VLU vs VTV: Grades, Fees and Holdings Compared

State Street SPDR S&P 1500 Value Tilt ETF

VLUANYSE Arca

Vanguard Morningstar Value ETF

VTVANYSE Arca

Overlap

52.2%by weight

Expense ratio

VTV −0.09pt a year

VLU0.12%VTV0.03%

Avg volume · 30D

VTV 353.8×the volume

VLU7.99KVTV2.83M

10Y return · a year

VLU +1.1pt

VLU+14.1%VTV+13.0%

VLU vs VTV Performance

Oct 29, 2021 – Oct 30, 2026

+79.9%VLU+79.8%VTV

Expense ratio: VLU 0.12%; VTV 0.03%, better
Fund size: VLU $793M; VTV $252B
1Y total return: VLU +22.1%; VTV +25.3%, better
Yield (12M): VLU 1.61%; VTV 1.83%, better
Holdings: VLU 1451; VTV 300
Avg volume (30D): VLU 7.99K sh; VTV 2.83M sh, better
NAV per share: VLU $248.51; VTV $228.00
52W range

ETF.net Grade

Pillar letters and Scores for VLU, VTV, with each pillar’s weight
Pillar	VLU	VTV
Cost30% weight	A76	A96Higher
Mission25% weight	A100Higher	A89
Risk15% weight	A77	A84Higher
Tradability15% weight	C45	B65Higher
Holdings10% weight	B62Higher	C51
Durability5% weight	B64	A88Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. VLU 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 VLU 6th 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 4AVOEVanguard Morningstar Mid-Cap Value ETFScore 77
Rank 6AVLUState Street SPDR S&P 1500 Value Tilt ETFScore 75
Rank 7AISCViShares Morningstar Small Cap Value ETFScore 70

Our read on each fund

ETF.net Research

VLUAState Street SPDR S&P 1500 Value Tilt ETF

VTVAVanguard Morningstar Value ETF

In short

VLU Most value funds throw out half the market. VLU keeps all roughly 1,500 names in the S&P Composite 1500 and simply leans the weights toward the cheaper ones. Running since 2012.

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

VLU The fund seeks to track, before fees and expenses, the total return performance of the S&P 1500 Low Valuation Tilt Index.

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

VLU Owns large, mid and small caps together and reweights toward cheap stocks rather than deleting rich ones, so the value lean comes without dropping half the US market.ssga.com spindices.com
0.12% a year, under the median fee among US value ETFs, for an all-cap portfolio of roughly 1,500 stocks.
A plain rules-based index mandate with no manager discretion, and one of the stronger implementations in its value peer group.
Live since 2012, so it carries a long record through both value droughts and value comebacks.

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

VLU Thinly traded next to the category giants, so bid-ask spreads and order size matter more than they would in a heavily traded fund.
A tilt, not a purge: pricey stocks stay in at lower weights, so the value exposure is milder than a concentrated deep-value fund.ssga.com spindices.com
Cheap for the category but not the floor. VTV and IUSV charge less, though they cover large-cap value only.

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 VLU profile⁠

Full VTV profile⁠

VLU vs VTV Holdings

How VLU and VTV differ

Overlap by weight

52.2%

Shared holdings make up 98.3% of VTV and 60.0% of VLU.

Level by level

Holdings287 in both52.2%
Sector11 Sectors85.9%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in VLU and VTV, widest gap first
Sector	More in VLUMore in VTV	VLU	VTV
Consumer Discretionary	VLU +5.7 points	9.4%	3.7%
Industrials	VTV +4.8 points	8.4%	13.2%
Communication	VLU +4.4 points	7.4%	3.0%
Health Care	VTV +3.7 points	13.1%	16.8%
Technology	VLU +3.6 points	17.9%	14.3%
Financials	VTV +2.9 points	19.5%	22.4%
Consumer Staples	VTV +1.4 points	7.3%	8.7%
Utilities	VTV +0.9 points	3.3%	4.2%
Real Estate	VLU +0.5 points	3.0%	2.5%
Materials	VTV +0.4 points	2.7%	3.1%
Energy	VTV +0.1 points	8.1%	8.2%

Country, concentration and asset class

Country by domicile

Country weights in VLU and VTV, widest gap first
Country	More in VLUMore in VTV	VLU	VTV
United States	VTV +0.8 points	99.2%	100.0%
Other countries (9)	VLU +0.8 points	0.8%	0.0%

Concentration

Weight in the 10 largest Holdings

VLU18.6%
VTV23.6%

Securities held

VLU1,449
VTV299

Asset class

VLU: Equity
VTV: Equity

Holdings

Only in VLU1,162
In both287
Only in VTV12

Only in VLU

1,162 securities, 39.8% of VLU by weight

Microsoft Corp3.13%
Amazon.com Inc2.57%
Apple Inc2.16%
Alphabet Inc Class C1.27%
Meta Platforms Inc Class A1.23%
NVIDIA Corp0.96%
Advanced Micro Devices0.87%
Intel Corp0.60%
Tesla Inc0.55%
Visa Inc Class A Shares0.52%
Alphabet Inc Class A0.45%
Broadcom Inc0.44%
Eli Lilly & Co0.37%
Costco Wholesale Corp0.35%
Oracle Corp0.32%
Netflix Inc0.24%
Mastercard Inc A0.22%
Arista Networks Inc0.18%
Welltower Inc0.16%
Viatris Inc0.15%
Intuitive Surgical Inc0.15%
Starbucks Corp0.14%
Applied Materials Inc0.14%
Skyworks Solutions Inc0.14%
Td Synnex Corp0.14%
Best Buy Co Inc0.14%
Ovintiv Inc0.13%
Palo Alto Networks Inc0.13%
Apa Corp0.12%
Palantir Technologies Inc A0.12%
Hf Sinclair Corp0.12%
Reinsurance Group of America0.12%
Tjx Companies Inc0.11%
Stanley Black & Decker Inc0.11%
Lam Research Corp0.10%
Performance Food Group Co0.10%
Bunge Global SA0.10%
Vertex Pharmaceuticals Inc0.10%
Block Inc0.10%
Renaissancere Holdings Ltd0.10%
Everest Group Ltd0.10%
Airbnb Inc Class A0.09%
Crowdstrike Holdings Inc A0.09%
Unum Group0.09%
Nxp Semiconductors NV0.09%
Booking Holdings Inc0.08%
Baxter International Inc0.08%
Marriott International Class A0.08%
Smurfit Westrock PLC0.08%
Tenet Healthcare Corp0.08%

Only in VTV

12 securities, 1.9% of VTV by weight

Berkshire Hathaway Inc0.55%
Warner Bros Discovery Inc0.28%
Strategy Inc0.21%
Cheniere Energy Inc0.21%
Ferguson Enterprises Inc0.16%
Sunbelt Rentals Holdings Inc0.11%
Zoom Communications Inc0.09%
Rocket Cos Inc0.08%
Markel Group Inc0.08%
Medline Inc0.08%
SLBBH1142<0.01%
Lennar Corp<0.01%

Weight gaps

The 100 widest of 287 Holdings in both funds.

Holding weights in VLU and VTV, widest gap first
Holding	More in VLUMore in VTV	VLU	VTV
Micron Technology IncMU	VTV +3.57 points	1.00%	4.57%
JPMorgan Chase & CoJPM	VTV +1.89 points	1.45%	3.34%
Johnson & JohnsonJNJ	VTV +1.70 points	0.72%	2.42%
Caterpillar IncCAT	VTV +1.34 points	0.08%	1.42%
AbbVie IncABBV	VTV +1.24 points	0.52%	1.76%
Exxonmobil Holdings CorpXOM	VTV +1.10 points	1.46%	2.56%
Cisco Systems IncCSCO	VTV +0.94 points	0.51%	1.45%
Coca Cola Co/TheKO	VTV +0.89 points	0.38%	1.27%
Procter & Gamble Co/ThePG	VTV +0.84 points	0.44%	1.28%
Merck & Co. Inc.MRK	VTV +0.78 points	0.58%	1.36%
Philip Morris InternationalPM	VTV +0.78 points	0.35%	1.13%
Thermo Fisher Scientific IncTMO	VTV +0.69 points	0.26%	0.95%
Dell Technologies CDELL	VLU +0.68 points	0.98%	0.30%
Rtx CorpRTX	VTV +0.68 points	0.27%	0.95%
Linde PLCLIN	VTV +0.62 points	0.21%	0.83%
Goldman Sachs Group IncGS	VTV +0.61 points	0.32%	0.93%
Amgen IncAMGN	VTV +0.60 points	0.27%	0.87%
Analog Devices IncADI	VTV +0.58 points	0.15%	0.73%
Home Depot IncHD	VTV +0.56 points	0.52%	1.08%
Eaton Corp PLCETN	VTV +0.52 points	0.11%	0.63%
Verizon Communications IncVZ	VLU +0.52 points	1.24%	0.72%
Bank of America CorpBAC	VTV +0.49 points	0.88%	1.37%
Morgan StanleyMS	VTV +0.48 points	0.36%	0.84%
Intl Business Machines CorpIBM	VTV +0.47 points	0.32%	0.79%
Deere & CoDE	VTV +0.45 points	0.20%	0.65%
Gilead Sciences IncGILD	VTV +0.46 points	0.24%	0.70%
General ElectricGE	VTV +0.46 points	0.16%	0.62%
Salesforce IncCRM	VTV +0.45 points	0.23%	0.68%
Schwab (Charles) CorpSCHW	VTV +0.43 points	0.18%	0.61%
Parker Hannifin CorpPH	VTV +0.43 points	0.03%	0.46%
Walmart IncWMT	VTV +0.43 points	1.30%	1.73%
Marathon Petroleum CorpMPC	VLU +0.41 points	0.83%	0.42%
Union Pacific CorpUNP	VTV +0.38 points	0.23%	0.61%
Cvs Health CorpCVS	VLU +0.37 points	0.79%	0.42%
Abbott LaboratoriesABT	VTV +0.36 points	0.29%	0.65%
Qualcomm IncQCOM	VTV +0.35 points	0.38%	0.73%
Uber Technologies IncUBER	VTV +0.34 points	0.16%	0.50%
BlackRock IncBLK	VTV +0.34 points	0.22%	0.56%
Danaher CorpDHR	VTV +0.34 points	0.19%	0.53%
Nextera Energy IncNEE	VTV +0.34 points	0.23%	0.57%
Newmont CorpNEM	VTV +0.33 points	0.13%	0.46%
Prologis IncPLD	VTV +0.33 points	0.14%	0.47%
Elevance Health IncELV	VLU +0.32 points	0.63%	0.31%
American Express CoAXP	VTV +0.31 points	0.27%	0.58%
Trane Technologies PLCTT	VTV +0.31 points	0.07%	0.38%
Pepsico IncPEP	VTV +0.31 points	0.35%	0.66%
S+p Global IncSPGI	VTV +0.31 points	0.12%	0.43%
Wells Fargo & CoWFC	VTV +0.30 points	0.62%	0.92%
United Parcel Service Class BUPS	VLU +0.28 points	0.55%	0.27%
Freeport Mcmoran IncFCX	VTV +0.28 points	0.10%	0.38%
Stryker CorpSYK	VTV +0.26 points	0.10%	0.36%
The Cigna GroupCI	VLU +0.27 points	0.54%	0.27%
Constellation EnergyCEG	VTV +0.26 points	0.06%	0.32%
Citigroup IncC	VTV +0.26 points	0.56%	0.82%
General Motors CoGM	VLU +0.25 points	0.51%	0.26%
Cme Group IncCME	VTV +0.25 points	0.11%	0.36%
Comcast Corp Class ACMCSA	VLU +0.25 points	0.54%	0.29%
Johnson Controls InternationJCI	VTV +0.24 points	0.10%	0.34%
Berkshire Hathaway Inc Class BBRK.B	VTV +0.24 points	2.69%	2.93%
Automatic Data ProcessingADP	VTV +0.24 points	0.15%	0.39%
Chevron CorpCVX	VTV +0.24 points	1.22%	1.46%
Intercontinental Exchange InICE	VTV +0.23 points	0.09%	0.32%
Sherwin Williams Co/TheSHW	VTV +0.23 points	0.07%	0.30%
Ross Stores IncROST	VTV +0.23 points	0.05%	0.28%
Walt Disney Co/TheDIS	VTV +0.23 points	0.46%	0.69%
Waste Management IncWM	VTV +0.23 points	0.08%	0.31%
Cencora IncCOR	VLU +0.22 points	0.43%	0.21%
Keysight Technologies InKEYS	VTV +0.22 points	0.01%	0.24%
T Mobile Us IncTMUS	VLU +0.22 points	0.49%	0.27%
Intuit IncINTU	VTV +0.22 points	0.07%	0.29%
Csx CorpCSX	VTV +0.22 points	0.11%	0.33%
Lowe’s Cos IncLOW	VTV +0.21 points	0.18%	0.39%
Williams Cos IncWMB	VTV +0.21 points	0.11%	0.32%
Emerson Electric CoEMR	VTV +0.21 points	0.12%	0.33%
Texas Instruments IncTXN	VTV +0.21 points	0.28%	0.49%
Adobe IncADBE	VTV +0.20 points	0.16%	0.36%
Cardinal Health IncCAH	VLU +0.20 points	0.40%	0.20%
3M CoMMM	VTV +0.20 points	0.12%	0.32%
Lockheed Martin CorpLMT	VTV +0.20 points	0.25%	0.45%
Target CorpTGT	VLU +0.20 points	0.47%	0.27%
Truist Financial CorpTFC	VLU +0.20 points	0.41%	0.21%
Cummins IncCMI	VTV +0.19 points	0.08%	0.27%
Devon Energy CorpDVN	VLU +0.19 points	0.38%	0.19%
Corteva IncCTVA	VTV +0.19 points	<0.01%	0.20%
Marsh & Mclennan CosMRSH	VTV +0.19 points	0.12%	0.31%
Regeneron PharmaceuticalsREGN	VTV +0.18 points	0.11%	0.29%
Digital Realty Trust IncDLR	VTV +0.19 points	0.06%	0.25%
Bristol Myers Squibb CoBMY	VTV +0.18 points	0.30%	0.48%
Honeywell International IncHON	VTV +0.18 points	0.07%	0.25%
Boston Scientific CorpBSX	VTV +0.18 points	0.06%	0.24%
Bank of New York Mellon CorpBNY	VTV +0.17 points	0.20%	0.37%
Illinois Tool WorksITW	VTV +0.17 points	0.09%	0.26%
Metlife IncMET	VLU +0.18 points	0.37%	0.19%
American Tower CorpAMT	VTV +0.18 points	0.11%	0.29%
General Dynamics CorpGD	VTV +0.17 points	0.15%	0.32%
Ametek IncAME	VTV +0.18 points	0.04%	0.22%
Centene CorpCNC	VLU +0.17 points	0.23%	0.06%
Colgate Palmolive CoCL	VTV +0.17 points	0.09%	0.26%
Humana IncHUM	VLU +0.17 points	0.34%	0.17%
Simon Property Group IncSPG	VTV +0.16 points	0.07%	0.23%

All 1,450 VLU 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.

VLU vs VTV Cost

Overpaying VLU vs VTV

$1,882

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

VLU 0.12%
$2,520
VTV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

VLU 0.12%
VTV 0.03%
Overpaying

Year by year

Year	VLU	VTV	Overpaying
10	$220	$55	$165
20	$859	$216	$643
30	$2,520	$638	$1,882

Expense ratio

0.12%VLU
0.03%VTV, cheaper

VTV0.03%VLU0.12%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

VTV cheapest of 40 funds

VLU 10th cheapest of 40 funds

VLU vs VTV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): VLU 1.61%; VTV 1.83%, better
Payout (12M): VLU $3.97; VTV $4.16
Last payment: VLU $1.05; VTV $1.02
Ex-dividend: VLU Sep 21, 2026; VTV Sep 28, 2026
Paid on: VLU Sep 23, 2026; VTV Sep 30, 2026
Frequency: VLU Quarterly; VTV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

VLUQuarterly · 39 paymentsAll VLU payments⁠

VTVQuarterly · 39 paymentsAll VTV payments⁠

VLU vs VTV Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: VLU 11.6%VTV 11.3%, better
Return per unit of riskSharpe ratio, 3 years: VLU 1.47, betterVTV 1.44
Worst fallMax drawdown, 5 years: VLU −19.6%VTV −17.0%, better
Market sensitivityBeta, 5 years: VLU 0.88VTV 0.69; Market = 1

VLU and VTV in the news

All news⁠

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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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VLU vs VTV

In short

Stated mandate

Why people hold it