What is the primary difference between VIOO and VIOV?

VIOO is classified as a Small Blend ETF, offering broad exposure to the Vanguard S&P Small-Cap 600 Index. In contrast, VIOV is a Small Value ETF, which specifically targets companies within that same index that are considered undervalued based on financial metrics. While both funds focus on small-capitalisation stocks, VIOV filters for value characteristics, potentially leading to different performance profiles compared to the broader market exposure of VIOO.

How do expense ratios affect returns over time?

VIOO has an expense ratio of 0.07%, whereas VIOV's is slightly higher at 0.10%. This 0.03 percentage point difference might seem negligible but compounds over time. Lower fees generally allow more of your investment to grow unencumbered by costs. For instance, on a $10,000 investment, the annual fee difference is three dollars. Over long periods, this gap can influence net returns, making the expense ratio a crucial factor when comparing similar ETFs like these Vanguard funds.

What does sector weight data availability mean for investors?

For both VIOO and VIOV, sector weights are currently not available in the provided metrics. This means investors cannot immediately analyse how much of each fund is allocated to specific industries such as technology or healthcare. Without this data, assessing concentration risk within sectors is challenging. Investors must rely on other information, such as top holdings or general index characteristics, to infer potential sector exposure, highlighting the importance of checking updated sources for this specific risk analysis.

How do the top holdings of VIOO and VIOV overlap?

There is a notable overlap between the top ten holdings of VIOO and VIOV. The shared companies include PAYC, MTCH, JXN, and KMX. This suggests that despite VIOV's value focus, several prominent small-cap stocks appear in both funds' top ten lists. However, the weightings differ, with VIOV holding PAYC at 1.07% compared to VIOO's 0.55%. This overlap reduces the uniqueness of the value factor exposure but confirms significant commonality in the underlying small-cap universe.

Which fund offers higher dividend income potential?

VIOV generally offers a higher dividend yield compared to VIOO. Based on the data, VIOV has a yield of 1.73%, while VIOO's is 1.16%. This difference often reflects the nature of value investing, where companies may pay higher dividends relative to their share price. For income-focused investors, this higher yield might be attractive, although it is essential to consider the underlying reasons for the dividend payout and the overall stability of the companies involved in small-cap value strategies.

How do the net asset values compare between the two funds?

VIOO has significantly larger net assets at $4.2 billion, compared to VIOV's $1.8 billion. This higher asset base often translates to greater liquidity and potentially tighter bid-ask spreads for investors trading VIOO. While VIOV's smaller size does not necessarily indicate a problem, it might mean slightly less trading activity. Investors should consider liquidity needs, as larger funds like VIOO can typically absorb larger transactions with less impact on the share price.

What is the concentration risk in VIOO's portfolio?

VIOO exhibits low concentration risk in its top holdings. The largest holding, CORT, represents only 0.60% of the fund. No single stock exceeds 0.60%, indicating a highly diversified approach across the 600 companies in the index. This dispersion means that the performance of VIOO is less dependent on any single company's success or failure, providing a broad exposure to the small-cap market with reduced idiosyncratic risk associated with large individual positions.

How does VIOV's diversification compare to VIOO?

VIOV also offers strong diversification, with no single holding exceeding 1.07% of the fund's assets. Its top position, PAYC, stands at 1.07%, which is higher than VIOO's top weight but still relatively low. This structure helps mitigate the risk of any one company disproportionately affecting the fund's performance. Despite the slightly higher top weight, VIOV remains a diversified small-cap value fund, spreading investments across many stocks to balance potential gains and losses.

Can sector exposure be directly compared between these ETFs?

Directly comparing sector exposure between VIOO and VIOV is not currently possible with the available data, as sector weights are listed as 'not available' for both funds. Investors cannot quantify how much of each fund is allocated to specific sectors like Industrials or Technology without this detailed breakdown. Consequently, any assessment of sector-level risk or correlation between the two funds would require external data sources or waiting for updated disclosures from the fund provider.

What is the inception timeline for these Vanguard funds?

Both VIOO and VIOV were launched on the same date, 7 September 2010. This identical inception date means that both funds have a similar track record length, allowing for comparable historical performance analysis over the same periods. Having a long operational history since 2010 provides investors with sufficient data to evaluate how each fund has navigated various market cycles, although their specific strategies blend and value yield different outcomes.

VIOO vs VIOV

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare the Vanguard S&P Small-Cap 600 ETF (VIOO) with the Vanguard S&P Small-Cap 600 Value ETF (VIOV). This page analyses fees, holdings, dividends and how each fund tracks its market. VIOO has a 0.07% expense ratio, while VIOV stands at 0.10%. Both funds were launched in September 2010. Explore their similarities and differences to understand their respective investment approaches. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

VIOO

Metric

VIOV

0.07%

Expense Ratio

0.10%

1.16%

Dividend Yield

1.73%

$4.17B

Net Assets

$1.80B

609

Holdings

466

Sep 7, 2010

Inception Date

Sep 7, 2010

–

Index Tracked

–

Small Blend

Fund Category

Small Value

VIOO costs about $3.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	VIOO	VIOV
PAYCPaycom Software, Inc.	0.55%	1.07%
MTCHMatch Group, Inc.	0.53%	1.02%
JXNJackson Financial Inc.	0.52%	1.00%
KMXCarMax, Inc.	0.48%	0.94%

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Investment Analysis

VIOO

Pros

The fund offers a low expense ratio of 0.07 per cent for broad small-cap exposure.
It provides diversification across 600 companies with top holdings capped at 0.60 per cent.
The fund is highly liquid with net assets of 4.2 billion dollars.

Considerations

Dividend yield is relatively low at 1.16 per cent.
Sector weights data is not available for investor analysis.
Index tracked data is not available in the provided metrics.

VIOV

Pros

The fund offers a high income potential with a 1.73 per cent dividend yield.
It targets small-cap value equities with a low expense ratio of 0.10 per cent.
It provides diversification with no single holding exceeding 1.07 per cent.

Considerations

Net assets are lower at 1.8 billion dollars compared to the blend ETF.
It shares four top holdings with VIOO which reduces unique factor exposure.
Sector weights data is not available for detailed risk analysis.

About VIOO and VIOV

VIOO (VIOO)

The Vanguard S&P Small-Cap 600 ETF aims to track the performance of U.S. small-cap companies, specifically those included in the S&P Small-Cap 600 index. With a low expense ratio of 0.07%, this fund offers an efficient way for investors to gain exposure to the small-cap segment of the market, which can complement a diversified portfolio. The fund holds 609 different holdings and manages approximately USD 4.17 billion in net assets. Since its inception in September 2010, it has provided a dividend yield of around 1.16%. While small-cap stocks can offer growth potential, they also tend to be more volatile than large-cap stocks. As with all investments, values can rise and fall, and returns are not guaranteed.

VIOV (VIOV)

The Vanguard S&P Small-Cap 600 Value ETF (VIOV) offers investors exposure to a diversified basket of small-capitalisation U.S. companies that exhibit value characteristics. By tracking a specific segment of the U.S. equity market, this fund aims to capture returns associated with smaller, potentially undervalued firms that may offer growth opportunities as they mature. With an expense ratio of just 0.10%, VIOV is designed for cost-conscious investors seeking broad market access. The fund holds approximately 466 positions, providing a wide range of industry exposure while maintaining a focus on value metrics. As with any investment in equities, the value of the fund's shares can fall as well as rise, and past performance is not a reliable indicator of future results. It serves as a tool for portfolio diversification within the small-cap space.

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VIOO vs VIOV

Fund Snapshot

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Investment Analysis

VIOO

Pros

Considerations

VIOV

Pros

Considerations

About VIOO and VIOV

Buy VIOO or VIOV in Nemo

Zero Commission

Trusted & Regulated

6% Interest on Cash

Frequently asked questions

What is the primary difference between VIOO and VIOV?

How do expense ratios affect returns over time?

What does sector weight data availability mean for investors?

How do the top holdings of VIOO and VIOV overlap?

Which fund offers higher dividend income potential?

How do the net asset values compare between the two funds?

What is the concentration risk in VIOO's portfolio?

How does VIOV's diversification compare to VIOO?

Can sector exposure be directly compared between these ETFs?

What is the inception timeline for these Vanguard funds?

Fund Snapshot

About VIOO and VIOV

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AVUV vs VIOV

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