VBR Fund Description

The Vanguard Small-Cap Value ETF aims to track the CRSP US Small Cap Value Index. The index selects from a list of stocks in the 85-99% range of market cap, based on five value factors.

VBR ETF.com Insight

VBR changed indexes in April 2013, but it’s still a large, liquid choice with excellent coverage. VBR switched from an MSCI value index to a CRSP index, which aligns well with ourVBR's fees are low and its liquidity and asset base are high benchmark by firm size, meaning it leans toward larger midcap firms. Sector biases are present but smaller than most and recent performance has been strong. VBR's fees are low and its liquidity and asset base are high, which combined with great coverage makes it a clear Analyst Pick for the segment. (Insight updated 09/03/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

VBR
0.54% 1.27% 8.93% 11.61% 22.20% 16.66% 8.48%

VBR (NAV)
0.67% 1.43% 9.09% 11.77% 22.21% 16.67% 8.49%

CRSP US Small Cap Value Index
0.66% 1.43% 9.15% 11.86% 22.28% 16.72% 8.49%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

VBR Top 10 Countries

VBR Top 10 Sectors

VBR Top 10 Holdings View All

VBR Summary Data

Issuer Vanguard

A company that produces and manages ETFs.

Inception Date 01/26/04

The first date of a fund's operations, as documented by the issuer.

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

Expense Ratio 0.09%

The net total annual fee a fund holder pays to the issuer.

Assets Under Management $4.92 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

Average Daily $ Volume $20.01 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.05%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

VBR Portfolio Data

Weighted Average Market Cap $3.34 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

Price / Earnings Ratio 28.02

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

Price / Book Ratio 1.87

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Distribution Yield 1.72%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

Next Ex-Dividend Date --

The date on which a security's price excludes an upcoming dividend.

Number of Holdings 807

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

VBR Index Data

Index Tracked CRSP US Small Cap Value Index

This is the benchmark an ETF is desigend to track or replicate.

Index Weighting Methodology Multi-Factor

A set of rules that the underlying index provider follows to weight its constituent securities.

Index Selection Methodology Multi-Factor

A set of rules that the underlying index provider follows to select its constituent securities.

Segment Benchmark MSCI USA Small Cap Value

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to VBR

Top Competing ETFs VIOV, IJS, IWN, JKL

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

VBR ETF.com Efficiency Insight

VBR changed indexes in April 2013, and has remained a very well-managed, stable fund. It certainly doesn't hurt that VBR's expense ratio is the lowest in the segment, and tight tracking keeps real-world holding costs very too. Fund assets are massive at $4B+, highlighting its role as a segment giant. (Insight updated 09/03/2014)


Total Return - 12/18/2014

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

VBR
0.54% 1.27% 8.93% 11.61% 22.20% 16.66% 8.48%

VBR (NAV)
0.67% 1.43% 9.09% 11.77% 22.21% 16.67% 8.49%

CRSP US Small Cap Value Index
0.66% 1.43% 9.15% 11.86% 22.28% 16.72% 8.49%

MSCI USA Small Cap Value
0.29% 1.13% 7.59% 10.05% 20.56% 15.59% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

VBR Portfolio Management

Expense Ratio 0.09%

The net annual fee a fund holder pays to the issuer.

(12 Mo) | Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results." href="javascript:void(0)" class="term">Median Tracking Difference (12 Mo) -0.12%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

VBR Tax Exposures

Max LT/ST Capital Gains Rate 20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

Tax on Distributions Qualified dividends

IRS treatment of the majority of the fund's distributions.

Distributes K1 No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

VBR Fund Structure

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

OTC Derivative Use No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Securities Lending Active Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

ETN Counterparty N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Portfolio Disclosure Monthly

The frequency of an issuer's disclosure of all fund holdings.

VBR ETF.com Tradability Insight

VBR is easy to trade for retail investors and institutions alike—only IWN offers deeper liquidity. VBR’s spreads are tight at just 0.05%, and the daily volume is ample at $12M or better most days. In all, VBR is a thoroughly accessible product if not quite in IWN's league. (Insight updated 09/03/2014)

Average Spread

Premium/Discount

Volume

VBR ETF.com/ Block LiquidityAs of 12/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of VBR. VBR is rated a 5 out of 5.

VBR Tradability

Avg. Daily Share Volume 193,151

It is the daily number of shares traded, averaged over the past 45 trading days.

Average Daily $ Volume $20.01 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

Median Daily Share Volume 177,082

Median number of shares traded over the past 45 trading days.

(%) | The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 0.05%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.06

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

(12 Mo) | The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 0.12% / -0.14%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

Impediment to Creations None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

Market Hours Overlap 100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

(Shares) | The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 100,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

(45 Day Average) | The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 1.77

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 0.00%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

Underlying Volume / Unit 0.12%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

Open Interest on ETF Options 3,267

The total number of net outstanding options contracts for an ETF.

ETF.com Implied Liquidity 5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

VBR ETF.com Fit Insight

VBR changed its underlying index in April 2013, and it continues to deliver segment-best exposure. While the old index coincided with our MSCI benchmark, the new basket still aligns well with our midcap-heavy benchmark, an area where many funds differ. The fund favors industrials and cyclicals at the expense of financials, but these tilts aren't major. The fund has outperformed the benchmark while many peer funds have lagged over the past 12 months. (Insight updated 09/03/2014)

VBR Sector/Industry BreakdownView All

Sector VBR Segment Benchmark
Financials 38.39% 30.13%

Industrials 12.64% 16.48%

Consumer Cyclicals 10.59% 13.17%

Technology 8.91% 9.92%

Basic Materials 6.61% 8.17%

Healthcare 6.19% 7.14%

Utilities 6.92% 6.49%

Energy 4.95% 3.83%

VBR Geographic Exposure

Countries VBR Segment Benchmark
United States 99.74% 99.82%

Canada -- 0.12%

Netherlands 0.03% 0.03%

Luxembourg -- 0.02%

Ireland 0.19% --

South Africa 0.03% --

Argentina 0.01% --

Regions VBR Segment Benchmark
North America 99.74% 99.94%

Europe 0.22% 0.06%

Latin America 0.01% --

Developed /
Emerging Split
99.96% / 0.04% 100.00% / --

VBR Performance Statistics

Beta 1.02

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

Up Beta 1.00

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Down Beta 1.04

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

Downside Standard Deviation 0.08%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Segment Benchmark MSCI USA Small Cap Value

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

VBR Benchmark Comparison

VBR
807 Holdings
Segment Benchmark
1105 Constituents
Shared Holdings
612 (Count)
 
67.85% (Weight)
VBRSegment Benchmark
Market Cap | The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio." href="javascript:void(0)" class="term">Weighted Average
Market Cap
$3.06 B$3.34 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

Size Split

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

Large (>12.9B)0%0%
Mid (>2.7B)53%59%
Small (>600M)41%39%
Micro (<600M)6%2%
Price / Book Ratio1.711.87

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

Dividend Yield2.32%1.93%

The weighted average of the current yield on the portfolio’s holdings.

Holdings | The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper." href="javascript:void(0)" class="term">Number Of
Holdings
1105807

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

ConcentrationLowLow

The level of return contribution attributable to the average portfolio constituent.