VGIAX vs. VOO

Last updated Jun 24, 2026

VGIAX (Vanguard Growth and Income Fund Admiral Shares) and VOO (Vanguard S&P 500 ETF) are both funds - VGIAX is a Large Cap Blend Equities fund actively managed by Vanguard, while VOO is a S&P 500 fund tracking the S&P 500 Index. VGIAX is actively managed, while VOO is passively managed. Over the past 10 years, VGIAX returned 15.57%/yr vs 15.61%/yr for VOO. With a 0.99 correlation, they move nearly in lockstep. VGIAX charges 0.28%/yr vs 0.03%/yr for VOO.

Performance

VGIAX vs. VOO - 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 S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGIAX achieves a 9.14% return, which is significantly higher than VOO's 8.19% return. Both investments have delivered pretty close results over the past 10 years, with VGIAX having a 15.57% annualized return and VOO not far ahead at 15.61%.

VGIAX

• 1D: -0.35%
• 1M: 1.29%
• YTD: 9.14%
• 6M: 7.97%
• 1Y: 26.25%
• 3Y*: 21.96%
• 5Y*: 13.80%
• 10Y*: 15.57%

VOO

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.19%
• 6M: 7.24%
• 1Y: 23.69%
• 3Y*: 20.78%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

VGIAX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGIAX Vanguard Growth and Income Fund Admiral Shares	9.14%	19.26%	25.84%	24.83%	-17.18%	28.86%	18.04%	29.77%	-4.61%	19.87%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between VGIAX and VOO is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.99

The correlation between VGIAX and VOO has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

VGIAX vs. VOO - Sectors Allocation Comparison

Sectors	VGIAX	VOO
Technology	30.6%	39.1%
Financial Services	12.5%	10.9%
Consumer Cyclical	11.2%	9.8%
Healthcare	10.6%	8.3%
Communication Services	10.1%	10.5%
Industrials	8.9%	7.6%
Energy	5.8%	3.2%
Consumer Defensive	3.6%	4.5%
Basic Materials	2.9%	1.7%
Utilities	2.4%	2.5%
Real Estate	1.6%	1.8%

Return for Risk

VGIAX vs. VOO — Risk / Return Rank

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

VGIAX

VGIAX Risk / Return Rank: 58
VGIAX Sharpe Ratio Rank: 58
VGIAX Sortino Ratio Rank: 52
VGIAX Omega Ratio Rank: 53
VGIAX Calmar Ratio Rank: 60
VGIAX Martin Ratio Rank: 69

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 56
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 56
VOO Martin Ratio Rank: 67

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. VOO - 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 S&P 500 ETF (VOO). 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.

	VGIAX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.91	+0.16
Sortino ratio: Return per unit of downside risk	2.79	2.60	+0.19
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	2.84	2.67	+0.17
Martin ratio: Return relative to average drawdown	12.47	11.96	+0.51

VGIAX vs. VOO - Sharpe Ratio Comparison

The current VGIAX Sharpe Ratio is 2.07, which is comparable to the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of VGIAX and VOO, 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

VGIAX vs. VOO - Drawdown Comparison

The maximum VGIAX drawdown since its inception was -56.85%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VGIAX and VOO.

Drawdown Indicators

	VGIAX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-56.85%	-33.99%	-22.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-8.90%	-0.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-18.69%	-0.97%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-24.52%	+1.22%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-33.99%	-0.34%
Current Drawdown Current decline from peak	-1.21%	-3.14%	+1.93%
Average Drawdown Average peak-to-trough decline	-9.32%	-3.68%	-5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.99%	+0.22%

Volatility

VGIAX vs. VOO - Volatility Comparison

Vanguard Growth and Income Fund Admiral Shares (VGIAX) has a higher volatility of 5.26% compared to Vanguard S&P 500 ETF (VOO) at 4.83%. This indicates that VGIAX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIAX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	4.83%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	10.48%	9.82%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	12.46%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	16.91%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	18.02%	+0.25%

VGIAX vs. VOO - Expense Ratio Comparison

VGIAX has a 0.28% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

VGIAX vs. VOO - Dividend Comparison

VGIAX's dividend yield for the trailing twelve months is around 9.83%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGIAX Vanguard Growth and Income Fund Admiral Shares	9.83%	10.72%	11.67%	8.70%	9.81%	15.28%	6.63%	4.19%	8.05%	5.06%	7.01%	7.72%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both VGIAX and VOO in my portfolio?

With a correlation of 0.99, VGIAX and VOO 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, VGIAX or VOO?

VGIAX has higher volatility (5.26%) compared to VOO (4.83%). In terms of maximum drawdown, VGIAX dropped -56.85% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VGIAX currently has the higher Sharpe Ratio (2.07 vs 1.91), 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.