NQVAX vs. VFIAX

Last updated Aug 1, 2026

NQVAX (Nuveen Multi-Cap Value Fund Class A) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both mutual funds - NQVAX is a Large Cap Value Equities fund actively managed by Nuveen, while VFIAX is a S&P 500 fund tracking the S&P 500 Index. NQVAX is actively managed, while VFIAX is passively managed. Over the past 10 years, NQVAX returned 12.99%/yr vs 14.96%/yr for VFIAX. Their correlation of 0.88 means they have usually moved in the same direction. NQVAX charges 1.15%/yr vs 0.04%/yr for VFIAX.

Performance

NQVAX vs. VFIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Multi-Cap Value Fund Class A (NQVAX) 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, NQVAX achieves a 16.63% return, which is significantly higher than VFIAX's 9.33% return. Over the past 10 years, NQVAX has underperformed VFIAX with an annualized return of 12.99%, while VFIAX has yielded a comparatively higher 14.96% annualized return.

NQVAX

• 1D: 1.25%
• 1M: 0.33%
• 6M: 11.64%
• YTD: 16.63%
• 1Y: 29.19%
• 3Y*: 18.49%
• 5Y*: 13.74%
• 10Y*: 12.99%
• ALL TIME*: 9.44%

VFIAX

• 1D: 1.66%
• 1M: -0.56%
• 6M: 7.77%
• YTD: 9.33%
• 1Y: 20.60%
• 3Y*: 19.00%
• 5Y*: 12.65%
• 10Y*: 14.96%
• ALL TIME*: 8.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NQVAX Nuveen Multi-Cap Value Fund Class A	$0.00	$0.00	$0.00
VFIAX Vanguard 500 Index Fund Admiral Shares	$0.00	$0.00	$0.00

NQVAX vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NQVAX Nuveen Multi-Cap Value Fund Class A	16.63%	17.62%	18.95%	15.65%	-1.27%	28.22%	-0.51%	29.99%	-14.58%	18.37%
VFIAX Vanguard 500 Index Fund Admiral Shares	9.33%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between NQVAX and VFIAX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Dec 6, 2002	0.88

The correlation between NQVAX and VFIAX shifts across timeframes, from 0.77 (3 years) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NQVAX vs. VFIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NQVAX

NQVAX Risk / Return Rank: 86
NQVAX Sharpe Ratio Rank: 84
NQVAX Sortino Ratio Rank: 82
NQVAX Omega Ratio Rank: 79
NQVAX Calmar Ratio Rank: 92
NQVAX Martin Ratio Rank: 93

VFIAX

VFIAX Risk / Return Rank: 63
VFIAX Sharpe Ratio Rank: 61
VFIAX Sortino Ratio Rank: 57
VFIAX Omega Ratio Rank: 58
VFIAX Calmar Ratio Rank: 65
VFIAX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NQVAX vs. VFIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Multi-Cap Value Fund Class A (NQVAX) 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.

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.

	NQVAX	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.43	+0.63
Sortino ratio: Return per unit of downside risk	2.90	1.99	+0.90
Omega ratio: Gain probability vs. loss probability	1.36	1.26	+0.10
Calmar ratio: Return relative to maximum drawdown	3.68	2.06	+1.63
Martin ratio: Return relative to average drawdown	13.97	8.84	+5.13

NQVAX vs. VFIAX - Sharpe Ratio Comparison

The current NQVAX Sharpe Ratio is 2.06, which is higher than the VFIAX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of NQVAX 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.

Drawdowns

NQVAX vs. VFIAX - Drawdown Comparison

The maximum NQVAX drawdown since its inception was -67.90%, which is greater than VFIAX's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for NQVAX and VFIAX.

Drawdown Indicators

	NQVAX	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-67.90%	-55.20%	-12.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-8.90%	+1.49%
Max Drawdown (3Y) Largest decline over 3 years	-18.01%	-18.75%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-18.01%	-24.53%	+6.52%
Max Drawdown (10Y) Largest decline over 10 years	-42.29%	-33.83%	-8.46%
Current Drawdown Current decline from peak	-0.27%	-2.11%	+1.84%
Average Drawdown Average peak-to-trough decline	-11.74%	-9.35%	-2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.07%	-0.11%

Volatility

NQVAX vs. VFIAX - Volatility Comparison

Nuveen Multi-Cap Value Fund Class A (NQVAX) and Vanguard 500 Index Fund Admiral Shares (VFIAX) have volatilities of 3.28% and 3.44%, 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

	NQVAX	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.44%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	10.09%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	12.86%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	17.01%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.97%	18.07%	+0.90%

NQVAX vs. VFIAX - Expense Ratio Comparison

NQVAX has a 1.15% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

NQVAX vs. VFIAX - Dividend Comparison

NQVAX's dividend yield for the trailing twelve months is around 1.42%, more than VFIAX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NQVAX Nuveen Multi-Cap Value Fund Class A	1.42%	1.66%	1.62%	1.06%	1.17%	1.23%	3.17%	1.10%	0.00%	1.76%	0.79%	0.78%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.07%	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 NQVAX and VFIAX in my portfolio?

NQVAX and VFIAX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NQVAX or VFIAX?

VFIAX has higher volatility (3.44%) compared to NQVAX (3.28%). In terms of maximum drawdown, NQVAX dropped -67.90% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

NQVAX currently has the higher Sharpe Ratio (2.06 vs 1.43), 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.