At a glance
VONV charges 0.07% a year, below the 0.11% average of the 8 funds most like it (the 4th cheapest of 9). It has $23.88B in assets, the 5th largest of that group; it paid 1.53% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +29.0% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +23.6% a year. At its worst it fell 38.1% in the 2020 crash (S&P 500: 33.7%) and 18.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 15 months after the lows. Its ten largest positions make up 28.6% of the fund, out of 867 in all.
The short version
Vanguard Russell 1000 Value ETF (VONV) is an index fund that tracks the Russell 1000 Value Index and held 867 large US value stocks (shares priced cheaply relative to measures like earnings) as of August 31, 2026. Its expense ratio, or yearly fee, is 0.07%, versus 0.19% for iShares Russell 1000 Value ETF (IWD), which follows the same index. Its three largest holdings then, Amazon, Apple and Microsoft, made up about 17% of assets.
Price history
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VONV +29.0% over the year to Oct 30, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| VONV official prospectus, to Dec 31, 2024 | — | +14.31% | — | +8.60% | +8.38% | — |
| VONV price data to Oct 30, 2026 | +24.4% | +29.0% | +23.6% | +11.7% | +12.0% | +12.1% |
- Over the year to Oct 30, 2026, VONV returned +29.0%, 1st of 9 among similar funds.
- Its 5-year annualized return was +11.7% and its 10-year +12.0%.
- In the 2020 COVID crash it fell 38.1% and regained its old high 8.4 months after the low.
- Its worst full calendar year was 2018 (-8.4%); its best was 2013 (+32.7%).
- The deepest fall in its price history was 38.2% (Feb 12, 2020 to Mar 23, 2020), recovered by Dec 4, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +24.4% | — |
| 2025 | +15.8% | — |
| 2024 | +14.3% | +14.31% |
| 2023 | +11.4% | +11.42% |
| 2022 | -7.7% | -7.64% |
| 2021 | +25.3% | +25.06% |
| 2020 | +2.6% | +2.68% |
| 2019 | +26.5% | +26.50% |
| 2018 | -8.4% | -8.32% |
| 2017 | +13.6% | — |
| 2016 | +17.1% | — |
| 2015 | -3.8% | — |
| 2014 | +13.2% | — |
| 2013 | +32.7% | — |
| 2012 | +16.7% | — |
| 2011 | +0.4% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 38% over that stretch · deepest drop along the way 38.1%, back to its old high 8.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.5% over that stretch · deepest drop along the way 18.9%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.2400 | |
| 2025 | $1.6700 | +4.4% |
| 2024 | $1.6000 | +5.3% |
| 2023 | $1.5200 | +3.4% |
| 2022 | $1.4700 | +20.0% |
| 2021 | $1.2250 | -8.9% |
| 2020 | $1.3450 | -1.8% |
| 2019 | $1.3700 | +10.0% |
| 2018 | $1.2450 | +5.1% |
| 2017 | $1.1850 | +0.9% |
| 2016 | $1.1750 | +15.2% |
| 2015 | $1.0200 | +6.3% |
| 2014 | $0.9600 | +20.8% |
| 2013 | $0.7950 | +10.4% |
| 2012 | $0.7200 | +24.1% |
| 2011 | $0.5800 |
What's inside
As of Aug 31, 2026, the fund held 867 securities; the ten largest made up 28.62% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com Inc | 6.14% | |
| Apple Inc | 5.58% | |
| Microsoft Corp | 5.01% | |
| JPMorgan Chase & Co | 2.53% | |
| Berkshire Hathaway Inc | 2.49% | |
| ExxonMobil Holdings Corp | 1.78% | |
| Johnson & Johnson | 1.70% | |
| Cisco Systems Inc | 1.16% | |
| Walmart Inc | 1.12% | |
| AbbVie Inc | 1.11% | |
| Intel Corp | 1.09% | |
| Chevron Corp | 1.02% | |
| Bank of America Corp | 1.01% | |
| Merck & Co Inc | 0.97% | |
| UnitedHealth Group Inc | 0.93% |
By country
United States 99.78%By asset type
Stocks 99.78%By sector
Sectors of the companies held, for the 78.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $717.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.24%, +3.81%, +2.03%.
How it works
VONV is the exchange-traded share class of Vanguard Russell 1000 Value Index Fund, so its shares represent an interest in the same portfolio as the fund's other share classes. Instead of relying on a manager's stock picks, the fund tracks the Russell 1000 Value Index, which measures large US value stocks. It copies the index, holding all or nearly all of its stocks in about the same proportions.
As of August 31, 2026, the fund held 867 stocks, and the 10 largest made up 28.6% of assets. Amazon (6.1%), Apple (5.6%) and Microsoft (5.0%) led, followed by JPMorgan Chase, Berkshire Hathaway, ExxonMobil and Johnson & Johnson. Technology and financial companies formed the largest sector groups. Cash was 0.16% of assets, and 13 swaps (contracts tied to individual stocks' returns) had a negligible net value of about -0.01%.
When the index changes, the fund trades to match it. The prospectus reports portfolio turnover (the share of holdings replaced over a year) of 17%, a modest level that helps limit trading costs. ETF shares trade on Nasdaq at market prices, which can differ from the value of the underlying stocks. Only large firms called Authorized Participants create or redeem shares directly with the fund; their activity usually keeps the two close, though they are not required to.
What it really costs
- VONV charges 0.07% a year, versus an average of 0.11% for the similar funds below (4th of 9, cheapest first).
- Of that, 0.06% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $7 in the first year and $90 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| VONV | $7 | $23 | $40 | $90 |
In a retirement portfolio
It offers low-cost, index-based exposure to hundreds of large US value companies, which could anchor the stock portion of a portfolio, though it follows only value stocks rather than the whole market.
VONV could anchor the stock side of a portfolio, but it is almost entirely stocks and can fall sharply with the market. It launched in 2010, after the 2008 financial crisis. Its deepest drop, 38.2%, came in the 2020 COVID crash; it regained its peak about 8.4 months after the March 23, 2020 low. In the 2022 market decline it fell 18.9% and took about 14.5 months after its low to recover. Its worst calendar year was 2018, at -8.32%. Someone drawing income in a slump could be forced to sell at depressed prices.
Income is modest: the trailing 12-month yield was 1.51% as of October 29, 2026, paid quarterly. The 0.07% expense ratio (yearly fee) costs about $90 over 10 years on $10,000 in the SEC's standard example. Past results don't predict the future, and any plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want the Russell 1000 Value Index for 0.07% a year, versus 0.19% for iShares Russell 1000 Value ETF (IWD).
- Long-term holders wanting a large-company value tilt from a fund launched in 2010, holding $23.9 billion across all share classes as of August 31, 2026.
- Investors wanting 867 large US stocks in one fund (as of August 31, 2026), with modest 17% turnover and quarterly dividends.
Look elsewhere if
- Anyone who may need the money within a few years: it fell 38.2% in early 2020 and 18.9% in 2022.
- Retirees seeking sizable income: the trailing 12-month yield was 1.51% as of October 29, 2026, paid quarterly rather than monthly.
- Investors already heavy in Amazon, Apple and Microsoft through other funds; those three were about 17% of VONV as of August 31, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| VONV this fund | — | 0.07% | $23.88B | +29.0% | +23.6% |
| GVUS Marketbeta Russell 1000 Value Equity ETF | 96% | 0.12% | $416.9M | +26.6% | — |
| IWD iShares Russell 1000 Value ETF | 90% | 0.19% | $79.74B | +28.8% | +22.2% |
| ILCV iShares Morningstar Value ETF | 75% | 0.04% | $1.32B | +20.5% | +23.4% |
| IWX iShares Russell Top 200 Value ETF | 70% | 0.2% | $3.56B | +28.4% | +24.5% |
| VOOV Vanguard S&P 500 Value ETF | 70% | 0.07% | $7.00B | +15.0% | +19.7% |
| IUSV iShares Core S&P U.S. Value ETF | 69% | 0.04% | $26.46B | +16.8% | +17.8% |
| SPYV SPDR Portfolio S&P 500 Value ETF | 67% | 0.04% | $35.30B | +16.8% | +17.8% |
Questions investors ask
What is VONV's expense ratio?
VONV's expense ratio, the yearly fee, is 0.07%, including a 0.06% management fee, according to the prospectus filed December 19, 2025. In the SEC's standard example, costs on $10,000 earning 5% a year total about $7 over one year and $90 over 10 years. That is below the 0.11% average of the similar funds compared here. Still, iShares Morningstar Value ETF (ILCV), iShares Core S&P U.S. Value ETF (IUSV) and SPDR Portfolio S&P 500 Value ETF (SPYV) charge 0.04%, though they follow different value indexes.
What's the difference between VONV and IWD?
The main difference is cost. As their names suggest, both follow the Russell 1000 Value Index, and their holdings overlapped by about 90% in their latest SEC holdings reports. VONV charges 0.07% a year and iShares Russell 1000 Value ETF (IWD) charges 0.19%. Returns have been close: as of October 29, 2026, VONV returned 29.5% over one year and 24.3% a year over three years, versus 29.3% and 24.2% for IWD. IWD is larger, with $79.7 billion in net assets as of June 30, 2026.
Does VONV pay monthly dividends?
No. VONV pays dividends quarterly, so holders receive four payments a year rather than twelve. Over the 12 months to October 29, 2026, it paid $1.73 per share, a trailing yield of 1.51%. Trailing yield is the past year's dividends divided by the share price. Because the fund holds stocks, its payouts depend on the dividends its companies pay, and they can rise or fall from one quarter to the next.
What is VONV's 10-year average return?
VONV returned 8.38% a year on average over the 10 years through December 31, 2024, according to the prospectus, plus 8.60% a year over five years and 14.31% over one year. Based on market prices through October 29, 2026, it returned 12.1% a year over 10 years and 11.9% a year over five years. Calendar years shown in the prospectus ranged from a 26.50% gain in 2019 to an 8.32% loss in 2018. Past returns don't predict future results.
Why does VONV own Amazon, Apple and Microsoft?
Because its index does. VONV holds stocks in about the same proportions as the Russell 1000 Value Index, and the index's rules, not a Vanguard manager, decide which companies count as value stocks. As of August 31, 2026, Amazon (6.1%), Apple (5.6%) and Microsoft (5.0%) were the fund's three largest holdings, about 17% of assets together. Anyone who also owns them through other funds may hold more of these companies than they expect.