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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vanguard Mid-Cap Growth Index Fund Admiral 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 Growth Index Fund Admiral Shares (VMGMX) has returned -10.43% so far this year and 2.69% over the past 12 months. Over the last ten years, VMGMX has returned 10.28% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Vanguard Mid-Cap Growth Index Fund Admiral Shares
- 1D
- -1.10%
- 1M
- -10.26%
- YTD
- -10.43%
- 6M
- -14.69%
- 1Y
- 2.69%
- 3Y*
- 9.33%
- 5Y*
- 3.77%
- 10Y*
- 10.28%
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 Sep 27, 2011, VMGMX's average daily return is +0.05%, while the average monthly return is +1.02%. At this rate, your investment would double in approximately 5.7 years.
Historically, 61% of months were positive and 39% were negative. The best month was Apr 2020 with a return of +15.9%, while the worst month was Mar 2020 at -15.1%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 4 months.
On a daily basis, VMGMX closed higher 54% of trading days. The best single day was Mar 24, 2020 with a return of +10.5%, while the worst single day was Mar 16, 2020 at -13.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.92% | 0.73% | -10.26% | -10.43% | |||||||||
| 2025 | 6.63% | -4.05% | -5.64% | 1.74% | 7.91% | 6.03% | 2.41% | -0.71% | 1.70% | -0.55% | -2.90% | -1.37% | 10.69% |
| 2024 | -2.10% | 6.08% | 2.90% | -5.12% | 2.23% | 0.49% | 1.69% | 1.90% | 2.53% | 0.31% | 10.85% | -6.02% | 15.65% |
| 2023 | 8.93% | -1.78% | 1.63% | -2.26% | 0.10% | 8.03% | 3.33% | -3.31% | -5.19% | -5.91% | 11.49% | 8.52% | 23.93% |
| 2022 | -12.82% | -1.29% | 1.88% | -11.45% | -3.17% | -8.09% | 11.82% | -3.37% | -9.84% | 6.72% | 5.73% | -6.33% | -28.84% |
| 2021 | -0.84% | 3.28% | -1.14% | 5.03% | -0.60% | 5.61% | 2.03% | 2.89% | -4.59% | 8.71% | -2.76% | 1.93% | 20.48% |
Benchmark Metrics
Vanguard Mid-Cap Growth Index Fund Admiral Shares has an annualized alpha of -1.50%, beta of 1.09, and R² of 0.88 versus S&P 500 Index. Calculated based on daily prices since September 28, 2011.
- This fund participated in 107.54% of S&P 500 Index downside but only 102.23% of its upside — more exposed to losses than it benefited from rallies.
- With beta of 1.09 and R² of 0.88, 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
- -1.50%
- Beta
- 1.09
- R²
- 0.88
- Upside Capture
- 102.23%
- Downside Capture
- 107.54%
Expense Ratio
VMGMX has an expense ratio of 0.07%, which is considered low.
Return for Risk
Risk / Return Rank
VMGMX ranks 7 for risk / return — in the bottom 7% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and compare them to a chosen benchmark (S&P 500 Index).
| VMGMX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.14 | 0.90 | -0.75 |
Sortino ratioReturn per unit of downside risk | 0.35 | 1.39 | -1.04 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.21 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.06 | 1.40 | -1.34 |
Martin ratioReturn relative to average drawdown | 0.19 | 6.61 | -6.42 |
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 VMGMX 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 Growth Index Fund Admiral Shares provided a 0.74% dividend yield over the last twelve months, with an annual payout of $0.79 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 | $0.79 | $0.77 | $0.73 | $0.67 | $0.60 | $0.37 | $0.51 | $0.54 | $0.43 | $0.40 | $0.37 | $0.35 |
Dividend yield | 0.74% | 0.64% | 0.67% | 0.71% | 0.78% | 0.34% | 0.56% | 0.78% | 0.84% | 0.72% | 0.81% | 0.82% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Mid-Cap Growth Index Fund Admiral 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 | $0.22 | $0.22 | |||||||||
| 2025 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.21 | $0.77 |
| 2024 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.22 | $0.73 |
| 2023 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.24 | $0.67 |
| 2022 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.18 | $0.60 |
| 2021 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.14 | $0.37 |
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 Growth Index Fund Admiral 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 Growth Index Fund Admiral Shares was 37.17%, occurring on Oct 14, 2022. Recovery took 520 trading sessions.
The current Vanguard Mid-Cap Growth Index Fund Admiral Shares drawdown is 15.95%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -37.17% | Nov 17, 2021 | 229 | Oct 14, 2022 | 520 | Nov 8, 2024 | 749 |
| -36.03% | Feb 20, 2020 | 23 | Mar 23, 2020 | 74 | Jul 8, 2020 | 97 |
| -21.83% | Sep 17, 2018 | 69 | Dec 24, 2018 | 59 | Mar 21, 2019 | 128 |
| -21.75% | Jun 23, 2015 | 162 | Feb 11, 2016 | 228 | Jan 6, 2017 | 390 |
| -21.65% | Feb 11, 2025 | 40 | Apr 8, 2025 | 52 | Jun 24, 2025 | 92 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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