VEXRX vs. SPY
Compare and contrast key facts about Vanguard Explorer Fund Admiral Shares (VEXRX) and State Street SPDR S&P 500 ETF (SPY).
VEXRX is managed by Vanguard. It was launched on Nov 12, 2001. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
VEXRX vs. SPY - Performance Comparison
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VEXRX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEXRX Vanguard Explorer Fund Admiral Shares | -0.08% | 7.19% | 17.40% | 19.90% | -23.23% | 16.07% | 31.51% | 31.42% | -2.34% | 22.64% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, VEXRX achieves a -0.08% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, VEXRX has underperformed SPY with an annualized return of 12.16%, while SPY has yielded a comparatively higher 14.06% annualized return.
VEXRX
- 1D
- 3.79%
- 1M
- -5.77%
- YTD
- -0.08%
- 6M
- 1.70%
- 1Y
- 17.15%
- 3Y*
- 12.10%
- 5Y*
- 4.38%
- 10Y*
- 12.16%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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VEXRX vs. SPY - Expense Ratio Comparison
VEXRX has a 0.29% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
VEXRX vs. SPY — Risk / Return Rank
VEXRX
SPY
VEXRX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Explorer Fund Admiral Shares (VEXRX) and State Street SPDR S&P 500 ETF (SPY). 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.
| VEXRX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.96 | -0.16 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.49 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.53 | -0.32 |
Martin ratioReturn relative to average drawdown | 5.07 | 7.27 | -2.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEXRX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.96 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.70 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.79 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.56 | -0.13 |
Correlation
The correlation between VEXRX and SPY is 0.88, 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.
Dividends
VEXRX vs. SPY - Dividend Comparison
VEXRX's dividend yield for the trailing twelve months is around 7.55%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEXRX Vanguard Explorer Fund Admiral Shares | 7.55% | 7.54% | 12.72% | 0.89% | 5.22% | 16.17% | 6.76% | 5.08% | 11.13% | 11.46% | 4.63% | 10.89% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
VEXRX vs. SPY - Drawdown Comparison
The maximum VEXRX drawdown since its inception was -57.26%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VEXRX and SPY.
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Drawdown Indicators
| VEXRX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.26% | -55.19% | -2.07% |
Max Drawdown (1Y)Largest decline over 1 year | -14.14% | -12.05% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -24.50% | -8.17% |
Max Drawdown (10Y)Largest decline over 10 years | -39.86% | -33.72% | -6.14% |
Current DrawdownCurrent decline from peak | -6.76% | -5.53% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -10.00% | -9.09% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 2.54% | +0.84% |
Volatility
VEXRX vs. SPY - Volatility Comparison
Vanguard Explorer Fund Admiral Shares (VEXRX) has a higher volatility of 7.50% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that VEXRX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEXRX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 5.35% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 13.17% | 9.50% | +3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 19.06% | +3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 17.06% | +4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.81% | 17.92% | +3.89% |