The stock market is near all-time highs and valuations look stretched -- it might be time to start adding a little more value to your portfolio.

Vanguard S&P 500 ETF ( VOO -0.64% ) has an average price-to-earnings ratio of 27.6 and a price that is near all-time highs. This market tracking index exchange traded fund (ETF) highlights the risk in the market today as valuations get stretched by enthusiastic investors. If the market environment has you worried, the right ETF for you could be Vanguard Value ETF ( VTV 0.04% ) . Here's why.

What does Vanguard Value ETF do?

Vanguard Value ETF is an index-tracking ETF, so, technically, it doesn't do anything but buy the same stocks as the index it is tracking. The index it tracks is the CRSP US Large Cap Value Index. You probably h

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