VFINX vs. MOAT

Last updated Jun 12, 2026

VFINX (Vanguard 500 Index Fund Investor Shares) and MOAT (VanEck Morningstar Wide Moat ETF) are both Large Cap Blend Equities funds - VFINX tracks the S&P 500 Index while MOAT tracks the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, VFINX returned 15.00%/yr vs 13.35%/yr for MOAT. Their correlation of 0.87 suggests significant overlap in exposure. VFINX charges 0.14%/yr vs 0.47%/yr for MOAT.

Performance

VFINX vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard 500 Index Fund Investor Shares (VFINX) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFINX achieves a 6.66% return, which is significantly higher than MOAT's -1.06% return. Over the past 10 years, VFINX has outperformed MOAT with an annualized return of 15.00%, while MOAT has yielded a comparatively lower 13.35% annualized return.

VFINX

• 1D: -1.62%
• 1M: -1.70%
• YTD: 6.66%
• 6M: 5.86%
• 1Y: 21.97%
• 3Y*: 20.58%
• 5Y*: 12.79%
• 10Y*: 15.00%

MOAT

• 1D: 1.16%
• 1M: 2.54%
• YTD: -1.06%
• 6M: -2.38%
• 1Y: 12.21%
• 3Y*: 10.67%
• 5Y*: 7.69%
• 10Y*: 13.35%

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

VFINX vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFINX Vanguard 500 Index Fund Investor Shares	6.66%	17.71%	24.84%	26.12%	-18.24%	28.53%	18.20%	31.33%	-4.55%	21.66%
MOAT VanEck Morningstar Wide Moat ETF	-1.06%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between VFINX and MOAT is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 25, 2012	0.87

The correlation between VFINX and MOAT shifts across timeframes, from 0.70 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

VFINX vs. MOAT — Risk / Return Rank

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

VFINX

VFINX Risk / Return Rank: 53
VFINX Sharpe Ratio Rank: 50
VFINX Sortino Ratio Rank: 46
VFINX Omega Ratio Rank: 49
VFINX Calmar Ratio Rank: 53
VFINX Martin Ratio Rank: 68

MOAT

MOAT Risk / Return Rank: 28
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

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.

VFINX vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 500 Index Fund Investor Shares (VFINX) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	VFINX	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	1.77	0.88	+0.89
Sortino ratio: Return per unit of downside risk	2.42	1.35	+1.07
Omega ratio: Gain probability vs. loss probability	1.32	1.15	+0.17
Calmar ratio: Return relative to maximum drawdown	2.44	0.99	+1.45
Martin ratio: Return relative to average drawdown	11.11	3.02	+8.09

VFINX vs. MOAT - Sharpe Ratio Comparison

The current VFINX Sharpe Ratio is 1.77, which is higher than the MOAT Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of VFINX and MOAT, 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

VFINX vs. MOAT - Drawdown Comparison

The maximum VFINX drawdown since its inception was -55.25%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for VFINX and MOAT.

Drawdown Indicators

	VFINX	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-55.25%	-33.31%	-21.94%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-12.43%	+3.51%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-21.44%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	-24.59%	-23.96%	-0.63%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-33.31%	-0.52%
Current Drawdown Current decline from peak	-4.46%	-4.84%	+0.38%
Average Drawdown Average peak-to-trough decline	-8.28%	-3.83%	-4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	4.05%	-2.10%

Volatility

VFINX vs. MOAT - Volatility Comparison

Vanguard 500 Index Fund Investor Shares (VFINX) and VanEck Morningstar Wide Moat ETF (MOAT) have volatilities of 4.04% and 4.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFINX	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	4.16%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	10.04%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	13.94%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.96%	18.21%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	18.69%	-0.60%

VFINX vs. MOAT - Expense Ratio Comparison

VFINX has a 0.14% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

VFINX vs. MOAT - Dividend Comparison

VFINX's dividend yield for the trailing twelve months is around 0.97%, less than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
VFINX Vanguard 500 Index Fund Investor Shares	0.97%	1.02%	1.14%	1.36%	1.57%	1.15%	1.45%	1.77%	1.94%	1.69%	1.92%	1.99%

Frequently Asked Questions

Can I hold both VFINX and MOAT in my portfolio?

VFINX and MOAT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFINX or MOAT?

MOAT has higher volatility (4.16%) compared to VFINX (4.04%). In terms of maximum drawdown, VFINX dropped -55.25% vs MOAT's -33.31%.

Which has better risk-adjusted returns?

VFINX currently has the higher Sharpe Ratio (1.77 vs 0.88), 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.