&P 500 (SPY) in none of the nine major crashes it has traded through, and further in three. The clearest case was the 2022 bear market, when VV fell 25.5% and the S&P 500 fell 24.5%.

### What diversifies VV?

These had a low correlation with VV over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.15), XLE (correlation 0.27) and AMLP (correlation 0.45); among large stocks, CAH (correlation 0.29), MCK (correlation 0.18) and MPC (correlation 0.25). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/vv
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against VV live: https://betterthanspy.com/?b=VV&utm_source=easycompare&utm_medium=research