VASVX vs. VMFVX

Last updated Jul 17, 2026

VASVX (Vanguard Selected Value Fund) and VMFVX (Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares) are both Mid Cap Value Equities funds from Vanguard. Over the past 10 years, VASVX returned 11.12%/yr vs 10.55%/yr for VMFVX. With a 0.95 correlation, they move nearly in lockstep. VASVX charges 0.32%/yr vs 0.08%/yr for VMFVX.

Performance

VASVX vs. VMFVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Selected Value Fund (VASVX) and Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VASVX achieves a 13.80% return, which is significantly higher than VMFVX's 12.71% return. Over the past 10 years, VASVX has outperformed VMFVX with an annualized return of 11.12%, while VMFVX has yielded a comparatively lower 10.55% annualized return.

VASVX

• 1D: 0.67%
• 1M: 1.82%
• 6M: 8.72%
• YTD: 13.80%
• 1Y: 21.85%
• 3Y*: 14.20%
• 5Y*: 11.48%
• 10Y*: 11.12%

VMFVX

• 1D: 0.18%
• 1M: 0.81%
• 6M: 6.44%
• YTD: 12.71%
• 1Y: 19.30%
• 3Y*: 12.60%
• 5Y*: 9.71%
• 10Y*: 10.55%

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

VASVX vs. VMFVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VASVX Vanguard Selected Value Fund	13.80%	10.99%	6.68%	25.45%	-7.55%	27.54%	5.79%	29.55%	-19.75%	18.01%
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares	12.71%	7.57%	10.59%	16.49%	-7.03%	30.54%	3.68%	26.18%	-11.90%	12.27%

Correlation

The correlation between VASVX and VMFVX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011	0.95

The correlation between VASVX and VMFVX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

VASVX vs. VMFVX — Risk / Return Rank

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

VASVX

VASVX Risk / Return Rank: 41
VASVX Sharpe Ratio Rank: 43
VASVX Sortino Ratio Rank: 48
VASVX Omega Ratio Rank: 40
VASVX Calmar Ratio Rank: 39
VASVX Martin Ratio Rank: 35

VMFVX

VMFVX Risk / Return Rank: 37
VMFVX Sharpe Ratio Rank: 36
VMFVX Sortino Ratio Rank: 40
VMFVX Omega Ratio Rank: 34
VMFVX Calmar Ratio Rank: 38
VMFVX Martin Ratio Rank: 37

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.

VASVX vs. VMFVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Selected Value Fund (VASVX) and Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX). 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.

	VASVX	VMFVX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.33	+0.13
Sortino ratio: Return per unit of downside risk	2.23	2.04	+0.20
Omega ratio: Gain probability vs. loss probability	1.26	1.24	+0.02
Calmar ratio: Return relative to maximum drawdown	1.91	1.89	+0.03
Martin ratio: Return relative to average drawdown	6.24	6.53	-0.29

VASVX vs. VMFVX - Sharpe Ratio Comparison

The current VASVX Sharpe Ratio is 1.46, which is comparable to the VMFVX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of VASVX and VMFVX, 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

VASVX vs. VMFVX - Drawdown Comparison

The maximum VASVX drawdown since its inception was -55.70%, which is greater than VMFVX's maximum drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for VASVX and VMFVX.

Drawdown Indicators

	VASVX	VMFVX	Difference
Max Drawdown Largest peak-to-trough decline	-55.70%	-45.79%	-9.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-10.52%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-25.98%	-22.46%	-3.52%
Max Drawdown (5Y) Largest decline over 5 years	-25.98%	-22.46%	-3.52%
Max Drawdown (10Y) Largest decline over 10 years	-48.19%	-45.79%	-2.40%
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-9.50%	-5.45%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.04%	+0.56%

Volatility

VASVX vs. VMFVX - Volatility Comparison

Vanguard Selected Value Fund (VASVX) has a higher volatility of 3.53% compared to Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) at 3.05%. This indicates that VASVX's price experiences larger fluctuations and is considered to be riskier than VMFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VASVX	VMFVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.05%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	11.18%	10.45%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	15.05%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	19.35%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	21.80%	+0.55%

VASVX vs. VMFVX - Expense Ratio Comparison

VASVX has a 0.32% expense ratio, which is higher than VMFVX's 0.08% expense ratio.

Dividends

VASVX vs. VMFVX - Dividend Comparison

VASVX's dividend yield for the trailing twelve months is around 11.71%, more than VMFVX's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VASVX Vanguard Selected Value Fund	11.71%	13.32%	14.35%	8.29%	13.22%	7.77%	10.19%	7.44%	11.90%	8.59%	4.51%	5.68%
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares	1.67%	1.88%	1.81%	1.58%	2.04%	1.81%	2.48%	1.94%	2.01%	1.56%	1.42%	1.73%

Frequently Asked Questions

Can I hold both VASVX and VMFVX in my portfolio?

With a correlation of 0.92, VASVX and VMFVX 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, VASVX or VMFVX?

VASVX has higher volatility (3.53%) compared to VMFVX (3.05%). In terms of maximum drawdown, VASVX dropped -55.70% vs VMFVX's -45.79%.

Which has better risk-adjusted returns?

VASVX currently has the higher Sharpe Ratio (1.46 vs 1.33), 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.