- ISIN
- US9229088763
- CUSIP
- 922908876
- Issuer
- Vanguard
- Inception Date
- Jul 7, 1997
- Region
- North America (U.S.)
- Category
- Small Cap Blend Equities
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $183B
Share Price Chart
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Performance
VSCIX Performance Chart
Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) is up 15.7% since the beginning of the year. VSCIX is currently trading at $142 per share. Investors who bought $1,000 worth of VSCIX shares 5 years ago would now be looking at an investment worth $1,428.
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Returns By Period
Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) has returned 15.72% so far this year and 29.06% over the past 12 months. Over the last ten years, VSCIX has returned 11.79% per year, falling short of the S&P 500 Index benchmark, which averaged 13.71% annually.
Vanguard Small-Cap Index Fund Institutional Shares
- 1D
- 0.25%
- 1M
- 2.87%
- YTD
- 15.72%
- 6M
- 13.57%
- 1Y
- 29.06%
- 3Y*
- 17.54%
- 5Y*
- 7.38%
- 10Y*
- 11.79%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
VSCIX Monthly Returns History
Based on dividend-adjusted daily data since Jul 7, 1997, VSCIX's average daily return is +0.05%, while the average monthly return is +0.91%. At this rate, an investment would double in approximately 6.4 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +18.4%, while the worst month was Mar 2020 at -21.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VSCIX closed higher 53% of trading days. The best single day was Nov 11, 2003 with a return of +17.4%, while the worst single day was Mar 16, 2020 at -14.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.61% | 2.75% | -5.20% | 8.63% | 3.19% | 1.31% | 15.72% | ||||||
| 2025 | 3.89% | -4.83% | -6.31% | -2.49% | 5.55% | 4.24% | 1.86% | 4.60% | 0.96% | 0.30% | 1.45% | 0.07% | 8.85% |
| 2024 | -3.72% | 5.80% | 4.37% | -6.54% | 3.96% | -1.34% | 6.79% | 0.13% | 1.98% | -0.72% | 10.51% | -7.34% | 12.96% |
| 2023 | 10.14% | -2.28% | -3.63% | -1.17% | -1.97% | 8.72% | 4.95% | -3.70% | -5.62% | -5.82% | 9.19% | 11.51% | 19.52% |
| 2022 | -7.90% | 0.85% | 1.48% | -8.24% | -0.02% | -9.40% | 10.58% | -2.60% | -9.57% | 9.92% | 4.43% | -5.94% | -17.60% |
| 2021 | 2.20% | 6.14% | 1.61% | 4.04% | 0.07% | 1.43% | -1.43% | 1.97% | -3.11% | 4.91% | -4.34% | 3.49% | 17.74% |
Benchmark Metrics
Vanguard Small-Cap Index Fund Institutional Shares has an annualized alpha of 2.02%, beta of 1.04, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since July 07, 1997.
- This fund captured 117.38% of S&P 500 Index gains and 107.95% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This fund generated an annualized alpha of 2.02% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.04 and R2 of 0.78, 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
- 2.02%
- Beta
- 1.04
- R²
- 0.78
- Upside Capture
- 117.38%
- Downside Capture
- 107.95%
Expense Ratio
VSCIX has an expense ratio of 0.04%, which is considered low.
Return for Risk
Risk / Return Rank
VSCIX ranks 56 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VSCIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 2.46 | +0.93 |
| Martin ratioReturn relative to average drawdown | 12.45 | 10.92 | +1.53 |
Dividends
Dividend History
Vanguard Small-Cap Index Fund Institutional Shares provided a 1.18% dividend yield over the last twelve months, with an annual payout of $1.69 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.69 | $1.66 | $1.51 | $1.60 | $1.36 | $1.35 | $1.07 | $1.11 | $1.06 | $0.96 | $0.93 | $0.79 |
Dividend yield | 1.18% | 1.34% | 1.31% | 1.55% | 1.55% | 1.25% | 1.15% | 1.40% | 1.68% | 1.36% | 1.50% | 1.49% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Small-Cap Index Fund Institutional 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 | $0.47 | $0.00 | $0.00 | $0.00 | $0.47 | ||||||
| 2025 | $0.00 | $0.00 | $0.44 | $0.00 | $0.00 | $0.38 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $0.45 | $1.66 |
| 2024 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.44 | $1.51 |
| 2023 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.37 | $0.00 | $0.00 | $0.35 | $0.00 | $0.00 | $0.52 | $1.60 |
| 2022 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.49 | $1.36 |
| 2021 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.53 | $1.35 |
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 Small-Cap Index Fund Institutional 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 Small-Cap Index Fund Institutional Shares was 59.66%, occurring on Mar 9, 2009. Recovery took 451 trading sessions.
The current Vanguard Small-Cap Index Fund Institutional Shares drawdown is 0.33%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -59.66%Mar 2009 | 1y 7mo | 1y 9mo | 3y 5moJul 2007 - Dec 2010 |
COVID crash2020 | -41.81%Mar 2020 | 1mo 1d | 7mo 21d | 8mo 22dFeb 2020 - Nov 2020 |
Dot-com crash2000–2002 | -41.76%Oct 2002 | 2y 7mo | 1y 1mo | 3y 8moMar 2000 - Nov 2003 |
1998 bear market1998 | -36.67%Oct 1998 | 11mo 29d | 1y 2mo | 2y 2moOct 1997 - Dec 1999 |
2011 bear market2011 | -28.38%Oct 2011 | 5mo 4d | 11mo 9d | 1y 4moMay 2011 - Sep 2012 |
Drawdown Indicators
| VSCIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.66% | -56.78% | -2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.97% | -9.10% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -18.90% | -6.35% |
Max Drawdown (5Y)Largest decline over 5 years | -28.13% | -25.43% | -2.70% |
Max Drawdown (10Y)Largest decline over 10 years | -41.81% | -33.92% | -7.89% |
Current DrawdownCurrent decline from peak | -0.33% | -3.21% | +2.88% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -10.71% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 2.04% | +0.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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