ATGAX vs. VMCIX

Last updated Jun 25, 2026

ATGAX (Aquila Opportunity Growth Fund) and VMCIX (Vanguard Mid-Cap Index Fund Institutional Shares) are both Mid Cap Blend Equities funds. Their correlation of 0.87 suggests significant overlap in exposure. ATGAX charges 1.50%/yr vs 0.04%/yr for VMCIX.

Performance

ATGAX vs. VMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aquila Opportunity Growth Fund (ATGAX) and Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ATGAX

• 1D: -2.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VMCIX

• 1D: -0.87%
• 1M: 2.14%
• YTD: 10.37%
• 6M: 8.75%
• 1Y: 16.54%
• 3Y*: 16.26%
• 5Y*: 7.72%
• 10Y*: 11.92%

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

ATGAX vs. VMCIX - Yearly Performance Comparison

	2026 (YTD)
ATGAX Aquila Opportunity Growth Fund	1.27%
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	1.78%

Correlation

The correlation between ATGAX and VMCIX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.87

Return for Risk

ATGAX vs. VMCIX — Risk / Return Rank

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

ATGAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VMCIX

VMCIX Risk / Return Rank: 32
VMCIX Sharpe Ratio Rank: 29
VMCIX Sortino Ratio Rank: 28
VMCIX Omega Ratio Rank: 26
VMCIX Calmar Ratio Rank: 37
VMCIX Martin Ratio Rank: 41

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.

ATGAX vs. VMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aquila Opportunity Growth Fund (ATGAX) and Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX). 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.

	ATGAX	VMCIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.39	—
Sortino ratio: Return per unit of downside risk	—	1.99	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	2.19	—
Martin ratio: Return relative to average drawdown	—	8.22	—

Drawdowns

ATGAX vs. VMCIX - Drawdown Comparison

The maximum ATGAX drawdown since its inception was -3.70%, smaller than the maximum VMCIX drawdown of -58.86%. Use the drawdown chart below to compare losses from any high point for ATGAX and VMCIX.

Drawdown Indicators

	ATGAX	VMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-3.70%	-58.86%	+55.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.30%	—
Current Drawdown Current decline from peak	-2.09%	-1.30%	-0.79%
Average Drawdown Average peak-to-trough decline	-1.00%	-7.96%	+6.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.16%	—

Volatility

Volatility by Period

	ATGAX	VMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.51%	12.81%	+7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.51%	17.70%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.51%	18.91%	+1.60%

ATGAX vs. VMCIX - Expense Ratio Comparison

ATGAX has a 1.50% expense ratio, which is higher than VMCIX's 0.04% expense ratio.

Dividends

ATGAX vs. VMCIX - Dividend Comparison

ATGAX has not paid dividends to shareholders, while VMCIX's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	1.36%	1.52%	1.49%	1.51%	1.60%	1.12%	1.45%	1.48%	1.83%	1.36%	1.46%	1.48%

Frequently Asked Questions

Can I hold both ATGAX and VMCIX in my portfolio?

ATGAX and VMCIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.