PMEGX vs. VO
PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) and VO (Vanguard Mid-Cap ETF) are both funds - PMEGX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Over the past 10 years, PMEGX returned 9.78%/yr vs 11.50%/yr for VO. Their 0.95 correlation means they have historically moved very closely together. PMEGX charges 0.61%/yr vs 0.03%/yr for VO.
Performance
PMEGX vs. VO - Performance Comparison
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Returns By Period
In the year-to-date period, PMEGX achieves a 3.03% return, which is significantly lower than VO's 12.35% return. Over the past 10 years, PMEGX has underperformed VO with an annualized return of 9.78%, while VO has yielded a comparatively higher 11.50% annualized return.
PMEGX
- 1D
- 0.47%
- 1M
- -1.53%
- 6M
- 2.67%
- YTD
- 3.03%
- 1Y
- 6.19%
- 3Y*
- 6.28%
- 5Y*
- 2.15%
- 10Y*
- 9.78%
- ALL TIME*
- 10.81%
VO
- 1D
- -0.05%
- 1M
- 0.55%
- 6M
- 10.12%
- YTD
- 12.35%
- 1Y
- 16.51%
- 3Y*
- 14.32%
- 5Y*
- 7.77%
- 10Y*
- 11.50%
- ALL TIME*
- 10.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $194.51M | $293.72M | $235.90M |
PMEGX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 3.03% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 26.02% |
VO Vanguard Mid-Cap ETF | 12.35% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Correlation
The correlation between PMEGX and VO is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.95 |
The correlation between PMEGX and VO has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
PMEGX vs. VO — Risk / Return Rank
PMEGX
VO
PMEGX vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) and Vanguard Mid-Cap ETF (VO). 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.
| PMEGX | VO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.21 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.83 | -1.41 |
| Martin ratioReturn relative to average drawdown | 1.39 | 6.99 | -5.60 |
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Drawdowns
PMEGX vs. VO - Drawdown Comparison
The maximum PMEGX drawdown since its inception was -55.88%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for PMEGX and VO.
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Drawdown Indicators
| PMEGX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.88% | -58.87% | +2.99% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -8.17% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -19.02% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -32.87% | -27.57% | -5.30% |
Max Drawdown (10Y)Largest decline over 10 years | -37.16% | -39.37% | +2.21% |
Current DrawdownCurrent decline from peak | -6.20% | -0.49% | -5.71% |
Average DrawdownAverage peak-to-trough decline | -8.99% | -7.81% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 2.13% | +0.91% |
Volatility
PMEGX vs. VO - Volatility Comparison
T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) has a higher volatility of 2.50% compared to Vanguard Mid-Cap ETF (VO) at 2.09%. This indicates that PMEGX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMEGX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 2.09% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 10.49% | 9.44% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 12.61% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.11% | 17.59% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.75% | 18.86% | +0.89% |
PMEGX vs. VO - Expense Ratio Comparison
PMEGX has a 0.61% expense ratio, which is higher than VO's 0.03% expense ratio.
Dividends
PMEGX vs. VO - Dividend Comparison
PMEGX's dividend yield for the trailing twelve months is around 20.48%, more than VO's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.48% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
VO Vanguard Mid-Cap ETF | 1.32% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Frequently Asked Questions
PMEGX and VO 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.
PMEGX has higher volatility (2.50%) compared to VO (2.09%). In terms of maximum drawdown, PMEGX dropped -55.88% vs VO's -58.87%.
VO currently has the higher Sharpe Ratio (1.18 vs 0.31), 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.
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