VFWSX vs. VWUSX

Last updated Jun 25, 2026

VFWSX (Vanguard FTSE All-World ex-US Index Fund Institutional Shares) and VWUSX (Vanguard U.S. Growth Fund Investor Shares) are both mutual funds - VFWSX is a Foreign Large Cap Equities fund managed by Vanguard, while VWUSX is a Large Cap Growth Equities fund actively managed by Vanguard. Over the past 10 years, VFWSX returned 10.35%/yr vs 18.99%/yr for VWUSX. A 0.76 correlation means they provide meaningful diversification when combined. VFWSX charges 0.08%/yr vs 0.35%/yr for VWUSX.

Performance

VFWSX vs. VWUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) and Vanguard U.S. Growth Fund Investor Shares (VWUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VFWSX achieves a 12.81% return, which is significantly higher than VWUSX's -1.75% return. Over the past 10 years, VFWSX has underperformed VWUSX with an annualized return of 10.35%, while VWUSX has yielded a comparatively higher 18.99% annualized return.

VFWSX

• 1D: -3.05%
• 1M: 0.49%
• YTD: 12.81%
• 6M: 12.70%
• 1Y: 28.09%
• 3Y*: 19.11%
• 5Y*: 8.57%
• 10Y*: 10.35%

VWUSX

• 1D: -1.43%
• 1M: -3.28%
• YTD: -1.75%
• 6M: -3.19%
• 1Y: 7.18%
• 3Y*: 19.05%
• 5Y*: 9.92%
• 10Y*: 18.99%

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

VFWSX vs. VWUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares	12.81%	32.38%	5.45%	15.59%	-15.48%	8.11%	11.37%	21.58%	-13.97%	27.24%
VWUSX Vanguard U.S. Growth Fund Investor Shares	-1.75%	15.39%	31.65%	45.17%	-39.64%	35.76%	58.63%	45.61%	0.65%	31.11%

Correlation

The correlation between VFWSX and VWUSX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Mar 8, 2007	0.76

The correlation between VFWSX and VWUSX shifts across timeframes, from 0.65 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VFWSX vs. VWUSX — Risk / Return Rank

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

VFWSX

VFWSX Risk / Return Rank: 52
VFWSX Sharpe Ratio Rank: 53
VFWSX Sortino Ratio Rank: 47
VFWSX Omega Ratio Rank: 54
VFWSX Calmar Ratio Rank: 55
VFWSX Martin Ratio Rank: 55

VWUSX

VWUSX Risk / Return Rank: 7
VWUSX Sharpe Ratio Rank: 7
VWUSX Sortino Ratio Rank: 7
VWUSX Omega Ratio Rank: 7
VWUSX Calmar Ratio Rank: 6
VWUSX Martin Ratio Rank: 6

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.

VFWSX vs. VWUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) and Vanguard U.S. Growth Fund Investor Shares (VWUSX). 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.

	VFWSX	VWUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	0.51	+1.43
Sortino ratio: Return per unit of downside risk	2.61	0.81	+1.81
Omega ratio: Gain probability vs. loss probability	1.36	1.10	+0.26
Calmar ratio: Return relative to maximum drawdown	2.67	0.47	+2.20
Martin ratio: Return relative to average drawdown	10.32	1.38	+8.94

VFWSX vs. VWUSX - Sharpe Ratio Comparison

The current VFWSX Sharpe Ratio is 1.94, which is higher than the VWUSX Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of VFWSX and VWUSX, 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

VFWSX vs. VWUSX - Drawdown Comparison

The maximum VFWSX drawdown since its inception was -61.60%, smaller than the maximum VWUSX drawdown of -73.31%. Use the drawdown chart below to compare losses from any high point for VFWSX and VWUSX.

Drawdown Indicators

	VFWSX	VWUSX	Difference
Max Drawdown Largest peak-to-trough decline	-61.60%	-73.31%	+11.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-19.15%	+7.81%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-25.01%	+11.75%
Max Drawdown (5Y) Largest decline over 5 years	-29.17%	-42.18%	+13.01%
Max Drawdown (10Y) Largest decline over 10 years	-34.87%	-42.18%	+7.31%
Current Drawdown Current decline from peak	-3.05%	-6.94%	+3.89%
Average Drawdown Average peak-to-trough decline	-13.21%	-22.80%	+9.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	6.54%	-3.61%

Volatility

VFWSX vs. VWUSX - Volatility Comparison

Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) and Vanguard U.S. Growth Fund Investor Shares (VWUSX) have volatilities of 6.93% and 6.84%, 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

	VFWSX	VWUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	6.84%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	13.59%	13.68%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	17.58%	-1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	26.96%	-11.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.97%	24.69%	-8.72%

VFWSX vs. VWUSX - Expense Ratio Comparison

VFWSX has a 0.08% expense ratio, which is lower than VWUSX's 0.35% expense ratio.

Dividends

VFWSX vs. VWUSX - Dividend Comparison

VFWSX's dividend yield for the trailing twelve months is around 2.56%, less than VWUSX's 9.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares	2.56%	3.08%	3.23%	3.31%	3.10%	3.06%	1.99%	3.10%	3.28%	2.67%	2.97%	2.97%
VWUSX Vanguard U.S. Growth Fund Investor Shares	9.54%	9.37%	4.60%	0.28%	0.37%	30.03%	3.90%	11.66%	9.65%	4.63%	1.52%	8.95%

Frequently Asked Questions

Can I hold both VFWSX and VWUSX in my portfolio?

VFWSX and VWUSX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFWSX or VWUSX?

VFWSX has higher volatility (6.93%) compared to VWUSX (6.84%). In terms of maximum drawdown, VFWSX dropped -61.60% vs VWUSX's -73.31%.

Which has better risk-adjusted returns?

VFWSX currently has the higher Sharpe Ratio (1.94 vs 0.51), 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.