NACP vs. VFIAX

Last updated Jun 3, 2026

NACP (Impact Shares NAACP Minority Empowerment ETF) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both funds - NACP is a Large Cap Growth Equities fund tracking the Morningstar Minority Empowerment Index, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, NACP returned 16.17%/yr vs 14.13%/yr for VFIAX. Their correlation of 0.92 suggests significant overlap in exposure. NACP charges 0.49%/yr vs 0.04%/yr for VFIAX.

Performance

NACP vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Impact Shares NAACP Minority Empowerment ETF (NACP) and Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NACP achieves a 22.34% return, which is significantly higher than VFIAX's 11.54% return.

NACP

• 1D: 0.74%
• 1M: 9.70%
• YTD: 22.34%
• 6M: 21.77%
• 1Y: 44.81%
• 3Y*: 27.24%
• 5Y*: 16.17%
• 10Y*: —

VFIAX

• 1D: 0.27%
• 1M: 5.23%
• YTD: 11.54%
• 6M: 11.91%
• 1Y: 29.53%
• 3Y*: 22.66%
• 5Y*: 14.13%
• 10Y*: 15.61%

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

NACP vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NACP Impact Shares NAACP Minority Empowerment ETF	22.34%	21.38%	23.93%	29.69%	-23.05%	27.62%	26.00%	30.74%	-8.79%
VFIAX Vanguard 500 Index Fund Admiral Shares	11.54%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-9.83%

Correlation

The correlation between NACP and VFIAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 20, 2018	0.92

The correlation between NACP and VFIAX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

NACP vs. VFIAX - Sectors Allocation Comparison

Sectors	NACP	VFIAX
Technology	35.8%	35.7%
Consumer Cyclical	11.1%	10.2%
Financial Services	10.6%	11.6%
Communication Services	9.8%	11.3%
Healthcare	9.2%	8.5%
Industrials	8.7%	8.3%
Energy	5.0%	3.5%
Consumer Defensive	3.6%	4.9%
Utilities	3.4%	2.4%
Basic Materials	1.5%	1.8%
Real Estate	1.3%	1.9%

Return for Risk

NACP vs. VFIAX — Risk / Return Rank

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

NACP

NACP Risk / Return Rank: 88
NACP Sharpe Ratio Rank: 91
NACP Sortino Ratio Rank: 90
NACP Omega Ratio Rank: 87
NACP Calmar Ratio Rank: 84
NACP Martin Ratio Rank: 89

VFIAX

VFIAX Risk / Return Rank: 74
VFIAX Sharpe Ratio Rank: 77
VFIAX Sortino Ratio Rank: 69
VFIAX Omega Ratio Rank: 69
VFIAX Calmar Ratio Rank: 74
VFIAX Martin Ratio Rank: 84

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.

NACP vs. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Impact Shares NAACP Minority Empowerment ETF (NACP) and Vanguard 500 Index Fund Admiral Shares (VFIAX). 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.

	NACP	VFIAX	Difference
Sharpe ratio Return per unit of total volatility	3.21	2.55	+0.66
Sortino ratio Return per unit of downside risk	4.25	3.46	+0.79
Omega ratio Gain probability vs. loss probability	1.55	1.46	+0.09
Calmar ratio Return relative to maximum drawdown	4.69	3.38	+1.31
Martin ratio Return relative to average drawdown	20.63	15.82	+4.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NACP vs. VFIAX - Sharpe Ratio Comparison

The current NACP Sharpe Ratio is 3.21, which is comparable to the VFIAX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of NACP and VFIAX, 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

	NACP	VFIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.21	2.55	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.84	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.47	+0.46

Drawdowns

NACP vs. VFIAX - Drawdown Comparison

The maximum NACP drawdown since its inception was -30.96%, smaller than the maximum VFIAX drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for NACP and VFIAX.

Drawdown Indicators

	NACP	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	-55.20%	+24.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-8.90%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-18.75%	-0.91%
Max Drawdown (5Y) Largest decline over 5 years	-27.89%	-24.53%	-3.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.75%	-9.40%	+3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.90%	+0.29%

Volatility

NACP vs. VFIAX - Volatility Comparison

Impact Shares NAACP Minority Empowerment ETF (NACP) has a higher volatility of 4.47% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 2.82%. This indicates that NACP's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NACP	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	2.82%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	11.14%	8.99%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	11.88%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	16.90%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	18.07%	+0.63%

NACP vs. VFIAX - Expense Ratio Comparison

NACP has a 0.49% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

NACP vs. VFIAX - Dividend Comparison

NACP's dividend yield for the trailing twelve months is around 0.55%, less than VFIAX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NACP Impact Shares NAACP Minority Empowerment ETF	0.55%	0.62%	2.96%	1.28%	3.48%	3.06%	1.48%	1.22%	0.71%	0.00%	0.00%	0.00%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.01%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both NACP and VFIAX in my portfolio?

With a correlation of 0.92, NACP and VFIAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NACP or VFIAX?

NACP has higher volatility (4.47%) compared to VFIAX (2.82%). In terms of maximum drawdown, NACP dropped -30.96% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

NACP currently has the higher Sharpe Ratio (3.21 vs 2.55), 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.