VFVA vs VTV: Grades, Fees and Holdings Compared

Vanguard U.S. Value Factor ETF

VFVACCboe

Vanguard Morningstar Value ETF

VTVANYSE Arca

Overlap

27.7%by weight

Expense ratio

VTV −0.10pt a year

VFVA0.13%VTV0.03%

Avg volume · 30D

VTV 170.9×the volume

VFVA16.5KVTV2.83M

5Y return · a year

VTV +0.4pt

VFVA+12.1%VTV+12.5%

VFVA vs VTV Performance

Oct 29, 2021 – Oct 30, 2026

+76.8%VFVA+79.8%VTV

Expense ratio: VFVA 0.13%; VTV 0.03%, better
Fund size: VFVA $897M; VTV $252B
1Y total return: VFVA +30.8%, better; VTV +25.3%
Yield (12M): VFVA 1.77%; VTV 1.83%, better
Holdings: VFVA 692; VTV 300
Avg volume (30D): VFVA 16.5K sh; VTV 2.83M sh, better
NAV per share: VFVA $161.14; VTV $228.00
52W range

ETF.net Grade

Pillar letters and Scores for VFVA, VTV, with each pillar’s weight
Pillar	VFVA	VTV
Cost30% weight	A72	A96Higher
Mission25% weight	F22	A89Higher
Risk15% weight	C49	A84Higher
Tradability15% weight	D31	B65Higher
Holdings10% weight	A79Higher	C51
Durability5% weight	C50	A88Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. VFVA and VTV are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

VTV ranks 2nd and VFVA 28th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 84
Rank 2AVTVVanguard Morningstar Value ETFScore 83
Rank 3AIUSViShares Core S&P U.S. Value ETFScore 81
Rank 28CCOWZPacer US Cash Cows 100 ETFScore 49
Rank 28CVFVAVanguard U.S. Value Factor ETFScore 49
Rank 30CPWVInvesco Large Cap Value ETFScore 48

Our read on each fund

ETF.net Research

VFVACVanguard U.S. Value Factor ETF

VTVAVanguard Morningstar Value ETF

In short

VFVA Most value ETFs slice the cheap half off a large-cap index. VFVA scores the whole US market, large caps down to small, for stocks trading low against their fundamentals, then holds roughly 600 of them for 0.13% a year.

VTV Value investing for three cents on every hundred dollars a year. Since 2004, VTV has run a passive, fully invested portfolio of roughly 300 large US companies that screen cheap, at a fee near the industry floor.

Stated mandate

VFVA Seeks long-term capital appreciation by primarily investing in U.S. common stocks selected for relatively low valuations compared with fundamentals.

VTV The fund seeks to track a large-capitalization U.S. value-stock benchmark through passive indexing and substantial replication of that index.

Why people hold it

VFVA The value screen runs across the full US market (its reference is the Russell 3000), so cheap small and mid caps sit beside the usual large-cap bargains.
0.13% a year, below the 0.18% median for US value factor funds.
Roughly 600 holdings, so no single name carries the thesis. Distributions land quarterly.

VTV 0.03% a year, about a sixth of the 0.18% median for US value funds. Cost is the part of the outcome the fund actually controls.
Same recipe, very different sticker: PRXV tracks the same declared value index and charges 0.36%, twelve times VTV's fee.
Passively managed, full replication, fully invested. No manager hunches, no cash sitting idle, and the fund has tracked its benchmark closely.vanguard.com
One of the largest and most actively traded funds in the US value aisle, the kind of scale that keeps bid-ask spreads thin for ordinary orders.

Worth knowing

VFVA It hunts cheap valuations rather than mirroring a value index, and the small and mid caps in the mix can swing harder than a large-cap-only value fund.
Cheap for a factor fund, not the cheapest thing on the value shelf: VTV charges 0.03% and SCHV 0.04% for plain large-cap value.
Trades lightly next to the giant value ETFs, so the spread is worth a look and limit orders earn their keep.

VTV Large caps only, about 300 of them. Cheap mid- and small-cap stocks live in separate funds (VOE, VTWV), so this is one slice of value, not the whole market.
It is a value screen by design, so the priciest fast growers are largely filtered out. In growth-led stretches it can move very differently from a total-market fund.
Income arrives quarterly, in four instalments rather than a monthly drip.

Full VFVA profile⁠

Full VTV profile⁠

VFVA vs VTV Holdings

How VFVA and VTV differ

Overlap by weight

27.7%

Shared holdings make up 51.2% of VTV and 38.9% of VFVA.

Level by level

Holdings133 in both27.7%
Sector11 Sectors83.0%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in VFVA and VTV, widest gap first
Sector	More in VFVAMore in VTV	VFVA	VTV
Consumer Discretionary	VFVA +10.0 points	13.7%	3.7%
Industrials	VTV +6.4 points	6.8%	13.2%
Utilities	VTV +4.2 points	0.0%	4.2%
Financials	VFVA +4.0 points	26.4%	22.4%
Communication	VFVA +2.7 points	5.7%	3.0%
Real Estate	VTV +2.1 points	0.4%	2.5%
Consumer Staples	VTV +1.8 points	6.9%	8.7%
Technology	VTV +1.5 points	12.8%	14.3%
Health Care	VTV +0.8 points	16.0%	16.8%
Materials	VTV +0.4 points	2.7%	3.1%
Energy	VFVA +0.3 points	8.5%	8.2%

Country, concentration and asset class

Country by domicile

Country weights in VFVA and VTV, widest gap first
Country	More in VFVAMore in VTV	VFVA	VTV
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

VFVA7.5%
VTV23.6%

Securities held

VFVA690
VTV299

Asset class

VFVA: Equity
VTV: Equity

Holdings

Only in VFVA557
In both133
Only in VTV166

Only in VFVA

557 securities, 61.0% of VFVA by weight

Booking Holdings Inc0.45%
Jackson Financial Inc0.41%
Gap Inc/The0.31%
BorgWarner Inc0.31%
Viatris Inc0.30%
Arrow Electronics Inc0.29%
VF Corp0.29%
Celanese Corp0.28%
Docusign Inc0.28%
Lear Corp0.28%
Ovintiv Inc0.28%
American Airlines Group Inc0.28%
Meta Platforms Inc0.28%
AutoZone Inc0.27%
Avnet Inc0.27%
PagerDuty Inc0.27%
Alaska Air Group Inc0.27%
Columbia Banking System Inc0.27%
Aptiv PLC0.26%
CarMax Inc0.26%
AGCO Corp0.25%
Mohawk Industries Inc0.25%
Avantor Inc0.24%
Best Buy Co Inc0.24%
Oracle Corp0.24%
ManpowerGroup Inc0.24%
LKQ Corp0.23%
Lululemon Athletica Inc0.23%
Macy's Inc0.23%
First Financial Bancorp0.23%
FNB Corp/PA0.22%
Permian Resources Corp0.22%
Conagra Brands Inc0.22%
Ally Financial Inc0.22%
Genuine Parts Co0.22%
Kyndryl Holdings Inc0.22%
Builders FirstSource Inc0.22%
Sprout Social Inc0.22%
ADT Inc0.21%
Invesco Ltd0.21%
AutoNation Inc0.21%
ICF International Inc0.21%
DXC Technology Co0.21%
Mattel Inc0.21%
Pinterest Inc0.21%
Graphic Packaging Holding Co0.21%
Ingredion Inc0.21%
Koppers Holdings Inc0.21%
Perrigo Co PLC0.21%
Herbalife Ltd0.21%

Only in VTV

166 securities, 49.1% of VTV by weight

Micron Technology Inc4.57%
Johnson & Johnson2.42%
Walmart Inc1.73%
Cisco Systems Inc1.45%
Caterpillar Inc1.42%
Procter & Gamble Co/The1.28%
Coca-Cola Co/The1.27%
Philip Morris International Inc1.13%
Home Depot Inc/The1.08%
RTX Corp0.95%
Thermo Fisher Scientific Inc0.95%
Goldman Sachs Group Inc/The0.93%
Linde PLC0.83%
Analog Devices Inc0.73%
Deere & Co0.65%
Eaton Corp PLC0.63%
General Electric Co0.62%
Union Pacific Corp0.61%
American Express Co0.58%
NextEra Energy Inc0.57%
Berkshire Hathaway Inc0.55%
Texas Instruments Inc0.49%
Prologis Inc0.47%
Parker-Hannifin Corp0.46%
Lockheed Martin Corp0.45%
S&P Global Inc0.43%
Automatic Data Processing Inc0.39%
Freeport-McMoRan Inc0.38%
Trane Technologies PLC0.38%
CME Group Inc0.36%
Southern Co/The0.36%
Johnson Controls International plc0.34%
Duke Energy Corp0.34%
Emerson Electric Co0.33%
CSX Corp0.33%
Constellation Energy Corp0.32%
3M Co0.32%
Williams Cos Inc/The0.32%
McDonald's Corp0.31%
Waste Management Inc0.31%
Dell Technologies Inc0.30%
Sherwin-Williams Co/The0.30%
American Tower Corp0.29%
Ross Stores Inc0.28%
Warner Bros Discovery Inc0.28%
Cummins Inc0.27%
Illinois Tool Works Inc0.26%
Norfolk Southern Corp0.26%
Colgate-Palmolive Co0.26%
Digital Realty Trust Inc0.25%

Weight gaps

The 100 widest of 133 Holdings in both funds.

Holding weights in VFVA and VTV, widest gap first
Holding	More in VFVAMore in VTV	VFVA	VTV
JPMorgan Chase & CoJPM	VTV +3.20 points	0.14%	3.34%
Berkshire Hathaway IncBRK.B	VTV +2.66 points	0.27%	2.93%
ExxonMobil Holdings CorpXOM	VTV +2.25 points	0.31%	2.56%
AbbVie IncABBV	VTV +1.41 points	0.35%	1.76%
Bank of America CorpBAC	VTV +1.13 points	0.24%	1.37%
UnitedHealth Group IncUNH	VTV +0.93 points	0.32%	1.25%
Chevron CorpCVX	VTV +0.89 points	0.57%	1.46%
Merck & Co IncMRK	VTV +0.85 points	0.51%	1.36%
Morgan StanleyMS	VTV +0.79 points	0.05%	0.84%
Amgen IncAMGN	VTV +0.62 points	0.25%	0.87%
QUALCOMM IncQCOM	VTV +0.60 points	0.13%	0.73%
International Business Machines CorpIBM	VTV +0.55 points	0.24%	0.79%
Blackrock IncBLK	VTV +0.54 points	0.02%	0.56%
EOG Resources IncEOG	VFVA +0.54 points	0.81%	0.27%
Charles Schwab Corp/TheSCHW	VTV +0.50 points	0.11%	0.61%
Wells Fargo & CoWFC	VTV +0.48 points	0.44%	0.92%
Cigna Group/TheCI	VFVA +0.48 points	0.75%	0.27%
General Motors CoGM	VFVA +0.44 points	0.70%	0.26%
Citigroup IncC	VTV +0.44 points	0.38%	0.82%
Crh PLCCRH	VFVA +0.39 points	0.60%	0.21%
Boston Scientific CorpBSX	VFVA +0.39 points	0.63%	0.24%
Truist Financial CorpTFC	VFVA +0.39 points	0.60%	0.21%
Danaher CorpDHR	VTV +0.37 points	0.16%	0.53%
Bristol-Myers Squibb CoBMY	VFVA +0.38 points	0.86%	0.48%
Gilead Sciences IncGILD	VTV +0.37 points	0.33%	0.70%
PepsiCo IncPEP	VTV +0.36 points	0.30%	0.66%
HCA Healthcare IncHCA	VFVA +0.35 points	0.58%	0.23%
Stryker CorpSYK	VTV +0.33 points	0.03%	0.36%
Regeneron Pharmaceuticals IncREGN	VFVA +0.32 points	0.61%	0.29%
US BancorpUSB	VFVA +0.32 points	0.66%	0.34%
Elevance Health IncELV	VFVA +0.32 points	0.63%	0.31%
FedEx CorpFDX	VFVA +0.31 points	0.54%	0.23%
Marathon Petroleum CorpMPC	VFVA +0.29 points	0.71%	0.42%
Comcast CorpCMCSA	VFVA +0.26 points	0.55%	0.29%
NIKE IncNKE	VFVA +0.26 points	0.42%	0.16%
Marsh & McLennan Cos IncMRSH	VTV +0.24 points	0.07%	0.31%
Northrop Grumman CorpNOC	VTV +0.23 points	0.03%	0.26%
Uber Technologies IncUBER	VTV +0.23 points	0.27%	0.50%
Southwest Airlines CoLUV	VFVA +0.23 points	0.27%	0.04%
General Dynamics CorpGD	VTV +0.22 points	0.10%	0.32%
Intercontinental Exchange IncICE	VTV +0.22 points	0.10%	0.32%
Progressive Corp/ThePGR	VTV +0.21 points	0.25%	0.46%
SLB LtdSLB	VTV +0.20 points	0.07%	0.27%
Pfizer IncPFE	VFVA +0.20 points	0.82%	0.62%
Travelers Cos Inc/TheTRV	VFVA +0.20 points	0.48%	0.28%
Abbott LaboratoriesABT	VTV +0.19 points	0.46%	0.65%
T-Mobile US IncTMUS	VFVA +0.19 points	0.46%	0.27%
CVS Health CorpCVS	VFVA +0.19 points	0.61%	0.42%
Becton Dickinson & CoBDX	VFVA +0.18 points	0.37%	0.19%
Intuit IncINTU	VFVA +0.18 points	0.47%	0.29%
Kinder Morgan IncKMI	VFVA +0.17 points	0.39%	0.22%
Allstate Corp/TheALL	VTV +0.17 points	0.04%	0.21%
Accenture PLCACN	VFVA +0.17 points	0.60%	0.43%
HP IncHPQ	VFVA +0.16 points	0.27%	0.11%
United Airlines Holdings IncUAL	VFVA +0.16 points	0.30%	0.14%
American International Group IncAIG	VFVA +0.16 points	0.31%	0.15%
United Parcel Service IncUPS	VTV +0.16 points	0.11%	0.27%
MetLife IncMET	VFVA +0.16 points	0.35%	0.19%
Cognizant Technology Solutions CorpCTSH	VFVA +0.15 points	0.25%	0.10%
Hewlett Packard Enterprise CoHPE	VTV +0.16 points	0.15%	0.31%
Aflac IncAFL	VFVA +0.15 points	0.34%	0.19%
International Paper CoIP	VFVA +0.15 points	0.18%	0.03%
Humana IncHUM	VTV +0.14 points	0.03%	0.17%
State Street CorpSTT	VTV +0.14 points	0.03%	0.17%
Fox CorpFOX	VFVA +0.14 points	0.17%	0.03%
Target CorpTGT	VTV +0.14 points	0.13%	0.27%
Centene CorpCNC	VFVA +0.14 points	0.20%	0.06%
Medtronic PLCMDT	VFVA +0.14 points	0.56%	0.42%
KKR & Co IncKKR	VFVA +0.14 points	0.37%	0.23%
LyondellBasell Industries NVLYB	VFVA +0.13 points	0.16%	0.03%
AT&T IncT	VFVA +0.12 points	0.76%	0.64%
Altria Group IncMO	VFVA +0.12 points	0.55%	0.43%
Biogen IncBIIB	VFVA +0.12 points	0.25%	0.13%
Honeywell International IncHON	VTV +0.11 points	0.14%	0.25%
Walt Disney Co/TheDIS	VTV +0.12 points	0.57%	0.69%
Diamondback Energy IncFANG	VFVA +0.11 points	0.26%	0.15%
Royal Caribbean Cruises LtdRCL	VFVA +0.11 points	0.24%	0.13%
Mondelez International IncMDLZ	VTV +0.10 points	0.18%	0.28%
Capital One Financial CorpCOF	VFVA +0.10 points	0.55%	0.45%
EQT CorpEQT	VFVA +0.10 points	0.16%	0.06%
Carnival Corp LtdCCL	VFVA +0.11 points	0.22%	0.11%
Kroger Co/TheKR	VFVA +0.10 points	0.21%	0.11%
McKesson CorpMCK	VTV +0.10 points	0.28%	0.38%
Dow IncDOW	VFVA +0.10 points	0.14%	0.04%
Newmont CorpNEM	VFVA +0.10 points	0.56%	0.46%
Tyson Foods IncTSN	VFVA +0.09 points	0.12%	0.03%
Valero Energy CorpVLO	VTV +0.09 points	0.33%	0.42%
Roper Technologies IncROP	VTV +0.09 points	0.04%	0.13%
Prudential Financial IncPRU	VFVA +0.09 points	0.24%	0.15%
PNC Financial Services Group Inc/ThePNC	VFVA +0.08 points	0.42%	0.34%
Hartford Insurance Group Inc/TheHIG	VTV +0.08 points	0.05%	0.13%
Cencora IncCOR	VTV +0.08 points	0.13%	0.21%
GE HealthCare Technologies IncGEHC	VTV +0.07 points	0.04%	0.11%
Apollo Global Management IncAPO	VFVA +0.08 points	0.26%	0.18%
Keurig Dr Pepper IncKDP	VTV +0.07 points	0.08%	0.15%
Fiserv IncFISV	VFVA +0.07 points	0.15%	0.08%
Zoetis IncZTS	VTV +0.07 points	0.03%	0.10%
Zoom Communications IncZM	VTV +0.07 points	0.02%	0.09%
Delta Air Lines IncDAL	VFVA +0.06 points	0.25%	0.19%
L3Harris Technologies IncLHX	VFVA +0.06 points	0.23%	0.17%

All 637 VFVA holdings⁠All 331 VTV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

VFVA vs VTV Cost

Overpaying VFVA vs VTV

$2,088

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

VFVA 0.13%
$2,726
VTV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

VFVA 0.13%
VTV 0.03%
Overpaying

Year by year

Year	VFVA	VTV	Overpaying
10	$238	$55	$183
20	$930	$216	$714
30	$2,726	$638	$2,088

Expense ratio

0.13%VFVA
0.03%VTV, cheaper

VTV0.03%VFVA0.13%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

VTV cheapest of 40 funds

VFVA 12th cheapest of 40 funds

VFVA vs VTV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VFVA 1.77%; VTV 1.83%, better
Payout (12M): VFVA $2.85; VTV $4.16
Last payment: VFVA $0.68; VTV $1.02
Ex-dividend: VFVA Sep 23, 2026; VTV Sep 28, 2026
Paid on: VFVA Sep 25, 2026; VTV Sep 30, 2026
Frequency: VFVA Quarterly; VTV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

VFVAQuarterly · 34 paymentsAll VFVA payments⁠

VTVQuarterly · 39 paymentsAll VTV payments⁠

VFVA vs VTV Risk

Fall from peak · 5 years

VFVA
VTV

Risk facts

VolatilityStd dev, 3 years: VFVA 16.5%VTV 11.3%, better
Return per unit of riskSharpe ratio, 3 years: VFVA 1.02VTV 1.44, better
Worst fallMax drawdown, 5 years: VFVA −24.1%VTV −17.0%, better
Market sensitivityBeta, 5 years: VFVA 0.96VTV 0.69; Market = 1

VFVA and VTV in the news

All news⁠

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The best growth ETF is the cheap one on the index you want
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Head-to-Head
VTV leads VYM over 10 years. The recent gap is one year
Oct 23, 2026VTV
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U.S. value funds beat the S&P 500 over the past year, but the funds did not move together
Updated Oct 21, 2026VTV
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The best value ETF depends on whose list you bought
Updated Oct 2, 2026VTV
Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026VTV

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