VGIAX vs. USVM

Last updated Jun 4, 2026

VGIAX (Vanguard Growth and Income Fund Admiral Shares) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both funds - VGIAX is a Large Cap Blend Equities fund managed by Vanguard, while USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index. Over the past 5 years, VGIAX returned 14.27%/yr vs 9.74%/yr for USVM. A 0.80 correlation means they provide meaningful diversification when combined. VGIAX charges 0.22%/yr vs 0.29%/yr for USVM.

Performance

VGIAX vs. USVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Growth and Income Fund Admiral Shares (VGIAX) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGIAX achieves a 10.47% return, which is significantly lower than USVM's 15.26% return.

VGIAX

• 1D: 0.06%
• 1M: 5.79%
• YTD: 10.47%
• 6M: 10.77%
• 1Y: 28.81%
• 3Y*: 23.19%
• 5Y*: 14.27%
• 10Y*: 15.41%

USVM

• 1D: -0.40%
• 1M: 2.60%
• YTD: 15.26%
• 6M: 15.00%
• 1Y: 30.42%
• 3Y*: 19.79%
• 5Y*: 9.74%
• 10Y*: —

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

VGIAX vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGIAX Vanguard Growth and Income Fund Admiral Shares	10.47%	19.26%	25.84%	24.83%	-17.18%	28.86%	18.04%	29.77%	-4.61%	4.07%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	15.26%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.21%

Correlation

The correlation between VGIAX and USVM 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	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.80

The correlation between VGIAX and USVM shifts across timeframes, from 0.68 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

VGIAX vs. USVM - Sectors Allocation Comparison

Sectors	VGIAX	USVM
Technology	30.6%	11.6%
Financial Services	12.5%	22.0%
Consumer Cyclical	11.2%	11.1%
Healthcare	10.6%	11.0%
Communication Services	10.1%	2.8%
Industrials	8.9%	12.1%
Energy	5.8%	4.4%
Consumer Defensive	3.6%	5.0%
Basic Materials	2.9%	1.8%
Utilities	2.4%	6.4%
Real Estate	1.6%	11.9%

Return for Risk

VGIAX vs. USVM — Risk / Return Rank

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

VGIAX

VGIAX Risk / Return Rank: 63
VGIAX Sharpe Ratio Rank: 65
VGIAX Sortino Ratio Rank: 57
VGIAX Omega Ratio Rank: 57
VGIAX Calmar Ratio Rank: 63
VGIAX Martin Ratio Rank: 72

USVM

USVM Risk / Return Rank: 65
USVM Sharpe Ratio Rank: 60
USVM Sortino Ratio Rank: 63
USVM Omega Ratio Rank: 57
USVM Calmar Ratio Rank: 73
USVM Martin Ratio Rank: 73

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.

VGIAX vs. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth and Income Fund Admiral Shares (VGIAX) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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.

	VGIAX	USVM	Difference
Sharpe ratio Return per unit of total volatility	2.37	2.05	+0.32
Sortino ratio Return per unit of downside risk	3.20	2.98	+0.22
Omega ratio Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio Return relative to maximum drawdown	3.05	3.66	-0.61
Martin ratio Return relative to average drawdown	13.76	13.76	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGIAX vs. USVM - Sharpe Ratio Comparison

The current VGIAX Sharpe Ratio is 2.37, which is comparable to the USVM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of VGIAX and USVM, 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

	VGIAX	USVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.05	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.50	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.49	-0.01

Drawdowns

VGIAX vs. USVM - Drawdown Comparison

The maximum VGIAX drawdown since its inception was -56.85%, which is greater than USVM's maximum drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for VGIAX and USVM.

Drawdown Indicators

	VGIAX	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-56.85%	-42.38%	-14.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-8.36%	-1.37%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-24.34%	+4.68%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-25.27%	+1.97%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	—	—
Current Drawdown Current decline from peak	0.00%	-0.57%	+0.57%
Average Drawdown Average peak-to-trough decline	-9.34%	-7.90%	-1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.22%	-0.07%

Volatility

VGIAX vs. USVM - Volatility Comparison

The current volatility for Vanguard Growth and Income Fund Admiral Shares (VGIAX) is 3.03%, while VictoryShares US Small Mid Cap Value Momentum ETF (USVM) has a volatility of 4.50%. This indicates that VGIAX experiences smaller price fluctuations and is considered to be less risky than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIAX	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	4.50%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	10.73%	-1.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	14.93%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	19.65%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	22.01%	-3.80%

VGIAX vs. USVM - Expense Ratio Comparison

VGIAX has a 0.22% expense ratio, which is lower than USVM's 0.29% expense ratio.

Dividends

VGIAX vs. USVM - Dividend Comparison

VGIAX's dividend yield for the trailing twelve months is around 9.71%, more than USVM's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.76%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%
VGIAX Vanguard Growth and Income Fund Admiral Shares	9.71%	10.72%	11.67%	8.70%	9.81%	15.28%	6.63%	4.19%	8.05%	5.06%	7.01%	7.72%

Frequently Asked Questions

Can I hold both VGIAX and USVM in my portfolio?

VGIAX and USVM 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, VGIAX or USVM?

USVM has higher volatility (4.50%) compared to VGIAX (3.03%). In terms of maximum drawdown, VGIAX dropped -56.85% vs USVM's -42.38%.

Which has better risk-adjusted returns?

VGIAX currently has the higher Sharpe Ratio (2.37 vs 2.05), 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.