JMIGX vs. VSGAX

Last updated Jul 11, 2026

JMIGX (Jacob Discovery Fund) and VSGAX (Vanguard Small-Cap Growth Index Fund Admiral Shares) are both Small Cap Growth Equities funds. Over the past 10 years, JMIGX returned 13.43%/yr vs 11.54%/yr for VSGAX. A 0.80 correlation means they provide meaningful diversification when combined. JMIGX charges 1.75%/yr vs 0.07%/yr for VSGAX.

Performance

JMIGX vs. VSGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jacob Discovery Fund (JMIGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMIGX achieves a -0.63% return, which is significantly lower than VSGAX's 18.65% return. Over the past 10 years, JMIGX has outperformed VSGAX with an annualized return of 13.43%, while VSGAX has yielded a comparatively lower 11.54% annualized return.

JMIGX

• 1D: 0.87%
• 1M: 4.99%
• 6M: -2.68%
• YTD: -0.63%
• 1Y: 35.08%
• 3Y*: 11.33%
• 5Y*: -4.03%
• 10Y*: 13.43%

VSGAX

• 1D: 1.51%
• 1M: 1.96%
• 6M: 11.86%
• YTD: 18.65%
• 1Y: 28.50%
• 3Y*: 16.36%
• 5Y*: 4.92%
• 10Y*: 11.54%

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

JMIGX vs. VSGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMIGX Jacob Discovery Fund	-0.63%	32.71%	10.64%	4.38%	-41.64%	14.60%	74.01%	42.89%	10.52%	28.91%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	18.65%	8.44%	14.94%	23.04%	-28.39%	5.70%	35.26%	32.76%	-5.69%	21.92%

Correlation

The correlation between JMIGX and VSGAX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.80

The correlation between JMIGX and VSGAX has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

JMIGX vs. VSGAX — Risk / Return Rank

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

JMIGX

JMIGX Risk / Return Rank: 38
JMIGX Sharpe Ratio Rank: 39
JMIGX Sortino Ratio Rank: 40
JMIGX Omega Ratio Rank: 35
JMIGX Calmar Ratio Rank: 44
JMIGX Martin Ratio Rank: 33

VSGAX

VSGAX Risk / Return Rank: 44
VSGAX Sharpe Ratio Rank: 37
VSGAX Sortino Ratio Rank: 35
VSGAX Omega Ratio Rank: 32
VSGAX Calmar Ratio Rank: 61
VSGAX Martin Ratio Rank: 56

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.

JMIGX vs. VSGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jacob Discovery Fund (JMIGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). 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.

	JMIGX	VSGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.33	+0.06
Sortino ratio: Return per unit of downside risk	2.04	1.90	+0.14
Omega ratio: Gain probability vs. loss probability	1.24	1.23	+0.01
Calmar ratio: Return relative to maximum drawdown	2.04	2.39	-0.35
Martin ratio: Return relative to average drawdown	5.82	8.87	-3.05

JMIGX vs. VSGAX - Sharpe Ratio Comparison

The current JMIGX Sharpe Ratio is 1.39, which is comparable to the VSGAX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of JMIGX and VSGAX, 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

JMIGX vs. VSGAX - Drawdown Comparison

The maximum JMIGX drawdown since its inception was -70.25%, which is greater than VSGAX's maximum drawdown of -38.70%. Use the drawdown chart below to compare losses from any high point for JMIGX and VSGAX.

Drawdown Indicators

	JMIGX	VSGAX	Difference
Max Drawdown Largest peak-to-trough decline	-70.25%	-38.70%	-31.55%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-11.37%	-6.33%
Max Drawdown (3Y) Largest decline over 3 years	-29.40%	-27.47%	-1.93%
Max Drawdown (5Y) Largest decline over 5 years	-59.40%	-38.36%	-21.04%
Max Drawdown (10Y) Largest decline over 10 years	-61.67%	-38.70%	-22.97%
Current Drawdown Current decline from peak	-29.16%	-2.29%	-26.87%
Average Drawdown Average peak-to-trough decline	-26.88%	-8.50%	-18.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	3.06%	+3.14%

Volatility

JMIGX vs. VSGAX - Volatility Comparison

The current volatility for Jacob Discovery Fund (JMIGX) is 5.33%, while Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) has a volatility of 6.21%. This indicates that JMIGX experiences smaller price fluctuations and is considered to be less risky than VSGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMIGX	VSGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.33%	6.21%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	18.22%	15.73%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	26.05%	20.45%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.19%	23.74%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.24%	23.01%	+3.23%

JMIGX vs. VSGAX - Expense Ratio Comparison

JMIGX has a 1.75% expense ratio, which is higher than VSGAX's 0.07% expense ratio.

Dividends

JMIGX vs. VSGAX - Dividend Comparison

JMIGX's dividend yield for the trailing twelve months is around 0.51%, more than VSGAX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMIGX Jacob Discovery Fund	0.51%	0.50%	0.00%	0.00%	0.00%	2.30%	6.37%	0.00%	0.00%	0.00%	0.00%	27.75%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	0.42%	0.54%	0.54%	0.67%	0.55%	0.36%	0.44%	0.57%	0.79%	0.81%	1.08%	0.98%

Frequently Asked Questions

Can I hold both JMIGX and VSGAX in my portfolio?

JMIGX and VSGAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMIGX or VSGAX?

VSGAX has higher volatility (6.21%) compared to JMIGX (5.33%). In terms of maximum drawdown, JMIGX dropped -70.25% vs VSGAX's -38.70%.

Which has better risk-adjusted returns?

JMIGX currently has the higher Sharpe Ratio (1.39 vs 1.33), 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.