NLCAX vs. VIGIX

Last updated Jun 4, 2026

NLCAX (Voya Large-Cap Growth Fund) and VIGIX (Vanguard Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds. Over the past 10 years, NLCAX returned 15.83%/yr vs 18.40%/yr for VIGIX. Their correlation of 0.94 suggests significant overlap in exposure. NLCAX charges 0.97%/yr vs 0.04%/yr for VIGIX.

Performance

NLCAX vs. VIGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Large-Cap Growth Fund (NLCAX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with NLCAX having a 10.89% return and VIGIX slightly lower at 10.83%. Over the past 10 years, NLCAX has underperformed VIGIX with an annualized return of 15.83%, while VIGIX has yielded a comparatively higher 18.40% annualized return.

NLCAX

• 1D: -0.07%
• 1M: 8.72%
• YTD: 10.89%
• 6M: 9.71%
• 1Y: 27.26%
• 3Y*: 24.88%
• 5Y*: 13.35%
• 10Y*: 15.83%

VIGIX

• 1D: -0.28%
• 1M: 7.55%
• YTD: 10.83%
• 6M: 10.12%
• 1Y: 29.46%
• 3Y*: 26.47%
• 5Y*: 15.72%
• 10Y*: 18.40%

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

NLCAX vs. VIGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NLCAX Voya Large-Cap Growth Fund	10.89%	14.63%	34.62%	37.74%	-31.26%	18.63%	30.75%	32.35%	-1.91%	29.29%
VIGIX Vanguard Growth Index Fund Institutional Shares	10.83%	19.44%	32.68%	46.77%	-33.13%	27.27%	40.19%	37.26%	-3.34%	27.81%

Correlation

The correlation between NLCAX and VIGIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 15, 1998	0.94

The correlation between NLCAX and VIGIX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Return for Risk

NLCAX vs. VIGIX — Risk / Return Rank

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

NLCAX

NLCAX Risk / Return Rank: 32
NLCAX Sharpe Ratio Rank: 41
NLCAX Sortino Ratio Rank: 39
NLCAX Omega Ratio Rank: 37
NLCAX Calmar Ratio Rank: 22
NLCAX Martin Ratio Rank: 23

VIGIX

VIGIX Risk / Return Rank: 34
VIGIX Sharpe Ratio Rank: 43
VIGIX Sortino Ratio Rank: 38
VIGIX Omega Ratio Rank: 39
VIGIX Calmar Ratio Rank: 25
VIGIX Martin Ratio Rank: 27

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.

NLCAX vs. VIGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Large-Cap Growth Fund (NLCAX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). 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.

	NLCAX	VIGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.92	-0.04
Sortino ratio: Return per unit of downside risk	2.61	2.59	+0.02
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	1.75	1.85	-0.09
Martin ratio: Return relative to average drawdown	5.81	6.49	-0.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NLCAX vs. VIGIX - Sharpe Ratio Comparison

The current NLCAX Sharpe Ratio is 1.88, which is comparable to the VIGIX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of NLCAX and VIGIX, 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

	NLCAX	VIGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.92	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.71	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.86	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.47	-0.03

Drawdowns

NLCAX vs. VIGIX - Drawdown Comparison

The maximum NLCAX drawdown since its inception was -76.45%, which is greater than VIGIX's maximum drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for NLCAX and VIGIX.

Drawdown Indicators

	NLCAX	VIGIX	Difference
Max Drawdown Largest peak-to-trough decline	-76.45%	-56.95%	-19.50%
Max Drawdown (1Y) Largest decline over 1 year	-17.52%	-16.51%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-24.76%	-23.03%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	-35.62%	+0.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.36%	-35.62%	+0.26%
Current Drawdown Current decline from peak	-0.07%	-0.28%	+0.21%
Average Drawdown Average peak-to-trough decline	-31.27%	-16.28%	-14.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.08%	4.68%	+0.40%

Volatility

NLCAX vs. VIGIX - Volatility Comparison

Voya Large-Cap Growth Fund (NLCAX) and Vanguard Growth Index Fund Institutional Shares (VIGIX) have volatilities of 3.74% and 3.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NLCAX	VIGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	3.62%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	12.10%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	15.87%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.15%	22.35%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.28%	21.59%	-0.31%

NLCAX vs. VIGIX - Expense Ratio Comparison

NLCAX has a 0.97% expense ratio, which is higher than VIGIX's 0.04% expense ratio.

Dividends

NLCAX vs. VIGIX - Dividend Comparison

NLCAX's dividend yield for the trailing twelve months is around 14.58%, more than VIGIX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NLCAX Voya Large-Cap Growth Fund	14.58%	16.16%	4.69%	0.00%	24.97%	18.15%	13.40%	4.61%	7.42%	5.86%	5.52%	7.37%
VIGIX Vanguard Growth Index Fund Institutional Shares	0.37%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.15%	1.40%	1.31%

Frequently Asked Questions

Can I hold both NLCAX and VIGIX in my portfolio?

NLCAX and VIGIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NLCAX or VIGIX?

NLCAX has higher volatility (3.74%) compared to VIGIX (3.62%). In terms of maximum drawdown, NLCAX dropped -76.45% vs VIGIX's -56.95%.

Which has better risk-adjusted returns?

VIGIX currently has the higher Sharpe Ratio (1.92 vs 1.88), 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.