VOvsFEXETF Comparison
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Vanguard Morningstar Mid-Cap ETF (VO) belongs to the US Mid Cap segment. First Trust Large Cap Core AlphaDEX Fund ETF (FEX) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Finance, Technology and Industrials. VO is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.57% for FEX. VO is up 13.47% year-to-date (YTD) with +$4.98B in YTD flows. FEX performs better with 16.79% YTD performance, and -$3M in YTD flows. Run a side-by-side ETF comparison of VO and FEX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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VO vs FEX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VO FEX | +3.09%+3.12% | +0.90%+0.99% | +13.47%+16.79% | +11.57%+17.09% | +74.51%+83.49% | +41.43%+61.30% |
| Flows | VO FEX | -$54M- | +$573M+$147K | +$4.98B-$3M | +$6.88B-$21M | +$21.20B-$135M | +$28.79B-$160M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VO FEX | +10.61%+10.30% | +12.48%+12.92% | +14.54%+14.73% | +17.52%+16.87% |
| Max drawdown | VO FEX | -6.83%-6.74% | -8.12%-6.74% | -18.93%-19.51% | -27.54%-21.53% |
| Max drawdown duration | VO FEX | 72d71d | 49d71d | 211d232d | 972d757d |
Trading data
VO | FEX | |
Last sale 10/27/2026 at 1:30 PM | $81.45 | $137.84 |
| Previous close 10/27/2026 | $81.26 | $137.49 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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VO | FEX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
VO | FEX | |
|---|---|---|
| Last price | $81.45 | $137.84 |
| 1D performance | +0.23% | +0.26% |
| AuM | $107.19 B | $1.59 B |
| E/R | 0.03% | 0.57% |
Characteristics
VO | FEX | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | First Trust |
| Benchmark | CRSP U.S. Mid Cap Index | NASDAQ AlphaDEX Large Cap Core Index |
| N° of holdings | 277 | 372 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 26, 2004 | May 8, 2007 |
| ESG | No | No |
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Exposure
Countries
VO
USA
95.4%
Other
4.6%
FEX
USA
94.16%
Other
5.84%
Sectors
VO
Finance
20.58%
Technology
16.83%
Industrials
16.07%
Energy
8.72%
Healthcare
8.54%
Utilities
7.66%
Other
21.61%
FEX
Finance
20.76%
Technology
17.34%
Industrials
14.25%
Healthcare
9.9%
Energy
7.35%
Other
30.4%
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Diversification
VO
Total weight of top 15 holdings out of 15
13.12%
FEX
Total weight of top 15 holdings out of 15
8.51%
Top 15 holdings
Data as of August 31, 2026
VO
Marathon Petroleum Corp.
1.04%
Valero Energy Corp.
1.01%
Vertiv Holdings Co.
0.95%
Phillips 66
0.94%
Howmet Aerospace, Inc.
0.93%
Cloudflare, Inc.
0.93%
Seagate Technology Holdings Plc
0.88%
Quanta Services, Inc.
0.87%
SLB Ltd.
0.86%
Constellation Energy Corp.
0.85%
DoorDash, Inc.
0.82%
Robinhood Markets, Inc.
0.79%
Motorola Solutions, Inc.
0.77%
Datadog, Inc.
0.75%
Cummins, Inc.
0.74%
FEX
Cognizant Technology Solutions Corp.
0.73%
Accenture Plc
0.68%
ConocoPhillips
0.59%
Regeneron Pharmaceuticals, Inc.
0.59%
Super Micro Computer, Inc.
0.56%
Global Payments, Inc.
0.56%
AT&T, Inc.
0.56%
PayPal Holdings, Inc.
0.54%
Phillips 66
0.54%
Verizon Communications, Inc.
0.53%
Devon Energy Corp.
0.53%
General Mills, Inc.
0.53%
Pfizer Inc.
0.53%
Zimmer Biomet Holdings, Inc.
0.52%
Copart, Inc.
0.52%
Frequently asked questions about VO and FEX
How have the VO and FEX ETFs performed in 2026?
As of October 27, 2026, VO is up 13.47% year-to-date (YTD), while FEX has returned 16.79%. That puts FEX better performer ahead so far this year.
Which ETF is attracting more investor money: VO or FEX?
Year-to-date, the VO ETF saw +$4.98B in flows, compared to -$3M for FEX.
Which ETF is more volatile: VO or FEX?
Over the past year, VO had a volatility of 12.48%, while FEX experienced 12.92%.
Which ETF is bigger: VO or FEX?
As of October 27, 2026, VO holds $107.19 B in assets under management (AUM), while FEX manages $1.59 B.
What sectors do the VO and FEX ETFs invest in?
VO leans toward sectors like Finance, Technology and Industrials. Meanwhile, FEX focuses on Finance, Technology and Industrials.
What are the top holdings of the VO ETF and FEX ETF?
VO top holdings include Marathon Petroleum Corp., Valero Energy Corp. and Vertiv Holdings Co.. FEX holds in its top three: Cognizant Technology Solutions Corp., Accenture Plc and ConocoPhillips.
Which ETF is more diversified: VO or FEX?
VO holds 280 securities with 13.12% of its assets in the top 15. FEX has 372 securities and a top 15 weight of 8.51%.
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