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Dividend Vision

ETF Comparison

VOOV vs VOO: S&P 500 Value, or the Full Index?

A head-to-head of Vanguard S&P 500 Value ETF and Vanguard S&P 500 ETF covering style, cost, and payout.

Updated October 8, 2026

How these figures are calculated: methodology.

Best for

  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.
  • VOOVInvestors who want higher current income (1.69% vs 1.02% for VOO).

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

VOO has outpaced VOOV over the trailing twelve months, posting a 16.95% total return against 13.64%. The lead holds up over 10 years too: VOO has compounded at 15.54% a year, against 11.83% for VOOV. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
VOO14.19%16.95%23.00%13.60%15.54%14.95%14.8%1.101.60-18.7%
VOOV10.48%13.64%16.89%11.42%11.83%12.09%12.4%0.901.30-17.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 8, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricVOOVOOV
Full nameVanguard S&P 500 ETFVanguard S&P 500 Value ETF
IssuerVanguardVanguard
Underlying indexS&P 500 IndexS&P 500 Value Index
Last Close$711.28 as of October 8, 2026$224.23 as of October 8, 2026
Distribution rate1.02%1.69%
Trailing 12-month yield1.04%1.67%
Distribution Safety Score™ 10093
Safety-Adjusted Yield 1.02%1.57%
Expense ratio0.03%0.07%
AUM$1046B$6.62B
Distribution frequencyQuarterlyQuarterly
ObjectiveTrack the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.Tracks the S&P 500 Value Index.
Asset classEquityEquity
Inception date09/07/201009/07/2010
Beta1.00.76
Last dividend$1.8226$0.95
Ex-dividend date09/28/202609/23/2026

Bottom lineChoose VOO if you want simple, diversified core exposure in one low-cost fund. Choose VOOV if you want higher current income (1.69% vs 1.02% for VOO).

Full S&P 500 versus S&P 500 Value

VOO holds the full S&P 500. VOOV holds the S&P 500 value sleeve. Style is the split.

VOOVOOV
UniverseFull S&P 500S&P 500 Value
Expense ratio0.03%0.07%
Distribution rate1.02%1.69%
Fund size$1046B$6.62B
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Vanguard
ETFs116
Total AUM$4668B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO and VOOV.

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Quick verdict

VOO (Vanguard S&P 500 ETF) and VOOV (Vanguard S&P 500 Value ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

VOOV offers the higher yield at 1.69% vs 1.02% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.07%.

They have different reference exposures: VOO is linked to S&P 500 Index while VOOV is linked to S&P 500 Value Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1046B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose VOO

Vanguard S&P 500 ETF

  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% expense ratio vs 0.07% for VOOV.

Choose VOOV

Vanguard S&P 500 Value ETF

  • Want higher current income — VOOV yields 1.69% vs 1.02% for VOO.
  • Want broad equity exposure.
  • Prefer lower volatility — a beta of 0.8 vs 1.0 for VOO.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, VOO would generate roughly $25.50 cash per distribution, while VOOV would produce $42.25 cash per distribution, at current distribution rates. Both pay quarterly distributions.

VOO yield1.02%
VOOV yield1.69%
Cash diff on $10K$16.75

Cost & efficiency

Over 10 years on $10,000, VOO would cost approximately $30 in fees vs $70 for VOOV (simplified, not compounded). The $40.00 difference may be offset by yield or performance.

VOO ER0.03%
VOOV ER0.07%

Strategy & risk

VOO tracks S&P 500 Index with a large cap approach, while VOOV tracks S&P 500 Value Index. Beta is 1.0 for VOO and 0.76 for VOOV, making VOOV the less volatile of the two by this measure.

VOO beta1.0
VOOV beta0.76

Fund details

VOO is managed by Vanguard (launched 09/07/2010) with $1046B in assets. VOOV is managed by Vanguard (launched 09/07/2010) with $6.62B in assets.

VOO AUM$1046B
VOOV AUM$6.62B
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Frequently asked questions

What is the difference between VOO and VOOV?

VOOV (Vanguard S&P 500 Value ETF) tracks S&P 500 value stocks. VOO (Vanguard S&P 500 ETF) holds the full S&P 500, growth and value together. Cost is 0.03% versus 0.07%. Distributions are 1.02% and 1.69% as of October 2026. Style, not a one-date yield, is the split.

What is the current distribution rate for VOO and VOOV?

VOO currently distributes 1.02% and VOOV 1.69%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is VOO or VOOV better for dividend income?

It depends on your goals. VOOV 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.

Can I hold both VOO and VOOV?

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.

Is VOO or VOOV safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, VOOV scores 93, so VOO's payout currently looks the more resilient of the two. VOOV has also shown lower price volatility (beta 0.76 vs 1.00 for VOO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, VOO or VOOV?

VOO has an expense ratio of 0.03% while VOOV charges 0.07%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in VOO vs VOOV generate?

At current rates, $10,000 in VOO would generate roughly $25.50 cash per distribution ($102.00 annually). The same in VOOV would produce about $42.25 cash per distribution ($169.00 annually).

Which has performed better historically, VOO or VOOV?

VOO has outpaced VOOV over the trailing twelve months, posting a 16.95% total return against 13.64%. The lead holds up over 10 years too: VOO has compounded at 15.54% a year, against 11.83% for VOOV. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

VOO vs VOOV — at a glance

Generated October 3, 2026.

Overview

VOO and VOOV are both Vanguard ETFs tracking S&P 500–derived indexes, but they tilt in opposite directions. VOO holds the full S&P 500 Index—all 500 large-cap stocks weighted by market capitalization. VOOV holds only the value stocks within the S&P 500, filtering for those trading at lower valuations relative to fundamentals. This difference in construction drives distinct yield, volatility, and performance characteristics. That structural choice cascades into higher yield—VOOV distributes 1.69% versus VOO's 1.02%, a gap of roughly 68 basis points—because value stocks historically carry higher dividend yields. VOOV also has a lower beta of 0.76 compared to VOO's 1.0, meaning it tends to move less in sync with broad market swings, though this also reflects value's lagging performance during growth-driven rallies. On cost, VOOV's 0.07% fee is slightly higher than VOO's 0.03%, a difference of 0.04%, reflecting the complexity of value screening. Asset bases diverge sharply: VOO holds $1046B in assets, making it one of the world's largest ETFs, while VOOV holds $6.62B, a considerably smaller fund.

Who each is best for

  • VOO: Fits investors seeking broad U.S. large-cap exposure with minimal cost and maximum diversification across all styles—growth and value alike. Works well as a foundational core holding given the low fee and huge liquidity.
  • VOOV: Fits investors who favor deep value exposure and want a higher starting dividend yield, or who believe value stocks are underpriced relative to the broader index and are comfortable with style-specific volatility.

Key risks to know

  • Value drawdown risk: VOOV's tilt excludes the highest-performing segments of the S&P 500 (chiefly mega-cap growth stocks). Extended periods of growth outperformance can drag VOOV's relative returns significantly. This is a structural feature, not temporary.
  • Style concentration: By design, VOOV holds a subset of the S&P 500 filtered for valuation metrics. This concentration in one factor (value) amplifies sensitivity to mean reversion in value premiums and can result in sharp underperformance if growth leadership persists.
  • Lower beta and correlation: VOOV's 0.76 beta means it may diverge from broad market moves in ways that create tracking error or unforeseen portfolio volatility when held alongside other large-cap holdings. Its lower correlation with VOO is not diversification—it is style divergence. While still liquid, this disparity can matter for very large positions and suggests fewer institutional inflows to support sustained demand.

Bottom line

VOO offers breadth and simplicity at the lowest cost; VOOV offers higher yield and value tilting at a slightly higher fee and with exposure to value-specific drawdowns. If you want the entire S&P 500 and minimal friction, VOO stands out. If you seek value exposure and accept that style factors rotate, VOOV's higher yield may appeal—though past performance in either style does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.