VOE tracks the CRSP US Mid Cap Value Index, which selects mid-sized US companies using value measures such as price-to-book and price-to-earnings. The portfolio is weighted toward financials, industrials, utilities, real estate and consumer companies, with little exposure to technology. The dividend yield is typically higher than that of mid-cap growth funds. Mid-cap value has historically combined some of the size and value premiums, but it has also lagged growth stocks during long periods of technology leadership.
