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SMMD vs. VCPIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMMD vs. VCPIX

Last updated Jun 14, 2026

SMMD (iShares Russell 2500 ETF) and VCPIX (Vanguard Core-Plus Bond Fund Investor Shares) are both funds - SMMD is a Small Cap Growth Equities fund tracking the Russell 2500 Index, while VCPIX is a Total Bond Market fund managed by Vanguard. Over the past 3 years, SMMD returned 17.74%/yr vs 5.30%/yr for VCPIX. At a 0.24 correlation, their price movements are largely independent. SMMD charges 0.15%/yr vs 0.30%/yr for VCPIX.

Performance

SMMD vs. VCPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2500 ETF (SMMD) and Vanguard Core-Plus Bond Fund Investor Shares (VCPIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMMD achieves a 20.07% return, which is significantly higher than VCPIX's 0.73% return.

SMMD

1D
0.98%
1M
3.73%
YTD
20.07%
6M
17.82%
1Y
38.70%
3Y*
17.74%
5Y*
7.65%
10Y*
—

VCPIX

1D
0.47%
1M
0.51%
YTD
0.73%
6M
1.25%
1Y
5.54%
3Y*
5.30%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMMD vs. VCPIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SMMD
iShares Russell 2500 ETF		20.07%11.72%11.87%17.71%-18.53%1.93%
VCPIX
Vanguard Core-Plus Bond Fund Investor Shares		0.73%8.01%2.83%6.64%-12.68%0.35%

Correlation

The correlation between SMMD and VCPIX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

Correlation (3Y)
Calculated over the trailing 3-year period

0.30

Correlation (All Time)
Calculated using the full available price history since Oct 14, 2021

0.24

The correlation between SMMD and VCPIX shifts across timeframes, from 0.24 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares Russell 2500 ETF

Vanguard Core-Plus Bond Fund Investor Shares

Often compared with SMMD:
SMMD vs. VOOSMMD vs. IJRSMMD vs. IMCVSMMD vs. IJHSMMD vs. DODGXSMMD vs. XJRSMMD vs. IMCG
Often compared with VCPIX:
VCPIX vs. VCORXVCPIX vs. DODIXVCPIX vs. VBTLXVCPIX vs. USIBXVCPIX vs. ABNFXVCPIX vs. FLDRVCPIX vs. TRBUX

Return for Risk

SMMD vs. VCPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMMD
SMMD Risk / Return Rank: 7575
Overall Rank
SMMD Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SMMD Sortino Ratio Rank: 7474
Sortino Ratio Rank
SMMD Omega Ratio Rank: 6666
Omega Ratio Rank
SMMD Calmar Ratio Rank: 8181
Calmar Ratio Rank
SMMD Martin Ratio Rank: 8282
Martin Ratio Rank
VCPIX
VCPIX Risk / Return Rank: 4444
Overall Rank
VCPIX Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
VCPIX Sortino Ratio Rank: 5151
Sortino Ratio Rank
VCPIX Omega Ratio Rank: 4646
Omega Ratio Rank
VCPIX Calmar Ratio Rank: 4242
Calmar Ratio Rank
VCPIX Martin Ratio Rank: 3535
Martin Ratio Rank
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.

SMMD vs. VCPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2500 ETF (SMMD) and Vanguard Core-Plus Bond Fund Investor Shares (VCPIX). 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.

SMMDVCPIXDifference
Sharpe ratioReturn per unit of total volatility
2.06
1.58

+0.47

Sortino ratioReturn per unit of downside risk
2.86
2.36

+0.51

Omega ratioGain probability vs. loss probability

1.35

1.29

+0.06

Calmar ratioReturn relative to maximum drawdown

3.78

2.05

+1.73

Martin ratioReturn relative to average drawdown

14.33

6.44

+7.90

SMMD vs. VCPIX - Sharpe Ratio Comparison

The current SMMD Sharpe Ratio is 2.06, which is comparable to the VCPIX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of SMMD and VCPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SMMD vs. VCPIX - Drawdown Comparison

The maximum SMMD drawdown since its inception was -41.06%, which is greater than VCPIX's maximum drawdown of -17.33%. Use the drawdown chart below to compare losses from any high point for SMMD and VCPIX.

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Drawdown Indicators

SMMDVCPIXDifference

Max Drawdown

Largest peak-to-trough decline

-41.06%

-17.33%

-23.73%

Max Drawdown (1Y)

Largest decline over 1 year

-9.66%

-2.72%

-6.94%

Max Drawdown (3Y)

Largest decline over 3 years

-25.50%

-5.68%

-19.82%

Max Drawdown (5Y)

Largest decline over 5 years

-28.26%

—

—

Current Drawdown

Current decline from peak

0.00%

-1.01%

+1.01%

Average Drawdown

Average peak-to-trough decline

-8.35%

-6.56%

-1.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.55%

0.86%

+1.69%

Volatility

SMMD vs. VCPIX - Volatility Comparison

iShares Russell 2500 ETF (SMMD) has a higher volatility of 6.26% compared to Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) at 1.22%. This indicates that SMMD's price experiences larger fluctuations and is considered to be riskier than VCPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMMDVCPIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.26%

1.22%

+5.04%

Volatility (6M)

Calculated over the trailing 6-month period

13.30%

2.66%

+10.64%

Volatility (1Y)

Calculated over the trailing 1-year period

17.74%

3.52%

+14.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.91%

5.68%

+15.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

5.68%

+16.70%

SMMD vs. VCPIX - Expense Ratio Comparison

SMMD has a 0.15% expense ratio, which is lower than VCPIX's 0.30% expense ratio.

Dividends

SMMD vs. VCPIX - Dividend Comparison

SMMD's dividend yield for the trailing twelve months is around 1.04%, less than VCPIX's 4.74% yield.

PositionTTM202520242023202220212020201920182017
SMMD
iShares Russell 2500 ETF		1.04%1.28%1.27%1.44%1.79%1.12%1.31%1.50%2.45%0.68%
VCPIX
Vanguard Core-Plus Bond Fund Investor Shares		4.74%4.76%5.08%4.46%3.15%0.25%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SMMD and VCPIX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SMMD has higher volatility (6.26%) compared to VCPIX (1.22%). In terms of maximum drawdown, SMMD dropped -41.06% vs VCPIX's -17.33%.

SMMD currently has the higher Sharpe Ratio (2.06 vs 1.58), 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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