IVOG vs. MXXIX

Last updated Jun 3, 2026

IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and MXXIX (Marsico Midcap Growth Focus Fund) are both funds - IVOG is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while MXXIX is a Mid Cap Growth Equities fund managed by Marsico Investment Fund. Over the past 10 years, IVOG returned 11.58%/yr vs 16.90%/yr for MXXIX. Their correlation of 0.87 suggests significant overlap in exposure. IVOG charges 0.15%/yr vs 1.33%/yr for MXXIX.

Performance

IVOG vs. MXXIX - 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 Marsico Midcap Growth Focus Fund (MXXIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOG achieves a 18.93% return, which is significantly higher than MXXIX's 14.23% return. Over the past 10 years, IVOG has underperformed MXXIX with an annualized return of 11.58%, while MXXIX has yielded a comparatively higher 16.90% annualized return.

IVOG

• 1D: 0.64%
• 1M: 5.56%
• YTD: 18.93%
• 6M: 19.48%
• 1Y: 31.58%
• 3Y*: 17.95%
• 5Y*: 8.75%
• 10Y*: 11.58%

MXXIX

• 1D: 0.36%
• 1M: 3.42%
• YTD: 14.23%
• 6M: 15.79%
• 1Y: 29.42%
• 3Y*: 32.30%
• 5Y*: 13.09%
• 10Y*: 16.90%

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

IVOG vs. MXXIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	18.93%	7.34%	15.62%	17.36%	-19.08%	18.85%	22.60%	26.13%	-10.58%	19.90%
MXXIX Marsico Midcap Growth Focus Fund	14.23%	26.09%	42.95%	21.71%	-31.84%	12.04%	45.34%	29.88%	1.76%	30.05%

Correlation

The correlation between IVOG and MXXIX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.87

The correlation between IVOG and MXXIX has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

Return for Risk

IVOG vs. MXXIX — Risk / Return Rank

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

IVOG

IVOG Risk / Return Rank: 58
IVOG Sharpe Ratio Rank: 53
IVOG Sortino Ratio Rank: 55
IVOG Omega Ratio Rank: 52
IVOG Calmar Ratio Rank: 64
IVOG Martin Ratio Rank: 67

MXXIX

MXXIX Risk / Return Rank: 33
MXXIX Sharpe Ratio Rank: 29
MXXIX Sortino Ratio Rank: 28
MXXIX Omega Ratio Rank: 26
MXXIX Calmar Ratio Rank: 40
MXXIX Martin Ratio Rank: 43

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. MXXIX - 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 Marsico Midcap Growth Focus Fund (MXXIX). 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.

	IVOG	MXXIX	Difference
Sharpe ratio Return per unit of total volatility	1.85	1.58	+0.27
Sortino ratio Return per unit of downside risk	2.64	2.23	+0.41
Omega ratio Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio Return relative to maximum drawdown	3.20	2.45	+0.76
Martin ratio Return relative to average drawdown	12.59	9.29	+3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVOG vs. MXXIX - Sharpe Ratio Comparison

The current IVOG Sharpe Ratio is 1.85, which is comparable to the MXXIX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IVOG and MXXIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVOG	MXXIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.58	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.58	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.78	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.41	+0.23

Drawdowns

IVOG vs. MXXIX - Drawdown Comparison

The maximum IVOG drawdown since its inception was -39.32%, smaller than the maximum MXXIX drawdown of -62.49%. Use the drawdown chart below to compare losses from any high point for IVOG and MXXIX.

Drawdown Indicators

	IVOG	MXXIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.32%	-62.49%	+23.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.69%	-13.07%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	-25.61%	-20.05%	-5.56%
Max Drawdown (5Y) Largest decline over 5 years	-29.31%	-40.59%	+11.28%
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	-40.59%	+1.27%
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-5.88%	-18.37%	+12.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	3.44%	-0.98%

Volatility

IVOG vs. MXXIX - Volatility Comparison

The current volatility for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) is 5.19%, while Marsico Midcap Growth Focus Fund (MXXIX) has a volatility of 6.29%. This indicates that IVOG experiences smaller price fluctuations and is considered to be less risky than MXXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOG	MXXIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	6.29%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	13.21%	15.46%	-2.25%
Volatility (1Y) Calculated over the trailing 1-year period	17.15%	19.32%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.61%	22.77%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	21.81%	-1.22%

IVOG vs. MXXIX - Expense Ratio Comparison

IVOG has a 0.15% expense ratio, which is lower than MXXIX's 1.33% expense ratio.

Dividends

IVOG vs. MXXIX - Dividend Comparison

IVOG's dividend yield for the trailing twelve months is around 0.54%, less than MXXIX's 10.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	0.54%	0.64%	0.79%	1.15%	1.05%	0.47%	0.74%	1.17%	1.01%	0.93%	1.11%	1.04%
MXXIX Marsico Midcap Growth Focus Fund	10.46%	11.95%	9.18%	1.24%	0.00%	14.22%	2.83%	3.26%	5.37%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVOG and MXXIX in my portfolio?

IVOG and MXXIX have a correlation of 0.79, 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 MXXIX?

MXXIX has higher volatility (6.29%) compared to IVOG (5.19%). In terms of maximum drawdown, IVOG dropped -39.32% vs MXXIX's -62.49%.

Which has better risk-adjusted returns?

IVOG currently has the higher Sharpe Ratio (1.85 vs 1.58), 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.