Abstract ‘Non-BOLD fMRI’ data acquired at non-zero echo time (TE) suffer from contamination by the Blood Oxygenation Level Dependent (BOLD) signal due to the unavoidable signal decay caused by transverse relaxation. This contamination further reduces their already low inherent functional sensitivities and makes their correction essential. The Slice-Saturation Slab-Inversion Vascular Space Occupancy (SS-SI–VASO), for instance, cancels out BOLD contributions from VASO data, reflecting cerebral blood volume (CBV) changes, via a dynamic division approach. Alternatively, multi-echo (ME) data provide the possibility of extrapolating to TE=0. Acquisitions at very short TE would minimize the need for such corrections. The center-out EPI variant (‘DEPICTING’) is one such readout which allows for short TE. The ME 2D DEPICTING was compared here against a traditional ME 2D EPI for its sensitivity to functional changes in the VASO signal. The two BOLD-correction schemes were also evaluated. Clear differences in functional sensitivity were observed for the uncorrected VASO data obtained from the first echo, TE1, of the two readouts. VASO data corrected by ME extrapolation were, however, found to be almost identical in their sensitivity for detecting CBV changes for both readouts. An excessively high increase in VASO signal sensitivity observed with the dynamic division correction for both readouts revealed a near-perfect linear dependence on TE of VASO signal changes. This could be attributed to the substantial intravascular BOLD contributions at 3 T. In the present data, extravascular ΔR2* fraction was found to be around ~50–60%. ME extrapolation is, hence, recommended to avoid overestimation of functional CBV changes at commonly used TEs.