PDGIX vs. VDADX

Last updated Jun 13, 2026

PDGIX (T. Rowe Price Dividend Growth Fund) and VDADX (Vanguard Dividend Appreciation Index Fund Admiral Shares) are both mutual funds - PDGIX is a Large Cap Value Equities fund actively managed by T. Rowe Price, while VDADX is a Dividend fund tracking the S&P U.S. Dividend Growers Index. PDGIX is actively managed, while VDADX is passively managed. Over the past 10 years, PDGIX returned 13.06%/yr vs 13.17%/yr for VDADX. With a 0.96 correlation, they move nearly in lockstep. PDGIX charges 0.51%/yr vs 0.07%/yr for VDADX.

Performance

PDGIX vs. VDADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dividend Growth Fund (PDGIX) and Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDGIX achieves a 7.64% return, which is significantly higher than VDADX's 7.11% return. Both investments have delivered pretty close results over the past 10 years, with PDGIX having a 13.06% annualized return and VDADX not far ahead at 13.17%.

PDGIX

• 1D: 1.34%
• 1M: 2.22%
• YTD: 7.64%
• 6M: 7.36%
• 1Y: 17.81%
• 3Y*: 15.48%
• 5Y*: 10.10%
• 10Y*: 13.06%

VDADX

• 1D: 1.27%
• 1M: 2.23%
• YTD: 7.11%
• 6M: 6.43%
• 1Y: 19.02%
• 3Y*: 15.97%
• 5Y*: 10.60%
• 10Y*: 13.17%

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

PDGIX vs. VDADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PDGIX T. Rowe Price Dividend Growth Fund	7.64%	14.91%	13.63%	13.82%	-10.08%	26.19%	14.06%	31.90%	-0.93%	18.98%
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	7.11%	14.17%	16.99%	14.44%	-9.80%	23.59%	15.47%	29.68%	-2.06%	22.22%

Correlation

The correlation between PDGIX and VDADX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.96

The correlation between PDGIX and VDADX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

PDGIX vs. VDADX — Risk / Return Rank

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

PDGIX

PDGIX Risk / Return Rank: 54
PDGIX Sharpe Ratio Rank: 53
PDGIX Sortino Ratio Rank: 55
PDGIX Omega Ratio Rank: 50
PDGIX Calmar Ratio Rank: 53
PDGIX Martin Ratio Rank: 58

VDADX

VDADX Risk / Return Rank: 60
VDADX Sharpe Ratio Rank: 61
VDADX Sortino Ratio Rank: 65
VDADX Omega Ratio Rank: 57
VDADX Calmar Ratio Rank: 56
VDADX Martin Ratio Rank: 59

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.

PDGIX vs. VDADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dividend Growth Fund (PDGIX) and Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX). 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.

	PDGIX	VDADX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.80	-0.10
Sortino ratio: Return per unit of downside risk	2.44	2.61	-0.18
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	2.31	2.33	-0.02
Martin ratio: Return relative to average drawdown	9.42	9.37	+0.05

PDGIX vs. VDADX - Sharpe Ratio Comparison

The current PDGIX Sharpe Ratio is 1.70, which is comparable to the VDADX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of PDGIX and VDADX, 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

PDGIX vs. VDADX - Drawdown Comparison

The maximum PDGIX drawdown since its inception was -33.17%, roughly equal to the maximum VDADX drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for PDGIX and VDADX.

Drawdown Indicators

	PDGIX	VDADX	Difference
Max Drawdown Largest peak-to-trough decline	-33.17%	-31.70%	-1.47%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-7.93%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-14.12%	-14.95%	+0.83%
Max Drawdown (5Y) Largest decline over 5 years	-19.21%	-20.42%	+1.21%
Max Drawdown (10Y) Largest decline over 10 years	-33.17%	-31.70%	-1.47%
Current Drawdown Current decline from peak	-0.39%	-0.81%	+0.42%
Average Drawdown Average peak-to-trough decline	-3.35%	-3.40%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.97%	-0.18%

Volatility

PDGIX vs. VDADX - Volatility Comparison

T. Rowe Price Dividend Growth Fund (PDGIX) and Vanguard Dividend Appreciation Index Fund Admiral Shares (VDADX) have volatilities of 2.85% and 2.95%, 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

	PDGIX	VDADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	2.95%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	7.79%	7.87%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	9.94%	10.27%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	14.30%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.88%	16.20%	-0.32%

PDGIX vs. VDADX - Expense Ratio Comparison

PDGIX has a 0.51% expense ratio, which is higher than VDADX's 0.07% expense ratio.

Dividends

PDGIX vs. VDADX - Dividend Comparison

PDGIX's dividend yield for the trailing twelve months is around 7.66%, more than VDADX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PDGIX T. Rowe Price Dividend Growth Fund	7.66%	8.16%	4.80%	2.90%	3.99%	2.09%	1.15%	2.44%	3.81%	1.89%	3.20%	0.00%
VDADX Vanguard Dividend Appreciation Index Fund Admiral Shares	1.45%	1.60%	1.71%	1.86%	1.94%	1.53%	1.61%	1.69%	2.07%	1.88%	2.14%	2.34%

Frequently Asked Questions

Can I hold both PDGIX and VDADX in my portfolio?

With a correlation of 0.95, PDGIX and VDADX 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, PDGIX or VDADX?

VDADX has higher volatility (2.95%) compared to PDGIX (2.85%). In terms of maximum drawdown, PDGIX dropped -33.17% vs VDADX's -31.70%.

Which has better risk-adjusted returns?

VDADX currently has the higher Sharpe Ratio (1.80 vs 1.70), 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.