CFIMX vs. VPMAX

Last updated Apr 1, 2026

Compare and contrast key facts about Clipper Fund (CFIMX) and Vanguard PRIMECAP Fund Admiral Shares (VPMAX).

CFIMX is managed by Clipper Fund. It was launched on Feb 29, 1984. VPMAX is managed by Vanguard. It was launched on Nov 12, 2001.

Performance

CFIMX vs. VPMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clipper Fund (CFIMX) and Vanguard PRIMECAP Fund Admiral Shares (VPMAX). The values are adjusted to include any dividend payments, if applicable.

CFIMX vs. VPMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CFIMX Clipper Fund	-3.84%	27.39%	19.40%	31.59%	-18.80%	17.76%	9.96%	29.66%	-12.90%	17.69%
VPMAX Vanguard PRIMECAP Fund Admiral Shares	-5.86%	54.11%	13.30%	28.25%	-15.16%	21.72%	17.23%	27.88%	-1.93%	28.28%

Returns By Period

In the year-to-date period, CFIMX achieves a -3.84% return, which is significantly higher than VPMAX's -5.86% return. Over the past 10 years, CFIMX has underperformed VPMAX with an annualized return of 12.37%, while VPMAX has yielded a comparatively higher 16.53% annualized return.

CFIMX

• 1D: 0.26%
• 1M: -6.54%
• YTD: -3.84%
• 6M: 4.67%
• 1Y: 20.84%
• 3Y*: 22.64%
• 5Y*: 10.50%
• 10Y*: 12.37%

VPMAX

• 1D: -1.19%
• 1M: -10.43%
• YTD: -5.86%
• 6M: 22.85%
• 1Y: 46.58%
• 3Y*: 25.38%
• 5Y*: 14.62%
• 10Y*: 16.53%

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

CFIMX vs. VPMAX - Expense Ratio Comparison

CFIMX has a 0.71% expense ratio, which is higher than VPMAX's 0.31% expense ratio.

CFIMX

Clipper Fund

VPMAX

Vanguard PRIMECAP Fund Admiral Shares

Return for Risk

CFIMX vs. VPMAX — Risk / Return Rank

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

CFIMX

CFIMX Risk / Return Rank: 69
CFIMX Sharpe Ratio Rank: 68
CFIMX Sortino Ratio Rank: 73
CFIMX Omega Ratio Rank: 68
CFIMX Calmar Ratio Rank: 67
CFIMX Martin Ratio Rank: 71

VPMAX

VPMAX Risk / Return Rank: 93
VPMAX Sharpe Ratio Rank: 85
VPMAX Sortino Ratio Rank: 95
VPMAX Omega Ratio Rank: 93
VPMAX Calmar Ratio Rank: 95
VPMAX Martin Ratio Rank: 96

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.

CFIMX vs. VPMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clipper Fund (CFIMX) and Vanguard PRIMECAP Fund Admiral Shares (VPMAX). 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.

	CFIMX	VPMAX	Difference
Sharpe ratio Return per unit of total volatility	1.20	1.64	-0.43
Sortino ratio Return per unit of downside risk	1.80	3.07	-1.27
Omega ratio Gain probability vs. loss probability	1.26	1.44	-0.19
Calmar ratio Return relative to maximum drawdown	1.54	3.21	-1.67
Martin ratio Return relative to average drawdown	6.69	14.01	-7.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CFIMX vs. VPMAX - Sharpe Ratio Comparison

The current CFIMX Sharpe Ratio is 1.20, which is comparable to the VPMAX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of CFIMX and VPMAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CFIMX	VPMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	1.64	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.73	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.83	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.61	0.00

Correlation

The correlation between CFIMX and VPMAX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CFIMX vs. VPMAX - Dividend Comparison

CFIMX's dividend yield for the trailing twelve months is around 8.64%, less than VPMAX's 33.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFIMX Clipper Fund	8.64%	8.31%	13.43%	6.10%	5.67%	13.79%	2.45%	1.46%	10.12%	5.95%	10.43%	0.71%
VPMAX Vanguard PRIMECAP Fund Admiral Shares	33.83%	31.85%	6.71%	7.24%	9.94%	10.18%	9.82%	7.23%	8.43%	4.52%	5.13%	5.99%

Drawdowns

CFIMX vs. VPMAX - Drawdown Comparison

The maximum CFIMX drawdown since its inception was -66.07%, which is greater than VPMAX's maximum drawdown of -48.32%. Use the drawdown chart below to compare losses from any high point for CFIMX and VPMAX.

Drawdown Indicators

	CFIMX	VPMAX	Difference
Max Drawdown Largest peak-to-trough decline	-66.07%	-48.32%	-17.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-13.75%	+2.56%
Max Drawdown (5Y) Largest decline over 5 years	-30.80%	-25.21%	-5.59%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-32.65%	-4.59%
Current Drawdown Current decline from peak	-8.01%	-11.72%	+3.71%
Average Drawdown Average peak-to-trough decline	-7.89%	-6.61%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.15%	-0.43%

Volatility

CFIMX vs. VPMAX - Volatility Comparison

The current volatility for Clipper Fund (CFIMX) is 4.01%, while Vanguard PRIMECAP Fund Admiral Shares (VPMAX) has a volatility of 5.57%. This indicates that CFIMX experiences smaller price fluctuations and is considered to be less risky than VPMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CFIMX	VPMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	5.57%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	9.64%	21.87%	-12.23%
Volatility (1Y) Calculated over the trailing 1-year period	18.07%	28.87%	-10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	20.12%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	20.09%	-0.46%