VEXMX vs. USMIX
VEXMX (Vanguard Extended Market Index Fund) and USMIX (USAA Extended Market Index Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, VEXMX returned 11.46%/yr vs 11.58%/yr for USMIX. Their 0.98 correlation means they have historically moved very closely together. VEXMX charges 0.19%/yr vs 0.38%/yr for USMIX.
Performance
VEXMX vs. USMIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VEXMX having a 13.88% return and USMIX slightly higher at 14.54%. Both investments have delivered pretty close results over the past 10 years, with VEXMX having a 11.46% annualized return and USMIX not far ahead at 11.58%.
VEXMX
- 1D
- 1.41%
- 1M
- -2.64%
- 6M
- 11.23%
- YTD
- 13.88%
- 1Y
- 23.60%
- 3Y*
- 15.61%
- 5Y*
- 5.93%
- 10Y*
- 11.46%
- ALL TIME*
- 10.81%
USMIX
- 1D
- 0.74%
- 1M
- -0.85%
- 6M
- 10.00%
- YTD
- 14.54%
- 1Y
- 27.62%
- 3Y*
- 14.44%
- 5Y*
- 6.30%
- 10Y*
- 11.58%
- ALL TIME*
- 8.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VEXMX vs. USMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEXMX Vanguard Extended Market Index Fund | 13.88% | 10.93% | 15.05% | 26.79% | -26.56% | 12.31% | 32.43% | 27.87% | -9.48% | 17.94% |
USMIX USAA Extended Market Index Fund | 14.54% | 10.44% | 11.99% | 25.81% | -24.04% | 15.29% | 31.20% | 27.93% | -9.71% | 17.72% |
Correlation
The correlation between VEXMX and USMIX is 0.96 - 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. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2000 | 0.98 |
The correlation between VEXMX and USMIX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
VEXMX vs. USMIX — Risk / Return Rank
VEXMX
USMIX
VEXMX vs. USMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund (VEXMX) and USAA Extended Market Index Fund (USMIX). 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.
| VEXMX | USMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.47 | -0.47 |
| Martin ratioReturn relative to average drawdown | 6.79 | 9.02 | -2.23 |
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Drawdowns
VEXMX vs. USMIX - Drawdown Comparison
The maximum VEXMX drawdown since its inception was -58.17%, roughly equal to the maximum USMIX drawdown of -57.91%. Use the drawdown chart below to compare losses from any high point for VEXMX and USMIX.
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Drawdown Indicators
| VEXMX | USMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -57.91% | -0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -9.97% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -27.09% | -31.84% | +4.75% |
Max Drawdown (5Y)Largest decline over 5 years | -36.38% | -37.86% | +1.48% |
Max Drawdown (10Y)Largest decline over 10 years | -41.63% | -41.86% | +0.23% |
Current DrawdownCurrent decline from peak | -3.76% | -1.33% | -2.43% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -11.93% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.73% | +0.29% |
Volatility
VEXMX vs. USMIX - Volatility Comparison
Vanguard Extended Market Index Fund (VEXMX) has a higher volatility of 3.90% compared to USAA Extended Market Index Fund (USMIX) at 3.25%. This indicates that VEXMX's price experiences larger fluctuations and is considered to be riskier than USMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEXMX | USMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 3.25% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 11.77% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 16.60% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 24.94% | -2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 23.62% | -1.25% |
VEXMX vs. USMIX - Expense Ratio Comparison
VEXMX has a 0.19% expense ratio, which is lower than USMIX's 0.38% expense ratio.
Dividends
VEXMX vs. USMIX - Dividend Comparison
VEXMX's dividend yield for the trailing twelve months is around 0.90%, less than USMIX's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USMIX USAA Extended Market Index Fund | 5.65% | 6.47% | 14.41% | 4.41% | 8.78% | 17.98% | 3.32% | 3.18% | 6.48% | 7.48% | 7.07% | 8.02% |
VEXMX Vanguard Extended Market Index Fund | 0.90% | 0.74% | 0.74% | 1.14% | 1.00% | 0.99% | 1.19% | 1.18% | 1.52% | 1.12% | 1.31% | 1.20% |
Frequently Asked Questions
With a correlation of 0.96, VEXMX and USMIX 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.
VEXMX has higher volatility (3.90%) compared to USMIX (3.25%). In terms of maximum drawdown, VEXMX dropped -58.17% vs USMIX's -57.91%.
USMIX currently has the higher Sharpe Ratio (1.48 vs 1.15), 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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