FEIFX vs. VIVIX

Last updated Aug 1, 2026

FEIFX (Franklin Equity Income Fund) and VIVIX (Vanguard Value Index Fund Institutional Shares) are both mutual funds - FEIFX is a Dividend fund managed by Franklin Templeton, while VIVIX is a Large Cap Value Equities fund tracking the CRSP U.S. Large Cap Value Index. Over the past 10 years, FEIFX returned 13.58%/yr vs 12.54%/yr for VIVIX. Their 0.96 correlation means they have historically moved very closely together. FEIFX charges 0.58%/yr vs 0.03%/yr for VIVIX.

Performance

FEIFX vs. VIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Equity Income Fund (FEIFX) and Vanguard Value Index Fund Institutional Shares (VIVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEIFX achieves a 12.90% return, which is significantly lower than VIVIX's 16.66% return. Over the past 10 years, FEIFX has outperformed VIVIX with an annualized return of 13.58%, while VIVIX has yielded a comparatively lower 12.54% annualized return.

FEIFX

• 1D: 0.95%
• 1M: 2.00%
• 6M: 8.75%
• YTD: 12.90%
• 1Y: 22.32%
• 3Y*: 16.58%
• 5Y*: 14.07%
• 10Y*: 13.58%
• ALL TIME*: 13.01%

VIVIX

• 1D: 0.33%
• 1M: 0.58%
• 6M: 11.55%
• YTD: 16.66%
• 1Y: 28.24%
• 3Y*: 17.13%
• 5Y*: 12.35%
• 10Y*: 12.54%
• ALL TIME*: 8.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEIFX Franklin Equity Income Fund	$0.00	$0.00	$0.00
VIVIX Vanguard Value Index Fund Institutional Shares	$0.00	$0.00	$0.00

FEIFX vs. VIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEIFX Franklin Equity Income Fund	12.90%	16.58%	18.44%	9.30%	-6.64%	41.33%	5.79%	29.55%	-4.55%	16.29%
VIVIX Vanguard Value Index Fund Institutional Shares	16.66%	15.30%	15.99%	9.23%	-2.05%	26.50%	2.30%	25.83%	-5.44%	17.14%

Correlation

The correlation between FEIFX and VIVIX is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.96

The correlation between FEIFX and VIVIX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Return for Risk

FEIFX vs. VIVIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEIFX

FEIFX Risk / Return Rank: 84
FEIFX Sharpe Ratio Rank: 83
FEIFX Sortino Ratio Rank: 81
FEIFX Omega Ratio Rank: 78
FEIFX Calmar Ratio Rank: 87
FEIFX Martin Ratio Rank: 89

VIVIX

VIVIX Risk / Return Rank: 93
VIVIX Sharpe Ratio Rank: 95
VIVIX Sortino Ratio Rank: 93
VIVIX Omega Ratio Rank: 88
VIVIX Calmar Ratio Rank: 95
VIVIX Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEIFX vs. VIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Equity Income Fund (FEIFX) and Vanguard Value Index Fund Institutional Shares (VIVIX). 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.

	FEIFX	VIVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.53	-0.49
Sortino ratio: Return per unit of downside risk	2.89	3.61	-0.72
Omega ratio: Gain probability vs. loss probability	1.36	1.45	-0.09
Calmar ratio: Return relative to maximum drawdown	3.15	4.11	-0.96
Martin ratio: Return relative to average drawdown	12.42	15.86	-3.44

FEIFX vs. VIVIX - Sharpe Ratio Comparison

The current FEIFX Sharpe Ratio is 2.04, which is comparable to the VIVIX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FEIFX and VIVIX, 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

FEIFX vs. VIVIX - Drawdown Comparison

The maximum FEIFX drawdown since its inception was -35.39%, smaller than the maximum VIVIX drawdown of -59.30%. Use the drawdown chart below to compare losses from any high point for FEIFX and VIVIX.

Drawdown Indicators

	FEIFX	VIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.39%	-59.30%	+23.91%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-6.36%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.69%	-14.40%	-2.29%
Max Drawdown (5Y) Largest decline over 5 years	-18.53%	-17.12%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	-35.39%	-36.80%	+1.41%
Current Drawdown Current decline from peak	-0.37%	-1.07%	+0.70%
Average Drawdown Average peak-to-trough decline	-3.49%	-9.21%	+5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.65%	-0.02%

Volatility

FEIFX vs. VIVIX - Volatility Comparison

Franklin Equity Income Fund (FEIFX) and Vanguard Value Index Fund Institutional Shares (VIVIX) have volatilities of 2.65% and 2.65%, 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

	FEIFX	VIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	2.65%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	7.78%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	9.89%	10.36%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	13.87%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	16.69%	+0.36%

FEIFX vs. VIVIX - Expense Ratio Comparison

FEIFX has a 0.58% expense ratio, which is higher than VIVIX's 0.03% expense ratio.

Dividends

FEIFX vs. VIVIX - Dividend Comparison

FEIFX's dividend yield for the trailing twelve months is around 9.00%, more than VIVIX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEIFX Franklin Equity Income Fund	9.00%	9.72%	10.73%	4.45%	5.84%	18.19%	3.28%	8.06%	7.27%	5.04%	6.70%	5.63%
VIVIX Vanguard Value Index Fund Institutional Shares	1.85%	2.04%	2.31%	2.46%	2.52%	2.15%	2.55%	2.50%	2.73%	2.30%	2.46%	2.61%

Frequently Asked Questions

Can I hold both FEIFX and VIVIX in my portfolio?

FEIFX and VIVIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEIFX or VIVIX?

VIVIX has higher volatility (2.65%) compared to FEIFX (2.65%). In terms of maximum drawdown, FEIFX dropped -35.39% vs VIVIX's -59.30%.

Which has better risk-adjusted returns?

VIVIX currently has the higher Sharpe Ratio (2.53 vs 2.04), 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.