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VEXAX vs. VEMPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEXAX vs. VEMPX

Last updated Aug 6, 2026
Documentation

VEXAX (Vanguard Extended Market Index Fund Admiral Shares) and VEMPX (Vanguard Extended Market Index Fund Institutional Plus Shares) are both Mid Cap Blend Equities funds from Vanguard - VEXAX tracks the S&P Completion Index while VEMPX tracks the Spliced Extended Market Index. Both are passively managed. Over the past 10 years, VEXAX returned 11.98%/yr vs 12.00%/yr for VEMPX. Their 1.00 correlation means they have historically moved very closely together. VEXAX charges 0.05%/yr vs 0.04%/yr for VEMPX.

Performance

VEXAX vs. VEMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Admiral Shares (VEXAX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with VEXAX having a 18.28% return and VEMPX slightly higher at 18.29%. Both investments have delivered pretty close results over the past 10 years, with VEXAX having a 11.98% annualized return and VEMPX not far ahead at 12.00%.

VEXAX

1D
2.31%
1M
0.48%
6M
15.46%
YTD
18.28%
1Y
26.18%
3Y*
18.48%
5Y*
6.77%
10Y*
11.98%
ALL TIME*
8.56%

VEMPX

1D
2.31%
1M
0.48%
6M
15.47%
YTD
18.29%
1Y
26.19%
3Y*
18.50%
5Y*
6.79%
10Y*
12.00%
ALL TIME*
11.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VEMPX

Vanguard Extended Market Index Fund Institutional Plus Shares
$0.00$0.00$0.00

VEXAX

Vanguard Extended Market Index Fund Admiral Shares
$0.00$0.00$0.00

VEXAX vs. VEMPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		18.28%11.42%15.47%26.95%-26.46%12.45%32.22%28.03%-9.37%18.11%
VEMPX
Vanguard Extended Market Index Fund Institutional Plus Shares		18.29%11.43%15.50%26.98%-26.45%12.48%32.24%28.06%-9.35%18.13%

Correlation

The correlation between VEXAX and VEMPX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

1.00

Correlation (3Y)
Balances recent behavior with more history.

1.00

Correlation (5Y)
Shows whether the relationship held over a longer period.

1.00

Correlation (10Y)
Provides a long-term view across more market conditions.

1.00

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2010

1.00

The correlation between VEXAX and VEMPX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

VEXAX vs. VEMPX - Sectors Allocation Comparison

Sectors
VEXAX
VEMPX

Industrials

19.6%
19.6%

Technology

19.2%
19.2%

Financial Services

13.7%
13.7%

Healthcare

13.6%
13.6%

Consumer Cyclical

8.5%
8.5%

Real Estate

5.6%
5.6%

Basic Materials

4.7%
4.7%

Energy

4.3%
4.3%

Communication Services

2.8%
2.8%

Consumer Defensive

2.6%
2.6%

Utilities

1.8%
1.8%

Industrials

VEXAX
19.6%
VEMPX
19.6%

Technology

VEXAX
19.2%
VEMPX
19.2%

Financial Services

VEXAX
13.7%
VEMPX
13.7%

Healthcare

VEXAX
13.6%
VEMPX
13.6%

Consumer Cyclical

VEXAX
8.5%
VEMPX
8.5%

Real Estate

VEXAX
5.6%
VEMPX
5.6%

Basic Materials

VEXAX
4.7%
VEMPX
4.7%

Energy

VEXAX
4.3%
VEMPX
4.3%

Communication Services

VEXAX
2.8%
VEMPX
2.8%

Consumer Defensive

VEXAX
2.6%
VEMPX
2.6%

Utilities

VEXAX
1.8%
VEMPX
1.8%

Compare stocks, funds, or ETFs

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Vanguard Extended Market Index Fund Admiral Shares

Vanguard Extended Market Index Fund Institutional Plus Shares

Often compared with VEXAX:
VEXAX vs. VIMAXVEXAX vs. VIEIXVEXAX vs. VOOVEXAX vs. VINIXVEXAX vs. VTIVEXAX vs. VEMAXVEXAX vs. VASVX
Often compared with VEMPX:
VEMPX vs. VIIIXVEMPX vs. VMVAXVEMPX vs. VTPSXVEMPX vs. SPYVEMPX vs. VMIAXVEMPX vs. VEMIXVEMPX vs. VSIAX

Return for Risk

VEXAX vs. VEMPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VEXAX
VEXAX Risk / Return Rank: 4848
Overall Rank
VEXAX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VEXAX Sortino Ratio Rank: 4141
Sortino Ratio Rank
VEXAX Omega Ratio Rank: 3636
Omega Ratio Rank
VEXAX Calmar Ratio Rank: 6666
Calmar Ratio Rank
VEXAX Martin Ratio Rank: 5656
Martin Ratio Rank
VEMPX
VEMPX Risk / Return Rank: 4848
Overall Rank
VEMPX Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VEMPX Sortino Ratio Rank: 4242
Sortino Ratio Rank
VEMPX Omega Ratio Rank: 3636
Omega Ratio Rank
VEMPX Calmar Ratio Rank: 6666
Calmar Ratio Rank
VEMPX Martin Ratio Rank: 5656
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VEXAX vs. VEMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Admiral Shares (VEXAX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX). 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.

VEXAXVEMPXDifference
Sharpe ratioReturn per unit of total volatility
1.47
1.47

0.00

Sortino ratioReturn per unit of downside risk
2.12
2.12

0.00

Omega ratioGain probability vs. loss probability

1.25

1.25

0.00

Calmar ratioReturn relative to maximum drawdown

2.55

2.55

0.00

Martin ratioReturn relative to average drawdown

8.63

8.64

0.00

VEXAX vs. VEMPX - Sharpe Ratio Comparison

The current VEXAX Sharpe Ratio is 1.47, which is comparable to the VEMPX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of VEXAX and VEMPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VEXAX vs. VEMPX - Drawdown Comparison

The maximum VEXAX drawdown since its inception was -58.08%, which is greater than VEMPX's maximum drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for VEXAX and VEMPX.

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Drawdown Indicators

VEXAXVEMPXDifference

Max Drawdown

Largest peak-to-trough decline

-58.08%

-41.62%

-16.46%

Max Drawdown (1Y)

Largest decline over 1 year

-10.25%

-10.25%

0.00%

Max Drawdown (3Y)

Largest decline over 3 years

-26.84%

-26.83%

-0.01%

Max Drawdown (5Y)

Largest decline over 5 years

-36.33%

-36.32%

-0.01%

Max Drawdown (10Y)

Largest decline over 10 years

-41.62%

-41.62%

0.00%

Current Drawdown

Current decline from peak

-0.10%

-0.10%

0.00%

Average Drawdown

Average peak-to-trough decline

-12.11%

-7.90%

-4.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

3.02%

0.00%

Volatility

VEXAX vs. VEMPX - Volatility Comparison

Vanguard Extended Market Index Fund Admiral Shares (VEXAX) and Vanguard Extended Market Index Fund Institutional Plus Shares (VEMPX) have volatilities of 4.91% and 4.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEXAXVEMPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.91%

4.90%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

13.50%

13.49%

+0.01%

Volatility (1Y)

Calculated over the trailing 1-year period

17.90%

17.89%

+0.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.45%

22.45%

0.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.37%

22.36%

+0.01%

VEXAX vs. VEMPX - Expense Ratio Comparison

VEXAX has a 0.05% expense ratio, which is higher than VEMPX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEXAX vs. VEMPX - Dividend Comparison

VEXAX's dividend yield for the trailing twelve months is around 0.99%, which matches VEMPX's 1.00% yield.

PositionTTM20252024202320222021202020192018201720162015
VEMPX
Vanguard Extended Market Index Fund Institutional Plus Shares		1.00%1.15%1.11%1.27%1.17%1.15%1.09%1.32%1.68%1.27%1.46%1.39%
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		0.99%1.14%1.09%1.25%1.15%1.13%1.07%1.30%1.66%1.25%1.43%1.35%

Frequently Asked Questions

With a correlation of 1.00, VEXAX and VEMPX 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.

VEXAX has higher volatility (4.91%) compared to VEMPX (4.90%). In terms of maximum drawdown, VEXAX dropped -58.08% vs VEMPX's -41.62%.

VEMPX currently has the higher Sharpe Ratio (1.47 vs 1.47), 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.

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