NSMVX vs. VSMAX

Last updated Jun 26, 2026

NSMVX (North Star Micro Cap Fund) and VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) are both Small Cap Blend Equities funds. Over the past 10 years, NSMVX returned 10.01%/yr vs 11.77%/yr for VSMAX. Their correlation of 0.83 suggests significant overlap in exposure. NSMVX charges 1.30%/yr vs 0.05%/yr for VSMAX.

Performance

NSMVX vs. VSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Star Micro Cap Fund (NSMVX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NSMVX achieves a 16.71% return, which is significantly higher than VSMAX's 15.61% return. Over the past 10 years, NSMVX has underperformed VSMAX with an annualized return of 10.01%, while VSMAX has yielded a comparatively higher 11.77% annualized return.

NSMVX

• 1D: 1.02%
• 1M: 4.72%
• YTD: 16.71%
• 6M: 14.50%
• 1Y: 24.07%
• 3Y*: 14.46%
• 5Y*: 1.92%
• 10Y*: 10.01%

VSMAX

• 1D: 0.70%
• 1M: 1.45%
• YTD: 15.61%
• 6M: 13.21%
• 1Y: 28.83%
• 3Y*: 17.49%
• 5Y*: 6.99%
• 10Y*: 11.77%

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

NSMVX vs. VSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NSMVX North Star Micro Cap Fund	16.71%	-0.97%	15.30%	22.31%	-24.84%	14.12%	37.19%	19.52%	-13.50%	4.84%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	15.61%	8.83%	14.23%	18.17%	-17.61%	17.74%	19.06%	27.36%	-9.33%	16.24%

Correlation

The correlation between NSMVX and VSMAX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 31, 2013	0.83

The correlation between NSMVX and VSMAX has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

NSMVX vs. VSMAX — Risk / Return Rank

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

NSMVX

NSMVX Risk / Return Rank: 28
NSMVX Sharpe Ratio Rank: 28
NSMVX Sortino Ratio Rank: 32
NSMVX Omega Ratio Rank: 26
NSMVX Calmar Ratio Rank: 31
NSMVX Martin Ratio Rank: 25

VSMAX

VSMAX Risk / Return Rank: 56
VSMAX Sharpe Ratio Rank: 45
VSMAX Sortino Ratio Rank: 46
VSMAX Omega Ratio Rank: 40
VSMAX Calmar Ratio Rank: 78
VSMAX Martin Ratio Rank: 69

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.

NSMVX vs. VSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Star Micro Cap Fund (NSMVX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). 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.

	NSMVX	VSMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.66	-0.43
Sortino ratio: Return per unit of downside risk	1.95	2.39	-0.44
Omega ratio: Gain probability vs. loss probability	1.22	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	1.73	3.08	-1.35
Martin ratio: Return relative to average drawdown	4.94	11.32	-6.38

NSMVX vs. VSMAX - Sharpe Ratio Comparison

The current NSMVX Sharpe Ratio is 1.24, which is comparable to the VSMAX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of NSMVX and VSMAX, 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

NSMVX vs. VSMAX - Drawdown Comparison

The maximum NSMVX drawdown since its inception was -41.32%, smaller than the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for NSMVX and VSMAX.

Drawdown Indicators

	NSMVX	VSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.32%	-59.68%	+18.36%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-8.97%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	-22.82%	-25.25%	+2.43%
Max Drawdown (5Y) Largest decline over 5 years	-39.42%	-28.14%	-11.28%
Max Drawdown (10Y) Largest decline over 10 years	-41.32%	-41.82%	+0.50%
Current Drawdown Current decline from peak	0.00%	-0.42%	+0.42%
Average Drawdown Average peak-to-trough decline	-10.39%	-9.67%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	2.44%	+2.10%

Volatility

NSMVX vs. VSMAX - Volatility Comparison

North Star Micro Cap Fund (NSMVX) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) have volatilities of 5.22% and 5.01%, 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

	NSMVX	VSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	5.01%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	12.23%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	16.66%	+1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.82%	20.75%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	21.56%	-1.40%

NSMVX vs. VSMAX - Expense Ratio Comparison

NSMVX has a 1.30% expense ratio, which is higher than VSMAX's 0.05% expense ratio.

Dividends

NSMVX vs. VSMAX - Dividend Comparison

NSMVX's dividend yield for the trailing twelve months is around 3.18%, more than VSMAX's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NSMVX North Star Micro Cap Fund	3.18%	3.72%	2.98%	0.72%	0.26%	3.30%	0.01%	0.94%	7.51%	3.22%	3.34%	5.11%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	1.18%	1.33%	1.30%	1.56%	1.54%	1.24%	1.14%	1.39%	1.67%	1.35%	1.49%	1.48%

Frequently Asked Questions

Can I hold both NSMVX and VSMAX in my portfolio?

NSMVX and VSMAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NSMVX or VSMAX?

NSMVX has higher volatility (5.22%) compared to VSMAX (5.01%). In terms of maximum drawdown, NSMVX dropped -41.32% vs VSMAX's -59.68%.

Which has better risk-adjusted returns?

VSMAX currently has the higher Sharpe Ratio (1.66 vs 1.24), 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.