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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vanguard Mid-Cap Index Fund Institutional Plus Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) has returned -2.79% so far this year and 10.32% over the past 12 months. Over the last ten years, VMCPX has returned 10.44% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Vanguard Mid-Cap Index Fund Institutional Plus Shares
- 1D
- -0.66%
- 1M
- -7.87%
- YTD
- -2.79%
- 6M
- -3.58%
- 1Y
- 10.32%
- 3Y*
- 11.80%
- 5Y*
- 6.52%
- 10Y*
- 10.44%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Dec 13, 2010, VMCPX's average daily return is +0.05%, while the average monthly return is +0.96%. At this rate, your investment would double in approximately 6.0 years.
Historically, 63% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +14.4%, while the worst month was Mar 2020 at -18.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VMCPX closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +10.9%, while the worst single day was Mar 16, 2020 at -12.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.09% | 3.36% | -7.87% | -2.79% | |||||||||
| 2025 | 4.44% | -1.87% | -3.96% | -0.93% | 5.49% | 4.02% | 2.02% | 1.54% | 1.61% | -0.97% | 0.45% | -0.29% | 11.70% |
| 2024 | -1.98% | 5.03% | 4.26% | -4.75% | 2.75% | -0.62% | 4.03% | 2.53% | 2.54% | -0.43% | 8.28% | -6.83% | 14.68% |
| 2023 | 7.95% | -2.70% | -1.12% | -0.75% | -2.64% | 8.42% | 3.53% | -3.59% | -4.89% | -4.73% | 10.01% | 7.66% | 16.55% |
| 2022 | -7.86% | -0.99% | 2.69% | -8.05% | -0.31% | -9.40% | 9.61% | -2.97% | -9.87% | 8.52% | 6.15% | -5.35% | -18.68% |
| 2021 | -0.52% | 5.25% | 2.37% | 4.82% | 0.81% | 1.81% | 1.29% | 3.02% | -4.15% | 6.61% | -2.51% | 3.90% | 24.54% |
Benchmark Metrics
Vanguard Mid-Cap Index Fund Institutional Plus Shares has an annualized alpha of -0.55%, beta of 1.02, and R² of 0.92 versus S&P 500 Index. Calculated based on daily prices since December 14, 2010.
- With beta of 1.02 and R² of 0.92, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.55%
- Beta
- 1.02
- R²
- 0.92
- Upside Capture
- 100.49%
- Downside Capture
- 103.21%
Expense Ratio
VMCPX has an expense ratio of 0.03%, which is considered low.
Return for Risk
Risk / Return Rank
VMCPX ranks 25 for risk / return — below 25% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) and compare them to a chosen benchmark (S&P 500 Index).
| VMCPX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 0.90 | -0.26 |
Sortino ratioReturn per unit of downside risk | 0.99 | 1.39 | -0.40 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.21 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.40 | -0.67 |
Martin ratioReturn relative to average drawdown | 3.40 | 6.61 | -3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore VMCPX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Vanguard Mid-Cap Index Fund Institutional Plus Shares provided a 1.55% dividend yield over the last twelve months, with an annual payout of $5.88 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $5.88 | $6.00 | $5.35 | $4.80 | $4.44 | $3.89 | $4.06 | $3.59 | $3.43 | $2.86 | $2.61 | $2.42 |
Dividend yield | 1.55% | 1.53% | 1.50% | 1.52% | 1.61% | 1.13% | 1.45% | 1.49% | 1.84% | 1.37% | 1.47% | 1.50% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Mid-Cap Index Fund Institutional Plus Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $1.46 | $1.46 | |||||||||
| 2025 | $0.00 | $0.00 | $1.58 | $0.00 | $0.00 | $1.45 | $0.00 | $0.00 | $1.40 | $0.00 | $0.00 | $1.56 | $6.00 |
| 2024 | $0.00 | $0.00 | $1.32 | $0.00 | $0.00 | $1.26 | $0.00 | $0.00 | $1.29 | $0.00 | $0.00 | $1.48 | $5.35 |
| 2023 | $0.00 | $0.00 | $1.03 | $0.00 | $0.00 | $1.10 | $0.00 | $0.00 | $1.06 | $0.00 | $0.00 | $1.60 | $4.80 |
| 2022 | $0.00 | $0.00 | $1.02 | $0.00 | $0.00 | $0.80 | $0.00 | $0.00 | $1.09 | $0.00 | $0.00 | $1.52 | $4.44 |
| 2021 | $0.00 | $0.00 | $0.86 | $0.00 | $0.00 | $0.94 | $0.00 | $0.00 | $0.84 | $0.00 | $0.00 | $1.25 | $3.89 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Mid-Cap Index Fund Institutional Plus Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Mid-Cap Index Fund Institutional Plus Shares was 39.30%, occurring on Mar 23, 2020. Recovery took 114 trading sessions.
The current Vanguard Mid-Cap Index Fund Institutional Plus Shares drawdown is 8.13%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -39.3% | Feb 21, 2020 | 22 | Mar 23, 2020 | 114 | Sep 2, 2020 | 136 |
| -27.54% | Nov 17, 2021 | 229 | Oct 14, 2022 | 438 | Jul 16, 2024 | 667 |
| -24.6% | Jul 8, 2011 | 61 | Oct 3, 2011 | 111 | Mar 13, 2012 | 172 |
| -21.21% | Aug 30, 2018 | 80 | Dec 24, 2018 | 70 | Apr 5, 2019 | 150 |
| -19.66% | May 22, 2015 | 183 | Feb 11, 2016 | 112 | Jul 22, 2016 | 295 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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