SOAVX vs. VIIIX

Last updated Jul 14, 2026

SOAVX (Spirit of America Large Cap Value Fund) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - SOAVX is a Large Cap Blend Equities fund managed by Spirit of America, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, SOAVX returned 15.21%/yr vs 15.39%/yr for VIIIX. With a 0.96 correlation, they move nearly in lockstep. SOAVX charges 1.50%/yr vs 0.02%/yr for VIIIX.

Performance

SOAVX vs. VIIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spirit of America Large Cap Value Fund (SOAVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOAVX achieves a 13.74% return, which is significantly higher than VIIIX's 11.34% return. Both investments have delivered pretty close results over the past 10 years, with SOAVX having a 15.21% annualized return and VIIIX not far ahead at 15.39%.

SOAVX

• 1D: 0.58%
• 1M: 1.91%
• 6M: 11.24%
• YTD: 13.74%
• 1Y: 23.77%
• 3Y*: 24.57%
• 5Y*: 15.38%
• 10Y*: 15.21%

VIIIX

• 1D: 0.43%
• 1M: 2.02%
• 6M: 9.19%
• YTD: 11.34%
• 1Y: 22.45%
• 3Y*: 21.51%
• 5Y*: 13.38%
• 10Y*: 15.39%

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

SOAVX vs. VIIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOAVX Spirit of America Large Cap Value Fund	13.74%	17.76%	33.24%	25.72%	-17.65%	29.26%	15.55%	29.54%	-7.87%	20.22%
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	11.34%	17.87%	26.29%	25.79%	-18.14%	28.69%	18.41%	31.48%	-4.41%	21.82%

Correlation

The correlation between SOAVX and VIIIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 31, 2002	0.96

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

Return for Risk

SOAVX vs. VIIIX — Risk / Return Rank

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

SOAVX

SOAVX Risk / Return Rank: 58
SOAVX Sharpe Ratio Rank: 54
SOAVX Sortino Ratio Rank: 49
SOAVX Omega Ratio Rank: 49
SOAVX Calmar Ratio Rank: 76
SOAVX Martin Ratio Rank: 65

VIIIX

VIIIX Risk / Return Rank: 65
VIIIX Sharpe Ratio Rank: 64
VIIIX Sortino Ratio Rank: 59
VIIIX Omega Ratio Rank: 61
VIIIX Calmar Ratio Rank: 66
VIIIX Martin Ratio Rank: 77

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.

SOAVX vs. VIIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spirit of America Large Cap Value Fund (SOAVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.

	SOAVX	VIIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.77	-0.13
Sortino ratio: Return per unit of downside risk	2.24	2.43	-0.19
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.73	2.49	+0.24
Martin ratio: Return relative to average drawdown	9.80	10.93	-1.13

SOAVX vs. VIIIX - Sharpe Ratio Comparison

The current SOAVX Sharpe Ratio is 1.63, which is comparable to the VIIIX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SOAVX and VIIIX, 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

SOAVX vs. VIIIX - Drawdown Comparison

The maximum SOAVX drawdown since its inception was -47.48%, smaller than the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for SOAVX and VIIIX.

Drawdown Indicators

	SOAVX	VIIIX	Difference
Max Drawdown Largest peak-to-trough decline	-47.48%	-55.18%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-8.90%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-18.75%	-2.21%
Max Drawdown (5Y) Largest decline over 5 years	-25.31%	-24.50%	-0.81%
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	-33.79%	-0.43%
Current Drawdown Current decline from peak	-1.18%	-0.32%	-0.86%
Average Drawdown Average peak-to-trough decline	-6.21%	-9.99%	+3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	2.02%	+0.38%

Volatility

SOAVX vs. VIIIX - Volatility Comparison

Spirit of America Large Cap Value Fund (SOAVX) has a higher volatility of 4.82% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 4.26%. This indicates that SOAVX's price experiences larger fluctuations and is considered to be riskier than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOAVX	VIIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.26%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	11.37%	9.96%	+1.41%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	12.52%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.77%	16.99%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.45%	18.04%	+0.41%

SOAVX vs. VIIIX - Expense Ratio Comparison

SOAVX has a 1.50% expense ratio, which is higher than VIIIX's 0.02% expense ratio.

Dividends

SOAVX vs. VIIIX - Dividend Comparison

SOAVX's dividend yield for the trailing twelve months is around 8.32%, more than VIIIX's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOAVX Spirit of America Large Cap Value Fund	8.32%	9.29%	6.42%	5.31%	9.80%	6.68%	5.72%	6.21%	7.56%	5.56%	6.31%	3.20%
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	2.47%	2.11%	3.66%	2.66%	3.39%	4.79%	3.07%	2.86%	2.45%	1.84%	2.38%	2.47%

Frequently Asked Questions

Can I hold both SOAVX and VIIIX in my portfolio?

With a correlation of 0.94, SOAVX and VIIIX 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, SOAVX or VIIIX?

SOAVX has higher volatility (4.82%) compared to VIIIX (4.26%). In terms of maximum drawdown, SOAVX dropped -47.48% vs VIIIX's -55.18%.

Which has better risk-adjusted returns?

VIIIX currently has the higher Sharpe Ratio (1.77 vs 1.63), 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.