VEVFX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Explorer Value Fund (VEVFX) and S&P 500 Index (^GSPC).

VEVFX is managed by Vanguard. It was launched on Mar 30, 2010.

Performance

VEVFX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Explorer Value Fund (VEVFX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

VEVFX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEVFX Vanguard Explorer Value Fund	2.72%	7.40%	13.81%	15.29%	-14.11%	28.14%	3.29%	26.92%	-13.03%	12.43%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, VEVFX achieves a 2.72% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, VEVFX has underperformed ^GSPC with an annualized return of 9.16%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

VEVFX

• 1D: 2.58%
• 1M: -5.78%
• YTD: 2.72%
• 6M: 4.09%
• 1Y: 19.65%
• 3Y*: 12.32%
• 5Y*: 6.09%
• 10Y*: 9.16%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

VEVFX vs. ^GSPC — Risk / Return Rank

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

VEVFX

VEVFX Risk / Return Rank: 43
VEVFX Sharpe Ratio Rank: 39
VEVFX Sortino Ratio Rank: 43
VEVFX Omega Ratio Rank: 37
VEVFX Calmar Ratio Rank: 51
VEVFX Martin Ratio Rank: 44

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

VEVFX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Explorer Value Fund (VEVFX) and S&P 500 Index (^GSPC). 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.

	VEVFX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.88	0.92	-0.04
Sortino ratio Return per unit of downside risk	1.36	1.41	-0.05
Omega ratio Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio Return relative to maximum drawdown	1.34	1.41	-0.08
Martin ratio Return relative to average drawdown	4.70	6.61	-1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEVFX vs. ^GSPC - Sharpe Ratio Comparison

The current VEVFX Sharpe Ratio is 0.88, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VEVFX and ^GSPC, 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

	VEVFX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	0.92	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.61	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.68	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.46	+0.02

Correlation

The correlation between VEVFX and ^GSPC is 0.84, 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.

Drawdowns

VEVFX vs. ^GSPC - Drawdown Comparison

The maximum VEVFX drawdown since its inception was -47.53%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for VEVFX and ^GSPC.

Drawdown Indicators

	VEVFX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-47.53%	-56.78%	+9.25%
Max Drawdown (1Y) Largest decline over 1 year	-15.14%	-12.14%	-3.00%
Max Drawdown (5Y) Largest decline over 5 years	-27.32%	-25.43%	-1.89%
Max Drawdown (10Y) Largest decline over 10 years	-47.53%	-33.92%	-13.61%
Current Drawdown Current decline from peak	-7.43%	-5.78%	-1.65%
Average Drawdown Average peak-to-trough decline	-6.67%	-10.75%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	2.60%	+1.70%

Volatility

VEVFX vs. ^GSPC - Volatility Comparison

Vanguard Explorer Value Fund (VEVFX) has a higher volatility of 6.06% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that VEVFX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEVFX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	5.37%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	9.55%	+3.50%
Volatility (1Y) Calculated over the trailing 1-year period	23.02%	18.33%	+4.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.74%	16.90%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.47%	18.05%	+4.42%