VCDAX vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Consumer Discretionary Index Fund Admiral Shares (VCDAX) and State Street SPDR S&P 500 ETF (SPY).

VCDAX is managed by Vanguard. It was launched on Jul 14, 2005. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

VCDAX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Consumer Discretionary Index Fund Admiral Shares (VCDAX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

VCDAX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCDAX Vanguard Consumer Discretionary Index Fund Admiral Shares	-11.49%	5.66%	24.37%	40.40%	-35.17%	26.20%	48.18%	27.55%	-2.26%	22.83%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Returns By Period

In the year-to-date period, VCDAX achieves a -11.49% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, VCDAX has underperformed SPY with an annualized return of 12.22%, while SPY has yielded a comparatively higher 13.98% annualized return.

VCDAX

• 1D: -0.09%
• 1M: -9.29%
• YTD: -11.49%
• 6M: -11.89%
• 1Y: 7.62%
• 3Y*: 12.15%
• 5Y*: 4.48%
• 10Y*: 12.22%

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

VCDAX vs. SPY - Expense Ratio Comparison

VCDAX has a 0.10% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VCDAX

Vanguard Consumer Discretionary Index Fund Admiral Shares

SPY

State Street SPDR S&P 500 ETF

Return for Risk

VCDAX vs. SPY — Risk / Return Rank

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

VCDAX

VCDAX Risk / Return Rank: 13
VCDAX Sharpe Ratio Rank: 13
VCDAX Sortino Ratio Rank: 15
VCDAX Omega Ratio Rank: 13
VCDAX Calmar Ratio Rank: 11
VCDAX Martin Ratio Rank: 11

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

VCDAX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Consumer Discretionary Index Fund Admiral Shares (VCDAX) and State Street SPDR S&P 500 ETF (SPY). 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.

	VCDAX	SPY	Difference
Sharpe ratio Return per unit of total volatility	0.31	0.93	-0.62
Sortino ratio Return per unit of downside risk	0.64	1.45	-0.81
Omega ratio Gain probability vs. loss probability	1.08	1.22	-0.14
Calmar ratio Return relative to maximum drawdown	0.27	1.53	-1.26
Martin ratio Return relative to average drawdown	0.90	7.30	-6.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCDAX vs. SPY - Sharpe Ratio Comparison

The current VCDAX Sharpe Ratio is 0.31, which is lower than the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of VCDAX and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VCDAX	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	0.93	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.69	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.78	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.56	-0.08

Correlation

The correlation between VCDAX and SPY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VCDAX vs. SPY - Dividend Comparison

VCDAX's dividend yield for the trailing twelve months is around 0.82%, less than SPY's 1.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VCDAX Vanguard Consumer Discretionary Index Fund Admiral Shares	0.82%	0.74%	0.74%	0.84%	0.98%	1.82%	1.71%	1.17%	1.37%	1.21%	1.60%	1.33%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

VCDAX vs. SPY - Drawdown Comparison

The maximum VCDAX drawdown since its inception was -61.66%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VCDAX and SPY.

Drawdown Indicators

	VCDAX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-61.66%	-55.19%	-6.47%
Max Drawdown (1Y) Largest decline over 1 year	-15.57%	-12.05%	-3.52%
Max Drawdown (5Y) Largest decline over 5 years	-38.51%	-24.50%	-14.01%
Max Drawdown (10Y) Largest decline over 10 years	-38.51%	-33.72%	-4.79%
Current Drawdown Current decline from peak	-15.57%	-6.24%	-9.33%
Average Drawdown Average peak-to-trough decline	-9.33%	-9.09%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	2.52%	+2.14%

Volatility

VCDAX vs. SPY - Volatility Comparison

Vanguard Consumer Discretionary Index Fund Admiral Shares (VCDAX) has a higher volatility of 6.47% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that VCDAX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCDAX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.47%	5.31%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	9.47%	+4.07%
Volatility (1Y) Calculated over the trailing 1-year period	24.06%	19.05%	+5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.91%	17.06%	+6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	17.92%	+4.48%