VEIPX vs. VGRIX

Last updated Jun 4, 2026

VEIPX (Vanguard Equity Income Fund Investor Shares) and VGRIX (JPMorgan U.S. Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, VEIPX returned 11.85%/yr vs 12.03%/yr for VGRIX. Their correlation of 0.91 suggests significant overlap in exposure. VEIPX charges 0.28%/yr vs 0.94%/yr for VGRIX.

Performance

VEIPX vs. VGRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Equity Income Fund Investor Shares (VEIPX) and JPMorgan U.S. Value Fund (VGRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VEIPX having a 9.70% return and VGRIX slightly lower at 9.25%. Both investments have delivered pretty close results over the past 10 years, with VEIPX having a 11.85% annualized return and VGRIX not far ahead at 12.03%.

VEIPX

• 1D: 0.79%
• 1M: 2.94%
• YTD: 9.70%
• 6M: 9.81%
• 1Y: 23.43%
• 3Y*: 17.52%
• 5Y*: 11.01%
• 10Y*: 11.85%

VGRIX

• 1D: 0.64%
• 1M: 2.00%
• YTD: 9.25%
• 6M: 10.18%
• 1Y: 22.23%
• 3Y*: 16.17%
• 5Y*: 10.13%
• 10Y*: 12.03%

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

VEIPX vs. VGRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEIPX Vanguard Equity Income Fund Investor Shares	9.70%	17.14%	14.80%	7.66%	-0.16%	25.41%	2.97%	25.21%	-5.75%	17.60%
VGRIX JPMorgan U.S. Value Fund	9.25%	13.64%	16.17%	9.18%	-2.56%	26.83%	4.27%	27.84%	-7.71%	17.13%

Correlation

The correlation between VEIPX and VGRIX is 0.91, 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	0.91
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 Mar 22, 1988	0.91

The correlation between VEIPX and VGRIX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

VEIPX vs. VGRIX — Risk / Return Rank

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

VEIPX

VEIPX Risk / Return Rank: 67
VEIPX Sharpe Ratio Rank: 66
VEIPX Sortino Ratio Rank: 65
VEIPX Omega Ratio Rank: 60
VEIPX Calmar Ratio Rank: 75
VEIPX Martin Ratio Rank: 66

VGRIX

VGRIX Risk / Return Rank: 57
VGRIX Sharpe Ratio Rank: 55
VGRIX Sortino Ratio Rank: 55
VGRIX Omega Ratio Rank: 51
VGRIX Calmar Ratio Rank: 64
VGRIX Martin Ratio Rank: 61

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.

VEIPX vs. VGRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Investor Shares (VEIPX) and JPMorgan U.S. Value Fund (VGRIX). 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.

	VEIPX	VGRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.19	+0.19
Sortino ratio: Return per unit of downside risk	3.38	3.14	+0.24
Omega ratio: Gain probability vs. loss probability	1.43	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	3.42	3.08	+0.34
Martin ratio: Return relative to average drawdown	12.78	12.03	+0.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEIPX vs. VGRIX - Sharpe Ratio Comparison

The current VEIPX Sharpe Ratio is 2.38, which is comparable to the VGRIX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of VEIPX and VGRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VEIPX	VGRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.19	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.71	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.70	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.65	+0.01

Drawdowns

VEIPX vs. VGRIX - Drawdown Comparison

The maximum VEIPX drawdown since its inception was -54.12%, smaller than the maximum VGRIX drawdown of -58.30%. Use the drawdown chart below to compare losses from any high point for VEIPX and VGRIX.

Drawdown Indicators

	VEIPX	VGRIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.12%	-58.30%	+4.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-7.48%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-13.39%	-14.47%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	-15.16%	-15.36%	+0.20%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-38.59%	+3.33%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.50%	-7.83%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.91%	0.00%

Volatility

VEIPX vs. VGRIX - Volatility Comparison

Vanguard Equity Income Fund Investor Shares (VEIPX) has a higher volatility of 2.83% compared to JPMorgan U.S. Value Fund (VGRIX) at 2.44%. This indicates that VEIPX's price experiences larger fluctuations and is considered to be riskier than VGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEIPX	VGRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	2.44%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	7.99%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	10.50%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	14.40%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	17.33%	-1.03%

VEIPX vs. VGRIX - Expense Ratio Comparison

VEIPX has a 0.28% expense ratio, which is lower than VGRIX's 0.94% expense ratio.

Dividends

VEIPX vs. VGRIX - Dividend Comparison

VEIPX's dividend yield for the trailing twelve months is around 10.03%, more than VGRIX's 4.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEIPX Vanguard Equity Income Fund Investor Shares	10.03%	10.94%	9.74%	7.87%	8.69%	7.62%	2.77%	4.36%	10.87%	2.98%	3.78%	6.39%
VGRIX JPMorgan U.S. Value Fund	4.76%	5.20%	4.20%	1.39%	1.49%	2.74%	2.46%	3.43%	6.70%	5.30%	6.18%	7.23%

Frequently Asked Questions

Can I hold both VEIPX and VGRIX in my portfolio?

With a correlation of 0.91, VEIPX and VGRIX 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, VEIPX or VGRIX?

VEIPX has higher volatility (2.83%) compared to VGRIX (2.44%). In terms of maximum drawdown, VEIPX dropped -54.12% vs VGRIX's -58.30%.

Which has better risk-adjusted returns?

VEIPX currently has the higher Sharpe Ratio (2.38 vs 2.19), 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.