ASVIX vs. VSIIX

Last updated Jun 24, 2026

ASVIX (American Century Small Cap Value Fund) and VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, ASVIX returned 10.70%/yr vs 11.04%/yr for VSIIX. With a 0.96 correlation, they move nearly in lockstep. ASVIX charges 1.09%/yr vs 0.06%/yr for VSIIX.

Performance

ASVIX vs. VSIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Small Cap Value Fund (ASVIX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASVIX achieves a 17.08% return, which is significantly higher than VSIIX's 13.42% return. Both investments have delivered pretty close results over the past 10 years, with ASVIX having a 10.70% annualized return and VSIIX not far ahead at 11.04%.

ASVIX

• 1D: -0.19%
• 1M: 2.78%
• YTD: 17.08%
• 6M: 15.90%
• 1Y: 22.79%
• 3Y*: 11.30%
• 5Y*: 4.83%
• 10Y*: 10.70%

VSIIX

• 1D: 0.19%
• 1M: 2.68%
• YTD: 13.42%
• 6M: 11.91%
• 1Y: 26.44%
• 3Y*: 16.95%
• 5Y*: 8.88%
• 10Y*: 11.04%

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

ASVIX vs. VSIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASVIX American Century Small Cap Value Fund	17.08%	-3.39%	7.12%	16.09%	-14.48%	37.20%	8.94%	33.51%	-16.99%	10.31%
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	13.42%	9.10%	11.37%	17.06%	-9.31%	28.12%	5.81%	22.81%	-12.24%	11.80%

Correlation

The correlation between ASVIX and VSIIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 1999	0.96

The correlation between ASVIX and VSIIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

ASVIX vs. VSIIX — Risk / Return Rank

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

ASVIX

ASVIX Risk / Return Rank: 26
ASVIX Sharpe Ratio Rank: 25
ASVIX Sortino Ratio Rank: 27
ASVIX Omega Ratio Rank: 24
ASVIX Calmar Ratio Rank: 31
ASVIX Martin Ratio Rank: 24

VSIIX

VSIIX Risk / Return Rank: 53
VSIIX Sharpe Ratio Rank: 45
VSIIX Sortino Ratio Rank: 48
VSIIX Omega Ratio Rank: 40
VSIIX Calmar Ratio Rank: 73
VSIIX Martin Ratio Rank: 59

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.

ASVIX vs. VSIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Small Cap Value Fund (ASVIX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). 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.

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.

	ASVIX	VSIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.82	-0.50
Sortino ratio: Return per unit of downside risk	1.99	2.67	-0.68
Omega ratio: Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	1.97	3.15	-1.18
Martin ratio: Return relative to average drawdown	5.35	11.18	-5.83

ASVIX vs. VSIIX - Sharpe Ratio Comparison

The current ASVIX Sharpe Ratio is 1.32, which is comparable to the VSIIX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ASVIX and VSIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASVIX vs. VSIIX - Drawdown Comparison

The maximum ASVIX drawdown since its inception was -55.10%, smaller than the maximum VSIIX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for ASVIX and VSIIX.

Drawdown Indicators

	ASVIX	VSIIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.10%	-62.05%	+6.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-8.87%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-27.25%	-24.09%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-27.25%	-24.09%	-3.16%
Max Drawdown (10Y) Largest decline over 10 years	-43.50%	-45.38%	+1.88%
Current Drawdown Current decline from peak	-0.67%	-1.02%	+0.35%
Average Drawdown Average peak-to-trough decline	-7.92%	-8.50%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	2.49%	+2.00%

Volatility

ASVIX vs. VSIIX - Volatility Comparison

American Century Small Cap Value Fund (ASVIX) has a higher volatility of 4.28% compared to Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) at 4.01%. This indicates that ASVIX's price experiences larger fluctuations and is considered to be riskier than VSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASVIX	VSIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	4.01%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	11.92%	10.66%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	15.35%	+2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.94%	19.73%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.31%	21.84%	+1.47%

ASVIX vs. VSIIX - Expense Ratio Comparison

ASVIX has a 1.09% expense ratio, which is higher than VSIIX's 0.06% expense ratio.

Dividends

ASVIX vs. VSIIX - Dividend Comparison

ASVIX's dividend yield for the trailing twelve months is around 11.94%, more than VSIIX's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASVIX American Century Small Cap Value Fund	11.94%	14.08%	6.96%	1.00%	3.86%	7.32%	0.35%	2.41%	20.02%	14.39%	5.29%	14.05%
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	1.74%	1.96%	1.99%	2.10%	2.04%	1.76%	1.69%	2.07%	2.36%	1.80%	1.77%	1.99%

Frequently Asked Questions

Can I hold both ASVIX and VSIIX in my portfolio?

With a correlation of 0.93, ASVIX and VSIIX 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, ASVIX or VSIIX?

ASVIX has higher volatility (4.28%) compared to VSIIX (4.01%). In terms of maximum drawdown, ASVIX dropped -55.10% vs VSIIX's -62.05%.

Which has better risk-adjusted returns?

VSIIX currently has the higher Sharpe Ratio (1.82 vs 1.32), 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.