What Is VTV? Vanguard Value ETF

VTV is the Vanguard Value ETF, a single ticker that holds roughly 330 large-cap US value stocks weighted by market capitalization. It tracks the CRSP US Large Cap Value Index, which takes the large-cap US market and keeps the value half: companies that screen as cheaper and more dividend-rich, with less of the high-growth profile that defines the other half. At a 0.04% expense ratio, it is one of the cheapest ways to put a deliberate value tilt on a portfolio.

The simplest way to understand VTV is as one half of the large-cap market. Where VOO owns the entire S&P 500, value and growth together, VTV keeps only the value side and VUG (Vanguard Growth) keeps the other. Holding VTV means leaning toward financials, healthcare, industrials, consumer staples, and energy, and away from the mega-cap tech that dominates a broad-market fund, in exchange for a higher dividend yield of roughly 2.4%.

Approximate weights as of early 2026; refresh quarterly from Vanguard's fund page. Each ticker links to its individual stock guide in Walnut.

Because VTV is cap-weighted, its top holdings are large, established companies that screen as value: names like Berkshire Hathaway, JPMorgan, Broadcom, Exxon Mobil, Johnson & Johnson, Walmart, Procter & Gamble, Home Depot, UnitedHealth, and AbbVie. See the top-10 table above for current weights. No single name dominates the way NVIDIA or Apple can in a growth or broad-market fund, because value indexes skew toward sectors where the biggest companies are more evenly sized.

The other roughly 320 holdings fill out the rest, concentrated in financials, healthcare, industrials, consumer staples, and energy. That sector mix is the entire point of VTV: it is what the value half of the market looks like once high-growth tech is largely set aside. Index methodology occasionally classifies a name like Broadcom as value, so the exact roster shifts at each rebalance, but the overall tilt toward cheaper, dividend-paying sectors is consistent.

All three cover large-cap US stocks, but they slice the market differently. VOO owns the whole S&P 500, value and growth together, as a single blended core. VTV keeps only the value half (cheaper, higher-yielding, tilted to financials and energy), and VUG keeps only the growth half (tech-heavy, lower-yielding, faster-growing). Holding VTV and VUG together roughly recreates the large-cap market that VOO covers in one fund.

The practical choice is whether you want a tilt or a blend. VOO is the no-decision core: you get both styles at market weight. VTV is a deliberate lean toward value, which has historically traded leadership with growth over multi-year stretches rather than one permanently beating the other. Picking VTV is a statement that you want more of the cheaper, dividend-rich half than the market gives you by default, knowing that in long growth-led runs it will lag a blended fund.

VTV's total return comes from price appreciation across its value holdings plus a dividend that yields roughly 2.4%, paid quarterly, well above a broad-market fund because value stocks distribute more. Its returns track the value style, so through the long stretch of growth and mega-cap tech leadership over the past decade, VTV has generally trailed both VUG and a blended fund like VOO. In periods when value outperforms, that relationship reverses.

That is the central thing to understand before buying: VTV is a bet on the value style rather than on the market as a whole. Value and growth take turns leading, often for years at a time, and VTV is built to capture the value side specifically. It is best judged over full cycles and against a value benchmark rather than against a growth fund or the S&P 500, since matching growth-led returns is not what it is designed to do.

VTV suits investors who want a low-cost, diversified tilt toward large-cap value: cheaper, more dividend-rich companies than the broad market, in one ticker. It fits people who believe value will lead or who simply want more income and less tech concentration than a broad-market core provides, without having to pick individual value stocks themselves.

Where it falls short: VTV's value tilt means it largely sits out the high-growth tech that has driven much of the market's gains, so in long growth-led stretches it lags a blended fund like VOO. It also overlaps heavily with the value names already inside VOO, so pairing the two adds a tilt rather than diversification. Walnut isn't an investment adviser and this isn't a recommendation, but in conversation Walnut's AI can show you how much value versus growth you already hold and where VTV fits as a tilt.

VTV trades on NYSE Arca during US market hours (9:30am to 4:00pm ET) and is available commission-free at every major broker, including Robinhood, Fidelity, Schwab, Vanguard, Public, M1, and Webull. Fractional shares are supported at most modern brokers, which also lets the quarterly dividends reinvest automatically as fractional shares (DRIP), useful for a long-term value tilt.

Walnut doesn't replace your broker, it sits on top of it. Connect any major broker and Walnut adds an AI layer that helps you build baskets around VTV, track how your holdings are doing against your targets, and rebalance when your allocation drifts.

VTV is the low-cost large-cap value tilt: the cheaper, more dividend-rich half of the US large-cap market at a 0.04% fee. It fits investors who want a value lean rather than the whole market, knowing value and growth take turns leading, instead of a blended core like VOO or a dividend-screened fund like SCHD.

Whether VTV 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 VTV a buy?

VTV yields ~2.4% as of early 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see VTV dividend: yield and schedule.