VFSAX vs. VIGAX

Last updated Aug 2, 2026

VFSAX (Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both mutual funds - VFSAX is a Foreign Small & Mid Cap Equities fund managed by Vanguard, while VIGAX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 5 years, VFSAX returned 4.93%/yr vs 11.90%/yr for VIGAX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. VFSAX charges 0.16%/yr vs 0.05%/yr for VIGAX.

Performance

VFSAX vs. VIGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares (VFSAX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFSAX achieves a 5.46% return, which is significantly higher than VIGAX's 3.80% return.

VFSAX

• 1D: 1.89%
• 1M: -2.42%
• 6M: -0.76%
• YTD: 5.46%
• 1Y: 16.33%
• 3Y*: 12.71%
• 5Y*: 4.93%
• 10Y*: —
• ALL TIME*: 8.35%

VIGAX

• 1D: 2.71%
• 1M: -1.61%
• 6M: 5.19%
• YTD: 3.80%
• 1Y: 14.04%
• 3Y*: 20.59%
• 5Y*: 11.90%
• 10Y*: 17.14%
• ALL TIME*: 9.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VFSAX Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares	$0.00	$0.00	$0.00
VIGAX Vanguard Growth Index Fund Admiral Shares	$0.00	$0.00	$0.00

VFSAX vs. VIGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VFSAX Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares	5.46%	29.89%	2.58%	15.13%	-21.30%	12.68%	11.90%	13.47%
VIGAX Vanguard Growth Index Fund Admiral Shares	3.80%	19.43%	32.67%	46.76%	-33.14%	27.26%	40.18%	23.98%

Correlation

The correlation between VFSAX and VIGAX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019	0.70

The correlation between VFSAX and VIGAX has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.

VFSAX vs. VIGAX - Sectors Allocation Comparison

Sectors	VFSAX	VIGAX
Industrials	19.2%	5.3%
Technology	14.6%	56.2%
Basic Materials	12.0%	0.5%
Financial Services	10.6%	3.8%
Consumer Cyclical	9.1%	11.5%
Real Estate	7.1%	1.0%
Healthcare	6.0%	4.7%
Energy	4.0%	0.3%
Consumer Defensive	3.6%	1.4%
Utilities	2.3%	0.7%
Communication Services	2.1%	15.4%

Return for Risk

VFSAX vs. VIGAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VFSAX

VFSAX Risk / Return Rank: 33
VFSAX Sharpe Ratio Rank: 34
VFSAX Sortino Ratio Rank: 33
VFSAX Omega Ratio Rank: 34
VFSAX Calmar Ratio Rank: 32
VFSAX Martin Ratio Rank: 30

VIGAX

VIGAX Risk / Return Rank: 18
VIGAX Sharpe Ratio Rank: 18
VIGAX Sortino Ratio Rank: 19
VIGAX Omega Ratio Rank: 19
VIGAX Calmar Ratio Rank: 15
VIGAX Martin Ratio Rank: 17

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VFSAX vs. VIGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares (VFSAX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). 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.

	VFSAX	VIGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.66	+0.40
Sortino ratio: Return per unit of downside risk	1.52	1.01	+0.50
Omega ratio: Gain probability vs. loss probability	1.20	1.12	+0.07
Calmar ratio: Return relative to maximum drawdown	1.36	0.71	+0.65
Martin ratio: Return relative to average drawdown	4.35	2.26	+2.10

VFSAX vs. VIGAX - Sharpe Ratio Comparison

The current VFSAX Sharpe Ratio is 1.05, which is higher than the VIGAX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of VFSAX and VIGAX, 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

VFSAX vs. VIGAX - Drawdown Comparison

The maximum VFSAX drawdown since its inception was -39.86%, smaller than the maximum VIGAX drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for VFSAX and VIGAX.

Drawdown Indicators

	VFSAX	VIGAX	Difference
Max Drawdown Largest peak-to-trough decline	-39.86%	-50.66%	+10.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-16.51%	+5.03%
Max Drawdown (3Y) Largest decline over 3 years	-14.73%	-23.04%	+8.31%
Max Drawdown (5Y) Largest decline over 5 years	-33.81%	-35.63%	+1.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.63%	—
Current Drawdown Current decline from peak	-6.62%	-6.60%	-0.02%
Average Drawdown Average peak-to-trough decline	-9.16%	-11.92%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	5.16%	-1.58%

Volatility

VFSAX vs. VIGAX - Volatility Comparison

The current volatility for Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares (VFSAX) is 5.02%, while Vanguard Growth Index Fund Admiral Shares (VIGAX) has a volatility of 5.41%. This indicates that VFSAX experiences smaller price fluctuations and is considered to be less risky than VIGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFSAX	VIGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	5.41%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	14.24%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	17.76%	-2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	22.62%	-7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	21.69%	-4.63%

VFSAX vs. VIGAX - Expense Ratio Comparison

VFSAX has a 0.16% expense ratio, which is higher than VIGAX's 0.05% 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

VFSAX vs. VIGAX - Dividend Comparison

VFSAX's dividend yield for the trailing twelve months is around 3.24%, more than VIGAX's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFSAX Vanguard FTSE All-World ex-US Small-Cap Index Fund Admiral Shares	3.24%	3.31%	3.36%	3.06%	2.22%	2.67%	1.85%	3.19%	0.00%	0.00%	0.00%	0.00%
VIGAX Vanguard Growth Index Fund Admiral Shares	0.39%	0.40%	0.46%	0.57%	0.69%	0.47%	0.66%	0.94%	1.31%	1.14%	1.39%	1.31%

Frequently Asked Questions

Can I hold both VFSAX and VIGAX in my portfolio?

VFSAX and VIGAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFSAX or VIGAX?

VIGAX has higher volatility (5.41%) compared to VFSAX (5.02%). In terms of maximum drawdown, VFSAX dropped -39.86% vs VIGAX's -50.66%.

Which has better risk-adjusted returns?

VFSAX currently has the higher Sharpe Ratio (1.05 vs 0.66), 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.