VTV Vanguard Value ETF

Also available as an Admiral™ Shares mutual fund.

Management style

Index

Asset class

Domestic Stock - General

Category

Large Value

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 4

Less

More

End of Risk Scale.

Expense ratio

0.04%

as of 04/26/2024

as of 01/31/2025

Market price (MP)

$178.40

as of 02/20/2025

NAV price

$178.41

as of 02/20/2025

Overview

Key facts

IOV ticker symbol

VTV.IV

CUSIP

922908744

Management style

Index

Asset class

Domestic Stock - General

Category

Large Value

Inception date

01/26/2004

Fund Number

0966

Ratings

Risk / reward scale

Start of Risk Scale. On a scale of 1 to 5, 1 is less risk less reward, 5 is more risk more reward
The fund risk level is a 4

Less

More

End of Risk Scale.
Price

Minimum Investment

$1.00

as of 02/20/2025

Market price

$178.40

as of 02/20/2025

Market price change

decreased-$0.81 (-0.45%)

as of 02/20/2025

Expense Ratio

0.04%

as of 04/26/2024

NAV Price

$178.41

as of 02/20/2025

NAV Change

decreased-$0.75 (-0.42%)

as of 02/20/2025

Performance

YTD returns (MP)

5.38%

as of 02/20/2025

YTD returns (NAV)

5.39%

as of 02/20/2025

Product summary
  • Seeks to track the performance of the CRSP US Large Cap Value Index, which measures the investment return of large-capitalization value stocks.
  • Provides a convenient way to match the performance of many of the nation’s largest value stocks.
  • Follows a passively managed, full-replication approach.
Fund management

Vanguard Equity Index Group

Performance & fees

Total returns
Month-end/Quarterly Pre-Tax Toggle

as of 01/31/2025

Recent returns

Average annual

Month-end3-Month totalYTD1-yr3-yr5-yr10-yr

Since inception

01/26/2004

VTV (Market price)4.37%3.23%4.37%19.95%9.40%11.44%10.92%8.99%
VTV (NAV)
4.39%3.21%4.39%19.94%9.40%11.44%10.93%8.99%

Benchmark

4.40%3.21%4.40%19.97%9.39%11.45%10.94%9.01%
Market Price/Nav Toggle

as of 12/31/2024

Year1st Qtr2nd Qtr3rd Qtr4th QtrYear-end

Benchmark

2025
20249.69%-0.96%9.41%-2.46%15.94% 16.00%
2023-0.97%3.57%-2.37%9.18%9.32% 9.17%
20221.03%-10.27%-5.66%14.53%-2.04% -2.01%
202110.98%5.21%-0.95%9.30%26.41% 26.51%
2020-25.03%12.82%5.61%14.52%2.29% 2.26%
201910.77%3.75%1.18%8.22%25.83% 25.85%
2018-2.26%1.20%7.30%-10.92%-5.45% -5.40%
20173.22%1.85%4.10%7.03%17.14% 17.16%
20161.66%3.78%3.03%7.58%16.95% 16.93%
2015-0.50%0.44%-7.34%7.00%-0.92% -0.86%

as of 12/31/2024

Year

Capital return by NAV

Income return by NAV

Total return by NAV

Total return by Market Price

Benchmark

202413.30% 2.70%16.00% 15.94%16.00%
20236.44% 2.82%9.26% 9.32%9.17%
2022-4.56% 2.52%-2.05% -2.04%-2.01%
202123.62% 2.85%26.47% 26.41%26.51%
2020-0.77% 3.00%2.23% 2.29%2.26%
201922.55% 3.30%25.85% 25.83%25.85%
2018-7.82% 2.43%-5.39% -5.45%-5.40%
201714.29% 2.83%17.12% 17.14%17.16%
201613.87% 3.02%16.88% 16.95%16.93%
2015-3.42% 2.53%-0.89% -0.92%-0.86%
201410.62% 2.56%13.19% 13.18%13.29%
201329.85% 3.18%33.03% 33.11%33.15%
201212.02% 3.17%15.19% 15.15%15.23%
2011-1.52% 2.68%1.16% 1.12%1.24%
201011.60% 2.85%14.45% 14.48%14.54%

as of 01/31/2025

1-yr3-yr5-yr10-yr

Since inception

01/26/2004

VTV (Market price)19.95%30.94%71.89%181.98%509.93%
VTV (NAV)19.94% 30.95%71.90% 182.04% 510.04%

Benchmark

19.97%30.89%71.95%182.39%

Expense ratio

VTV

0.04%

Average expense ratio of similar funds3

0.88%

Historical volatility measures
as of 01/31/2025
BenchmarkR-Squared4Beta4
Spliced Value Index21.001.00
Dow Jones U.S. Total Stock Market Index0.810.82

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate so that investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited. The performance of an index is not an exact representation of any particular investment, as you cannot invest directly in an index.

Price

Current market price

Current price as of Thu Feb 20 21:00:00GMT+0 2025

Market price change

decreased-$0.81 (-0.45%)

Open

$0.00

High

$0.00

Low

$0.00

Bid/Ask spread

$0.00 (%)

Volume

0

Size

0 X 0

Tick

DOWN

Quotes delayed at least 15 minutes. Source: FactSet.

Closing price

Closing price as of 02/20/2025

Market price change

decreased-$0.81 (-0.45%)

NAV

$178.41

NAV change

decreased-$0.75 (-0.42%)

30-day Median Bid/Ask spread

0.01%

52-week High

$181.72

as of 11/29/2024

52-week Low

$154.28

as of 02/21/2024

52-week Difference

$27.44 (17.79%)

Premium/Discount

-$0.01

25-day Avg Volume

2,545,586.36

50-day Avg Volume

2,411,077.72

30 day SEC yield

2.10%

 

B SEC yield footnote code

 

as of 01/31/2025

Historical prices
Chart/Table Toggle
NameDateNAV
VTV 02/20/2025
$178.41

This chart can’t be displayed on mobile devices. For the best viewing experience, visit this page from your desktop or laptop.

Portfolio composition

Characteristics

as of 01/31/2025

FundamentalVTV
Benchmark
Number of stocks 340 339
Median market cap $146.9 B $146.9 B
Earnings growth rate 10.1% 10.1%
Short-term reserves
P/E ratio 19.9x 19.9x
P/B ratio 2.9x 2.9x
Turnover rate (Fiscal Year-end 12/31/2024) 10.3%
Return on equity 15.7% 15.7%
Foreign holdings 0.2%
Fund total net assets as of 01/31/2025 $192.7 B
Share class total net assets $135.3 B
Stylebox

Equity

Market Captialization Large Investment Style Value

Weighted exposures

as of 01/31/2025

1.90%Basic Materials
Sectors5VTV Benchmark Benchmark+/- Weight Basic Materials1.90%1.90%0.00%Consumer Discretionary9.20%9.20%0.00%Consumer Staples8.40%8.40%0.00%Energy6.40%6.40%0.00%Financials22.10%22.20%-0.10%Health Care15.80%15.80%0.00%Industrials15.70%15.60%0.10%Real Estate3.00%3.00%0.00%Technology8.70%8.70%0.00%Telecommunications3.30%3.30%0.00%Utilities5.50%5.50%0.00%

Weighted equity exposures exclude any temporary cash investments and equity index futures. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures.

Holding details

as of 01/31/2025

Ticker Holdings CUSIP SEDOL % of fundShares Market value
JPM JPMorgan Chase & Co. 46625H100 2190385 3.35 % 24,154,726 $6,456,558,260
BRK.B Berkshire Hathaway Inc. Class B 084670702 2073390 3.17 % 13,014,385 $6,099,451,818
AVGO Broadcom Inc. 11135F101 BDZ78H9 2.30 % 20,035,484 $4,433,251,545
UNH UnitedHealth Group Inc. 91324P102 2917766 2.22 % 7,895,898 $4,283,445,706
XOM Exxon Mobil Corp. 30231G102 2326618 2.09 % 37,703,834 $4,027,900,586
WMT Walmart Inc. 931142103 2936921 1.93 % 37,926,486 $3,722,863,866
HD Home Depot Inc. 437076102 2434209 1.82 % 8,523,441 $3,511,487,223
PG Procter & Gamble Co. 742718109 2704407 1.74 % 20,209,652 $3,354,600,135
JNJ Johnson & Johnson 478160104 2475833 1.63 % 20,658,152 $3,143,137,827
ABBV AbbVie Inc. 00287Y109 B92SR70 1.45 % 15,163,375 $2,788,544,663
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
46625H100
084670702
11135F101
91324P102
30231G102
931142103
437076102
742718109
478160104
00287Y109
Ticker Description Shares
JPM
BRK.B
AVGO
UNH
XOM
WMT
HD
PG
JNJ
ABBV
Ticker Holdings CUSIP SEDOL % of fundShares Market value
JPM JPMorgan Chase & Co. 46625H100 2190385 3.35 % 24,154,726 $6,456,558,260
BRK.B Berkshire Hathaway Inc. Class B 084670702 2073390 3.17 % 13,014,385 $6,099,451,818
AVGO Broadcom Inc. 11135F101 BDZ78H9 2.30 % 20,035,484 $4,433,251,545
UNH UnitedHealth Group Inc. 91324P102 2917766 2.22 % 7,895,898 $4,283,445,706
XOM Exxon Mobil Corp. 30231G102 2326618 2.09 % 37,703,834 $4,027,900,586
WMT Walmart Inc. 931142103 2936921 1.93 % 37,926,486 $3,722,863,866
HD Home Depot Inc. 437076102 2434209 1.82 % 8,523,441 $3,511,487,223
PG Procter & Gamble Co. 742718109 2704407 1.74 % 20,209,652 $3,354,600,135
JNJ Johnson & Johnson 478160104 2475833 1.63 % 20,658,152 $3,143,137,827
ABBV AbbVie Inc. 00287Y109 B92SR70 1.45 % 15,163,375 $2,788,544,663
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
46625H100
084670702
11135F101
91324P102
30231G102
931142103
437076102
742718109
478160104
00287Y109
Ticker Description Shares
JPM
BRK.B
AVGO
UNH
XOM
WMT
HD
PG
JNJ
ABBV
Ticker Holdings CUSIP SEDOL % of fundShares Market value
JPM JPMorgan Chase & Co. 46625H100 2190385 3.35 % 24,154,726 $6,456,558,260
BRK.B Berkshire Hathaway Inc. Class B 084670702 2073390 3.17 % 13,014,385 $6,099,451,818
AVGO Broadcom Inc. 11135F101 BDZ78H9 2.30 % 20,035,484 $4,433,251,545
UNH UnitedHealth Group Inc. 91324P102 2917766 2.22 % 7,895,898 $4,283,445,706
XOM Exxon Mobil Corp. 30231G102 2326618 2.09 % 37,703,834 $4,027,900,586
WMT Walmart Inc. 931142103 2936921 1.93 % 37,926,486 $3,722,863,866
HD Home Depot Inc. 437076102 2434209 1.82 % 8,523,441 $3,511,487,223
PG Procter & Gamble Co. 742718109 2704407 1.74 % 20,209,652 $3,354,600,135
JNJ Johnson & Johnson 478160104 2475833 1.63 % 20,658,152 $3,143,137,827
ABBV AbbVie Inc. 00287Y109 B92SR70 1.45 % 15,163,375 $2,788,544,663
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
46625H100
084670702
11135F101
91324P102
30231G102
931142103
437076102
742718109
478160104
00287Y109
Ticker Description Shares
JPM
BRK.B
AVGO
UNH
XOM
WMT
HD
PG
JNJ
ABBV
Ticker Holdings CUSIP SEDOL % of fundShares Market value
JPM JPMorgan Chase & Co. 46625H100 2190385 3.35 % 24,154,726 $6,456,558,260
BRK.B Berkshire Hathaway Inc. Class B 084670702 2073390 3.17 % 13,014,385 $6,099,451,818
AVGO Broadcom Inc. 11135F101 BDZ78H9 2.30 % 20,035,484 $4,433,251,545
UNH UnitedHealth Group Inc. 91324P102 2917766 2.22 % 7,895,898 $4,283,445,706
XOM Exxon Mobil Corp. 30231G102 2326618 2.09 % 37,703,834 $4,027,900,586
WMT Walmart Inc. 931142103 2936921 1.93 % 37,926,486 $3,722,863,866
HD Home Depot Inc. 437076102 2434209 1.82 % 8,523,441 $3,511,487,223
PG Procter & Gamble Co. 742718109 2704407 1.74 % 20,209,652 $3,354,600,135
JNJ Johnson & Johnson 478160104 2475833 1.63 % 20,658,152 $3,143,137,827
ABBV AbbVie Inc. 00287Y109 B92SR70 1.45 % 15,163,375 $2,788,544,663
Name

of issuer

Title of issuer Coupon/Yield Category of investment Cusip/Other id Effective maturity date Final maturity date Principal amount Amortized cost
46625H100
084670702
11135F101
91324P102
30231G102
931142103
437076102
742718109
478160104
00287Y109
Ticker Description Shares
JPM
BRK.B
AVGO
UNH
XOM
WMT
HD
PG
JNJ
ABBV

Distributions

Realized/Unrealized gains

as of 01/31/2025

Realized gain

-$8.58

% of NAV

decreased-4.85%

Unrealized gains of NAV

$52.14

% of NAV

increased29.50%

Fiscal year end

12/31/2025

Distribution schedule

Quarterly

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses

How your fund can affect your taxes

A fund's capital gains and losses can reveal the tax implications of holding a particular fund in a taxable account. This is true of both realized and unrealized capital gains and losses.

These tax implications don't apply to investors holding a fund in a tax-deferred account, such as an IRA or employer-sponsored retirement plan.

Learn about realized and unrealized gains and losses
Dividend income and capital gains
Type$/Share Payable date Record date Ex-dividend date
Dividend$0.98020012/26/202412/23/202412/23/2024
Dividend$0.91430009/30/202409/26/202409/26/2024
Dividend$1.01490007/01/202406/27/202406/27/2024
Dividend$1.00640003/26/202403/22/202403/21/2024
Dividend$1.03080012/27/202312/22/202312/21/2023
Dividend$0.89710009/26/202309/22/202309/21/2023

Fund management

Vanguard Value ETF seeks to track the investment performance of the CRSP US Large Cap Value Index, an unmanaged benchmark representing U.S. large-capitalization value stocks. Vanguard Value ETF is an exchange-traded share class of Vanguard Value Index Fund. The fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The experience and stability of Vanguard’s Equity Index Group have permitted continuous refinement of techniques for reducing tracking error. The group uses proprietary software to implement trading decisions that accommodate cash flow and maintain close correlation with index characteristics. Vanguard’s refined indexing process, combined with low management fees and efficient trading, has provided tight tracking net of expenses.

Vanguard Equity Index Group
Launched in 1975, The Vanguard Group, Malvern, Pennsylvania, is among the world’s largest equity and fixed income managers. As chief investment officer, Gregory Davis, CFA, oversees Vanguard’s Equity Index, Investment Strategy, Quantitative Equity, and Fixed Income Groups. Rodney Comegys, Principal and global head of Vanguard's Equity Index Group, is responsible for all equity index funds. The Equity Index Group manages indexed equity portfolios covering U.S. and international markets. It has developed sophisticated portfolio construction methodologies and efficient trading strategies that seek to deliver returns that are highly correlated with target portfolio benchmarks. The group has advised Vanguard Value ETF since 2004.
Gerard C. O'Reilly
Principal, Portfolio manager.
Advised the fund since 2004. Worked in investment management since 1992. B.S., Villanova University.
Walter Nejman
Portfolio manager.
Advised the fund since 2016. Worked in investment management since 2008. B.A., Arcadia University. M.B.A., Villanova University.
Aaron Choi
CFA, Portfolio manager.
Advised the fund since 2025. Worked in investment management since 2015. B.S., Pennsylvania State University.
Jena Stenger
Portfolio manager.
Advised the fund since 2025. Worked in investment management since 2013. B.S., Villanova University. M.B.A., University of Chicago Booth School of Business.

Performance & fees

1
Effective July 15, 2024, the market price returns are calculated using the official closing price as reported by the ETF’s primary exchange. Prior to July 15, 2024, the market price returns were calculated using the midpoint between the bid and ask prices as of the closing time of the New York Stock Exchange (typically 4 p.m., Eastern time). The returns shown do not represent the returns you would receive if you traded shares at other times.
2
S&P 500 Value Index (formerly known as the S&P 500/Barra Value Index) through May 16, 2003; MSCI US Prime Market Value Index through April 16, 2013; CRSP US Large Cap Value Index thereafter.
3

Most recent data available. © 2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) does not constitute investment advice offered by Morningstar; and (4) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

4

R-squared and beta are calculated from trailing 36-month fund returns relative to the associated benchmark.

Portfolio composition

5

Sector categories are based on the Industry Classification Benchmark system (“ICB”), except for the “Other” category (if applicable), which includes securities that have not been provided an ICB classification as of the effective reporting period.

© 2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Vanguard ETFs as a share class: Vanguard ETFs® (exchange-traded funds) are a class of shares listed for trading on an exchange. The shares are available only through a broker, including Vanguard Brokerage Services®.

Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.

Total returns: Short-term total return information is provided only as a service. Historical performance—particularly short-term performance—is no guarantee of future returns. Price, yield, and return on an actual investment will fluctuate, and you may have a gain or loss when you sell. Average annual returns include changes in price and reinvestments of dividends and capital gains. Since-inception returns for less than 1 year and year-to-date returns aren't annualized. Index performance is provided as a benchmark but isn't illustrative of any particular investment. You can't invest in an index.

Standardized returns: To see quarterly fee-adjusted returns, refer to the Price & Performance details.

Expense ratios: Expense ratios are displayed on Overview. For investments that are less than 1 fiscal year old, expense ratios are estimated.

Risk: All investing is subject to risk, including the possible loss of the money you invest. Funds that concentrate on a relatively narrow market sector face the risk of higher share-price volatility. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

Vanguard average ETF expense ratio: 0.05%. Industry average ETF expense ratio: 0.22%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2023.

An investment in the fund could lose money over short or even long periods. You should expect the fund’s share price and total return to fluctuate within a wide range, like the fluctuations of the overall stock market. Although Value ETF is listed for trading on the NYSE Arca, it is possible that an active trading market may not be maintained. Trading of Value ETF on the NYSE Arca may be halted if NYSE Arca officials deem such action appropriate, if Value ETF is delisted from the NYSE Arca, or if the activation of marketwide “circuit breakers” halts stock trading generally. The fund’s performance could be hurt by:

  • Stock market risk: The chance that stock prices overall will decline. Stock markets tend to move in cycles, with periods of rising stock prices and periods of falling stock prices. The fund’s target index may, at times, become focused in stocks of a particular sector, category, or group of companies. Because the fund seeks to track its target index, the fund may underperform the overall stock market.
  • Investment style risk: The chance that returns from large-capitalization value stocks will trail returns from the overall stock market. Large-cap stocks tend to go through cycles of doing better—or worse—than other segments of the stock market or the stock market in general. These periods have, in the past, lasted for as long as several years.
  • Index replicating risk: The chance that the fund may be prevented from holding one or more securities in the same proportion as in its target index.