TRAIX vs. VFMV

Last updated Jun 13, 2026

TRAIX (T. Rowe Price Capital Appreciation Fund - I Class) and VFMV (Vanguard U.S. Minimum Volatility ETF) are both funds - TRAIX is a Diversified Portfolio fund actively managed by T. Rowe Price, while VFMV is a Mid Cap Blend Equities fund actively managed by Vanguard. Both are actively managed. Over the past 5 years, TRAIX returned 8.41%/yr vs 9.55%/yr for VFMV. A 0.79 correlation means they provide meaningful diversification when combined. TRAIX charges 0.59%/yr vs 0.13%/yr for VFMV.

Performance

TRAIX vs. VFMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) and Vanguard U.S. Minimum Volatility ETF (VFMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRAIX achieves a 3.78% return, which is significantly lower than VFMV's 8.57% return.

TRAIX

• 1D: 0.60%
• 1M: -1.15%
• YTD: 3.78%
• 6M: 4.18%
• 1Y: 11.26%
• 3Y*: 12.69%
• 5Y*: 8.41%
• 10Y*: 11.25%

VFMV

• 1D: 0.40%
• 1M: 1.39%
• YTD: 8.57%
• 6M: 7.81%
• 1Y: 12.36%
• 3Y*: 14.22%
• 5Y*: 9.55%
• 10Y*: —

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

TRAIX vs. VFMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	3.78%	12.57%	12.64%	19.01%	-11.89%	18.59%	18.28%	24.71%	0.76%
VFMV Vanguard U.S. Minimum Volatility ETF	8.57%	10.52%	16.91%	8.86%	-5.73%	20.75%	-0.19%	27.26%	-0.34%

Correlation

The correlation between TRAIX and VFMV is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018	0.79

The correlation between TRAIX and VFMV shifts across timeframes, from 0.66 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRAIX vs. VFMV — Risk / Return Rank

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

TRAIX

TRAIX Risk / Return Rank: 42
TRAIX Sharpe Ratio Rank: 43
TRAIX Sortino Ratio Rank: 42
TRAIX Omega Ratio Rank: 44
TRAIX Calmar Ratio Rank: 36
TRAIX Martin Ratio Rank: 45

VFMV

VFMV Risk / Return Rank: 47
VFMV Sharpe Ratio Rank: 46
VFMV Sortino Ratio Rank: 46
VFMV Omega Ratio Rank: 43
VFMV Calmar Ratio Rank: 47
VFMV Martin Ratio Rank: 53

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.

TRAIX vs. VFMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) and Vanguard U.S. Minimum Volatility ETF (VFMV). 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.

	TRAIX	VFMV	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.41	+0.11
Sortino ratio: Return per unit of downside risk	2.14	2.05	+0.09
Omega ratio: Gain probability vs. loss probability	1.28	1.25	+0.03
Calmar ratio: Return relative to maximum drawdown	1.84	2.07	-0.22
Martin ratio: Return relative to average drawdown	7.83	8.03	-0.20

TRAIX vs. VFMV - Sharpe Ratio Comparison

The current TRAIX Sharpe Ratio is 1.51, which is comparable to the VFMV Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of TRAIX and VFMV, 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

TRAIX vs. VFMV - Drawdown Comparison

The maximum TRAIX drawdown since its inception was -26.84%, smaller than the maximum VFMV drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for TRAIX and VFMV.

Drawdown Indicators

	TRAIX	VFMV	Difference
Max Drawdown Largest peak-to-trough decline	-26.84%	-33.64%	+6.80%
Max Drawdown (1Y) Largest decline over 1 year	-6.30%	-6.00%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-10.35%	-5.67%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-15.41%	-1.59%
Max Drawdown (10Y) Largest decline over 10 years	-26.84%	—	—
Current Drawdown Current decline from peak	-2.37%	-0.98%	-1.39%
Average Drawdown Average peak-to-trough decline	-2.82%	-3.63%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	1.55%	-0.07%

Volatility

TRAIX vs. VFMV - Volatility Comparison

T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) has a higher volatility of 2.68% compared to Vanguard U.S. Minimum Volatility ETF (VFMV) at 2.30%. This indicates that TRAIX's price experiences larger fluctuations and is considered to be riskier than VFMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRAIX	VFMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.30%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	6.15%	6.32%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	7.67%	8.83%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.79%	11.75%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.76%	14.23%	-1.47%

TRAIX vs. VFMV - Expense Ratio Comparison

TRAIX has a 0.59% expense ratio, which is higher than VFMV's 0.13% expense ratio.

Dividends

TRAIX vs. VFMV - Dividend Comparison

TRAIX's dividend yield for the trailing twelve months is around 8.63%, more than VFMV's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TRAIX T. Rowe Price Capital Appreciation Fund - I Class	8.63%	8.96%	10.52%	4.28%	9.70%	9.35%	8.08%	5.92%	7.57%	6.96%	3.59%
VFMV Vanguard U.S. Minimum Volatility ETF	1.93%	2.12%	1.46%	2.20%	2.08%	1.31%	2.14%	2.43%	2.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRAIX and VFMV in my portfolio?

TRAIX and VFMV have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRAIX or VFMV?

TRAIX has higher volatility (2.68%) compared to VFMV (2.30%). In terms of maximum drawdown, TRAIX dropped -26.84% vs VFMV's -33.64%.

Which has better risk-adjusted returns?

TRAIX currently has the higher Sharpe Ratio (1.51 vs 1.41), 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.