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VEXAX vs. VSIAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEXAX vs. VSIAX

Last updated Jun 13, 2026

VEXAX (Vanguard Extended Market Index Fund Admiral Shares) and VSIAX (Vanguard Small-Cap Value Index Fund Admiral Shares) are both mutual funds - VEXAX is a Mid Cap Blend Equities fund managed by Vanguard, while VSIAX is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. Over the past 10 years, VEXAX returned 12.23%/yr vs 10.84%/yr for VSIAX. Their correlation of 0.93 suggests significant overlap in exposure. VEXAX charges 0.06%/yr vs 0.07%/yr for VSIAX.

Performance

VEXAX vs. VSIAX - 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 Small-Cap Value Index Fund Admiral Shares (VSIAX). 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 stocks are quite close, with VEXAX having a 13.86% return and VSIAX slightly lower at 13.57%. Over the past 10 years, VEXAX has outperformed VSIAX with an annualized return of 12.23%, while VSIAX has yielded a comparatively lower 10.84% annualized return.

VEXAX

1D
2.96%
1M
4.32%
YTD
13.86%
6M
11.70%
1Y
27.36%
3Y*
18.98%
5Y*
6.06%
10Y*
12.23%

VSIAX

1D
2.03%
1M
4.01%
YTD
13.57%
6M
11.91%
1Y
26.77%
3Y*
16.20%
5Y*
8.17%
10Y*
10.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEXAX vs. VSIAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		13.86%11.42%15.47%26.95%-26.46%12.45%32.22%28.03%-9.37%18.11%
VSIAX
Vanguard Small-Cap Value Index Fund Admiral Shares		13.57%9.09%11.34%17.06%-9.31%28.10%5.80%22.76%-12.24%11.80%

Correlation

The correlation between VEXAX and VSIAX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.89

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2011

0.93

The correlation between VEXAX and VSIAX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

VEXAX vs. VSIAX - Sectors Allocation Comparison

Sectors
VEXAX
VSIAX

Technology

19.8%
10.6%

Industrials

19.3%
18.1%

Financial Services

14.6%
17.6%

Healthcare

13.3%
7.9%

Consumer Cyclical

9.7%
12.4%

Real Estate

6.0%
10.1%

Energy

5.1%
5.2%

Basic Materials

4.2%
6.3%

Communication Services

3.3%
2.5%

Consumer Defensive

2.7%
4.0%

Utilities

2.0%
4.8%

Technology

VEXAX
19.8%
VSIAX
10.6%

Industrials

VEXAX
19.3%
VSIAX
18.1%

Financial Services

VEXAX
14.6%
VSIAX
17.6%

Healthcare

VEXAX
13.3%
VSIAX
7.9%

Consumer Cyclical

VEXAX
9.7%
VSIAX
12.4%

Real Estate

VEXAX
6.0%
VSIAX
10.1%

Energy

VEXAX
5.1%
VSIAX
5.2%

Basic Materials

VEXAX
4.2%
VSIAX
6.3%

Communication Services

VEXAX
3.3%
VSIAX
2.5%

Consumer Defensive

VEXAX
2.7%
VSIAX
4.0%

Utilities

VEXAX
2.0%
VSIAX
4.8%

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Vanguard Extended Market Index Fund Admiral Shares

Vanguard Small-Cap Value Index Fund Admiral Shares

Often compared with VEXAX:
VEXAX vs. VIMAXVEXAX vs. VIEIXVEXAX vs. VOOVEXAX vs. VTIVEXAX vs. VEMAXVEXAX vs. VINIXVEXAX vs. VASVX
Often compared with VSIAX:
VSIAX vs. VBRVSIAX vs. VSGAXVSIAX vs. VINIXVSIAX vs. VSIIXVSIAX vs. VOOVSIAX vs. SWSSXVSIAX vs. VIOV

Return for Risk

VEXAX vs. VSIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEXAX
VEXAX Risk / Return Rank: 5151
Overall Rank
VEXAX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
VEXAX Sortino Ratio Rank: 4343
Sortino Ratio Rank
VEXAX Omega Ratio Rank: 3939
Omega Ratio Rank
VEXAX Calmar Ratio Rank: 7070
Calmar Ratio Rank
VEXAX Martin Ratio Rank: 5858
Martin Ratio Rank
VSIAX
VSIAX Risk / Return Rank: 6464
Overall Rank
VSIAX Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
VSIAX Sortino Ratio Rank: 6363
Sortino Ratio Rank
VSIAX Omega Ratio Rank: 5050
Omega Ratio Rank
VSIAX Calmar Ratio Rank: 8080
Calmar Ratio Rank
VSIAX Martin Ratio Rank: 7272
Martin Ratio Rank
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.

VEXAX vs. VSIAX - 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 Small-Cap Value Index Fund Admiral Shares (VSIAX). 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.

VEXAXVSIAXDifference
Sharpe ratioReturn per unit of total volatility
1.53
1.74

-0.21

Sortino ratioReturn per unit of downside risk
2.16
2.57

-0.41

Omega ratioGain probability vs. loss probability

1.26

1.30

-0.04

Calmar ratioReturn relative to maximum drawdown

2.65

3.02

-0.36

Martin ratioReturn relative to average drawdown

9.32

10.71

-1.39

VEXAX vs. VSIAX - Sharpe Ratio Comparison

The current VEXAX Sharpe Ratio is 1.53, which is comparable to the VSIAX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of VEXAX and VSIAX, 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. VSIAX - Drawdown Comparison

The maximum VEXAX drawdown since its inception was -58.08%, which is greater than VSIAX's maximum drawdown of -45.39%. Use the drawdown chart below to compare losses from any high point for VEXAX and VSIAX.

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Drawdown Indicators

VEXAXVSIAXDifference

Max Drawdown

Largest peak-to-trough decline

-58.08%

-45.39%

-12.69%

Max Drawdown (1Y)

Largest decline over 1 year

-10.25%

-8.87%

-1.38%

Max Drawdown (3Y)

Largest decline over 3 years

-26.84%

-24.09%

-2.75%

Max Drawdown (5Y)

Largest decline over 5 years

-36.33%

-24.09%

-12.24%

Max Drawdown (10Y)

Largest decline over 10 years

-41.62%

-45.39%

+3.77%

Current Drawdown

Current decline from peak

-1.04%

0.00%

-1.04%

Average Drawdown

Average peak-to-trough decline

-12.17%

-5.48%

-6.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

2.50%

+0.42%

Volatility

VEXAX vs. VSIAX - Volatility Comparison

Vanguard Extended Market Index Fund Admiral Shares (VEXAX) has a higher volatility of 6.48% compared to Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) at 4.44%. This indicates that VEXAX's price experiences larger fluctuations and is considered to be riskier than VSIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEXAXVSIAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.48%

4.44%

+2.04%

Volatility (6M)

Calculated over the trailing 6-month period

13.35%

10.78%

+2.57%

Volatility (1Y)

Calculated over the trailing 1-year period

17.81%

15.38%

+2.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.43%

19.80%

+2.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.40%

22.46%

-0.06%

VEXAX vs. VSIAX - Expense Ratio Comparison

VEXAX has a 0.06% expense ratio, which is lower than VSIAX's 0.07% 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%.

Dividends

VEXAX vs. VSIAX - Dividend Comparison

VEXAX's dividend yield for the trailing twelve months is around 1.02%, less than VSIAX's 1.73% yield.

PositionTTM20252024202320222021202020192018201720162015
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		1.02%1.14%1.09%1.25%1.15%1.13%1.07%1.30%1.66%1.25%1.43%1.35%
VSIAX
Vanguard Small-Cap Value Index Fund Admiral Shares		1.73%1.95%1.98%2.10%2.03%1.75%1.68%2.06%2.35%1.79%1.77%1.99%

Frequently Asked Questions

VEXAX and VSIAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEXAX has higher volatility (6.48%) compared to VSIAX (4.44%). In terms of maximum drawdown, VEXAX dropped -58.08% vs VSIAX's -45.39%.

VSIAX currently has the higher Sharpe Ratio (1.74 vs 1.53), 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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