VENAX vs. AWTAX

Last updated Jun 4, 2026

VENAX (Vanguard Energy Index Fund Admiral Shares) and AWTAX (Virtus Water Fund) are both Energy Equities funds. Over the past 10 years, VENAX returned 9.50%/yr vs 7.17%/yr for AWTAX. A 0.54 correlation means they provide meaningful diversification when combined. VENAX charges 0.10%/yr vs 1.22%/yr for AWTAX.

Performance

VENAX vs. AWTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy Index Fund Admiral Shares (VENAX) and Virtus Water Fund (AWTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VENAX achieves a 30.74% return, which is significantly higher than AWTAX's -3.74% return. Over the past 10 years, VENAX has outperformed AWTAX with an annualized return of 9.50%, while AWTAX has yielded a comparatively lower 7.17% annualized return.

VENAX

• 1D: 1.15%
• 1M: -3.23%
• YTD: 30.74%
• 6M: 27.90%
• 1Y: 43.96%
• 3Y*: 17.52%
• 5Y*: 20.23%
• 10Y*: 9.50%

AWTAX

• 1D: 0.83%
• 1M: -3.74%
• YTD: -3.74%
• 6M: -5.55%
• 1Y: -1.30%
• 3Y*: 6.71%
• 5Y*: 2.29%
• 10Y*: 7.17%

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

VENAX vs. AWTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VENAX Vanguard Energy Index Fund Admiral Shares	30.74%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%
AWTAX Virtus Water Fund	-3.74%	11.87%	5.25%	11.99%	-21.01%	25.39%	16.68%	32.78%	-12.50%	21.99%

Correlation

The correlation between VENAX and AWTAX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Apr 1, 2008	0.54

The correlation between VENAX and AWTAX shifts across timeframes, from -0.02 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VENAX vs. AWTAX — Risk / Return Rank

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

VENAX

VENAX Risk / Return Rank: 58
VENAX Sharpe Ratio Rank: 59
VENAX Sortino Ratio Rank: 48
VENAX Omega Ratio Rank: 45
VENAX Calmar Ratio Rank: 84
VENAX Martin Ratio Rank: 57

AWTAX

AWTAX Risk / Return Rank: 2
AWTAX Sharpe Ratio Rank: 2
AWTAX Sortino Ratio Rank: 2
AWTAX Omega Ratio Rank: 2
AWTAX Calmar Ratio Rank: 2
AWTAX Martin Ratio Rank: 2

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.

VENAX vs. AWTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Index Fund Admiral Shares (VENAX) and Virtus Water Fund (AWTAX). 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.

	VENAX	AWTAX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	-0.06	+2.32
Sortino ratio: Return per unit of downside risk	2.90	0.01	+2.89
Omega ratio: Gain probability vs. loss probability	1.36	1.00	+0.36
Calmar ratio: Return relative to maximum drawdown	3.91	-0.06	+3.98
Martin ratio: Return relative to average drawdown	11.54	-0.17	+11.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VENAX vs. AWTAX - Sharpe Ratio Comparison

The current VENAX Sharpe Ratio is 2.26, which is higher than the AWTAX Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of VENAX and AWTAX, 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

	VENAX	AWTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	-0.06	+2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.13	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.41	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.31	-0.04

Drawdowns

VENAX vs. AWTAX - Drawdown Comparison

The maximum VENAX drawdown since its inception was -74.42%, which is greater than AWTAX's maximum drawdown of -54.12%. Use the drawdown chart below to compare losses from any high point for VENAX and AWTAX.

Drawdown Indicators

	VENAX	AWTAX	Difference
Max Drawdown Largest peak-to-trough decline	-74.42%	-54.12%	-20.30%
Max Drawdown (1Y) Largest decline over 1 year	-11.79%	-12.17%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-17.00%	-4.44%
Max Drawdown (5Y) Largest decline over 5 years	-26.59%	-30.85%	+4.26%
Max Drawdown (10Y) Largest decline over 10 years	-69.58%	-32.78%	-36.80%
Current Drawdown Current decline from peak	-7.50%	-11.00%	+3.50%
Average Drawdown Average peak-to-trough decline	-19.98%	-9.90%	-10.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	4.56%	-0.57%

Volatility

VENAX vs. AWTAX - Volatility Comparison

Vanguard Energy Index Fund Admiral Shares (VENAX) has a higher volatility of 7.91% compared to Virtus Water Fund (AWTAX) at 4.26%. This indicates that VENAX's price experiences larger fluctuations and is considered to be riskier than AWTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VENAX	AWTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.91%	4.26%	+3.65%
Volatility (6M) Calculated over the trailing 6-month period	16.29%	10.00%	+6.29%
Volatility (1Y) Calculated over the trailing 1-year period	20.40%	13.05%	+7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.43%	17.19%	+9.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.24%	17.33%	+12.91%

VENAX vs. AWTAX - Expense Ratio Comparison

VENAX has a 0.10% expense ratio, which is lower than AWTAX's 1.22% expense ratio.

Dividends

VENAX vs. AWTAX - Dividend Comparison

VENAX's dividend yield for the trailing twelve months is around 2.40%, less than AWTAX's 12.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AWTAX Virtus Water Fund	12.39%	11.93%	7.78%	3.30%	0.42%	7.72%	1.61%	2.98%	3.71%	2.43%	0.99%	0.38%
VENAX Vanguard Energy Index Fund Admiral Shares	2.40%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both VENAX and AWTAX in my portfolio?

VENAX and AWTAX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VENAX or AWTAX?

VENAX has higher volatility (7.91%) compared to AWTAX (4.26%). In terms of maximum drawdown, VENAX dropped -74.42% vs AWTAX's -54.12%.

Which has better risk-adjusted returns?

VENAX currently has the higher Sharpe Ratio (2.26 vs -0.06), 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.