Relative Intelligence · US Extended Market
How Vanguard Extended Market ETF (VXF) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VXF alone. It places VXF (Vanguard Extended Market 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 VXF stands in the market, and of the alternatives worth a closer look.
Period covered: VXF's full trading record, from January 2002 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 22, 2026.
Data as of October 22, 2026. Full tables and charts read best on a larger screen.
This page answers the following questions about VXF
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- What you're buyingA correlation of 0.98 with VB (Vanguard Morningstar Small-Cap ETF) over 5 years: effectively the same bet as the larger fund. Consistency ↓
- Right nowVXF has trailed the market, rising 1.8% over the past 6 months against 8.0% for the S&P 500 and 7.8% for the Nasdaq 100. At a glance ↓
- Fund or market?Not a move of its own: the small-cap stock ETF IWM (iShares Russell 2000 ETF) fell 5.6% over the past 3 months, with VB (Vanguard Morningstar Small-Cap ETF, down 2.3%) and IJH (iShares Core S&P Mid-Cap ETF, down 3.5%), while the S&P 500 rose 2.5%. Its similar funds did not move as one over the past 3 months: VTI (Vanguard Morningstar Total Stock Market ETF) rose 1.9%, while IWM fell 5.6%.
- Long termOver the past decade, VXF returned 11.3% a year against 15.3% a year for the S&P 500 (192% in total against 316%). Growth of $10,000 ↓
- In a crashAcross six sell-offs, VXF has typically fallen 1.3 times as far as the S&P 500. In the 2022 bear market, VXF fell harder than most of its similar funds, including VTI (Vanguard Morningstar Total Stock Market ETF), VO and VB. Crash tests ↓
- DiversificationAgainst the S&P 500, VXF has a correlation of 0.88 over 5 years, more closely than 80% of ETFs with at least $100 million in assets. Next to an index fund it is more of the same, not a cushion. Market capture ↓
- Better options
- Popular alternatives
- VOO (Vanguard S&P 500 ETF), VTI (Vanguard Morningstar Total Stock Market ETF) and IUSG (iShares Core S&P U.S. Growth ETF) earned more than VXF with less volatility over the past 5 years. VOO returned 12.6% a year at 16.9% volatility, against 4.9% a year at 22.4%.
- Nearby categories and themes
- DIA (State Street SPDR Dow Jones Industrial Average ETF Trust, US large-cap equity) and MGV (Vanguard Morningstar Mega Cap Value ETF, US large-cap value) earned more than VXF with less volatility over the past 5 years. DIA returned 10.0% a year at 14.8% volatility, against 4.9% a year at 22.4%.
- Versus the S&P 500
- Simply owning the S&P 500 would have done better over the past 5 years: 12.5% a year at 17.2% volatility, against 4.9% at 22.4% for VXF.
How much would $10,000 in VXF have grown?
This chart tracks a hypothetical $10,000 investment in VXF over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VXF over the same span and VXF's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in VXF at the end of September 2002 would have grown to $143,520 by September 2026, about the same as the $144,215 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VXF, and LIN finished highest, at $287,992.
Choose a period
From the end of September 2002 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 508 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of VXF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- LIN$287,992+2,780% total · +15.0% a year
- RSG$267,850+2,579% total · +14.7% a year
- IUSG$185,936+1,759% total · +13.0% a year
- WM$158,812+1,488% total · +12.2% a year
- VTI$148,983+1,390% total · +11.9% a year
- SPY (S&P 500)$144,215+1,342% total · +11.8% a year
- VXF$143,520+1,335% total · +11.7% a year
- SPTM$141,387+1,314% total · +11.7% a year
- IWR$134,566+1,246% total · +11.4% a year
- IUSV$102,964+930% total · +10.2% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,869 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of VXF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- IUSG$19,677+96.8% total · +14.5% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- SPTM$18,634+86.3% total · +13.3% a year
- VONE$18,367+83.7% total · +12.9% a year
- SCHB$18,104+81.0% total · +12.6% a year
- VTI$18,064+80.6% total · +12.6% a year
- IUSV$17,180+71.8% total · +11.4% a year
- AVUV$16,960+69.6% total · +11.1% a year
- VO$14,310+43.1% total · +7.4% a year
- VXF$13,500+35.0% total · +6.2% a year
VXF 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. These figures serve as the baseline for every comparison that follows.
- VXF's deepest decline since it began trading in 2002 was 57.5%, from October 2007 to March 2009. It took 21 months from the low to climb back to its old high.
- Over 23 full calendar years, VXF's best was 2003, when it returned 45.1%, and its worst was 2008, when it lost 38.7%. It lost money in five of those years.
- VXF is 8.1% below its all-time high.
The fund
- Issuer
- Vanguard
- Began trading
- January 2002
- Expense ratio
- 0.05%per year
- Assets
- $91B
- Category
- Broad Market
Returns
- Past 1 year
- +11.3%total return
- Past 3 years
- +76.3%+20.8% a year
- Past 5 years
- +27.0%+4.9% a year
- Past 10 years
- +192%+11.3% a year
- Best calendar year
- +45.1%2003
- Worst calendar year
- −38.7%2008
- Losing years
- 5 of 23full calendar years
Risk
- Volatility
- 22.4%typical yearly swing, 5 years
- Sharpe ratio
- 0.33return per unit of risk, 5 years
- Worst decline ever
- −57.5%Oct 2007 to Mar 2009
- From its all-time high
- −8.1%below the peak
VXF against the whole market
Where VXF ranks among every stock and fund, and what across the market has done better.
How does VXF rank among all ETFs?
This section ranks VXF on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how VXF stacks up against its peers, these rankings show where it stands in the market as a whole.
- VXF is among the more volatile ETFs: its price swings rank in the bottom 18% of the 1,563 ETFs with at least $100 million in assets, where the top is the calmest.
Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.
| Measure | VXF | Rank | Standing |
|---|---|---|---|
| 1-year return | +11.3% | 1,168 of 2,488 | top 47% |
| 3-year return | +76.3% | 647 of 1,950 | top 33% |
| 5-year return | +27.0% | 1,034 of 1,563 | bottom 35% |
| 10-year return | +192% | 313 of 958 | top 33% |
| Volatility, 5 years | 22.4% | 1,280 of 1,563 | bottom 19% |
| Sharpe ratio, 5 years | 0.33 | 1,200 of 1,563 | bottom 24% |
| Worst decline, past 10 years | −41.7% | 598 of 951 | bottom 38% |
What has beaten VXF 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). VXF sits where the dashed lines cross. Anything in the green box above and to the left earned more than VXF with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- 55 stocks and 492 ETFs worth at least $500 million sit in the green region: each earned more than VXF over the past 5 years with smaller price swings. That is 15% of the 3,641 screened.
- Among those with at least half VXF's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 15% less than VXF's 22.4%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.33 for VXF.
- Among VXF's popular alternatives, IUSV, VOO and SPTM are in the region. IUSV earned 11.3% a year against 4.9% a year for VXF, at 14.3% volatility, 36% less than VXF's 22.4%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to VXF; faint dots are 89 more of the 547 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than VXF?
Investments that beat VXF over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among VXF's popular alternatives, VOO, VTI and IUSG earned more than VXF with less volatility over the past 5 years. VOO returned 12.6% a year at 16.9% volatility, against 4.9% a year at 22.4%.
- Looking beyond its popular alternatives, DIA (US large-cap equity) and MGV (US large-cap value) earned more than VXF with less volatility over the past 5 years. DIA returned 10.0% a year at 14.8% volatility, against 4.9% a year at 22.4%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.5% a year at 17.2% volatility, against 4.9% at 22.4% for VXF.
How this works
The table below lists investments that beat VXF 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. It checks VXF's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than VXF follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than VXF's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× VXF's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than VXF's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with VXF?lower diversifies more | Expenseper year | |||
| VXFVanguard Extended Market ETF · this page | +4.9% | 22.4% | 0.33 | −41.7% | +192% | 1.00 | 0.05% | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.88 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against VXF. 17 of 22 passed at least one test. | |||||||||
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.6% | 16.9% | 0.79 | −34.0% | +319% | 0.88 | 0.03% | |
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.4% | 17.5% | 0.71 | −35.0% | +298% | 0.92 | 0.03% | |
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.4% | 21.3% | 0.66 | −32.4% | +390% | 0.81 | 0.04% | |
 VOVanguard Morningstar Mid-Cap ETF · US Mid-Cap Equity | Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes | +6.8% | 17.6% | 0.46 | −39.4% | +199% | 0.95 | 0.03% | |
IUSViShares Core S&P U.S. Value ETF · US Large-Cap Value | Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes | +11.3% | 14.3% | 0.82 | −37.5% | +216% | 0.86 | 0.04% | |
AVUVAvantis U.S. Small Cap Value ETF · US Small-Cap Value | Higher return, similar volatility | +10.7% | 22.1% | 0.57 | −49.4% | — | 0.88 | 0.25% | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in US Extended Market and the categories next to it (US Small-Cap Equity, US Total Market, US Mid-Cap Equity, US Large-Cap Equity), plus VXF's specific themes. 186 of 217 passed at least one test. | |||||||||
 DIAState Street SPDR Dow Jones Industrial Average ETF Trust · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +10.0% | 14.8% | 0.72 | −36.7% | +251% | 0.86 | 0.16% | |
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.8% | 13.4% | 0.96 | −35.4% | +247% | 0.80 | 0.05% | |
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.87 | 0.39% | |
MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.5% | 18.4% | 0.59 | −33.3% | +278% | 0.85 | 0.46% | |
PWBInvesco Large Cap Growth ETF · US Large-Cap Growth | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.0% | 22.3% | 0.70 | −32.4% | +389% | 0.81 | 0.55% | |
OSCVOpus Small Cap Value Plus ETF · US Small-Cap Value | Similar return, lower volatility | +4.6% | 17.0% | 0.35 | −42.4% | — | 0.87 | 0.79% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 905 of 3,443 passed at least one test. | |||||||||
 BRK-ABerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.42 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.19 | — | |
 LINLinde plc · Chemicals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.7% | 20.9% | 0.64 | −32.6% | +404% | 0.51 | — | |
 SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +10.2% | 14.4% | 0.75 | −33.4% | +256% | 0.69 | 0.06% | |
 VTVanguard Total World Stock ETF · Global Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +10.1% | 16.2% | 0.68 | −34.2% | +220% | 0.89 | 0.06% | |
 RSGRepublic Services, Inc. · Waste Management | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.1% | 18.6% | 0.80 | −34.0% | +461% | 0.31 | — | |
 VVisa Inc. · Payment Processing | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.2% | 22.9% | 0.66 | −36.4% | +435% | 0.54 | — | |
JAAAJanus Henderson AAA CLO ETF · AAA CLO Debt | On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.40 | 0.20% | |
What these numbers mean for VXF
- Annual return
- VXF returned 4.9% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $12,700. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- VXF's volatility over the past 5 years was 22.4%, 1.3 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VXF's return lands within 22.4% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- VXF's Sharpe ratio over the past 5 years was 0.33, against 0.78 for the S&P 500, so VXF earned less 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. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- VXF's worst fall from a peak to a low over the past 10 years was 41.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 41.7% fall takes a 71.6% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, VXF's monthly returns had a correlation of 0.88 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 VXF instead: the lower it is, the more that option would diversify a VXF holding. Guide: Correlation and diversification →
Show all 547 stocks and funds worth at least $500 million that earned more than VXF with less volatility
Out of 3,641 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with VXF | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BRK-ABerkshire Hathaway Inc. · Insurance | Whole market | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.42 | — |
| 2 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.19 | — |
| 3 | LINLinde plc · Chemicals | Whole market | +11.7% | 20.9% | 0.64 | −32.6% | +404% | 0.51 | — |
| 4 |  VIGVanguard Dividend Appreciation ETF · Dividend Growth | Whole market | +10.4% | 14.1% | 0.77 | −31.7% | +258% | 0.85 | 0.04% |
| 5 |  VYMVanguard High Dividend Yield ETF · High Dividend Yield | Whole market | +11.6% | 13.8% | 0.87 | −35.2% | +209% | 0.78 | 0.04% |
| 6 | SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +10.2% | 14.4% | 0.75 | −33.4% | +256% | 0.69 | 0.06% |
| 7 | VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.1% | 16.2% | 0.68 | −34.2% | +220% | 0.89 | 0.06% |
| 8 | RSGRepublic Services, Inc. · Waste Management | Whole market | +14.1% | 18.6% | 0.80 | −34.0% | +461% | 0.31 | — |
| 9 |  WMWaste Management, Inc. · Waste Management | Whole market | +9.5% | 19.3% | 0.57 | −30.1% | +357% | 0.31 | — |
| 10 |  AEPAmerican Electric Power Company, Inc. · Electric Utilities | Whole market | +12.8% | 20.2% | 0.70 | −32.9% | +192% | 0.38 | — |
| 11 |  QUALiShares MSCI USA Quality Factor ETF · US Quality Equity | Whole market | +11.2% | 17.3% | 0.70 | −34.1% | +290% | 0.86 | 0.15% |
| 12 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +208% | 0.50 | 0.08% |
| 13 |  IVViShares Core S&P 500 ETF · US Large-Cap Equity | Same or nearby category | +12.6% | 17.0% | 0.79 | −33.9% | +319% | 0.88 | 0.03% |
| 14 |  WCNWaste Connections, Inc. · Waste Management | Whole market | +7.4% | 20.4% | 0.45 | −31.6% | +299% | 0.46 | — |
| 15 | DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity | Whole market | +11.7% | 14.0% | 0.87 | −32.0% | +271% | 0.83 | 0.28% |
| 16 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +11.7% | 16.7% | 0.75 | −31.6% | +295% | 0.84 | 0.20% |
| 17 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.6% | 17.2% | 0.94 | −31.4% | +357% | 0.76 | 0.40% |
| 18 | MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Same or nearby category | +12.8% | 13.4% | 0.96 | −35.4% | +247% | 0.80 | 0.05% |
| 19 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Same or nearby category | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.87 | 0.39% |
| 20 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity | Whole market | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.51 | 0.40% |
| 21 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.4% | 20.7% | 0.89 | −26.8% | +234% | 0.26 | — |
| 22 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Same or nearby category | +9.5% | 18.4% | 0.59 | −33.3% | +278% | 0.85 | 0.46% |
| 23 | IWXiShares Russell Top 200 Value ETF · US Large-Cap Value | Same or nearby category | +12.7% | 13.8% | 0.94 | −35.8% | +223% | 0.81 | 0.20% |
| 24 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.1% | 16.9% | 0.60 | −35.8% | +152% | 0.75 | 0.03% |
| 25 | QUSState Street SPDR MSCI USA StrategicFactors ETF · US Multifactor Equity | Whole market | +11.1% | 14.2% | 0.81 | −33.8% | +276% | 0.85 | 0.15% |
| 26 | EQLALPS Equal Sector Weight ETF · US Large-Cap Equity | Same or nearby category | +13.4% | 14.5% | 0.94 | −34.2% | +385% | 0.85 | 0.19% |
| 27 | PTNQPacer Trendpilot 100 ETF · Tactical Asset Allocation | Whole market | +9.4% | 14.2% | 0.70 | −28.1% | +292% | 0.61 | 0.65% |
| 28 | LGLVState Street SPDR US Large Cap Low Volatility Index ETF · US Low-Volatility Equity | Whole market | +7.8% | 13.0% | 0.64 | −36.6% | +205% | 0.71 | 0.12% |
| 29 | DGTState Street SPDR Global Dow ETF · Global Equity | Whole market | +13.9% | 15.1% | 0.95 | −34.4% | +260% | 0.77 | 0.50% |
| 30 |  KOThe Coca-Cola Company · Nonalcoholic Beverages | Whole market | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.16 | — |
| 31 | QQQEDirexion NASDAQ-100 Equal Weighted Index ETF · US Large-Cap Equity | Same or nearby category | +7.8% | 20.7% | 0.47 | −32.1% | +287% | 0.91 | 0.35% |
| 32 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.4% | 17.5% | 0.86 | −34.7% | — | 0.90 | 0.26% |
| 33 | DFIVDimensional - International Value ETF · International Large-Cap Value | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.61 | 0.27% |
| 34 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.1% | 20.9% | 0.91 | −30.9% | +485% | 0.75 | 0.13% |
| 35 | ESGUiShares ESG Aware MSCI USA ETF · Large-Cap ESG | Whole market | +11.4% | 17.4% | 0.71 | −33.9% | — | 0.89 | 0.15% |
| 36 |  RYRoyal Bank of Canada · Banks | Whole market | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.64 | — |
| 37 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +12.9% | 13.8% | 0.95 | −32.5% | +204% | 0.74 | 0.35% |
| 38 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.5% | 15.7% | 0.89 | −32.9% | — | 0.87 | 0.12% |
| 39 | VPLVanguard FTSE Pacific ETF · International Equity | Whole market | +9.3% | 18.6% | 0.57 | −33.9% | +138% | 0.72 | 0.07% |
| 40 |  GLDSPDR Gold Shares · Gold | Whole market | +17.1% | 19.0% | 0.93 | −26.4% | +206% | 0.10 | 0.40% |
| 41 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +13.9% | 16.9% | 0.86 | −19.5% | — | 0.89 | 0.15% |
| 42 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.47 | — |
| 43 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.5% | 21.3% | 0.83 | −32.0% | +384% | 0.74 | 0.50% |
| 44 | RDVYFirst Trust Rising Dividend Achievers ETF · Dividend Growth | Whole market | +11.3% | 18.8% | 0.67 | −40.6% | +321% | 0.90 | 0.47% |
| 45 | IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity | Popular alternative | +12.4% | 21.3% | 0.66 | −32.4% | +390% | 0.81 | 0.04% |
| 46 | FVFirst Trust Dorsey Wright Focus 5 ETF · US Momentum Equity | Whole market | +9.4% | 21.1% | 0.54 | −34.0% | +243% | 0.87 | 0.30% |
| 47 | JMOMJPMorgan U.S. Momentum Factor ETF · US Momentum Equity | Whole market | +12.3% | 19.1% | 0.70 | −34.3% | — | 0.91 | 0.12% |
| 48 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield | Whole market | +14.6% | 14.5% | 1.02 | −41.4% | +207% | 0.57 | 0.43% |
| 49 | XTiShares Future Exponential Technologies ETF · Disruptive Technology Equity | Whole market | +7.1% | 21.2% | 0.43 | −34.4% | +278% | 0.88 | 0.46% |
| 50 | RODMHartford Multifactor Developed Markets (ex-US) ETF · Developed International Equity | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +142% | 0.67 | 0.29% |
| 51 | IHEiShares U.S. Pharmaceuticals ETF · Pharmaceuticals | Whole market | +12.9% | 16.8% | 0.81 | −29.6% | +157% | 0.44 | 0.37% |
| 52 | FFLCFidelity Fundamental Large Cap Core ETF · Active Core Equity | Same or nearby category | +15.5% | 16.8% | 0.94 | −19.7% | — | 0.85 | 0.38% |
| 53 | IUSInvesco RAFI Strategic US ETF · US Total Market | Same or nearby category | +14.7% | 14.9% | 1.00 | −34.7% | — | 0.86 | 0.19% |
| 54 | FDLOFidelity Low Volatility Factor ETF · US Low-Volatility Equity | Whole market | +9.7% | 13.0% | 0.78 | −34.4% | +249% | 0.76 | 0.15% |
| 55 | TMFCMotley Fool 100 Index ETF · US Large-Cap Growth | Same or nearby category | +13.6% | 20.5% | 0.73 | −33.1% | — | 0.80 | 0.50% |
| 56 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +15.9% | 18.5% | 0.90 | −32.9% | +207% | 0.45 | — |
| 57 |  SPYVState Street SPDR Portfolio S&P 500 Value ETF · US Large-Cap Value | Same or nearby category | +11.6% | 14.2% | 0.85 | −36.9% | +219% | 0.85 | 0.04% |
| 58 | DBJPXtrackers MSCI Japan Hedged Equity ETF · Japan Equity | Whole market | +20.9% | 19.3% | 1.09 | −31.3% | +339% | 0.57 | 0.45% |
| 59 | SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity | Same or nearby category | +12.9% | 12.7% | 1.02 | −18.4% | — | 0.76 | 0.31% |
| 60 | FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Pharmaceuticals | Whole market | +12.3% | 16.9% | 0.77 | −32.1% | +155% | 0.50 | 0.60% |
| 61 | HLALWahed FTSE USA Shariah ETF · Faith-Based Equity | Whole market | +13.6% | 18.0% | 0.80 | −33.6% | — | 0.81 | 0.50% |
| 62 | DOLWisdomTree True Developed International Fund · International Dividend Equity | Whole market | +12.4% | 15.6% | 0.83 | −36.0% | +139% | 0.62 | 0.48% |
| 63 | DUSADavis Select U.S. Equity ETF · Concentrated Equity | Same or nearby category | +11.5% | 18.4% | 0.69 | −36.7% | — | 0.85 | 0.59% |
| 64 | NTSXWisdomTree U.S. Efficient Core Fund · Balanced Allocation | Whole market | +8.1% | 17.2% | 0.54 | −31.4% | — | 0.87 | 0.20% |
| 65 | VSLUApplied Finance Valuation Large Cap ETF · US Large-Cap Value | Same or nearby category | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.83 | 0.49% |
| 66 | EWJViShares MSCI Japan Value ETF · Japan Equity | Whole market | +15.1% | 18.2% | 0.87 | −30.1% | — | 0.51 | 0.15% |
| 67 | FDRRFidelity Dividend ETF for Rising Rates · US Dividend Equity | Whole market | +12.7% | 15.0% | 0.88 | −36.5% | +264% | 0.80 | 0.15% |
| 68 | IDHQInvesco S&P International Developed Quality ETF · International Equity | Whole market | +9.8% | 17.9% | 0.61 | −33.6% | +184% | 0.72 | 0.29% |
| 69 | BBMCJPMorgan BetaBuilders U.S. Mid Cap Equity ETF · US Mid-Cap Equity | Same or nearby category | +7.0% | 20.5% | 0.43 | −30.1% | — | 0.98 | 0.07% |
| 70 | DXJWisdomTree Japan Hedged Equity Fund · Japan Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.44 | 0.48% |
| 71 | AEEAmeren Corporation · Electric Utilities | Whole market | +8.2% | 19.4% | 0.50 | −29.1% | +199% | 0.35 | — |
| 72 | DJDInvesco Dow Jones Industrial Average Dividend ETF · High Dividend Yield | Whole market | +12.5% | 13.3% | 0.95 | −34.7% | +233% | 0.70 | 0.07% |
| 73 | PJPInvesco Pharmaceuticals ETF · Pharmaceuticals | Whole market | +11.3% | 16.6% | 0.73 | −34.0% | +139% | 0.51 | 0.58% |
| 74 | LGHHCM Defender 500 Index ETF · Tactical Asset Allocation | Whole market | +9.2% | 16.7% | 0.61 | −29.6% | — | 0.82 | 1.00% |
| 75 | PWVInvesco Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +13.7% | 14.2% | 0.98 | −37.6% | +226% | 0.76 | 0.55% |
| 76 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.59 | — |
| 77 | XMHQInvesco S&P MidCap Quality ETF · US Mid-Cap Equity | Same or nearby category | +9.6% | 20.5% | 0.55 | −36.9% | +241% | 0.89 | 0.30% |
| 78 | PKWInvesco BuyBack Achievers ETF · US Buyback Equity | Whole market | +10.7% | 17.3% | 0.68 | −40.9% | +261% | 0.88 | 0.63% |
| 79 | EUSAiShares MSCI USA Equal Weighted ETF · US Equal-Weight Equity | Whole market | +7.1% | 16.9% | 0.49 | −39.1% | +199% | 0.95 | 0.09% |
| 80 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.8% | 20.4% | 0.82 | −42.6% | +256% | 0.31 | — |
| 81 | FEXFirst Trust Large Cap Core AlphaDEX Fund · Multifactor Equity | Same or nearby category | +10.1% | 16.5% | 0.67 | −39.5% | +237% | 0.93 | 0.57% |
| 82 | FTCSFirst Trust Capital Strength ETF · US Quality Equity | Whole market | +6.5% | 13.3% | 0.54 | −31.9% | +191% | 0.72 | 0.53% |
| 83 | FYLDCambria Foreign Shareholder Yield ETF · International Dividend Equity | Whole market | +13.1% | 16.0% | 0.86 | −44.6% | +203% | 0.54 | 0.59% |
| 84 |  BNSThe Bank of Nova Scotia · Banks | Whole market | +13.2% | 20.0% | 0.73 | −46.9% | +191% | 0.74 | — |
| 85 | BALTInnovator Defined Wealth Shield ETF · US Equity Buffer | Whole market | +6.2% | 3.3% | 1.84 | −4.9% | — | 0.73 | 0.69% |
| 86 |  CMECME Group Inc. · Capital Markets | Whole market | +11.6% | 20.8% | 0.63 | −37.4% | +334% | 0.08 | — |
| 87 |  AFLAflac Incorporated · Life Insurance | Whole market | +19.5% | 20.8% | 0.97 | −54.9% | +344% | 0.36 | — |
| 88 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Bank Loans | Whole market | +6.0% | 2.3% | 2.55 | −20.9% | +58.7% | 0.54 | 0.60% |
| 89 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities | Whole market | +21.1% | 18.4% | 1.14 | −45.7% | — | 0.03 | 0.80% |
| 90 |  SLFSun Life Financial Inc. · Life Insurance | Whole market | +11.9% | 19.4% | 0.68 | −50.8% | +260% | 0.63 | — |
| 91 |  XLFState Street Financial Select Sector SPDR ETF · Financial Sector Equity | Whole market | +8.7% | 18.3% | 0.55 | −42.9% | +245% | 0.79 | 0.08% |
| 92 | TPYPTortoise North American Pipeline ETF · Energy Infrastructure | Whole market | +17.2% | 17.3% | 1.01 | −51.9% | +188% | 0.56 | 0.40% |
| 93 | FNDFSchwab Fundamental International Large Company Index ETF · International Large-Cap Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +193% | 0.65 | 0.25% |
| 94 | VYMIVanguard International High Dividend Yield ETF · International Dividend Equity | Whole market | +13.2% | 14.8% | 0.92 | −40.0% | +174% | 0.61 | 0.07% |
| 95 | LLoews Corporation · Property & Casualty Insurance | Whole market | +15.0% | 19.2% | 0.83 | −48.5% | +190% | 0.50 | — |
| 96 | AVDVAvantis International Small Cap Value ETF · International Equity | Whole market | +13.6% | 17.4% | 0.82 | −43.0% | — | 0.67 | 0.36% |
| 97 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · US Dividend Equity | Whole market | +9.5% | 13.4% | 0.75 | −33.1% | +189% | 0.74 | 0.48% |
| 98 | EVRGEvergy, Inc. · Electric Utilities | Whole market | +9.9% | 19.0% | 0.60 | −38.8% | +113% | 0.45 | — |
| 99 | FDVVFidelity High Dividend ETF · High Dividend Yield | Whole market | +13.4% | 14.6% | 0.94 | −40.2% | +255% | 0.80 | 0.15% |
| 100 | FJANFT Vest U.S. Equity Buffer ETF - January · US Equity Buffer | Whole market | +11.0% | 10.5% | 1.04 | −13.6% | — | 0.81 | 0.85% |
VXF against its popular alternatives
The investments people most often weigh against VXF, compared period by period and year by year.
How do VXF'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. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at VXF, which divides the map into what did better or worse on each measure.
- 17 of the 17 popular alternatives, led by IUSG, SPTM and VONE, were both more rewarding and calmer than VXF over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VXF returned 4.9% a year, less than the S&P 500's 12.5%, with higher volatility (22.4% against 17.2%).
Green points earned more than VXF with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| IUSG iShares Core S&P U.S. Growth ETF | +12.4% | 21.3% |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | +12.1% | 16.9% |
| VONE Vanguard Russell 1000 ETF | +11.8% | 17.2% |
| SCHB Schwab U.S. Broad Market ETF | +11.4% | 17.3% |
| VTI Vanguard Morningstar Total Stock Market ETF | +11.4% | 17.5% |
| IUSV iShares Core S&P U.S. Value ETF | +11.3% | 14.3% |
| AVUV Avantis U.S. Small Cap Value ETF | +10.7% | 22.1% |
| VXUS Vanguard Total International Stock ETF | +8.0% | 16.4% |
| IWR iShares Russell Mid-Cap ETF | +7.2% | 18.2% |
| SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | +7.0% | 19.6% |
| VO Vanguard Morningstar Mid-Cap ETF | +6.8% | 17.6% |
| SCHM Schwab U.S. Mid-Cap ETF | +6.7% | 19.7% |
| VB Vanguard Morningstar Small-Cap ETF | +6.2% | 20.6% |
| SCHA Schwab U.S. Small-Cap ETF | +6.0% | 22.0% |
| IJR iShares Core S&P Small-Cap ETF | +5.8% | 21.1% |
| VTWO Vanguard Russell 2000 ETF | +5.5% | 22.4% |
| IWM iShares Russell 2000 ETF | +5.3% | 22.4% |
| VXF This pageVanguard Extended Market ETF | +4.9% | 22.4% |
Has VXF consistently beaten its popular alternatives?
This section compares VXF with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than VXF helps separate lasting outperformance from a single strong stretch.
- 11 of the 22 popular alternatives, led by VOO, VONE and SPTM, outperformed VXF in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- VOO, VONE and SPTM outperformed VXF in every long-term period and in all but one short-term period, the most consistent record in the group.
- IUSV, VOO and SPTM earned more for the risk they took than VXF (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than VXF over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| VXF Vanguard Extended Market ETF (this page) | — | −3.5% | −3.1% | +1.8% | +9.5% | +11.3% | +76.3% | +27.0% | +192% | 22.4% | 0.33 | −41.7% | 0.05% | $91B | — |
| VOO QualifiedVanguard S&P 500 ETF | 5/5 short3/3 longAll-weather | −1.2% | +2.5% | +8.0% | +12.7% | +15.7% | +88.8% | +80.8% | +319% | 16.9% | 0.79 | −34.0% | 0.03% | $1.7T | 72% |
| VONE QualifiedVanguard Russell 1000 ETF | 5/5 short3/3 longAll-weather | −1.2% | +2.4% | +7.6% | +12.3% | +15.2% | +87.6% | +74.4% | +308% | 17.2% | 0.74 | −34.7% | 0.06% | $12B | 74% |
| SPTM QualifiedState Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 5/5 short3/3 longAll-weather | −1.2% | +2.0% | +7.5% | +12.6% | +15.6% | +86.6% | +77.1% | +306% | 16.9% | 0.76 | −34.7% | 0.03% | $14B | 75% |
| VTI QualifiedVanguard Morningstar Total Stock Market ETF | 5/5 short3/3 longAll-weather | −1.4% | +1.9% | +7.3% | +12.4% | +15.3% | +87.3% | +71.5% | +298% | 17.5% | 0.71 | −35.0% | 0.03% | $2.3T | 74% |
| ITOT QualifiediShares Core S&P Total U.S. Stock Market ETF | 5/5 short3/3 longAll-weather | −1.5% | +1.8% | +7.3% | +12.4% | +15.3% | +87.4% | +71.5% | +297% | 17.4% | 0.71 | −35.0% | 0.03% | $96B | 75% |
| VTHR QualifiedVanguard Russell 3000 ETF | 5/5 short3/3 longAll-weather | −1.4% | +2.0% | +7.4% | +12.5% | +15.2% | +87.0% | +71.5% | +296% | 17.4% | 0.71 | −34.6% | 0.06% | $6.5B | 76% |
| SCHB QualifiedSchwab U.S. Broad Market ETF | 5/5 short3/3 longAll-weather | −1.5% | +1.8% | +7.3% | +12.4% | +15.2% | +87.3% | +71.6% | +282% | 17.3% | 0.71 | −35.3% | 0.03% | $44B | 74% |
| IUSG QualifiediShares Core S&P U.S. Growth ETF | 4/5 short3/3 longAll-weather | −4.4% | +0.7% | +6.2% | +11.6% | +14.5% | +103% | +79.5% | +390% | 21.3% | 0.66 | −32.4% | 0.04% | $33B | 57% |
| IUSV QualifiediShares Core S&P U.S. Value ETF | 5/5 short2/3 long | +2.7% | +3.8% | +9.3% | +13.7% | +17.0% | +68.6% | +71.1% | +216% | 14.3% | 0.82 | −37.5% | 0.04% | $28B | 85% |
| VO QualifiedVanguard Morningstar Mid-Cap ETF | 5/5 short2/3 long | +1.3% | +1.3% | +6.8% | +12.3% | +13.2% | +70.7% | +39.0% | +199% | 17.6% | 0.46 | −39.4% | 0.03% | $217B | 86% |
| IWR QualifiediShares Russell Mid-Cap ETF | 5/5 short2/3 long | +0.8% | +1.0% | +6.5% | +13.9% | +16.0% | +72.8% | +41.5% | +198% | 18.2% | 0.47 | −40.6% | 0.18% | $56B | 90% |
| SCHM Broad MarketSchwab U.S. Mid-Cap ETF | 5/5 short1/3 long | −0.6% | −1.2% | +3.5% | +15.0% | +19.1% | +69.6% | +38.5% | +182% | 19.7% | 0.43 | −42.5% | 0.03% | $14B | 90% |
| VB Broad MarketVanguard Morningstar Small-Cap ETF | 4/5 short1/3 long | −1.0% | −2.3% | +2.1% | +11.4% | +15.1% | +68.6% | +35.2% | +179% | 20.6% | 0.40 | −42.0% | 0.03% | $176B | 91% |
| IJR Broad MarketiShares Core S&P Small-Cap ETF | 4/5 short1/3 long | −0.8% | −4.5% | +2.9% | +15.2% | +18.1% | +63.5% | +32.2% | +165% | 21.1% | 0.37 | −44.4% | 0.06% | $102B | 85% |
| SPSM Broad MarketState Street SPDR Portfolio S&P 600 Small Cap ETF | 4/5 short1/3 long | −0.7% | −4.6% | +3.0% | +15.2% | +18.3% | +63.7% | +32.7% | +164% | 21.1% | 0.38 | −42.9% | 0.03% | $16B | 84% |
| AVUV Broad MarketAvantis U.S. Small Cap Value ETF | 4/5 short1/3 long | +0.4% | −2.7% | +4.0% | +19.5% | +26.0% | +72.9% | +66.2% | — | 22.1% | 0.57 | −49.4% | 0.25% | $31B | 62% |
| SCHA Broad MarketSchwab U.S. Small-Cap ETF | 3/5 short1/3 long | −2.9% | −4.9% | +1.9% | +14.3% | +18.5% | +75.2% | +33.9% | +164% | 22.0% | 0.38 | −42.4% | 0.03% | $21B | 89% |
| SPMD Broad MarketState Street SPDR Portfolio S&P 400 Mid Cap ETF | 2/5 short1/3 long | −1.0% | −3.5% | +0.8% | +9.7% | +13.9% | +60.3% | +40.3% | +181% | 19.6% | 0.45 | −41.9% | 0.03% | $18B | 85% |
| IJH Broad MarketiShares Core S&P Mid-Cap ETF | 2/5 short1/3 long | −0.9% | −3.5% | +0.8% | +9.7% | +13.9% | +60.3% | +40.3% | +176% | 19.6% | 0.44 | −42.2% | 0.05% | $121B | 86% |
| VTWO Broad MarketVanguard Russell 2000 ETF | 2/5 short1/3 long | −3.6% | −5.5% | +0.6% | +12.1% | +15.0% | +74.2% | +30.6% | +161% | 22.4% | 0.35 | −41.2% | 0.06% | $17B | 85% |
| IWM Broad MarketiShares Russell 2000 ETF | 2/5 short1/3 long | −3.7% | −5.6% | +0.6% | +12.0% | +14.8% | +73.3% | +29.4% | +157% | 22.4% | 0.34 | −41.1% | 0.19% | $75B | 84% |
| VXUS InternationalVanguard Total International Stock ETF | 2/5 short1/3 long | −5.4% | −1.9% | +0.8% | +8.9% | +14.3% | +75.1% | +47.2% | +137% | 16.4% | 0.56 | −36.0% | 0.05% | $666B | 81% |
How did VXF do year by year?
This table shows each investment's total return in every full calendar year since 2003, along with where VXF ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with VXF and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- Ranked against its popular alternatives each year, VXF finished in the top quarter in seven of 23 years and in the bottom quarter in three. In 2025, it ranked 12 of 18.
- VXF finished ahead of the S&P 500 in ten of its 23 full calendar years, and behind it in each of the last two.
- Among its popular alternatives, VONE came out ahead of VXF most often, in 11 of the 15 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of VXF; gray means the two finished within a fraction of a point. The rank row places VXF among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of VXF | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VXF This pageVanguard Extended Market ETF | — | +11.4% | +16.9% | +25.5% | −26.5% | +12.3% | +32.5% | +28.0% | −9.3% | +18.0% | +16.2% | −3.3% | +7.6% | +38.3% | +18.6% | −3.6% | +27.6% | +37.9% | −38.6% | +5.9% | +15.9% | +11.7% | +19.5% | +45.1% |
| Rank among alternatives | Top quarter in 7 of 23 | 12 of 18 | 6 of 18 | 6 of 18 | 17 of 18 | 17 of 18 | 2 of 18 | 9 of 17 | 11 of 17 | 10 of 17 | 8 of 17 | 11 of 17 | 12 of 17 | 6 of 17 | 1 of 17 | 13 of 15 | 3 of 13 | 4 of 11 | 9 of 11 | 2 of 11 | 3 of 11 | 3 of 10 | 3 of 8 | 2 of 8 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 11 of 23 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% |
| VONE Vanguard Russell 1000 ETF | 11 of 15 | +17.2% | +24.5% | +26.4% | −19.1% | +26.5% | +20.9% | +31.1% | −4.8% | +21.5% | +11.8% | +0.7% | +13.3% | +33.0% | +16.2% | +1.5% | — | — | — | — | — | — | — | — |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 11 of 23 | +16.9% | +23.9% | +25.6% | −17.8% | +28.5% | +18.0% | +31.4% | −5.3% | +21.1% | +12.3% | +0.2% | +13.4% | +33.6% | +15.8% | +0.8% | +17.3% | +28.1% | −36.6% | +5.2% | +14.8% | +6.7% | +10.5% | +27.0% |
| VTI Vanguard Morningstar Total Stock Market ETF | 11 of 23 | +17.1% | +23.8% | +26.0% | −19.5% | +25.7% | +21.1% | +30.7% | −5.2% | +21.2% | +12.8% | +0.4% | +12.5% | +33.4% | +16.4% | +1.0% | +17.4% | +28.9% | −37.0% | +5.3% | +15.7% | +6.3% | +12.8% | +30.7% |
| SCHB Schwab U.S. Broad Market ETF | 10 of 16 | +16.9% | +23.9% | +26.1% | −19.4% | +25.8% | +19.6% | +29.5% | −6.1% | +20.0% | +14.7% | −0.7% | +11.5% | +31.8% | +14.8% | +1.0% | +16.3% | — | — | — | — | — | — | — |
| IUSG iShares Core S&P U.S. Growth ETF | 11 of 23 | +21.2% | +34.7% | +29.3% | −28.8% | +31.3% | +32.6% | +30.6% | −0.8% | +27.0% | +7.3% | +5.0% | +12.4% | +34.0% | +14.9% | +1.9% | +17.3% | +36.8% | −38.6% | +11.3% | +9.3% | +5.1% | +6.4% | +30.3% |
| IUSV iShares Core S&P U.S. Value ETF | 9 of 23 | +12.8% | +12.2% | +21.7% | −5.4% | +25.2% | +1.6% | +31.5% | −9.2% | +15.1% | +18.5% | −4.4% | +12.8% | +32.2% | +17.3% | −0.4% | +15.8% | +19.6% | −36.1% | −1.4% | +21.9% | +6.6% | +16.9% | +30.8% |
| VO Vanguard Morningstar Mid-Cap ETF | 9 of 21 | +11.6% | +15.3% | +16.0% | −18.8% | +24.7% | +18.1% | +30.9% | −9.2% | +19.3% | +11.2% | −1.3% | +13.8% | +35.1% | +16.2% | −2.0% | +25.5% | +40.6% | −41.6% | +5.5% | +14.0% | +13.9% | — | — |
| IWR iShares Russell Mid-Cap ETF | 8 of 23 | +10.4% | +15.2% | +17.0% | −17.5% | +22.4% | +17.0% | +30.2% | −9.1% | +18.2% | +13.7% | −2.6% | +13.1% | +34.5% | +17.1% | −1.8% | +25.3% | +40.7% | −41.4% | +5.1% | +15.1% | +12.6% | +19.7% | +39.6% |
| SCHM Schwab U.S. Mid-Cap ETF | 6 of 14 | +10.1% | +12.0% | +16.8% | −17.1% | +19.3% | +15.2% | +27.4% | −8.8% | +19.5% | +14.4% | −0.1% | +10.4% | +36.2% | +17.6% | — | — | — | — | — | — | — | — | — |
| VB Vanguard Morningstar Small-Cap ETF | 5 of 21 | +8.9% | +14.2% | +18.2% | −17.5% | +17.6% | +19.2% | +27.3% | −9.3% | +16.3% | +18.4% | −3.8% | +7.6% | +37.7% | +18.3% | −2.8% | +28.1% | +36.6% | −36.2% | 0.0% | +14.4% | +6.0% | — | — |
| IJR iShares Core S&P Small-Cap ETF | 9 of 23 | +5.9% | +8.6% | +16.1% | −16.2% | +26.6% | +11.3% | +22.8% | −8.5% | +13.2% | +26.6% | −2.1% | +5.8% | +41.4% | +16.3% | +0.8% | +26.7% | +25.9% | −31.5% | −0.5% | +15.1% | +7.5% | +22.4% | +38.5% |
| AVUV Avantis U.S. Small Cap Value ETF | 2 of 6 | +7.4% | +9.3% | +22.8% | −4.9% | +42.2% | +6.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SCHA Schwab U.S. Small-Cap ETF | 5 of 16 | +11.7% | +11.2% | +18.4% | −19.8% | +16.4% | +19.3% | +26.4% | −11.7% | +14.2% | +20.0% | −4.2% | +6.5% | +39.3% | +18.4% | −3.0% | +28.7% | — | — | — | — | — | — | — |
| SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | 7 of 20 | +7.4% | +13.9% | +16.4% | −13.1% | +24.7% | +13.5% | +25.2% | −10.4% | +15.2% | +18.3% | +1.7% | +8.2% | +38.9% | +17.0% | −1.2% | +24.7% | +45.1% | −38.4% | +4.6% | +9.5% | — | — | — |
| VTWO Vanguard Russell 2000 ETF | 4 of 15 | +12.9% | +11.6% | +17.1% | −20.5% | +14.8% | +20.2% | +25.8% | −11.1% | +14.7% | +21.4% | −4.5% | +5.0% | +38.8% | +16.2% | −4.4% | — | — | — | — | — | — | — | — |
| IWM iShares Russell 2000 ETF | 7 of 23 | +12.7% | +11.4% | +16.8% | −20.5% | +14.5% | +20.0% | +25.4% | −11.1% | +14.6% | +21.6% | −4.5% | +5.0% | +38.7% | +16.7% | −4.4% | +26.9% | +28.5% | −34.2% | −1.8% | +18.3% | +4.5% | +18.0% | +47.4% |
| VXUS Vanguard Total International Stock ETF | 3 of 14 | +32.3% | +5.1% | +15.9% | −16.1% | +9.0% | +10.7% | +21.7% | −14.4% | +27.5% | +4.8% | −4.2% | −4.7% | +14.6% | +18.6% | — | — | — | — | — | — | — | — | — |
Risk and diversification
How VXF 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 VXF's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents VXF's five deepest drawdowns since it began trading in 2002, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all five of VXF's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after VXF fell 36.4% from November 2021 to June 2022; it did not regain that peak until November 2024, two years later.
Green means VXF fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | VXF fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −57.5% | −55.2% | Oct 2007 | Mar 2009 | 17 months | Dec 2010 | 21 months |
| Covid crash | −41.7% | −28.8% | Feb 2020 | Mar 2020 | 1 month | Aug 2020 | 5 months |
| 2022 bear market | −36.4% | −21.3% | Nov 2021 | Jun 2022 | 7 months | Nov 2024 | 2.4 years |
| Dot-com bust | −31.6% | −30.4% | Apr 2002 | Oct 2002 | 6 months | Aug 2003 | 10 months |
| 2011 euro debt crisis | −27.6% | −18.6% | Apr 2011 | Oct 2011 | 6 months | Mar 2012 | 5 months |
How did VXF do in stock market crashes?
This section measures how far VXF, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
Note: VXF began trading on January 4, 2002, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.
- VXF fell further than the S&P 500 in eight of the nine crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when VXF fell 22.3% and the S&P 500 fell 12.8%.
- Among its popular alternatives, SPTM held up best, falling less than VXF in eight of the nine crashes they both traded through.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than VXF.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VXF This pageVanguard Extended Market ETF | — | −7.0% | −30.5% | −41.7% | −23.9% | −5.6% | −22.3% | −26.3% | −2.9% | −57.5% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| VONE Vanguard Russell 1000 ETF | 6 of 7 | −3.8% | −24.9% | −34.7% | −19.7% | −6.3% | −13.5% | −18.8% | — | — | — |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 8 of 9 | −3.8% | −24.1% | −34.7% | −20.2% | −6.3% | −13.5% | −18.8% | −2.0% | −54.7% | — |
| VTI Vanguard Morningstar Total Stock Market ETF | 8 of 9 | −4.0% | −25.2% | −35.0% | −20.0% | −6.3% | −14.1% | −19.5% | −1.9% | −55.5% | — |
| SCHB Schwab U.S. Broad Market ETF | 7 of 8 | −4.0% | −25.3% | −35.3% | −20.5% | −6.2% | −14.5% | −19.0% | −1.6% | — | — |
| IUSG iShares Core S&P U.S. Growth ETF | 7 of 9 | −3.0% | −30.8% | −32.4% | −20.7% | −6.5% | −14.1% | −18.9% | −2.1% | −51.8% | — |
| IUSV iShares Core S&P U.S. Value ETF | 7 of 9 | −4.5% | −17.9% | −37.3% | −18.6% | −6.2% | −14.5% | −20.3% | −1.9% | −59.8% | — |
| VO Vanguard Morningstar Mid-Cap ETF | 6 of 9 | −5.8% | −25.0% | −39.4% | −21.2% | −5.8% | −18.8% | −23.4% | −2.4% | −58.3% | — |
| IWR iShares Russell Mid-Cap ETF | 7 of 9 | −6.1% | −24.2% | −40.6% | −21.2% | −6.0% | −18.0% | −22.8% | −2.3% | −58.5% | — |
| SCHM Schwab U.S. Mid-Cap ETF | 4 of 7 | −7.0% | −24.5% | −42.5% | −22.4% | −6.0% | −19.0% | −24.8% | — | — | — |
| VB Vanguard Morningstar Small-Cap ETF | 2 of 9 | −7.3% | −24.9% | −42.0% | −23.8% | −5.9% | −20.5% | −26.7% | −2.5% | −59.7% | — |
| IJR iShares Core S&P Small-Cap ETF | 3 of 9 | −7.0% | −24.7% | −41.5% | −25.8% | −5.4% | −17.1% | −25.2% | −2.6% | −58.0% | — |
| AVUV Avantis U.S. Small Cap Value ETF | 1 of 3 | −9.3% | −20.0% | −46.9% | — | — | — | — | — | — | — |
| SCHA Schwab U.S. Small-Cap ETF | 2 of 8 | −7.3% | −26.6% | −42.3% | −25.3% | −5.6% | −21.5% | −27.0% | −2.7% | — | — |
| SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | 3 of 9 | −7.0% | −22.7% | −41.9% | −23.7% | −5.8% | −17.6% | −24.5% | −2.7% | −57.1% | — |
| VTWO Vanguard Russell 2000 ETF | 3 of 7 | −7.2% | −26.8% | −40.9% | −25.4% | −5.5% | −21.6% | −27.3% | — | — | — |
| IWM iShares Russell 2000 ETF | 3 of 9 | −7.1% | −26.8% | −40.8% | −25.7% | −5.5% | −21.5% | −27.2% | −2.9% | −58.4% | — |
| VXUS Vanguard Total International Stock ETF | 6 of 7 | −2.5% | −28.4% | −33.4% | −15.1% | −6.1% | −20.2% | −24.2% | — | — | — |
How closely does VXF 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. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares VXF with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Nine of the 16 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VXF's 0.81, led by IUSG, VONE and SPTM.
- SPTM took just 101% of the S&P 500's losses, against 123% for VXF, while still keeping 99% of its gains.
- Over the past 10 years, VXF captured 100% of the S&P 500's gains in rising months and 123% of its losses in falling months, with a beta of 1.19. Its share of the market's losses was larger than its share of the gains.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than VXF's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| VXF This pageVanguard Extended Market ETF | 100% | 123% | 0.81 | 1.19 |
| IUSG iShares Core S&P U.S. Growth ETF | 109% | 103% | 1.05 | 1.08 |
| VONE Vanguard Russell 1000 ETF | 100% | 102% | 0.98 | 1.02 |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 99% | 101% | 0.98 | 1.01 |
| VTI Vanguard Morningstar Total Stock Market ETF | 100% | 103% | 0.97 | 1.02 |
| SCHB Schwab U.S. Broad Market ETF | 99% | 104% | 0.95 | 1.03 |
| IUSV iShares Core S&P U.S. Value ETF | 89% | 101% | 0.88 | 0.93 |
| VO Vanguard Morningstar Mid-Cap ETF | 91% | 109% | 0.84 | 1.05 |
| IWR iShares Russell Mid-Cap ETF | 93% | 111% | 0.84 | 1.06 |
| VXUS Vanguard Total International Stock ETF | 76% | 91% | 0.84 | 0.82 |
| SCHM Schwab U.S. Mid-Cap ETF | 94% | 116% | 0.81 | 1.11 |
| SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | 93% | 116% | 0.81 | 1.10 |
| VB Vanguard Morningstar Small-Cap ETF | 96% | 120% | 0.80 | 1.13 |
| SCHA Schwab U.S. Small-Cap ETF | 97% | 124% | 0.78 | 1.18 |
| IJR iShares Core S&P Small-Cap ETF | 95% | 123% | 0.77 | 1.13 |
| VTWO Vanguard Russell 2000 ETF | 98% | 128% | 0.77 | 1.17 |
| IWM iShares Russell 2000 ETF | 98% | 129% | 0.76 | 1.17 |
What diversifies VXF?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with VXF's. Because such investments tend not to fall at the same time, pairing VXF with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in VXF into DBA would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+6.2% for VXF alone, +7.5% for the mix).
- Among large ETFs, DXJ, GCOW and XLE have moved largely independently of VXF over the past 5 years, with correlations of 0.45 or lower, and each still earned a positive 5-year return.
- CAH made money in three of the five calendar years in which VXF lost money.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which VXF lost money. The last two columns show a portfolio that is 80% VXF and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2015 | 2011 | 2008 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| VXF Vanguard Extended Market ETF (this page) | 1.00 | +27.0% | 0.33 | −26.5% | −9.3% | −3.3% | −3.6% | −38.6% | 20.2% | +6.2% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.44 | +225% | 1.34 | +6.0% | −19.8% | +7.7% | −16.1% | −20.8% | 17.4% | +10.4% |
| GCOW InternationalPacer Global Cash Cows Dividend ETF | 0.45 | +95.7% | 1.06 | +5.5% | −8.0% | — | — | — | 17.7% | +7.9% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.27 | +178% | 0.94 | +64.4% | −18.2% | −21.5% | +2.8% | −39.0% | 18.3% | +10.0% |
| GLD CommoditiesSPDR Gold Shares | 0.10 | +120% | 0.93 | −0.8% | −1.9% | −10.7% | +9.6% | +4.9% | 16.9% | +9.0% |
| AMLP EnergyAlerian MLP ETF | 0.46 | +114% | 0.90 | +25.5% | −12.6% | −25.7% | +10.2% | — | 18.2% | +8.9% |
| EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF | 0.49 | +69.0% | 0.83 | −15.3% | −6.2% | −27.4% | — | — | 17.6% | +7.4% |
| DBA AlternativesInvesco DB Agriculture Fund | 0.16 | +66.7% | 0.81 | +2.5% | −8.7% | −17.2% | −10.7% | −19.1% | 16.7% | +7.5% |
| IHE Broad MarketiShares U.S. Pharmaceuticals ETF | 0.44 | +83.2% | 0.81 | −4.9% | −7.8% | +8.8% | +20.9% | −14.8% | 17.7% | +7.7% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2015 | 2011 | 2008 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| VXF Vanguard Extended Market ETF (this page) | 1.00 | +27.0% | 0.33 | −26.5% | −9.3% | −3.3% | −3.6% | −38.6% | 20.2% | +6.2% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.33 | +471% | 1.54 | +54.1% | −24.5% | +12.6% | +8.1% | −39.6% | 18.6% | +12.6% |
| MCK Medical - DistributionMcKesson Corporation | 0.18 | +397% | 1.41 | +51.8% | −28.4% | −4.5% | +11.8% | −40.4% | 17.8% | +12.1% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.25 | +660% | 1.39 | +86.6% | −8.2% | +17.4% | — | — | 18.9% | +14.6% |
| PBR Oil & Gas IntegratedPetróleo Brasileiro S.A. - Petrobras | 0.11 | +721% | 1.32 | +55.4% | +27.7% | −41.1% | −32.1% | −55.6% | 18.5% | +14.5% |
| ATI Manufacturing - Metal FabricationATI Inc. | 0.47 | +913% | 1.29 | +87.5% | −9.8% | −66.7% | −12.2% | −70.0% | 22.3% | +17.2% |
Common questions
What was VXF's worst drawdown?
VXF's deepest decline since it began trading in 2002 was 57.5%, from October 2007 to March 2009. It took 21 months from the low to climb back to its old high.
What were VXF's best and worst years?
Over 23 full calendar years, VXF's best year was 2003, when it returned 45.1%. Its worst was 2008, with a return of -38.7%.
Is there a better investment than VXF?
Among VXF's popular alternatives, VOO, VTI and IUSG earned more than VXF with less volatility over the past 5 years. VOO returned 12.6% a year at 16.9% volatility, against 4.9% a year at 22.4%. Looking beyond its popular alternatives, DIA (US large-cap equity) and MGV (US large-cap value) earned more than VXF with less volatility over the past 5 years. DIA returned 10.0% a year at 14.8% volatility, against 4.9% a year at 22.4%.
Is VXF more volatile than the S&P 500?
Yes. VXF's volatility over the past 5 years was 22.4%, 1.3 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VXF's return lands within 22.4% 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 VXF's Sharpe ratio?
VXF's Sharpe ratio over the past 5 years was 0.33, against 0.78 for the S&P 500, so VXF earned less 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 VXF with the S&P 500?
Over the past 5 years, VXF's monthly returns had a correlation of 0.88 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 VXF instead: the lower it is, the more that option would diversify a VXF holding.
What are the best alternatives to VXF?
Of the 22 popular alternatives we compared, 11 outperformed VXF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: VOO, VONE and SPTM.
Did VXF outperform the S&P 500?
VXF finished ahead of the S&P 500 (SPY) in ten of 23 full calendar years. In 2025, it returned +11.4%, against +17.7% for the index.
How did VXF do in stock market crashes?
VXF fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in eight. The clearest case was the 2015 China and oil sell-off, when VXF fell 22.3% and the S&P 500 fell 12.8%.
What diversifies VXF?
These had a low correlation with VXF over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.44), GCOW (correlation 0.45) and XLE (correlation 0.27); among large stocks, CAH (correlation 0.33), MCK (correlation 0.18) and MPC (correlation 0.25). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than VXF's. Returns within 0.5 points or 3% of VXF's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to VXF
- VOOVanguard S&P 500 ETF
- VTIVanguard Morningstar Total Stock Market ETF
ITOTiShares Core S&P Total U.S. Stock Market ETF
SCHBSchwab U.S. Broad Market ETF- VOVanguard Morningstar Mid-Cap ETF
IWRiShares Russell Mid-Cap ETF
VBVanguard Morningstar Small-Cap ETF
IJRiShares Core S&P Small-Cap ETF
IJHiShares Core S&P Mid-Cap ETF
IWMiShares Russell 2000 ETF
VXUSVanguard Total International Stock ETF