VGIAX vs. VENAX

Last updated Jun 4, 2026

VGIAX (Vanguard Growth and Income Fund Admiral Shares) and VENAX (Vanguard Energy Index Fund Admiral Shares) are both mutual funds - VGIAX is a Large Cap Blend Equities fund managed by Vanguard, while VENAX is a Energy Equities fund managed by Vanguard. Over the past 10 years, VGIAX returned 15.41%/yr vs 9.50%/yr for VENAX. A 0.60 correlation means they provide meaningful diversification when combined. VGIAX charges 0.22%/yr vs 0.10%/yr for VENAX.

Performance

VGIAX vs. VENAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Growth and Income Fund Admiral Shares (VGIAX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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 VENAX's 30.74% return. Over the past 10 years, VGIAX has outperformed VENAX with an annualized return of 15.41%, while VENAX has yielded a comparatively lower 9.50% annualized 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%

VENAX

• 1D: 1.15%
• 1M: -3.23%
• YTD: 30.74%
• 6M: 27.90%
• 1Y: 43.96%
• 3Y*: 17.52%
• 5Y*: 20.23%
• 10Y*: 9.50%

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

VGIAX vs. VENAX - 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%	19.87%
VENAX Vanguard Energy Index Fund Admiral Shares	30.74%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%

Correlation

The correlation between VGIAX and VENAX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 30, 2004	0.60

The correlation between VGIAX and VENAX shifts across timeframes, from -0.07 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

VGIAX vs. VENAX - Sectors Allocation Comparison

Sectors	VGIAX	VENAX
Technology	30.6%	-
Financial Services	12.5%	-
Consumer Cyclical	11.2%	-
Healthcare	10.6%	-
Communication Services	10.1%	-
Industrials	8.9%	0.1%
Energy	5.8%	99.5%
Consumer Defensive	3.6%	-
Basic Materials	2.9%	0.4%
Utilities	2.4%	-
Real Estate	1.6%	-

Return for Risk

VGIAX vs. VENAX — 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

VENAX

VENAX Risk / Return Rank: 58
VENAX Sharpe Ratio Rank: 59
VENAX Sortino Ratio Rank: 48
VENAX Omega Ratio Rank: 45
VENAX Calmar Ratio Rank: 84
VENAX Martin Ratio Rank: 57

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. VENAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth and Income Fund Admiral Shares (VGIAX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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	VENAX	Difference
Sharpe ratio Return per unit of total volatility	2.37	2.26	+0.10
Sortino ratio Return per unit of downside risk	3.20	2.90	+0.30
Omega ratio Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio Return relative to maximum drawdown	3.05	3.91	-0.86
Martin ratio Return relative to average drawdown	13.76	11.54	+2.23
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. VENAX - Sharpe Ratio Comparison

The current VGIAX Sharpe Ratio is 2.37, which is comparable to the VENAX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of VGIAX and VENAX, 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	VENAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.26	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.77	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.32	+0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.27	+0.21

Drawdowns

VGIAX vs. VENAX - Drawdown Comparison

The maximum VGIAX drawdown since its inception was -56.85%, smaller than the maximum VENAX drawdown of -74.42%. Use the drawdown chart below to compare losses from any high point for VGIAX and VENAX.

Drawdown Indicators

	VGIAX	VENAX	Difference
Max Drawdown Largest peak-to-trough decline	-56.85%	-74.42%	+17.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-11.79%	+2.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-21.44%	+1.78%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-26.59%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-69.58%	+35.25%
Current Drawdown Current decline from peak	0.00%	-7.50%	+7.50%
Average Drawdown Average peak-to-trough decline	-9.34%	-19.98%	+10.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	3.99%	-1.84%

Volatility

VGIAX vs. VENAX - Volatility Comparison

The current volatility for Vanguard Growth and Income Fund Admiral Shares (VGIAX) is 3.03%, while Vanguard Energy Index Fund Admiral Shares (VENAX) has a volatility of 7.91%. This indicates that VGIAX experiences smaller price fluctuations and is considered to be less risky than VENAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIAX	VENAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	7.91%	-4.88%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	16.29%	-6.82%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	20.40%	-7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	26.43%	-9.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	30.24%	-12.03%

VGIAX vs. VENAX - Expense Ratio Comparison

VGIAX has a 0.22% expense ratio, which is higher than VENAX's 0.10% 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

VGIAX vs. VENAX - Dividend Comparison

VGIAX's dividend yield for the trailing twelve months is around 9.71%, more than VENAX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VENAX Vanguard Energy Index Fund Admiral Shares	2.40%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%
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 VENAX in my portfolio?

VGIAX and VENAX have a correlation of -0.07, 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 VENAX?

VENAX has higher volatility (7.91%) compared to VGIAX (3.03%). In terms of maximum drawdown, VGIAX dropped -56.85% vs VENAX's -74.42%.

Which has better risk-adjusted returns?

VGIAX currently has the higher Sharpe Ratio (2.37 vs 2.26), 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.