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Vanguard is known for offering low-cost, passively managed ETFs that emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.
See our curated list of related YouTube videos on VB and VO.
Provide exposure to the fund's underlying index or strategy per issuer materials.
Provide exposure to the fund's underlying index or strategy per issuer materials.
Asset class
Equity
Equity
Inception date
01/26/2004
01/26/2004
Beta
1.1
0.95
Last dividend
$0.8920
$0.2550
Ex-dividend date
06/26/2026
06/26/2026
Bottom lineVB and VO are nearly interchangeable — both offer very similar stock exposure with very similar cost and risk. The clearest tie-breaker is cost: VO is cheaper at 0.04% vs 0.05%.
Most used
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
VB has outpaced VO over the trailing twelve months, posting a 23.75% total return against 15.78%. The picture flips over 10 years, though — VO has compounded at 11.48% a year, ahead of VB at 11.14%. VO has been the steadier holding, though — annualized volatility of 14.8% against 18.9% for VB. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jan 2004” measures every fund from January 30, 2004 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
VB (Vanguard Small Cap ETF) and VO (Vanguard Mid-Cap ETF) are both quarterly-pay dividend ETFs, but they take different approaches.
VO offers the higher yield at 1.26% vs 1.20% for VB. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
VO is cheaper with an expense ratio of 0.04% compared to 0.05%.
They track different benchmarks: VB is linked to CRSP US Small Cap Index while VO tracks CRSP US Mid Cap Index, which means their performance drivers differ.
VO is the larger fund by assets ($105B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, VB would generate roughly $10.00/month, while VO would produce $10.50/month, at current distribution rates. Both pay quarterly distributions.
VB yield1.20%
VO yield1.26%
Monthly diff on $10K$0.50
Cost & efficiency
Over 10 years on $10,000, VB would cost approximately $50 in fees vs $40 for VO (simplified, not compounded). The $10.00 difference may be offset by yield or performance.
VB ER0.05%
VO ER0.04%
Strategy & risk
VB tracks CRSP US Small Cap Index with an index approach, while VO tracks CRSP US Mid Cap Index with an index approach. Beta is 1.1 for VB and 0.95 for VO, indicating VO is less volatile relative to the market.
VB beta1.1
VO beta0.95
Fund details
VB is managed by Vanguard (launched 01/26/2004) with $79.4B in assets. VO is managed by Vanguard (launched 01/26/2004) with $105B in assets.
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Frequently asked questions
Is VB or VO better for dividend income?
It depends on your goals. VO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between VB and VO?
VB (Vanguard Small Cap ETF) tracks CRSP US Small Cap Index with an index approach, while VO (Vanguard Mid-Cap ETF) tracks CRSP US Mid Cap Index with an index approach. They are issued by Vanguard and Vanguard respectively.
Can I hold both VB and VO?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, VB or VO?
VB has an expense ratio of 0.05% while VO charges 0.04%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in VB vs VO generate?
At current rates, $10,000 in VB would generate roughly $10.00 per month ($120.00 annually). The same in VO would produce about $10.50 per month ($126.00 annually).
Which has performed better historically, VB or VO?
VB has outpaced VO over the trailing twelve months, posting a 23.75% total return against 15.78%. The picture flips over 10 years, though — VO has compounded at 11.48% a year, ahead of VB at 11.14%. VO has been the steadier holding, though — annualized volatility of 14.8% against 18.9% for VB. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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