VGENX vs. VGELX

Last updated Jun 3, 2026

VGENX (Vanguard Energy Fund Investor Shares) and VGELX (Vanguard Energy Fund Admiral Shares) are both Energy Equities funds from Vanguard. Over the past 10 years, VGENX returned 9.30%/yr vs 9.40%/yr for VGELX. With a 1.00 correlation, they move nearly in lockstep. VGENX charges 0.41%/yr vs 0.33%/yr for VGELX.

Performance

VGENX vs. VGELX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VGENX having a 18.56% return and VGELX slightly higher at 18.62%. Both investments have delivered pretty close results over the past 10 years, with VGENX having a 9.30% annualized return and VGELX not far ahead at 9.40%.

VGENX

• 1D: 0.30%
• 1M: -4.52%
• YTD: 18.56%
• 6M: 17.84%
• 1Y: 31.44%
• 3Y*: 27.63%
• 5Y*: 21.74%
• 10Y*: 9.30%

VGELX

• 1D: 0.30%
• 1M: -4.49%
• YTD: 18.62%
• 6M: 17.89%
• 1Y: 31.57%
• 3Y*: 27.77%
• 5Y*: 21.86%
• 10Y*: 9.40%

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

VGENX vs. VGELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGENX Vanguard Energy Fund Investor Shares	18.56%	20.67%	30.25%	8.78%	23.59%	27.71%	-30.85%	13.23%	-17.19%	3.22%
VGELX Vanguard Energy Fund Admiral Shares	18.62%	20.76%	30.46%	8.87%	23.70%	27.80%	-30.80%	13.32%	-17.12%	3.31%

Correlation

The correlation between VGENX and VGELX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001	1.00

The correlation between VGENX and VGELX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

VGENX vs. VGELX - Sectors Allocation Comparison

Sectors	VGENX	VGELX
Energy	56.5%	56.5%
Utilities	40.8%	40.8%
Basic Materials	1.1%	1.1%
Financial Services	0.0%	0.0%
Real Estate	0.0%	0.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-

Return for Risk

VGENX vs. VGELX — Risk / Return Rank

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

VGENX

VGENX Risk / Return Rank: 84
VGENX Sharpe Ratio Rank: 84
VGENX Sortino Ratio Rank: 77
VGENX Omega Ratio Rank: 72
VGENX Calmar Ratio Rank: 95
VGENX Martin Ratio Rank: 93

VGELX

VGELX Risk / Return Rank: 85
VGELX Sharpe Ratio Rank: 85
VGELX Sortino Ratio Rank: 78
VGELX Omega Ratio Rank: 73
VGELX Calmar Ratio Rank: 95
VGELX Martin Ratio Rank: 93

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.

VGENX vs. VGELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Fund Investor Shares (VGENX) and Vanguard Energy Fund Admiral Shares (VGELX). 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.

	VGENX	VGELX	Difference
Sharpe ratio Return per unit of total volatility	2.72	2.73	-0.02
Sortino ratio Return per unit of downside risk	3.70	3.72	-0.02
Omega ratio Gain probability vs. loss probability	1.48	1.48	0.00
Calmar ratio Return relative to maximum drawdown	5.77	5.81	-0.04
Martin ratio Return relative to average drawdown	20.21	20.33	-0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGENX vs. VGELX - Sharpe Ratio Comparison

The current VGENX Sharpe Ratio is 2.72, which is comparable to the VGELX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of VGENX and VGELX, 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

	VGENX	VGELX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	2.73	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	1.17	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.41	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.35	+0.09

Drawdowns

VGENX vs. VGELX - Drawdown Comparison

The maximum VGENX drawdown since its inception was -65.37%, roughly equal to the maximum VGELX drawdown of -65.22%. Use the drawdown chart below to compare losses from any high point for VGENX and VGELX.

Drawdown Indicators

	VGENX	VGELX	Difference
Max Drawdown Largest peak-to-trough decline	-65.37%	-65.22%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-5.69%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-12.30%	-12.30%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-19.72%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-61.19%	-61.13%	-0.06%
Current Drawdown Current decline from peak	-5.43%	-5.41%	-0.02%
Average Drawdown Average peak-to-trough decline	-14.94%	-19.15%	+4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.63%	0.00%

Volatility

VGENX vs. VGELX - Volatility Comparison

Vanguard Energy Fund Investor Shares (VGENX) and Vanguard Energy Fund Admiral Shares (VGELX) have volatilities of 4.75% and 4.74%, 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

	VGENX	VGELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	4.74%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	10.14%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	12.08%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	18.72%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.20%	23.21%	-0.01%

VGENX vs. VGELX - Expense Ratio Comparison

VGENX has a 0.41% expense ratio, which is higher than VGELX's 0.33% expense ratio.

Dividends

VGENX vs. VGELX - Dividend Comparison

VGENX's dividend yield for the trailing twelve months is around 7.23%, which matches VGELX's 7.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGELX Vanguard Energy Fund Admiral Shares	7.28%	4.79%	34.15%	6.91%	4.71%	3.70%	4.54%	3.38%	3.07%	3.05%	1.91%	2.70%
VGENX Vanguard Energy Fund Investor Shares	7.23%	4.71%	33.96%	6.83%	4.63%	3.63%	4.46%	3.30%	2.96%	2.96%	1.84%	2.63%

Frequently Asked Questions

Can I hold both VGENX and VGELX in my portfolio?

With a correlation of 1.00, VGENX and VGELX 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, VGENX or VGELX?

VGENX has higher volatility (4.75%) compared to VGELX (4.74%). In terms of maximum drawdown, VGENX dropped -65.37% vs VGELX's -65.22%.

Which has better risk-adjusted returns?

VGELX currently has the higher Sharpe Ratio (2.73 vs 2.72), 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.