VENAX vs. EIPIX

Last updated Jun 24, 2026

VENAX (Vanguard Energy Index Fund Admiral Shares) and EIPIX (EIP Growth and Income Fund (NEW)) are both Energy Equities funds. Over the past 5 years, VENAX returned 18.73%/yr vs 15.82%/yr for EIPIX. A 0.72 correlation means they provide meaningful diversification when combined. VENAX charges 0.10%/yr vs 1.25%/yr for EIPIX.

Performance

VENAX vs. EIPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, VENAX achieves a 22.81% return, which is significantly higher than EIPIX's 16.29% return.

VENAX

• 1D: 1.29%
• 1M: -8.51%
• YTD: 22.81%
• 6M: 23.30%
• 1Y: 30.20%
• 3Y*: 15.91%
• 5Y*: 18.73%
• 10Y*: 8.77%

EIPIX

• 1D: 0.56%
• 1M: -3.35%
• YTD: 16.29%
• 6M: 16.08%
• 1Y: 21.71%
• 3Y*: 20.66%
• 5Y*: 15.82%
• 10Y*: —

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

VENAX vs. EIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VENAX Vanguard Energy Index Fund Admiral Shares	22.81%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%
EIPIX EIP Growth and Income Fund (NEW)	16.29%	11.31%	26.74%	6.25%	16.19%	21.80%	-9.85%	23.09%	-11.68%	-0.68%

Correlation

The correlation between VENAX and EIPIX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016	0.72

The correlation between VENAX and EIPIX shifts across timeframes, from 0.61 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VENAX vs. EIPIX — Risk / Return Rank

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

VENAX

VENAX Risk / Return Rank: 24
VENAX Sharpe Ratio Rank: 24
VENAX Sortino Ratio Rank: 21
VENAX Omega Ratio Rank: 20
VENAX Calmar Ratio Rank: 29
VENAX Martin Ratio Rank: 27

EIPIX

EIPIX Risk / Return Rank: 72
EIPIX Sharpe Ratio Rank: 64
EIPIX Sortino Ratio Rank: 71
EIPIX Omega Ratio Rank: 52
EIPIX Calmar Ratio Rank: 93
EIPIX Martin Ratio Rank: 80

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. EIPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Index Fund Admiral Shares (VENAX) and EIP Growth and Income Fund (NEW) (EIPIX). 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.

	VENAX	EIPIX	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.16	-0.86
Sortino ratio: Return per unit of downside risk	1.78	3.19	-1.41
Omega ratio: Gain probability vs. loss probability	1.22	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	1.89	4.76	-2.87
Martin ratio: Return relative to average drawdown	5.92	13.91	-7.99

VENAX vs. EIPIX - Sharpe Ratio Comparison

The current VENAX Sharpe Ratio is 1.29, which is lower than the EIPIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of VENAX and EIPIX, 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

VENAX vs. EIPIX - Drawdown Comparison

The maximum VENAX drawdown since its inception was -74.42%, which is greater than EIPIX's maximum drawdown of -43.98%. Use the drawdown chart below to compare losses from any high point for VENAX and EIPIX.

Drawdown Indicators

	VENAX	EIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-74.42%	-43.98%	-30.44%
Max Drawdown (1Y) Largest decline over 1 year	-14.22%	-4.51%	-9.71%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-13.00%	-8.44%
Max Drawdown (5Y) Largest decline over 5 years	-26.59%	-16.71%	-9.88%
Max Drawdown (10Y) Largest decline over 10 years	-69.58%	—	—
Current Drawdown Current decline from peak	-13.11%	-3.78%	-9.33%
Average Drawdown Average peak-to-trough decline	-19.96%	-5.01%	-14.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	1.54%	+3.04%

Volatility

VENAX vs. EIPIX - Volatility Comparison

Vanguard Energy Index Fund Admiral Shares (VENAX) has a higher volatility of 7.05% compared to EIP Growth and Income Fund (NEW) (EIPIX) at 3.22%. This indicates that VENAX's price experiences larger fluctuations and is considered to be riskier than EIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VENAX	EIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	3.22%	+3.83%
Volatility (6M) Calculated over the trailing 6-month period	16.66%	7.72%	+8.94%
Volatility (1Y) Calculated over the trailing 1-year period	20.86%	9.97%	+10.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.40%	15.60%	+10.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.26%	18.69%	+11.57%

VENAX vs. EIPIX - Expense Ratio Comparison

VENAX has a 0.10% expense ratio, which is lower than EIPIX's 1.25% expense ratio.

Dividends

VENAX vs. EIPIX - Dividend Comparison

VENAX's dividend yield for the trailing twelve months is around 2.56%, less than EIPIX's 13.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPIX EIP Growth and Income Fund (NEW)	13.52%	15.71%	7.60%	4.09%	25.10%	3.44%	4.02%	3.44%	3.45%	1.77%	0.78%	0.00%
VENAX Vanguard Energy Index Fund Admiral Shares	2.56%	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 EIPIX in my portfolio?

VENAX and EIPIX have a correlation of 0.61, 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 EIPIX?

VENAX has higher volatility (7.05%) compared to EIPIX (3.22%). In terms of maximum drawdown, VENAX dropped -74.42% vs EIPIX's -43.98%.

Which has better risk-adjusted returns?

EIPIX currently has the higher Sharpe Ratio (2.16 vs 1.29), 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.