PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VMVFX vs. VTWAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VMVFX vs. VTWAX

Last updated Jun 5, 2026

VMVFX (Vanguard Global Minimum Volatility Fund Investor Shares) and VTWAX (Vanguard Total World Stock Index Fund Admiral Shares) are both Global Equities funds from Vanguard. Over the past 5 years, VMVFX returned 10.57%/yr vs 10.98%/yr for VTWAX. Their correlation of 0.81 suggests significant overlap in exposure. VMVFX charges 0.21%/yr vs 0.09%/yr for VTWAX.

Performance

VMVFX vs. VTWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) and Vanguard Total World Stock Index Fund Admiral Shares (VTWAX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VMVFX achieves a 7.99% return, which is significantly lower than VTWAX's 12.29% return.

VMVFX

1D
-0.41%
1M
1.55%
YTD
7.99%
6M
8.43%
1Y
13.15%
3Y*
13.45%
5Y*
10.57%
10Y*
9.46%

VTWAX

1D
-0.76%
1M
3.90%
YTD
12.29%
6M
13.02%
1Y
29.00%
3Y*
20.96%
5Y*
10.98%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VMVFX vs. VTWAX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
VMVFX
Vanguard Global Minimum Volatility Fund Investor Shares		7.99%12.74%13.38%7.82%-4.48%23.74%-3.99%15.81%
VTWAX
Vanguard Total World Stock Index Fund Admiral Shares		12.29%22.43%16.43%21.85%-18.02%18.17%16.67%17.53%

Correlation

The correlation between VMVFX and VTWAX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.59

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Feb 8, 2019

0.81

Over the past year, the correlation between VMVFX and VTWAX has dropped to 0.59 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

VMVFX vs. VTWAX - Sectors Allocation Comparison

Sectors
VMVFX
VTWAX

Technology

20.9%
27.8%

Financial Services

12.8%
15.9%

Healthcare

12.8%
8.1%

Industrials

11.4%
12.0%

Consumer Defensive

10.1%
4.8%

Communication Services

9.8%
8.3%

Consumer Cyclical

7.9%
9.5%

Utilities

7.1%
2.7%

Energy

4.3%
4.3%

Real Estate

2.8%
2.4%

Basic Materials

0.2%
4.2%

Technology

VMVFX
20.9%
VTWAX
27.8%

Financial Services

VMVFX
12.8%
VTWAX
15.9%

Healthcare

VMVFX
12.8%
VTWAX
8.1%

Industrials

VMVFX
11.4%
VTWAX
12.0%

Consumer Defensive

VMVFX
10.1%
VTWAX
4.8%

Communication Services

VMVFX
9.8%
VTWAX
8.3%

Consumer Cyclical

VMVFX
7.9%
VTWAX
9.5%

Utilities

VMVFX
7.1%
VTWAX
2.7%

Energy

VMVFX
4.3%
VTWAX
4.3%

Real Estate

VMVFX
2.8%
VTWAX
2.4%

Basic Materials

VMVFX
0.2%
VTWAX
4.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Global Minimum Volatility Fund Investor Shares

Vanguard Total World Stock Index Fund Admiral Shares

Often compared with VMVFX:
VMVFX vs. VMNVXVMVFX vs. VOOVMVFX vs. VMNFXVMVFX vs. VXUSVMVFX vs. QLVVMVFX vs. SWPPXVMVFX vs. vtsax
Often compared with VTWAX:
VTWAX vs. VTSAXVTWAX vs. VTVTWAX vs. VTIAXVTWAX vs. VFIAXVTWAX vs. VTWIXVTWAX vs. VOOVTWAX vs. VASGX

Return for Risk

VMVFX vs. VTWAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VMVFX
VMVFX Risk / Return Rank: 3737
Overall Rank
VMVFX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VMVFX Sortino Ratio Rank: 4040
Sortino Ratio Rank
VMVFX Omega Ratio Rank: 3939
Omega Ratio Rank
VMVFX Calmar Ratio Rank: 3030
Calmar Ratio Rank
VMVFX Martin Ratio Rank: 3636
Martin Ratio Rank
VTWAX
VTWAX Risk / Return Rank: 6363
Overall Rank
VTWAX Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
VTWAX Sortino Ratio Rank: 6060
Sortino Ratio Rank
VTWAX Omega Ratio Rank: 5959
Omega Ratio Rank
VTWAX Calmar Ratio Rank: 6262
Calmar Ratio Rank
VTWAX Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VMVFX vs. VTWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) and Vanguard Total World Stock Index Fund Admiral Shares (VTWAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

VMVFXVTWAXDifference
Sharpe ratioReturn per unit of total volatility
1.87
2.38

-0.51

Sortino ratioReturn per unit of downside risk
2.66
3.27

-0.61

Omega ratioGain probability vs. loss probability

1.33

1.43

-0.10

Calmar ratioReturn relative to maximum drawdown

2.03

3.05

-1.02

Martin ratioReturn relative to average drawdown

7.92

13.64

-5.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMVFX vs. VTWAX - Sharpe Ratio Comparison

The current VMVFX Sharpe Ratio is 1.87, which is comparable to the VTWAX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of VMVFX and VTWAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VMVFXVTWAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.87

2.38

-0.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.99

0.70

+0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.76

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.82

0.77

+0.05

Drawdowns

VMVFX vs. VTWAX - Drawdown Comparison

The maximum VMVFX drawdown since its inception was -33.09%, roughly equal to the maximum VTWAX drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for VMVFX and VTWAX.

Loading charts...

Drawdown Indicators

VMVFXVTWAXDifference

Max Drawdown

Largest peak-to-trough decline

-33.09%

-34.20%

+1.11%

Max Drawdown (1Y)

Largest decline over 1 year

-6.27%

-9.64%

+3.37%

Max Drawdown (3Y)

Largest decline over 3 years

-7.96%

-16.43%

+8.47%

Max Drawdown (5Y)

Largest decline over 5 years

-13.02%

-26.40%

+13.38%

Max Drawdown (10Y)

Largest decline over 10 years

-33.09%

—

—

Current Drawdown

Current decline from peak

-0.58%

-0.76%

+0.18%

Average Drawdown

Average peak-to-trough decline

-2.83%

-5.30%

+2.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.60%

2.15%

-0.55%

Volatility

VMVFX vs. VTWAX - Volatility Comparison

The current volatility for Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) is 1.98%, while Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) has a volatility of 3.64%. This indicates that VMVFX experiences smaller price fluctuations and is considered to be less risky than VTWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VMVFXVTWAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.98%

3.64%

-1.66%

Volatility (6M)

Calculated over the trailing 6-month period

5.11%

9.84%

-4.73%

Volatility (1Y)

Calculated over the trailing 1-year period

6.82%

12.39%

-5.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.76%

15.72%

-4.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.48%

18.20%

-5.72%

VMVFX vs. VTWAX - Expense Ratio Comparison

VMVFX has a 0.21% expense ratio, which is higher than VTWAX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VMVFX vs. VTWAX - Dividend Comparison

VMVFX's dividend yield for the trailing twelve months is around 9.24%, more than VTWAX's 1.57% yield.

PositionTTM20252024202320222021202020192018201720162015
VMVFX
Vanguard Global Minimum Volatility Fund Investor Shares		9.24%9.98%3.77%3.05%4.96%12.73%2.02%5.12%7.27%2.30%2.71%3.22%
VTWAX
Vanguard Total World Stock Index Fund Admiral Shares		1.57%1.80%1.92%2.06%2.17%1.79%1.64%2.28%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VMVFX and VTWAX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VTWAX has higher volatility (3.64%) compared to VMVFX (1.98%). In terms of maximum drawdown, VMVFX dropped -33.09% vs VTWAX's -34.20%.

VTWAX currently has the higher Sharpe Ratio (2.38 vs 1.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for VMVFX and VTWAX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer