What Is VONV? Vanguard Russell 1000 Value Index Fund ETF Shares
Last updated October 2026
Short answer
VONV is Vanguard Russell 1000 Value Index Fund ETF Shares, an ETF that tracks the Russell 1000 Value Index at a 0.06% expense ratio. VONV holds the value half of the Russell 1000 at 0.06%, which makes it one of the cheapest ways to express a US value tilt. Like every mechanical US value fund it demonstrates the same awkward truth: as of October 2026 its largest holdings are Amazon at 6.1%, Apple at 5.6% and Microsoft at 5.0%. When a market is this concentrated at the top, a value screen cannot avoid the giants, and understanding that before buying prevents a fairly common disappointment. The fund has had a strong year: as of 2026-10-16 its share price was up 20.9% year to date and 27.1% over one year.
VONV is issued by Vanguard and tracks the Russell 1000 Value Index. It charges a 0.06% expense ratio, holds approximately $23.3B in assets under management, yields about 1.60%, and launched in 2010.
Why the giants keep appearing
FTSE Russell scores companies on value characteristics and allocates them between the value and growth indices, splitting a company across both where its profile is mixed. Amazon and Apple are so large that even a partial value allocation places them near the top of the fund, and as of October 2026 Microsoft has grown to 5.0% beside them.
The result is a portfolio whose top holdings look much like a broad index fund's, with the weights redistributed. JPMorgan at 2.5% and Berkshire Hathaway at 2.5% are more conventionally value-shaped, and AbbVie has replaced Intel in the top ten since August. Technology at 21% and financials at 19% describes a genuinely more balanced sector profile than the broad index, which is the real benefit on offer.
What it delivers, and at what price
The 1.60% yield sits roughly double a growth fund and below a dedicated dividend fund, which is the usual signature of a broad value screen.
Returns in 2026 have been strong for a value fund. As of 2026-10-16 VONV's share price was up 20.9% year to date and 27.1% over one year, with a three-year beta of 0.79, and assets rose to about $23.3B.
At 0.06% VONV is markedly cheaper than most value alternatives. IUSV and SPYV charge 0.04% against slightly different universes, so the whole category is now priced close to commodity levels. Between them the differences are small enough that availability and tax consequences should decide.
VONV holdings: top 10
Approximate weights as of October 2026. Each ticker links to its individual stock guide in Walnut.
How do I invest in VONV?
There are three common ways to get VONV exposure. Buy shares (or fractional shares) of VONV directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so VONV sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. VONV trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is VONV a good buy?
Whether VONV is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks the Russell 1000 Value Index, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is VONV a buy?
The bottom line on VONV
VONV gives you the Russell 1000 Value Index exposure in one ticker at a 0.06% expense ratio. Most investors use it as a core holding and layer more concentrated thematic portfolios on top.
More on VONV
Whether VONV is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is VONV a buy?
VONV yields 1.60% as of October 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see VONV dividend: yield and schedule.
For what analysts expect from the companies VONV holds, its yield as a guide to income, and why no one publishes a price target for the fund itself, see the VONV forecast.
New to funds like VONV? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how VONV fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in VONV with AI
Connect the broker you already use and ask Walnut's AI how VONV fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is VONV?
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VONV is the Vanguard Russell 1000 Value ETF. It holds the value half of the Russell 1000, the largest 1,000 US companies. It charges 0.06%, holds about $23.3B as of October 2026, yields roughly 1.60%, and launched in 2010.
Why are Amazon and Apple the top holdings in a value fund?
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Because FTSE Russell splits companies across its value and growth indices rather than assigning them wholly to one. Amazon and Apple are large enough that even a partial value allocation puts them near the top, at 6.1% and 5.6% respectively as of October 2026, with Microsoft close behind at 5.0%. Every mechanical US value fund has this characteristic.
What does VONV hold?
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As of October 2026, Amazon at 6.1%, Apple at 5.6%, Microsoft at 5.0%, JPMorgan at 2.5% and Berkshire Hathaway at 2.5%. By sector: technology 21%, financials 19% and healthcare 13%, which is more balanced than the broad index.
VONV vs IUSV vs SPYV: which value fund?
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The category is now priced close to commodity levels: VONV at 0.06%, IUSV and SPYV at 0.04%, all applying similar mechanical screens to slightly different universes. Their holdings and behaviour are close enough that availability in your account and avoiding a taxable sale should decide it.
Is VONV a real value fund?
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It is the value half of the large-cap market, which is not the same as a deep-value fund. Technology is still 21% of it. The useful description is that it holds meaningfully less technology than the broad index, which is a genuine and worthwhile difference even if the label oversells it.
Does VONV pay a good dividend?
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About 1.60%, roughly double a growth fund and below a dedicated dividend fund. Companies screening as cheap tend to distribute more of their earnings, so the yield follows from the screen rather than being targeted.
When does VONV outperform?
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Typically when large-cap growth lags, since holding less of it is its main structural difference from the broad index. Value underperformed for much of the period when mega-cap technology led, and periods of reversal are when the tilt pays. In 2026 it has done well in absolute terms, with the share price up 20.9% year to date as of 2026-10-16.
Should I hold VONV alongside a broad index fund?
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Only as a deliberate tilt. Every VONV holding already sits in a broad US index fund, so adding it changes your weights rather than introducing new companies. That can be a sound decision; it is not diversification.
What is VONV's expense ratio?
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VONV has an expense ratio of 0.06% per year as of October 2026, charged by Vanguard and deducted from the fund's value rather than billed to you separately. On a $10,000 position that is roughly $6 a year. Fees compound over time, so on a long-term holding the expense ratio is one of the few return drivers you control. It is worth comparing against other funds that track the Russell 1000 Value Index before you choose.
How do I compare VONV to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. VONV's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to October 2026; verify current figures against Vanguard's fund page or your broker before investing.