IVOG vs. AIVSX

Last updated Jun 23, 2026

IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and AIVSX (American Funds Investment Company of America Class A) are both funds - IVOG is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while AIVSX is a Large Cap Blend Equities fund managed by American Funds. Over the past 10 years, IVOG returned 12.09%/yr vs 14.17%/yr for AIVSX. Their correlation of 0.84 suggests significant overlap in exposure. IVOG charges 0.15%/yr vs 0.55%/yr for AIVSX.

Performance

IVOG vs. AIVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) and American Funds Investment Company of America Class A (AIVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOG achieves a 20.66% return, which is significantly higher than AIVSX's 9.70% return. Over the past 10 years, IVOG has underperformed AIVSX with an annualized return of 12.09%, while AIVSX has yielded a comparatively higher 14.17% annualized return.

IVOG

• 1D: 0.63%
• 1M: 4.20%
• YTD: 20.66%
• 6M: 17.87%
• 1Y: 32.69%
• 3Y*: 18.41%
• 5Y*: 8.84%
• 10Y*: 12.09%

AIVSX

• 1D: 1.34%
• 1M: 0.89%
• YTD: 9.70%
• 6M: 9.64%
• 1Y: 24.69%
• 3Y*: 22.72%
• 5Y*: 15.04%
• 10Y*: 14.17%

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

IVOG vs. AIVSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	20.66%	7.34%	15.62%	17.36%	-19.08%	18.85%	22.60%	26.13%	-10.58%	19.90%
AIVSX American Funds Investment Company of America Class A	9.70%	20.47%	24.90%	28.56%	-15.50%	25.10%	14.47%	24.10%	-8.21%	19.54%

Correlation

The correlation between IVOG and AIVSX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.84

The correlation between IVOG and AIVSX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.

Return for Risk

IVOG vs. AIVSX — Risk / Return Rank

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

IVOG

IVOG Risk / Return Rank: 62
IVOG Sharpe Ratio Rank: 57
IVOG Sortino Ratio Rank: 58
IVOG Omega Ratio Rank: 54
IVOG Calmar Ratio Rank: 70
IVOG Martin Ratio Rank: 73

AIVSX

AIVSX Risk / Return Rank: 47
AIVSX Sharpe Ratio Rank: 47
AIVSX Sortino Ratio Rank: 42
AIVSX Omega Ratio Rank: 45
AIVSX Calmar Ratio Rank: 44
AIVSX Martin Ratio Rank: 57

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.

IVOG vs. AIVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) and American Funds Investment Company of America Class A (AIVSX). 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.

	IVOG	AIVSX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.85	+0.02
Sortino ratio: Return per unit of downside risk	2.65	2.54	+0.11
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.39	2.42	+0.97
Martin ratio: Return relative to average drawdown	13.20	10.68	+2.52

IVOG vs. AIVSX - Sharpe Ratio Comparison

The current IVOG Sharpe Ratio is 1.87, which is comparable to the AIVSX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of IVOG and AIVSX, 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

IVOG vs. AIVSX - Drawdown Comparison

The maximum IVOG drawdown since its inception was -39.32%, smaller than the maximum AIVSX drawdown of -50.90%. Use the drawdown chart below to compare losses from any high point for IVOG and AIVSX.

Drawdown Indicators

	IVOG	AIVSX	Difference
Max Drawdown Largest peak-to-trough decline	-39.32%	-50.90%	+11.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.69%	-10.08%	+0.39%
Max Drawdown (3Y) Largest decline over 3 years	-25.61%	-17.40%	-8.21%
Max Drawdown (5Y) Largest decline over 5 years	-29.31%	-24.31%	-5.00%
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	-31.09%	-8.23%
Current Drawdown Current decline from peak	0.00%	-1.09%	+1.09%
Average Drawdown Average peak-to-trough decline	-5.87%	-5.90%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.28%	+0.20%

Volatility

IVOG vs. AIVSX - Volatility Comparison

Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a higher volatility of 5.53% compared to American Funds Investment Company of America Class A (AIVSX) at 5.04%. This indicates that IVOG's price experiences larger fluctuations and is considered to be riskier than AIVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOG	AIVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	5.04%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	13.79%	10.60%	+3.19%
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	13.18%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.69%	16.12%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	16.63%	+4.01%

IVOG vs. AIVSX - Expense Ratio Comparison

IVOG has a 0.15% expense ratio, which is lower than AIVSX's 0.55% expense ratio.

Dividends

IVOG vs. AIVSX - Dividend Comparison

IVOG's dividend yield for the trailing twelve months is around 0.53%, less than AIVSX's 9.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIVSX American Funds Investment Company of America Class A	9.14%	10.60%	9.29%	4.96%	6.12%	6.94%	1.65%	6.15%	9.61%	7.08%	5.48%	8.95%
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	0.53%	0.64%	0.79%	1.15%	1.05%	0.47%	0.74%	1.17%	1.01%	0.93%	1.11%	1.04%

Frequently Asked Questions

Can I hold both IVOG and AIVSX in my portfolio?

IVOG and AIVSX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOG or AIVSX?

IVOG has higher volatility (5.53%) compared to AIVSX (5.04%). In terms of maximum drawdown, IVOG dropped -39.32% vs AIVSX's -50.90%.

Which has better risk-adjusted returns?

IVOG currently has the higher Sharpe Ratio (1.86 vs 1.85), 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.