VOE vs SPY
Comparison between VANGUARD MID-CAP VALUE INDEX FUND ETF SHARES (VOE, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed VOE, delivering a return of +13.3% compared to +8.1%
VOE vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
VOE
$35B
Winner
SPY
$652B
Expense Ratio
Winner
VOE
0.05%
SPY
0.09%
Max Drawdown
VOE
63.37%
Winner
SPY
56.47%
Sharpe Ratio
VOE
1.57
Winner
SPY
2.07
5Y Beta
Winner
VOE
0.69
SPY
1.00
P/E Ratio
Winner
VOE
19.33
SPY
28.24
Forward P/E
Winner
VOE
13.53
SPY
21.85
PEG Ratio
VOE
0.47
SPY
N/A
5Y Dividends CAGR
Winner
VOE
12.81%
SPY
5.43%
5Y EPS CAGR
VOE
10.56%
Winner
SPY
25.79%
Debt to Equity
VOE
44.26%
Winner
SPY
22.35%
P/S Ratio
Winner
VOE
1.20
SPY
3.55
P/B Ratio
Winner
VOE
2.35
SPY
5.29
VOE vs SPY - Holdings Comparison
VOE and SPY have 162 common holdings. Overlap is 9.58%
VOE's top 25 holdings weight is 28.81%. SPY's top 25 holdings weight is 51.32%.
| Rank | VOE | SPY |
|---|---|---|
| #1 | SLB LTD (SLB) - 1.44% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | CUMMINS INC (CMI) - 1.39% | APPLE INC (AAPL) - 6.48% |
| #3 | VALERO ENERGY CORP (VLO) - 1.38% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | PHILLIPS 66 (PSX) - 1.37% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | MARATHON PETROLEUM CORP (MPC) - 1.35% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | CRH PLC (CRH) - 1.32% | BROADCOM INC (AVGO) - 3.09% |
| #7 | GENERAL MOTORS CO (GM) - 1.26% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | n/a (WBD) - 1.21% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | L3HARRIS TECHNOLOGIES INC (LHX) - 1.21% | TESLA INC (TSLA) - 1.73% |
| #10 | DIGITAL REALTY TRUST INC (DLR) - 1.16% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | TE CONNECTIVITY PLC REGISTERED SHARES (TEL) - 1.15% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | PACCAR INC (PCAR) - 1.14% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | BAKER HUGHES CO CLASS A (BKR) - 1.13% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | NEWMONT CORP (NEM) - 1.10% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | CENCORA INC (COR) - 1.09% | WALMART INC (WMT) - 0.91% |
| #16 | CORTEVA INC (CTVA) - 1.07% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | ONEOK INC (OKE) - 1.07% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | CHENIERE ENERGY INC (LNG) - 1.06% | VISA INC CLASS A (V) - 0.85% |
| #19 | ARTHUR J. GALLAGHER & CO (AJG) - 1.04% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | TARGET CORP (TGT) - 1.03% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | DOMINION ENERGY INC (D) - 1.02% | INTEL CORP (INTC) - 0.65% |
| #22 | ALLSTATE CORP (ALL) - 1.01% | NETFLIX INC (NFLX) - 0.64% |
| #23 | ENTERGY CORP (ETR) - 0.95% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | EXELON CORP (EXC) - 0.93% | CHEVRON CORP (CVX) - 0.58% |
| #25 | XCEL ENERGY INC (XEL) - 0.93% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 180 | 505 |
VOE vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
VOE
+1.13%
Winner
SPY
+9.11%
3M
VOE
+0.84%
Winner
SPY
+6.59%
6M
Winner
VOE
+11.67%
SPY
+10.56%
1Y
VOE
+23.11%
Winner
SPY
+32.04%
5Y(CAGR)
VOE
+8.13%
Winner
SPY
+13.35%
10Y(CAGR)
VOE
+10.73%
Winner
SPY
+15.49%
Max(CAGR)
Winner
VOE
+9.27%
SPY
+8.50%
VOE vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | VOE | SPY |
|---|---|---|
| 2026 | +7.69% | +8.27% |
| 2025 | +12.46% | +18.00% |
| 2024 | +13.71% | +25.59% |
| 2023 | +10.01% | +26.72% |
| 2022 | -7.96% | -18.64% |
| 2021 | +31.13% | +30.52% |
| 2020 | +2.62% | +17.28% |
| 2019 | +27.88% | +31.09% |
| 2018 | -12.88% | -5.24% |
| 2017 | +16.14% | +20.78% |
| 2016 | +16.61% | +13.59% |
| 2015 | -1.89% | +1.31% |
| 2014 | +15.31% | +14.56% |
| 2013 | +34.58% | +29.00% |
| 2012 | +14.82% | +14.17% |
| 2011 | -1.60% | +0.85% |
| 2010 | +20.01% | +13.14% |
| 2009 | +34.45% | +22.67% |
| 2008 | -35.63% | -36.25% |
| 2007 | -4.15% | +5.32% |
| 2006 | +12.70% | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
VOE vs SPY Drawdown Comparison
The maximum drawdown for VOE was -61.51%, occurring on Mar 9, 2009. Recovery took 983 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current VOE drawdown is -1.53%.
| Rank | VOE | SPY |
|---|---|---|
| #1 | -61.51% Jun 4, 2007 - Apr 27, 2011 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -43.20% Feb 12, 2020 - Dec 4, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -24.10% Apr 29, 2011 - Mar 13, 2012 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -21.49% Jan 26, 2018 - Jul 24, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -19.69% Apr 20, 2022 - Feb 22, 2024 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -18.45% Nov 29, 2024 - Aug 22, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -18.04% May 21, 2015 - Jul 12, 2016 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -11.49% Mar 26, 2012 - Sep 6, 2012 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -8.46% Sep 5, 2014 - Nov 5, 2014 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -7.79% Jan 13, 2022 - Mar 29, 2022 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -7.06% Jul 24, 2019 - Sep 11, 2019 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -6.93% Feb 26, 2026 - Apr 30, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -6.80% May 17, 2013 - Jul 11, 2013 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -6.78% Nov 15, 2021 - Dec 29, 2021 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.78% Jun 8, 2021 - Aug 11, 2021 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between VOE and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (1999 - 2026)
VOE vs SPY dividend yield comparison.
| Year | VOE | SPY |
|---|---|---|
| 2026 | 0.52% | 0.24% |
| 2025 | 2.10% | 1.07% |
| 2024 | 2.11% | 1.21% |
| 2023 | 2.27% | 1.40% |
| 2022 | 2.27% | 1.65% |
| 2021 | 1.78% | 1.20% |
| 2020 | 2.36% | 1.52% |
| 2019 | 2.05% | 1.75% |
| 2018 | 2.75% | 2.04% |
| 2017 | 1.86% | 1.80% |
| 2016 | 1.92% | 2.03% |
| 2015 | 2.05% | 2.06% |
| 2014 | 1.67% | 1.87% |
| 2013 | 1.53% | 1.81% |
| 2012 | 1.93% | 2.18% |
| 2011 | 2.20% | 2.05% |
| 2010 | 1.91% | 1.80% |
| 2009 | 1.95% | 1.95% |
| 2008 | 2.91% | 3.02% |
| 2007 | 2.05% | 1.85% |
| 2006 | 0.64% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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