Vanguard Mid-Cap Value ETF

Vanguard Mid-Cap Value ETF (VOE) is an index fund tracking the CRSP US Mid Cap Value Index, which holds mid-size US companies whose shares are priced low relative to measures such as earnings. Its expense ratio, the yearly fee, is 0.05%, against a 0.18% average for similar funds. As of June 30, 2026, it held about 170 stocks, led by Cummins, Valero Energy and Marathon Petroleum, with financials, industrials and utilities its largest sectors.

• Over the year to Oct 30, 2026, VOE returned +25.1%, 2nd of 9 among similar funds.
• Its 5-year annualized return was +10.1%.
• Its worst full calendar year was 2022 (-8.0%); its best was 2021 (+28.8%).
• The deepest fall in its price history was 19.7% (Apr 20, 2022 to Sep 30, 2022), recovered by Feb 22, 2024.

As of Jun 30, 2026, the fund held 170 securities; the ten largest made up 12.63% of assets.

By sector

• Over the three months to Jun 30, 2026, investors added a net $53.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.63%, -0.13%, +2.12%.

VOE is the exchange-traded share class of Vanguard Mid-Cap Value Index Fund, sharing one portfolio with the fund's other share classes. A manager does not pick the stocks. Instead, the fund aims to match the CRSP US Mid Cap Value Index, a broad index of value stocks of mid-size US companies. The index provider, not Vanguard, decides which companies qualify.

Vanguard replicates the index: it owns all, or nearly all, of the index's stocks in about the same proportions. Under normal conditions, at least 80% of net assets goes into index stocks. When the index adds or drops companies, the fund follows. Portfolio turnover, the share of holdings replaced in a year, was 23%, according to the prospectus filed April 28, 2026. As of June 30, 2026, the fund held about 170 stocks. The largest, Cummins, was 1.7% of assets, and the top ten made up 12.63%.

VOE shares trade on NYSE Arca at market prices, which can sit slightly above or below the value of the fund's holdings. Only large financial firms called authorized participants can create or redeem shares directly with the fund. The June 30, 2026, holdings report also showed 0.75% in cash and a sliver, about 0.01%, in stock index futures and total return swaps. The fund does not use leverage or an options strategy.

• VOE charges 0.05% a year, versus an average of 0.18% for the similar funds below (3rd of 9, cheapest first).
• Of that, 0.04% is the management fee; the rest covers other fund expenses.
• Using the prospectus's standard example, $10,000 invested would cost about $5 in the first year and $64 over 10 years (assuming a 5% annual return).

It tilts a stock portfolio toward mid-size, lower-priced US companies in sectors such as financials, industrials, utilities and energy, with technology at just 3.7% of the fund as of June 30, 2026.

VOE could add mid-size value companies and a modest income: a trailing 12-month yield of 1.86% as of October 27, 2026, paid quarterly. Under the SEC's standard example on $10,000, its 0.05% expense ratio comes to about $5 in the first year and $64 over 10 years. The tradeoff is sharp drops. During the 2020 COVID crash, the fund lost 31.38% in the first quarter. In the 2022 bear market, it fell 19.7% from April 20 to September 30 and took about 17 months, until February 2024, to regain its high. Its worst calendar year from 2018 to 2025 was 2018, down 12.41%. The figures here don't cover 2008, though the fund launched in 2006. Anyone forced to cash in shares for living costs during such stretches would lock in losses. Past results don't predict the future, and a plan should weigh the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.