VFIAX vs. MSTR

Last updated Jun 14, 2026

VFIAX (Vanguard 500 Index Fund Admiral Shares) is S&P 500 fund tracking the S&P 500 Index, while MSTR (Strategy Inc) is a stock. Over the past 10 years, VFIAX returned 15.40%/yr vs 20.92%/yr for MSTR. At a 0.48 correlation, their price movements are largely independent.

Performance

VFIAX vs. MSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 500 Index Fund Admiral Shares (VFIAX) and Strategy Inc (MSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFIAX achieves a 8.58% return, which is significantly higher than MSTR's -18.41% return. Over the past 10 years, VFIAX has underperformed MSTR with an annualized return of 15.40%, while MSTR has yielded a comparatively higher 20.92% annualized return.

VFIAX

• 1D: 1.75%
• 1M: -1.31%
• YTD: 8.58%
• 6M: 8.92%
• 1Y: 25.15%
• 3Y*: 21.03%
• 5Y*: 13.30%
• 10Y*: 15.40%

MSTR

• 1D: 3.18%
• 1M: -33.70%
• YTD: -18.41%
• 6M: -29.74%
• 1Y: -67.62%
• 3Y*: 63.46%
• 5Y*: 19.14%
• 10Y*: 20.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VFIAX vs. MSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFIAX Vanguard 500 Index Fund Admiral Shares	8.58%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%
MSTR Strategy Inc	-18.41%	-47.53%	358.54%	346.15%	-74.00%	40.13%	172.42%	11.65%	-2.70%	-33.49%

Correlation

The correlation between VFIAX and MSTR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000	0.48

The correlation between VFIAX and MSTR has been stable across timeframes, ranging from 0.42 to 0.50 - a consistent structural relationship.

Return for Risk

VFIAX vs. MSTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VFIAX

VFIAX Risk / Return Rank: 73
VFIAX Sharpe Ratio Rank: 72
VFIAX Sortino Ratio Rank: 68
VFIAX Omega Ratio Rank: 69
VFIAX Calmar Ratio Rank: 73
VFIAX Martin Ratio Rank: 83

MSTR

MSTR Risk / Return Rank: 8
MSTR Sharpe Ratio Rank: 6
MSTR Sortino Ratio Rank: 4
MSTR Omega Ratio Rank: 7
MSTR Calmar Ratio Rank: 8
MSTR Martin Ratio Rank: 13

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.

VFIAX vs. MSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 500 Index Fund Admiral Shares (VFIAX) and Strategy Inc (MSTR). 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.

	VFIAX	MSTR	Difference
Sharpe ratio: Return per unit of total volatility	1.97	-0.95	+2.92
Sortino ratio: Return per unit of downside risk	2.67	-1.71	+4.38
Omega ratio: Gain probability vs. loss probability	1.36	0.82	+0.54
Calmar ratio: Return relative to maximum drawdown	2.73	-0.88	+3.62
Martin ratio: Return relative to average drawdown	12.43	-1.27	+13.70

VFIAX vs. MSTR - Sharpe Ratio Comparison

The current VFIAX Sharpe Ratio is 1.97, which is higher than the MSTR Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of VFIAX and MSTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VFIAX vs. MSTR - Drawdown Comparison

The maximum VFIAX drawdown since its inception was -55.20%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for VFIAX and MSTR.

Drawdown Indicators

	VFIAX	MSTR	Difference
Max Drawdown Largest peak-to-trough decline	-55.20%	-99.86%	+44.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-76.53%	+67.63%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-77.42%	+58.67%
Max Drawdown (5Y) Largest decline over 5 years	-24.53%	-84.11%	+59.58%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-89.27%	+55.44%
Current Drawdown Current decline from peak	-2.79%	-73.84%	+71.05%
Average Drawdown Average peak-to-trough decline	-9.39%	-86.45%	+77.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	53.01%	-51.06%

Volatility

VFIAX vs. MSTR - Volatility Comparison

The current volatility for Vanguard 500 Index Fund Admiral Shares (VFIAX) is 4.43%, while Strategy Inc (MSTR) has a volatility of 21.60%. This indicates that VFIAX experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFIAX	MSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	21.60%	-17.17%
Volatility (6M) Calculated over the trailing 6-month period	9.70%	57.34%	-47.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	71.15%	-58.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	90.79%	-73.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	73.80%	-55.70%

Dividends

VFIAX vs. MSTR - Dividend Comparison

VFIAX's dividend yield for the trailing twelve months is around 1.04%, while MSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTR Strategy Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.04%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both VFIAX and MSTR in my portfolio?

VFIAX and MSTR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFIAX or MSTR?

MSTR has higher volatility (21.60%) compared to VFIAX (4.43%). In terms of maximum drawdown, VFIAX dropped -55.20% vs MSTR's -99.86%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (1.97 vs -0.95), 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.