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VGELX vs. VIIIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGELX vs. VIIIX

Last updated Aug 3, 2026
Documentation

VGELX (Vanguard Energy Opportunities Fund Admiral Shares) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - VGELX is a Energy Equities fund actively managed by Vanguard, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. VGELX is actively managed, while VIIIX is passively managed. Over the past 10 years, VGELX returned 9.86%/yr vs 15.07%/yr for VIIIX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. VGELX charges 0.37%/yr vs 0.02%/yr for VIIIX.

Performance

VGELX vs. VIIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy Opportunities Fund Admiral Shares (VGELX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VGELX achieves a 22.90% return, which is significantly higher than VIIIX's 9.35% return. Over the past 10 years, VGELX has underperformed VIIIX with an annualized return of 9.86%, while VIIIX has yielded a comparatively higher 15.07% annualized return.

VGELX

1D
0.65%
1M
5.58%
6M
13.69%
YTD
22.90%
1Y
32.82%
3Y*
25.70%
5Y*
23.85%
10Y*
9.86%
ALL TIME*
9.06%

VIIIX

1D
1.66%
1M
-0.56%
6M
7.79%
YTD
9.35%
1Y
20.63%
3Y*
19.44%
5Y*
12.83%
10Y*
15.07%
ALL TIME*
9.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VGELX

Vanguard Energy Opportunities Fund Admiral Shares
$0.00$0.00$0.00

VIIIX

Vanguard Institutional Index Fund Institutional Plus Shares
$0.00$0.00$0.00

VGELX vs. VIIIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGELX
Vanguard Energy Opportunities Fund Admiral Shares		22.90%20.76%30.46%8.87%23.70%27.80%-30.80%13.32%-17.12%3.31%
VIIIX
Vanguard Institutional Index Fund Institutional Plus Shares		9.35%17.87%26.29%25.79%-18.14%28.69%18.41%31.48%-4.41%21.82%

Correlation

The correlation between VGELX and VIIIX is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.01

Correlation (3Y)
Balances recent behavior with more history.

0.23

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.40

Correlation (10Y)
Provides a long-term view across more market conditions.

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2001

0.63

The correlation between VGELX and VIIIX shifts across timeframes, from -0.01 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

VGELX vs. VIIIX - Sectors Allocation Comparison

Sectors
VGELX
VIIIX

Energy

57.0%
3.0%

Utilities

41.9%
2.2%

Basic Materials

1.1%
1.7%

Financial Services

0.0%
11.4%

Real Estate

0.0%
1.8%

Communication Services

-

9.9%

Consumer Cyclical

-

9.5%

Consumer Defensive

-

4.5%

Healthcare

-

8.9%

Industrials

-

8.5%

Technology

-

38.6%

Energy

VGELX
57.0%
VIIIX
3.0%

Utilities

VGELX
41.9%
VIIIX
2.2%

Basic Materials

VGELX
1.1%
VIIIX
1.7%

Financial Services

VGELX
0.0%
VIIIX
11.4%

Real Estate

VGELX
0.0%
VIIIX
1.8%

Communication Services

VGELX

-

VIIIX
9.9%

Consumer Cyclical

VGELX

-

VIIIX
9.5%

Consumer Defensive

VGELX

-

VIIIX
4.5%

Healthcare

VGELX

-

VIIIX
8.9%

Industrials

VGELX

-

VIIIX
8.5%

Technology

VGELX

-

VIIIX
38.6%

Compare stocks, funds, or ETFs

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Vanguard Energy Opportunities Fund Admiral Shares

Vanguard Institutional Index Fund Institutional Plus Shares

Often compared with VGELX:
VGELX vs. VGENXVGELX vs. VDEVGELX vs. VDEQXVGELX vs. BTEKVGELX vs. XLEVGELX vs. FDVVVGELX vs. QQQ
Often compared with VIIIX:
VIIIX vs. VIGIXVIIIX vs. SPYVIIIX vs. OIEJXVIIIX vs. VTSNXVIIIX vs. VTIVIIIX vs. VEMPXVIIIX vs. VFIFX

Return for Risk

VGELX vs. VIIIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VGELX
VGELX Risk / Return Rank: 9191
Overall Rank
VGELX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
VGELX Sortino Ratio Rank: 9090
Sortino Ratio Rank
VGELX Omega Ratio Rank: 8787
Omega Ratio Rank
VGELX Calmar Ratio Rank: 9393
Calmar Ratio Rank
VGELX Martin Ratio Rank: 9191
Martin Ratio Rank
VIIIX
VIIIX Risk / Return Rank: 6363
Overall Rank
VIIIX Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
VIIIX Sortino Ratio Rank: 5858
Sortino Ratio Rank
VIIIX Omega Ratio Rank: 5858
Omega Ratio Rank
VIIIX Calmar Ratio Rank: 6565
Calmar Ratio Rank
VIIIX Martin Ratio Rank: 7676
Martin Ratio Rank
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.

VGELX vs. VIIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Opportunities Fund Admiral Shares (VGELX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.

VGELXVIIIXDifference
Sharpe ratioReturn per unit of total volatility
2.51
1.43

+1.08

Sortino ratioReturn per unit of downside risk
3.39
2.00

+1.39

Omega ratioGain probability vs. loss probability

1.43

1.26

+0.18

Calmar ratioReturn relative to maximum drawdown

3.71

2.06

+1.65

Martin ratioReturn relative to average drawdown

12.36

8.86

+3.50

VGELX vs. VIIIX - Sharpe Ratio Comparison

The current VGELX Sharpe Ratio is 2.51, which is higher than the VIIIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of VGELX and VIIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VGELX vs. VIIIX - Drawdown Comparison

The maximum VGELX drawdown since its inception was -65.22%, which is greater than VIIIX's maximum drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for VGELX and VIIIX.

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Drawdown Indicators

VGELXVIIIXDifference

Max Drawdown

Largest peak-to-trough decline

-65.22%

-55.18%

-10.04%

Max Drawdown (1Y)

Largest decline over 1 year

-8.75%

-8.90%

+0.15%

Max Drawdown (3Y)

Largest decline over 3 years

-12.30%

-18.75%

+6.45%

Max Drawdown (5Y)

Largest decline over 5 years

-19.72%

-24.50%

+4.78%

Max Drawdown (10Y)

Largest decline over 10 years

-61.13%

-33.79%

-27.34%

Current Drawdown

Current decline from peak

-1.99%

-2.11%

+0.12%

Average Drawdown

Average peak-to-trough decline

-19.05%

-9.97%

-9.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.62%

2.07%

+0.55%

Volatility

VGELX vs. VIIIX - Volatility Comparison

Vanguard Energy Opportunities Fund Admiral Shares (VGELX) has a higher volatility of 4.88% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 3.44%. This indicates that VGELX's price experiences larger fluctuations and is considered to be riskier than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGELXVIIIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.88%

3.44%

+1.44%

Volatility (6M)

Calculated over the trailing 6-month period

10.80%

10.09%

+0.71%

Volatility (1Y)

Calculated over the trailing 1-year period

12.98%

12.86%

+0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.68%

17.01%

+1.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.08%

18.07%

+5.01%

VGELX vs. VIIIX - Expense Ratio Comparison

VGELX has a 0.37% expense ratio, which is higher than VIIIX's 0.02% expense ratio.

Dividends

VGELX vs. VIIIX - Dividend Comparison

VGELX's dividend yield for the trailing twelve months is around 7.03%, more than VIIIX's 2.51% yield.

PositionTTM20252024202320222021202020192018201720162015
VGELX
Vanguard Energy Opportunities Fund Admiral Shares		7.03%4.79%34.15%6.91%4.71%3.70%4.54%3.38%3.07%3.05%1.91%2.70%
VIIIX
Vanguard Institutional Index Fund Institutional Plus Shares		2.51%2.11%3.66%2.66%3.39%4.79%3.07%2.86%2.45%1.84%2.38%2.47%

Frequently Asked Questions

VGELX and VIIIX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VGELX has higher volatility (4.88%) compared to VIIIX (3.44%). In terms of maximum drawdown, VGELX dropped -65.22% vs VIIIX's -55.18%.

VGELX currently has the higher Sharpe Ratio (2.51 vs 1.43), 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.

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