PCSGX vs. VSGAX

Last updated Jul 14, 2026

PCSGX (PACE Small/Medium Co Growth Equity Investments) and VSGAX (Vanguard Small-Cap Growth Index Fund Admiral Shares) are both Small Cap Growth Equities funds. Over the past 10 years, PCSGX returned 11.09%/yr vs 11.34%/yr for VSGAX. With a 0.96 correlation, they move nearly in lockstep. PCSGX charges 1.03%/yr vs 0.07%/yr for VSGAX.

Performance

PCSGX vs. VSGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Small/Medium Co Growth Equity Investments (PCSGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PCSGX having a 17.46% return and VSGAX slightly higher at 17.55%. Both investments have delivered pretty close results over the past 10 years, with PCSGX having a 11.09% annualized return and VSGAX not far ahead at 11.34%.

PCSGX

• 1D: -0.87%
• 1M: 3.72%
• 6M: 13.32%
• YTD: 17.46%
• 1Y: 23.40%
• 3Y*: 11.33%
• 5Y*: 2.68%
• 10Y*: 11.09%

VSGAX

• 1D: -0.93%
• 1M: 1.01%
• 6M: 10.14%
• YTD: 17.55%
• 1Y: 27.31%
• 3Y*: 15.54%
• 5Y*: 4.72%
• 10Y*: 11.34%

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

PCSGX vs. VSGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCSGX PACE Small/Medium Co Growth Equity Investments	17.46%	2.00%	12.20%	15.89%	-26.58%	14.91%	38.85%	24.05%	0.33%	23.26%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	17.55%	8.44%	14.94%	23.04%	-28.39%	5.70%	35.26%	32.76%	-5.69%	21.92%

Correlation

The correlation between PCSGX and VSGAX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.96

The correlation between PCSGX and VSGAX has been stable across timeframes, ranging from 0.86 to 0.96 - a consistent structural relationship.

Return for Risk

PCSGX vs. VSGAX — Risk / Return Rank

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

PCSGX

PCSGX Risk / Return Rank: 35
PCSGX Sharpe Ratio Rank: 33
PCSGX Sortino Ratio Rank: 36
PCSGX Omega Ratio Rank: 30
PCSGX Calmar Ratio Rank: 39
PCSGX Martin Ratio Rank: 39

VSGAX

VSGAX Risk / Return Rank: 40
VSGAX Sharpe Ratio Rank: 34
VSGAX Sortino Ratio Rank: 33
VSGAX Omega Ratio Rank: 30
VSGAX Calmar Ratio Rank: 54
VSGAX Martin Ratio Rank: 52

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.

PCSGX vs. VSGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Small/Medium Co Growth Equity Investments (PCSGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). 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.

	PCSGX	VSGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.26	-0.02
Sortino ratio: Return per unit of downside risk	1.91	1.82	+0.09
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.89	2.27	-0.37
Martin ratio: Return relative to average drawdown	6.79	8.41	-1.62

PCSGX vs. VSGAX - Sharpe Ratio Comparison

The current PCSGX Sharpe Ratio is 1.24, which is comparable to the VSGAX Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of PCSGX and VSGAX, 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

PCSGX vs. VSGAX - Drawdown Comparison

The maximum PCSGX drawdown since its inception was -56.32%, which is greater than VSGAX's maximum drawdown of -38.70%. Use the drawdown chart below to compare losses from any high point for PCSGX and VSGAX.

Drawdown Indicators

	PCSGX	VSGAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.32%	-38.70%	-17.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-11.37%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-27.64%	-27.47%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	-37.48%	-38.36%	+0.88%
Max Drawdown (10Y) Largest decline over 10 years	-39.35%	-38.70%	-0.65%
Current Drawdown Current decline from peak	-2.46%	-3.20%	+0.74%
Average Drawdown Average peak-to-trough decline	-12.37%	-8.50%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	3.07%	+0.57%

Volatility

PCSGX vs. VSGAX - Volatility Comparison

PACE Small/Medium Co Growth Equity Investments (PCSGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) have volatilities of 6.57% and 6.31%, 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

	PCSGX	VSGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	6.31%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	15.24%	15.76%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	20.53%	20.45%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.04%	23.73%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.83%	23.01%	-0.18%

PCSGX vs. VSGAX - Expense Ratio Comparison

PCSGX has a 1.03% expense ratio, which is higher than VSGAX's 0.07% expense ratio.

Dividends

PCSGX vs. VSGAX - Dividend Comparison

PCSGX's dividend yield for the trailing twelve months is around 5.45%, more than VSGAX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCSGX PACE Small/Medium Co Growth Equity Investments	5.45%	6.40%	3.06%	0.00%	0.00%	45.92%	6.50%	15.70%	20.15%	5.56%	0.00%	25.13%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	0.42%	0.54%	0.54%	0.67%	0.55%	0.36%	0.44%	0.57%	0.79%	0.81%	1.08%	0.98%

Frequently Asked Questions

Can I hold both PCSGX and VSGAX in my portfolio?

PCSGX and VSGAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCSGX or VSGAX?

PCSGX has higher volatility (6.57%) compared to VSGAX (6.31%). In terms of maximum drawdown, PCSGX dropped -56.32% vs VSGAX's -38.70%.

Which has better risk-adjusted returns?

VSGAX currently has the higher Sharpe Ratio (1.26 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.