DSPIX vs. VSTSX

Last updated Jun 23, 2026

DSPIX (BNY Mellon Institutional S&P 500 Stock Index Fund) and VSTSX (Vanguard Total Stock Market Index Fund Institutional Select Shares) are both mutual funds - DSPIX is a S&P 500 fund tracking the S&P 500 Index, while VSTSX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 5 years, DSPIX returned 13.87%/yr vs 12.90%/yr for VSTSX. With a 0.99 correlation, they move nearly in lockstep. DSPIX charges 0.20%/yr vs 0.01%/yr for VSTSX.

Performance

DSPIX vs. VSTSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Vanguard Total Stock Market Index Fund Institutional Select Shares (VSTSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSPIX achieves a 10.09% return, which is significantly lower than VSTSX's 10.73% return.

DSPIX

• 1D: 1.07%
• 1M: 0.45%
• YTD: 10.09%
• 6M: 9.73%
• 1Y: 27.13%
• 3Y*: 20.80%
• 5Y*: 13.87%
• 10Y*: 15.00%

VSTSX

• 1D: 1.14%
• 1M: 0.90%
• YTD: 10.73%
• 6M: 9.95%
• 1Y: 27.60%
• 3Y*: 20.70%
• 5Y*: 12.90%
• 10Y*: —

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

DSPIX vs. VSTSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund	10.09%	17.81%	24.40%	26.36%	-18.51%	28.64%	14.18%	31.31%	-4.36%	21.59%
VSTSX Vanguard Total Stock Market Index Fund Institutional Select Shares	10.73%	17.16%	23.27%	26.54%	-19.49%	25.75%	21.02%	30.81%	-5.15%	20.21%

Correlation

The correlation between DSPIX and VSTSX is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.99

The correlation between DSPIX and VSTSX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

DSPIX vs. VSTSX — Risk / Return Rank

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

DSPIX

DSPIX Risk / Return Rank: 66
DSPIX Sharpe Ratio Rank: 64
DSPIX Sortino Ratio Rank: 58
DSPIX Omega Ratio Rank: 60
DSPIX Calmar Ratio Rank: 68
DSPIX Martin Ratio Rank: 78

VSTSX

VSTSX Risk / Return Rank: 65
VSTSX Sharpe Ratio Rank: 63
VSTSX Sortino Ratio Rank: 57
VSTSX Omega Ratio Rank: 58
VSTSX Calmar Ratio Rank: 70
VSTSX Martin Ratio Rank: 79

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.

DSPIX vs. VSTSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Vanguard Total Stock Market Index Fund Institutional Select Shares (VSTSX). 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.

	DSPIX	VSTSX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.14	+0.02
Sortino ratio: Return per unit of downside risk	2.92	2.91	+0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	3.03	3.08	-0.05
Martin ratio: Return relative to average drawdown	13.65	13.80	-0.15

DSPIX vs. VSTSX - Sharpe Ratio Comparison

The current DSPIX Sharpe Ratio is 2.16, which is comparable to the VSTSX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of DSPIX and VSTSX, 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

DSPIX vs. VSTSX - Drawdown Comparison

The maximum DSPIX drawdown since its inception was -55.32%, which is greater than VSTSX's maximum drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for DSPIX and VSTSX.

Drawdown Indicators

	DSPIX	VSTSX	Difference
Max Drawdown Largest peak-to-trough decline	-55.32%	-34.97%	-20.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-8.92%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.81%	-19.36%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-24.62%	-25.35%	+0.73%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	—	—
Current Drawdown Current decline from peak	-1.38%	-1.13%	-0.25%
Average Drawdown Average peak-to-trough decline	-9.27%	-4.88%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.99%	-0.02%

Volatility

DSPIX vs. VSTSX - Volatility Comparison

BNY Mellon Institutional S&P 500 Stock Index Fund (DSPIX) and Vanguard Total Stock Market Index Fund Institutional Select Shares (VSTSX) have volatilities of 4.76% and 4.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSPIX	VSTSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.88%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	10.11%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	12.80%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	17.46%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	18.76%	-0.69%

DSPIX vs. VSTSX - Expense Ratio Comparison

DSPIX has a 0.20% expense ratio, which is higher than VSTSX's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DSPIX vs. VSTSX - Dividend Comparison

DSPIX's dividend yield for the trailing twelve months is around 30.74%, more than VSTSX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSPIX BNY Mellon Institutional S&P 500 Stock Index Fund	30.74%	33.86%	27.60%	27.46%	18.33%	12.91%	1.15%	5.01%	6.33%	2.53%	2.91%	2.63%
VSTSX Vanguard Total Stock Market Index Fund Institutional Select Shares	1.04%	1.13%	1.27%	1.43%	1.67%	1.23%	1.44%	1.79%	2.07%	1.74%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DSPIX and VSTSX in my portfolio?

With a correlation of 0.99, DSPIX and VSTSX 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, DSPIX or VSTSX?

VSTSX has higher volatility (4.88%) compared to DSPIX (4.76%). In terms of maximum drawdown, DSPIX dropped -55.32% vs VSTSX's -34.97%.

Which has better risk-adjusted returns?

DSPIX currently has the higher Sharpe Ratio (2.16 vs 2.14), 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.