VLUE vs MOAT: returns, risk and drawdowns compared
iShares MSCI USA Value Factor ETF against VanEck Morningstar Wide Moat ETF, over the same 6 years (July 2020 to October 2026) with dividends reinvested.
Data updated October 2026
From July 2020 to October 2026, VLUE returned 19.7% a year and MOAT 13.9% a year on average, so VLUE came out ahead by 5.8% a year. VLUE was the more volatile of the two (19.6% against 17.1% a year), and the deepest falls from a month-end high were 23.5% for VLUE and 21.2% for MOAT.
The correlation of monthly returns was 0.77: they usually moved together. Over 41 rolling 3-year periods, VLUE did better in 24% and MOAT in 76%.
Side by side
| VLUE | MOAT | |
|---|---|---|
| Annual return (CAGR) | +19.7% | +13.9% |
| Total return | +213% | +128% |
| Annual volatility | 19.6% | 17.1% |
| Maximum drawdown (month-end) | −23.5% | −21.2% |
| Worst month | −11.0% | −9.9% |
| Best month | +18.6% | +14.9% |
| Positive months | 58% | 64% |
| Best year | 2025: +32.7% | 2023: +31.9% |
| Worst year | 2022: −14.2% | 2022: −13.7% |
| 1-year return | +55.9% | +11.6% |
| 5 years, a year | +16.0% | +8.8% |
| 10 years, a year | — | +14.1% |
| Trading currency | USD | USD |
First nine rows: the same 76 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: VLUE vs MOAT
Returns by calendar year
| Year | VLUE | MOAT |
|---|---|---|
| 2025 | +32.7% | +13.2% |
| 2024 | +7.2% | +10.7% |
| 2023 | +14.3% | +31.9% |
| 2022 | −14.2% | −13.7% |
| 2021 | +28.9% | +24.1% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, VLUE or MOAT?
From July 2020 to October 2026, VLUE returned +19.7% a year and MOAT +13.9% a year, with dividends reinvested. Over rolling 3-year periods VLUE did better in 24% of cases. Past returns do not predict future returns.
Which is riskier, VLUE or MOAT?
Over the same months annual volatility was 19.6% for VLUE and 17.1% for MOAT; the deepest fall from a month-end high was 23.5% and 21.2%, and the worst single month −11.0% and −9.9%.
How correlated are VLUE and MOAT?
The correlation of their monthly returns was 0.77: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.