VFINX vs. VIGIX

Last updated Jun 5, 2026

VFINX (Vanguard 500 Index Fund Investor Shares) and VIGIX (Vanguard Growth Index Fund Institutional Shares) are both mutual funds - VFINX is a Large Cap Blend Equities fund managed by Vanguard, while VIGIX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 10 years, VFINX returned 15.43%/yr vs 18.25%/yr for VIGIX. With a 0.96 correlation, they move nearly in lockstep. VFINX charges 0.14%/yr vs 0.04%/yr for VIGIX.

Performance

VFINX vs. VIGIX - Performance Comparison

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

Returns By Period

In the year-to-date period, VFINX achieves a 10.82% return, which is significantly higher than VIGIX's 9.47% return. Over the past 10 years, VFINX has underperformed VIGIX with an annualized return of 15.43%, while VIGIX has yielded a comparatively higher 18.25% annualized return.

VFINX

• 1D: -0.74%
• 1M: 4.16%
• YTD: 10.82%
• 6M: 10.72%
• 1Y: 27.86%
• 3Y*: 22.29%
• 5Y*: 13.76%
• 10Y*: 15.43%

VIGIX

• 1D: -1.23%
• 1M: 5.47%
• YTD: 9.47%
• 6M: 8.60%
• 1Y: 27.36%
• 3Y*: 25.95%
• 5Y*: 15.10%
• 10Y*: 18.25%

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

VFINX vs. VIGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFINX Vanguard 500 Index Fund Investor Shares	10.82%	17.71%	24.84%	26.12%	-18.24%	28.53%	18.20%	31.33%	-4.55%	21.66%
VIGIX Vanguard Growth Index Fund Institutional Shares	9.47%	19.44%	32.68%	46.77%	-33.13%	27.27%	40.19%	37.26%	-3.34%	27.81%

Correlation

The correlation between VFINX and VIGIX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 15, 1998	0.96

The correlation between VFINX and VIGIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

VFINX vs. VIGIX — Risk / Return Rank

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

VFINX

VFINX Risk / Return Rank: 65
VFINX Sharpe Ratio Rank: 63
VFINX Sortino Ratio Rank: 58
VFINX Omega Ratio Rank: 59
VFINX Calmar Ratio Rank: 66
VFINX Martin Ratio Rank: 78

VIGIX

VIGIX Risk / Return Rank: 30
VIGIX Sharpe Ratio Rank: 37
VIGIX Sortino Ratio Rank: 33
VIGIX Omega Ratio Rank: 33
VIGIX Calmar Ratio Rank: 21
VIGIX Martin Ratio Rank: 24

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. VIGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard 500 Index Fund Investor Shares (VFINX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). 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.

	VFINX	VIGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	1.76	+0.60
Sortino ratio: Return per unit of downside risk	3.22	2.40	+0.82
Omega ratio: Gain probability vs. loss probability	1.43	1.31	+0.12
Calmar ratio: Return relative to maximum drawdown	3.14	1.70	+1.44
Martin ratio: Return relative to average drawdown	14.66	5.96	+8.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VFINX vs. VIGIX - Sharpe Ratio Comparison

The current VFINX Sharpe Ratio is 2.36, which is higher than the VIGIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of VFINX and VIGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VFINX	VIGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.76	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.68	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.85	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.47	+0.14

Drawdowns

VFINX vs. VIGIX - Drawdown Comparison

The maximum VFINX drawdown since its inception was -55.25%, roughly equal to the maximum VIGIX drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for VFINX and VIGIX.

Drawdown Indicators

	VFINX	VIGIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.25%	-56.95%	+1.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-16.51%	+7.59%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-23.03%	+4.27%
Max Drawdown (5Y) Largest decline over 5 years	-24.59%	-35.62%	+11.03%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-35.62%	+1.79%
Current Drawdown Current decline from peak	-0.74%	-1.51%	+0.77%
Average Drawdown Average peak-to-trough decline	-8.28%	-16.27%	+7.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	4.68%	-2.77%

Volatility

VFINX vs. VIGIX - Volatility Comparison

The current volatility for Vanguard 500 Index Fund Investor Shares (VFINX) is 2.93%, while Vanguard Growth Index Fund Institutional Shares (VIGIX) has a volatility of 3.92%. This indicates that VFINX experiences smaller price fluctuations and is considered to be less risky than VIGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFINX	VIGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	3.92%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	8.99%	12.17%	-3.18%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	15.92%	-4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.90%	22.35%	-5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	21.59%	-3.52%

VFINX vs. VIGIX - Expense Ratio Comparison

VFINX has a 0.14% expense ratio, which is higher than VIGIX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VFINX vs. VIGIX - Dividend Comparison

VFINX's dividend yield for the trailing twelve months is around 0.93%, more than VIGIX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFINX Vanguard 500 Index Fund Investor Shares	0.93%	1.02%	1.14%	1.36%	1.57%	1.15%	1.45%	1.77%	1.94%	1.69%	1.92%	1.99%
VIGIX Vanguard Growth Index Fund Institutional Shares	0.37%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.15%	1.40%	1.31%

Frequently Asked Questions

Can I hold both VFINX and VIGIX in my portfolio?

With a correlation of 0.93, VFINX and VIGIX 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.

Which is riskier, VFINX or VIGIX?

VIGIX has higher volatility (3.92%) compared to VFINX (2.93%). In terms of maximum drawdown, VFINX dropped -55.25% vs VIGIX's -56.95%.

Which has better risk-adjusted returns?

VFINX currently has the higher Sharpe Ratio (2.36 vs 1.76), 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.