VEMPX vs. SPY
Compare and contrast key facts about Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) and State Street SPDR S&P 500 ETF (SPY).
VEMPX is managed by Vanguard. It was launched on Jan 14, 2011. 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
VEMPX vs. SPY - Performance Comparison
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VEMPX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares | -4.53% | 11.43% | 15.50% | 26.98% | -26.45% | 12.48% | 32.24% | 28.06% | -9.35% | 18.13% |
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
The year-to-date returns for both investments are quite close, with VEMPX having a -4.53% return and SPY slightly higher at -4.37%. Over the past 10 years, VEMPX has underperformed SPY with an annualized return of 10.57%, while SPY has yielded a comparatively higher 13.98% annualized return.
VEMPX
- 1D
- -1.03%
- 1M
- -7.75%
- YTD
- -4.53%
- 6M
- -4.38%
- 1Y
- 16.81%
- 3Y*
- 13.80%
- 5Y*
- 3.67%
- 10Y*
- 10.57%
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%
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VEMPX vs. SPY - Expense Ratio Comparison
VEMPX has a 0.04% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VEMPX vs. SPY — Risk / Return Rank
VEMPX
SPY
VEMPX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) 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.
| VEMPX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.93 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.16 | 1.45 | -0.29 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.95 | 1.53 | -0.58 |
Martin ratioReturn relative to average drawdown | 3.92 | 7.30 | -3.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEMPX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.93 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.69 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.78 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.56 | -0.07 |
Correlation
The correlation between VEMPX and SPY is 0.88, 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
VEMPX vs. SPY - Dividend Comparison
VEMPX's dividend yield for the trailing twelve months is around 1.23%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEMPX Vanguard Extended Market Index Fund Institutional Plus Shares | 1.23% | 1.15% | 1.11% | 1.27% | 1.17% | 1.15% | 1.09% | 1.32% | 1.68% | 1.27% | 1.46% | 1.39% |
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
VEMPX vs. SPY - Drawdown Comparison
The maximum VEMPX drawdown since its inception was -41.62%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VEMPX and SPY.
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Drawdown Indicators
| VEMPX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.62% | -55.19% | +13.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -12.05% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -24.50% | -11.82% |
Max Drawdown (10Y)Largest decline over 10 years | -41.62% | -33.72% | -7.90% |
Current DrawdownCurrent decline from peak | -10.25% | -6.24% | -4.01% |
Average DrawdownAverage peak-to-trough decline | -8.04% | -9.09% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 2.52% | +1.02% |
Volatility
VEMPX vs. SPY - Volatility Comparison
Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) has a higher volatility of 6.02% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that VEMPX'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.
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Volatility by Period
| VEMPX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.02% | 5.31% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 9.47% | +3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.79% | 19.05% | +3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.33% | 17.06% | +5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 17.92% | +4.38% |