Overview
The small-cap value corner of the US market — roughly 850 cheap, smaller companies, the segment with the strongest long-run factor record and the cheapest fund covering it.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| — | Financials | ~22% |
| — | Industrials | ~20% |
| — | Consumer discretionary | ~14% |
| SFM | Sprouts Farmers Market | 0.8% |
| THC | Tenet Healthcare | 0.7% |
| EME | EMCOR Group | 0.7% |
Fund Details
Investment Thesis
Small value is the most-studied premium in finance: over long horizons, cheap small companies have out-compounded everything else, at the price of long stretches of underperformance that test conviction. VBR delivers the exposure at 0.07% with CRSP's low-turnover methodology. Its +28.7% year — ahead of the S&P 500 — is what the payoff looks like when the cycle finally turns toward the factor.
Who It's For
Patient investors adding a deliberate factor tilt to a core portfolio, with the discipline to hold through the inevitable years when large growth leads.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $110.19 | -- |
| 2017 | $122.86 | +11.5% |
| 2018 | $107.62 | -12.4% |
| 2019 | $131.52 | +22.2% |
| 2020 | $136.51 | +3.8% |
| 2021 | $172.69 | +26.5% |
| 2022 | $155.59 | -9.9% |
| 2023 | $178.31 | +14.6% |
| 2024 | $197.03 | +10.5% |
| 2025 | $213.19 | +8.2% |
| Year | Yield |
|---|---|
| 2016 | 2.23% |
| 2017 | 2.31% |
| 2018 | 2.12% |
| 2019 | 2.19% |
| 2020 | 2.00% |
| 2021 | 2.07% |
| 2022 | 1.89% |
| 2023 | 1.94% |
| 2024 | 1.77% |
| 2025 | 1.77% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $9.0B | -- |
| 2017 | $10B | +11.1% |
| 2018 | $12B | +20.0% |
| 2019 | $14B | +16.7% |
| 2020 | $16B | +14.3% |
| 2021 | $18B | +12.5% |
| 2022 | $21B | +16.7% |
| 2023 | $24B | +14.3% |
| 2024 | $28B | +16.7% |
| 2025 | $32B | +14.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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