^OEX vs. VIGIX

Last updated Jun 5, 2026

^OEX (S&P 100 Index) is an index, while VIGIX (Vanguard Growth Index Fund Institutional Shares) is Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 10 years, ^OEX returned 14.96%/yr vs 18.25%/yr for VIGIX. With a 0.96 correlation, they move nearly in lockstep.

Performance

^OEX vs. VIGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 100 Index (^OEX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ^OEX having a 9.46% return and VIGIX slightly higher at 9.47%. Over the past 10 years, ^OEX has underperformed VIGIX with an annualized return of 14.96%, while VIGIX has yielded a comparatively higher 18.25% annualized return.

^OEX

• 1D: 0.35%
• 1M: 4.77%
• YTD: 9.46%
• 6M: 9.14%
• 1Y: 28.71%
• 3Y*: 23.43%
• 5Y*: 14.42%
• 10Y*: 14.96%

VIGIX

• 1D: -1.23%
• 1M: 5.47%
• YTD: 9.47%
• 6M: 8.60%
• 1Y: 27.36%
• 3Y*: 25.95%
• 5Y*: 15.10%
• 10Y*: 18.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^OEX vs. VIGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^OEX S&P 100 Index	9.46%	18.76%	29.25%	30.83%	-22.12%	27.55%	19.30%	29.47%	-5.86%	19.34%
VIGIX Vanguard Growth Index Fund Institutional Shares	9.47%	19.44%	32.68%	46.77%	-33.13%	27.27%	40.19%	37.26%	-3.34%	27.81%

Correlation

The correlation between ^OEX and VIGIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 15, 1998	0.96

The correlation between ^OEX and VIGIX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

^OEX vs. VIGIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^OEX

^OEX Risk / Return Rank: 74
^OEX Sharpe Ratio Rank: 78
^OEX Sortino Ratio Rank: 78
^OEX Omega Ratio Rank: 78
^OEX Calmar Ratio Rank: 63
^OEX Martin Ratio Rank: 71

VIGIX

VIGIX Risk / Return Rank: 30
VIGIX Sharpe Ratio Rank: 37
VIGIX Sortino Ratio Rank: 33
VIGIX Omega Ratio Rank: 33
VIGIX Calmar Ratio Rank: 21
VIGIX Martin Ratio Rank: 24

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.

^OEX vs. VIGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 100 Index (^OEX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). 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.

	^OEX	VIGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.76	+0.52
Sortino ratio: Return per unit of downside risk	3.10	2.40	+0.70
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	2.55	1.70	+0.86
Martin ratio: Return relative to average drawdown	10.65	5.96	+4.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^OEX vs. VIGIX - Sharpe Ratio Comparison

The current ^OEX Sharpe Ratio is 2.27, which is comparable to the VIGIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of ^OEX and VIGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^OEX	VIGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.76	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.68	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.85	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.47	+0.04

Drawdowns

^OEX vs. VIGIX - Drawdown Comparison

The maximum ^OEX drawdown since its inception was -61.31%, which is greater than VIGIX's maximum drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for ^OEX and VIGIX.

Drawdown Indicators

	^OEX	VIGIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.31%	-56.95%	-4.36%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-16.51%	+5.21%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-23.03%	+3.14%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-35.62%	+8.39%
Max Drawdown (10Y) Largest decline over 10 years	-31.53%	-35.62%	+4.09%
Current Drawdown Current decline from peak	-0.68%	-1.51%	+0.83%
Average Drawdown Average peak-to-trough decline	-12.82%	-16.27%	+3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	4.68%	-1.98%

Volatility

^OEX vs. VIGIX - Volatility Comparison

The current volatility for S&P 100 Index (^OEX) is 3.23%, while Vanguard Growth Index Fund Institutional Shares (VIGIX) has a volatility of 3.92%. This indicates that ^OEX experiences smaller price fluctuations and is considered to be less risky than VIGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^OEX	VIGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	3.92%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	12.17%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	15.92%	-3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	22.35%	-4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	21.59%	-3.12%

Frequently Asked Questions

Can I hold both ^OEX and VIGIX in my portfolio?

With a correlation of 0.97, ^OEX and VIGIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ^OEX or VIGIX?

VIGIX has higher volatility (3.92%) compared to ^OEX (3.23%). In terms of maximum drawdown, ^OEX dropped -61.31% vs VIGIX's -56.95%.

Which has better risk-adjusted returns?

^OEX currently has the higher Sharpe Ratio (2.27 vs 1.76), 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.