What Is the VOE ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
The Vanguard Mid-Cap Value ETF (VOE) tracks the CRSP US Mid Cap Value Index, and its core strengths are a low expense ratio and value-style diversification. It is widely used to complement core holdings and offset large-cap concentration, and it pays a quarterly dividend.
SubscribeWhat Is the Vanguard Mid-Cap Value ETF?
This is a US mid-cap value ETF that tracks the CRSP US Mid Cap Value Index. It holds a broad basket of stocks classified as value within the mid-cap segment by market capitalization, weighted by market cap.
It suits long-term investors who want to reduce concentration in large-cap growth stocks and add diversification through mid-cap value stocks.
It is a passively managed (index-tracking) ETF run by Vanguard.
How Do You Invest in the Vanguard Mid-Cap Value ETF?
| Item | Details |
|---|---|
| Tracked index | CRSP US Mid Cap Value |
| Management style | Passive (index tracking) |
| Rebalancing frequency | Quarterly |
| Dividend frequency | Quarterly |
| Issuer | Vanguard |
| Expense ratio | 0.05% |
Following the CRSP methodology, the fund selects stocks classified as value within the mid-cap segment and holds them in proportion to their market capitalization. It tracks the index through an approach close to full replication, and style reclassifications are reflected periodically according to the index rules. Rather than betting on specific stocks, the structure follows the performance of the mid-cap value style as a whole.
- Low fee level typical of Vanguard passive management
- Diversified exposure concentrated in the mid-cap value style
Vanguard Mid-Cap Value ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $24.7B, and the expense ratio is 0.05% per year.
Compared with large-cap value ETFs, it is exposed to the mid-cap segment, so its weighting in cyclical sectors is relatively larger.
Vanguard Mid-Cap Value ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeMid-cap value stocks can be relatively neglected when large-cap growth leads the market, and they can show relative strength when investors favor value, so performance varies with style rotation. Short-term returns are affected by interest rates and the economic cycle.
Fund flows continue in response to demand for style diversification, and inflows can be especially noticeable when investors hedge against large-cap concentration or increase their value allocation. The fund tends to be used as a complement to core holdings.
Vanguard Mid-Cap Value ETF Pros and Cons
Its strengths are a low fee and mid-cap value style diversification, while its weakness is the swing in relative performance driven by style rotation.
💪 Key Strengths
⚠️ Points to Watch
Vanguard Mid-Cap Value ETF Alternatives and Related Products
VTV, IVE, and SPYV shown in the table share the same value style but focus on large caps, so their exposure range differs. IWD tracks the Russell 1000 Value and VBR covers small-cap value, so they sit at different points on the size spectrum. If you want a growth style within Vanguard's mid-cap lineup, VOT is a direct alternative, and to cover the mid-cap segment as a whole, VO is. Among mid-cap value products from other issuers, MDYV is also worth comparing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VTV | Vanguard Morningstar Value ETF | $228.02 | -0.4% | $196.6B | 0.03% | 1.83% | +22.9% |
 IWD | iShares Russell 1000 Value ETF | $258.65 | -0.8% | $83.9B | 0.18% | 1.37% | +26.9% |
 IVE | iShares S&P 500 Value ETF | $239.53 | -0.8% | $51.1B | 0.18% | 1.51% | +15.0% |
 SPYV | State Street SPDR Portfolio S&P 500 Value ETF | $64.13 | -0.8% | $39.2B | 0.04% | 1.65% | +14.9% |
 VBR | Vanguard Morningstar Small-Cap Value ETF | $243.44 | -0.6% | $37.3B | 0.05% | 1.82% | +18.4% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| CMI | Cummins Inc | 0.03% | $500.09 | -3.5% | $68.8B | 25.6 | 1.75% |
| SLB | SLB Ltd | 0.01% | $53.74 | -0.1% | $79.3B | 26.2 | 2.19% |
| VLO | Valero Energy Corp | 0.03% | $399.66 | +3.9% | $111.5B | 9.0 | 1.21% |
| PSX | Phillips 66 | 0.01% | $282.83 | +3.4% | $110.3B | 9.0 | 1.8% |
| MPC | Marathon Petroleum Corp | 0.03% | $444.73 | +2.8% | $124.9B | 15.3 | 0.92% |
| CRH | CRH Plc | 0.01% | $90.81 | +0.2% | $60.4B | 17.1 | 1.71% |
| GM | General Motors Company | 0.01% | $87.40 | +2.0% | $73.7B | 20.0 | 0.83% |
Vanguard Mid-Cap Value ETF Investor Checkpoints
These are the points to review before investing in VOE. Checking the characteristics of the mid-cap value style, the cost structure, and the risks from style rotation in advance helps you judge how well it fits your own portfolio.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense ratio | Impact of cumulative costs over a long holding period | Low level |
| 📊 Style exposure | Suitability of the mid-cap value weighting | Needs review |
| 🔄 Diversification effect | Complementarity with an existing large-cap portfolio | Complementary |
| 💱 Exchange rate | Impact on returns converted to won | No currency hedge |
Depending on style rotation, relative performance versus large-cap growth stocks may lag, and as a mid-cap value fund it is exposed to economic cycle swings. When the market's appetite for value is weak, the relative underperformance can last longer.
It is well suited as a mid-cap value diversification tool that offsets large-cap concentration. If you need a growth style, consider VOT, and if the goal is exposure to the mid-cap segment as a whole, consider VO alongside it.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 21, 2026.
Today's 5 AI picks, all free