MVALX vs. VVIAX

Last updated Jun 23, 2026

MVALX (Meridian Contrarian Fund) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both mutual funds - MVALX is a Mid Cap Blend Equities fund managed by Meridian, while VVIAX is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index. Over the past 10 years, MVALX returned 13.58%/yr vs 12.66%/yr for VVIAX. Their correlation of 0.86 suggests significant overlap in exposure. MVALX charges 1.12%/yr vs 0.05%/yr for VVIAX.

Performance

MVALX vs. VVIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Meridian Contrarian Fund (MVALX) and Vanguard Value Index Fund Admiral Shares (VVIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVALX achieves a 16.89% return, which is significantly higher than VVIAX's 13.99% return. Over the past 10 years, MVALX has outperformed VVIAX with an annualized return of 13.58%, while VVIAX has yielded a comparatively lower 12.66% annualized return.

MVALX

• 1D: 1.66%
• 1M: 4.25%
• YTD: 16.89%
• 6M: 14.57%
• 1Y: 32.87%
• 3Y*: 15.35%
• 5Y*: 8.90%
• 10Y*: 13.58%

VVIAX

• 1D: 0.25%
• 1M: 2.70%
• YTD: 13.99%
• 6M: 13.49%
• 1Y: 27.56%
• 3Y*: 17.73%
• 5Y*: 12.65%
• 10Y*: 12.66%

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

MVALX vs. VVIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVALX Meridian Contrarian Fund	16.89%	17.43%	9.73%	12.40%	-16.67%	26.66%	23.75%	23.66%	-7.85%	24.88%
VVIAX Vanguard Value Index Fund Admiral Shares	13.99%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%

Correlation

The correlation between MVALX and VVIAX 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	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	0.86

The correlation between MVALX and VVIAX shifts across timeframes, from 0.72 (3 years) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MVALX vs. VVIAX — Risk / Return Rank

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

MVALX

MVALX Risk / Return Rank: 46
MVALX Sharpe Ratio Rank: 40
MVALX Sortino Ratio Rank: 38
MVALX Omega Ratio Rank: 33
MVALX Calmar Ratio Rank: 64
MVALX Martin Ratio Rank: 54

VVIAX

VVIAX Risk / Return Rank: 87
VVIAX Sharpe Ratio Rank: 89
VVIAX Sortino Ratio Rank: 87
VVIAX Omega Ratio Rank: 81
VVIAX Calmar Ratio Rank: 90
VVIAX Martin Ratio Rank: 90

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.

MVALX vs. VVIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Meridian Contrarian Fund (MVALX) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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.

	MVALX	VVIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.70	-0.99
Sortino ratio: Return per unit of downside risk	2.41	3.83	-1.43
Omega ratio: Gain probability vs. loss probability	1.28	1.48	-0.20
Calmar ratio: Return relative to maximum drawdown	2.93	4.39	-1.45
Martin ratio: Return relative to average drawdown	10.24	16.50	-6.26

MVALX vs. VVIAX - Sharpe Ratio Comparison

The current MVALX Sharpe Ratio is 1.71, which is lower than the VVIAX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of MVALX and VVIAX, 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

MVALX vs. VVIAX - Drawdown Comparison

The maximum MVALX drawdown since its inception was -50.65%, smaller than the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for MVALX and VVIAX.

Drawdown Indicators

	MVALX	VVIAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.65%	-59.32%	+8.67%
Max Drawdown (1Y) Largest decline over 1 year	-11.53%	-6.36%	-5.17%
Max Drawdown (3Y) Largest decline over 3 years	-24.80%	-14.39%	-10.41%
Max Drawdown (5Y) Largest decline over 5 years	-24.80%	-17.14%	-7.66%
Max Drawdown (10Y) Largest decline over 10 years	-42.06%	-36.80%	-5.26%
Current Drawdown Current decline from peak	-0.58%	-0.75%	+0.17%
Average Drawdown Average peak-to-trough decline	-7.11%	-9.60%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	1.69%	+1.58%

Volatility

MVALX vs. VVIAX - Volatility Comparison

Meridian Contrarian Fund (MVALX) has a higher volatility of 7.23% compared to Vanguard Value Index Fund Admiral Shares (VVIAX) at 3.31%. This indicates that MVALX's price experiences larger fluctuations and is considered to be riskier than VVIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVALX	VVIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	3.31%	+3.92%
Volatility (6M) Calculated over the trailing 6-month period	15.27%	7.86%	+7.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	10.34%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.85%	13.93%	+6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.50%	16.75%	+4.75%

MVALX vs. VVIAX - Expense Ratio Comparison

MVALX has a 1.12% expense ratio, which is higher than VVIAX's 0.05% expense ratio.

Dividends

MVALX vs. VVIAX - Dividend Comparison

MVALX's dividend yield for the trailing twelve months is around 10.96%, more than VVIAX's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVALX Meridian Contrarian Fund	10.96%	12.81%	4.26%	5.45%	11.45%	14.16%	4.93%	7.94%	25.52%	10.53%	0.52%	16.76%
VVIAX Vanguard Value Index Fund Admiral Shares	1.82%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both MVALX and VVIAX in my portfolio?

MVALX and VVIAX 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, MVALX or VVIAX?

MVALX has higher volatility (7.23%) compared to VVIAX (3.31%). In terms of maximum drawdown, MVALX dropped -50.65% vs VVIAX's -59.32%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.70 vs 1.71), 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.