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VEXRX vs. VUSXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEXRX vs. VUSXX

Last updated Jun 14, 2026

VEXRX (Vanguard Explorer Fund Admiral Shares) and VUSXX (Vanguard Treasury Money Market Fund) are both mutual funds - VEXRX is a Small Cap Growth Equities fund managed by Vanguard, while VUSXX is a Money Market fund actively managed by Vanguard. Over the past 5 years, VEXRX returned 6.50%/yr vs 1.56%/yr for VUSXX. At a correlation of -0.01, they often move in opposite directions. VEXRX charges 0.29%/yr vs 0.07%/yr for VUSXX.

Performance

VEXRX vs. VUSXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Explorer Fund Admiral Shares (VEXRX) and Vanguard Treasury Money Market Fund (VUSXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VEXRX achieves a 14.57% return, which is significantly higher than VUSXX's 1.51% return.

VEXRX

1D
3.26%
1M
3.82%
YTD
14.57%
6M
12.38%
1Y
28.65%
3Y*
16.51%
5Y*
6.50%
10Y*
13.50%

VUSXX

1D
0.00%
1M
0.31%
YTD
1.51%
6M
1.84%
1Y
3.98%
3Y*
2.61%
5Y*
1.56%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEXRX vs. VUSXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VEXRX
Vanguard Explorer Fund Admiral Shares		14.57%7.19%17.40%19.90%-23.23%6.94%
VUSXX
Vanguard Treasury Money Market Fund		1.51%4.25%1.65%0.43%0.00%0.00%

Correlation

The correlation between VEXRX and VUSXX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.02

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

-0.01

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

-0.00

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

-0.01

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Explorer Fund Admiral Shares

Vanguard Treasury Money Market Fund

Often compared with VEXRX:
VEXRX vs. VSGAXVEXRX vs. VINIXVEXRX vs. VIEIXVEXRX vs. SPYVEXRX vs. VISVXVEXRX vs. DFFVXVEXRX vs. VFIAX
Often compared with VUSXX:
VUSXX vs. VMFXXVUSXX vs. SGOVVUSXX vs. VMRXXVUSXX vs. VBILVUSXX vs. VGSHVUSXX vs. USFRVUSXX vs. VOO

Return for Risk

VEXRX vs. VUSXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEXRX
VEXRX Risk / Return Rank: 5151
Overall Rank
VEXRX Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VEXRX Sortino Ratio Rank: 4242
Sortino Ratio Rank
VEXRX Omega Ratio Rank: 3939
Omega Ratio Rank
VEXRX Calmar Ratio Rank: 6868
Calmar Ratio Rank
VEXRX Martin Ratio Rank: 6565
Martin Ratio Rank
VUSXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

VEXRX vs. VUSXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Explorer Fund Admiral Shares (VEXRX) and Vanguard Treasury Money Market Fund (VUSXX). 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.

VEXRXVUSXXDifference
Sharpe ratioReturn per unit of total volatility
1.50
3.68

-2.18

Sortino ratioReturn per unit of downside risk
2.15

—

—

Omega ratioGain probability vs. loss probability

1.26

—

—

Calmar ratioReturn relative to maximum drawdown

2.60

—

—

Martin ratioReturn relative to average drawdown

10.04

—

—

VEXRX vs. VUSXX - Sharpe Ratio Comparison

The current VEXRX Sharpe Ratio is 1.50, which is lower than the VUSXX Sharpe Ratio of 3.68. The chart below compares the historical Sharpe Ratios of VEXRX and VUSXX, 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

VEXRX vs. VUSXX - Drawdown Comparison

The maximum VEXRX drawdown since its inception was -57.26%, which is greater than VUSXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for VEXRX and VUSXX.

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Drawdown Indicators

VEXRXVUSXXDifference

Max Drawdown

Largest peak-to-trough decline

-57.26%

0.00%

-57.26%

Max Drawdown (1Y)

Largest decline over 1 year

-10.16%

0.00%

-10.16%

Max Drawdown (3Y)

Largest decline over 3 years

-24.35%

0.00%

-24.35%

Max Drawdown (5Y)

Largest decline over 5 years

-32.67%

0.00%

-32.67%

Max Drawdown (10Y)

Largest decline over 10 years

-39.86%

—

—

Current Drawdown

Current decline from peak

-0.86%

0.00%

-0.86%

Average Drawdown

Average peak-to-trough decline

-9.93%

0.00%

-9.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

0.00%

+2.63%

Volatility

VEXRX vs. VUSXX - Volatility Comparison

Vanguard Explorer Fund Admiral Shares (VEXRX) has a higher volatility of 6.31% compared to Vanguard Treasury Money Market Fund (VUSXX) at 0.31%. This indicates that VEXRX's price experiences larger fluctuations and is considered to be riskier than VUSXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VEXRXVUSXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.31%

0.31%

+6.00%

Volatility (6M)

Calculated over the trailing 6-month period

13.50%

0.79%

+12.71%

Volatility (1Y)

Calculated over the trailing 1-year period

17.65%

1.12%

+16.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.41%

0.75%

+20.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.86%

0.74%

+21.12%

VEXRX vs. VUSXX - Expense Ratio Comparison

VEXRX has a 0.29% expense ratio, which is higher than VUSXX's 0.07% expense ratio.

Dividends

VEXRX vs. VUSXX - Dividend Comparison

VEXRX's dividend yield for the trailing twelve months is around 6.58%, more than VUSXX's 3.89% yield.

PositionTTM20252024202320222021202020192018201720162015
VEXRX
Vanguard Explorer Fund Admiral Shares		6.58%7.54%12.72%0.89%5.22%16.17%6.76%5.08%11.13%11.46%4.63%10.89%
VUSXX
Vanguard Treasury Money Market Fund		3.89%4.15%1.63%0.43%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VEXRX and VUSXX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEXRX has higher volatility (6.31%) compared to VUSXX (0.31%). In terms of maximum drawdown, VEXRX dropped -57.26% vs VUSXX's 0.00%.

VUSXX currently has the higher Sharpe Ratio (3.68 vs 1.50), 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.

Portfolio Optimizer

Find the right allocation for VEXRX and VUSXX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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