PPI vs. VIVIX

Last updated Jun 24, 2026

PPI (Astoria Real Assets ETF) and VIVIX (Vanguard Value Index Fund Institutional Shares) are both funds - PPI is a Global Allocation fund actively managed by AXS, while VIVIX is a Large Cap Value Equities fund managed by Vanguard. Over the past 3 years, PPI returned 21.33%/yr vs 18.88%/yr for VIVIX. A 0.73 correlation means they provide meaningful diversification when combined. PPI charges 0.58%/yr vs 0.04%/yr for VIVIX.

Performance

PPI vs. VIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Astoria Real Assets ETF (PPI) and Vanguard Value Index Fund Institutional Shares (VIVIX). 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 PPI having a 15.09% return and VIVIX slightly higher at 15.10%.

PPI

• 1D: -1.62%
• 1M: -1.89%
• YTD: 15.09%
• 6M: 13.39%
• 1Y: 35.02%
• 3Y*: 21.33%
• 5Y*: —
• 10Y*: —

VIVIX

• 1D: 0.97%
• 1M: 3.70%
• YTD: 15.10%
• 6M: 14.55%
• 1Y: 27.91%
• 3Y*: 18.88%
• 5Y*: 12.51%
• 10Y*: 13.01%

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

PPI vs. VIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PPI Astoria Real Assets ETF	15.09%	30.05%	6.43%	11.33%	4.04%	0.03%
VIVIX Vanguard Value Index Fund Institutional Shares	15.10%	15.30%	15.99%	9.23%	-2.05%	-0.09%

Correlation

The correlation between PPI and VIVIX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Dec 30, 2021	0.73

The correlation between PPI and VIVIX shifts across timeframes, from 0.63 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PPI vs. VIVIX — Risk / Return Rank

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

PPI

PPI Risk / Return Rank: 73
PPI Sharpe Ratio Rank: 72
PPI Sortino Ratio Rank: 66
PPI Omega Ratio Rank: 68
PPI Calmar Ratio Rank: 85
PPI Martin Ratio Rank: 75

VIVIX

VIVIX Risk / Return Rank: 89
VIVIX Sharpe Ratio Rank: 91
VIVIX Sortino Ratio Rank: 88
VIVIX Omega Ratio Rank: 82
VIVIX Calmar Ratio Rank: 92
VIVIX Martin Ratio Rank: 91

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.

PPI vs. VIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Astoria Real Assets ETF (PPI) and Vanguard Value Index Fund Institutional Shares (VIVIX). 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.

	PPI	VIVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.80	-0.63
Sortino ratio: Return per unit of downside risk	2.84	3.96	-1.12
Omega ratio: Gain probability vs. loss probability	1.38	1.50	-0.12
Calmar ratio: Return relative to maximum drawdown	4.41	4.55	-0.14
Martin ratio: Return relative to average drawdown	13.26	17.11	-3.85

PPI vs. VIVIX - Sharpe Ratio Comparison

The current PPI Sharpe Ratio is 2.17, which is comparable to the VIVIX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of PPI and VIVIX, 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

PPI vs. VIVIX - Drawdown Comparison

The maximum PPI drawdown since its inception was -24.54%, smaller than the maximum VIVIX drawdown of -59.30%. Use the drawdown chart below to compare losses from any high point for PPI and VIVIX.

Drawdown Indicators

	PPI	VIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-59.30%	+34.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-6.36%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	-14.40%	-6.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.80%	—
Current Drawdown Current decline from peak	-4.45%	0.00%	-4.45%
Average Drawdown Average peak-to-trough decline	-6.47%	-9.24%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	1.69%	+0.96%

Volatility

PPI vs. VIVIX - Volatility Comparison

Astoria Real Assets ETF (PPI) has a higher volatility of 5.01% compared to Vanguard Value Index Fund Institutional Shares (VIVIX) at 3.36%. This indicates that PPI's price experiences larger fluctuations and is considered to be riskier than VIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPI	VIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	3.36%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	7.87%	+5.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.25%	10.37%	+5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	13.91%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	16.76%	+2.28%

PPI vs. VIVIX - Expense Ratio Comparison

PPI has a 0.58% expense ratio, which is higher than VIVIX's 0.04% expense ratio.

Dividends

PPI vs. VIVIX - Dividend Comparison

PPI's dividend yield for the trailing twelve months is around 1.02%, less than VIVIX's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPI Astoria Real Assets ETF	1.02%	1.06%	0.60%	2.87%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VIVIX Vanguard Value Index Fund Institutional Shares	1.82%	2.04%	2.31%	2.46%	2.52%	2.15%	2.55%	2.50%	2.73%	2.30%	2.46%	2.61%

Frequently Asked Questions

Can I hold both PPI and VIVIX in my portfolio?

PPI and VIVIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPI or VIVIX?

PPI has higher volatility (5.01%) compared to VIVIX (3.36%). In terms of maximum drawdown, PPI dropped -24.54% vs VIVIX's -59.30%.

Which has better risk-adjusted returns?

VIVIX currently has the higher Sharpe Ratio (2.80 vs 2.17), 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.