VGIAX vs. VTIVX

Last updated Jun 4, 2026

VGIAX (Vanguard Growth and Income Fund Admiral Shares) and VTIVX (Vanguard Target Retirement 2045 Fund) are both mutual funds - VGIAX is a Large Cap Blend Equities fund managed by Vanguard, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, VGIAX returned 15.41%/yr vs 11.35%/yr for VTIVX. With a 0.96 correlation, they move nearly in lockstep. VGIAX charges 0.22%/yr vs 0.08%/yr for VTIVX.

Performance

VGIAX vs. VTIVX - 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 Target Retirement 2045 Fund (VTIVX). 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 VTIVX's 11.08% return. Over the past 10 years, VGIAX has outperformed VTIVX with an annualized return of 15.41%, while VTIVX has yielded a comparatively lower 11.35% 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%

VTIVX

• 1D: 0.31%
• 1M: 4.78%
• YTD: 11.08%
• 6M: 11.92%
• 1Y: 26.04%
• 3Y*: 18.49%
• 5Y*: 9.63%
• 10Y*: 11.35%

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

VGIAX vs. VTIVX - 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%
VTIVX Vanguard Target Retirement 2045 Fund	11.08%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between VGIAX and VTIVX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 28, 2003	0.96

The correlation between VGIAX and VTIVX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

VGIAX vs. VTIVX - Sectors Allocation Comparison

Sectors	VGIAX	VTIVX
Technology	30.6%	27.4%
Financial Services	12.5%	16.1%
Consumer Cyclical	11.2%	9.4%
Healthcare	10.6%	8.3%
Communication Services	10.1%	8.0%
Industrials	8.9%	12.3%
Energy	5.8%	4.3%
Consumer Defensive	3.6%	4.8%
Basic Materials	2.9%	4.3%
Utilities	2.4%	2.7%
Real Estate	1.6%	2.5%

Return for Risk

VGIAX vs. VTIVX — 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

VTIVX

VTIVX Risk / Return Rank: 71
VTIVX Sharpe Ratio Rank: 75
VTIVX Sortino Ratio Rank: 71
VTIVX Omega Ratio Rank: 68
VTIVX Calmar Ratio Rank: 68
VTIVX Martin Ratio Rank: 74

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. VTIVX - 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 Target Retirement 2045 Fund (VTIVX). 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	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.51	-0.15
Sortino ratio: Return per unit of downside risk	3.20	3.50	-0.30
Omega ratio: Gain probability vs. loss probability	1.42	1.46	-0.04
Calmar ratio: Return relative to maximum drawdown	3.05	3.18	-0.13
Martin ratio: Return relative to average drawdown	13.76	14.06	-0.30
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. VTIVX - Sharpe Ratio Comparison

The current VGIAX Sharpe Ratio is 2.37, which is comparable to the VTIVX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of VGIAX and VTIVX, 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	VTIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.51	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.72	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.77	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.55	-0.07

Drawdowns

VGIAX vs. VTIVX - Drawdown Comparison

The maximum VGIAX drawdown since its inception was -56.85%, which is greater than VTIVX's maximum drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for VGIAX and VTIVX.

Drawdown Indicators

	VGIAX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-56.85%	-51.69%	-5.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-8.30%	-1.43%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-13.40%	-6.26%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-25.10%	+1.80%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-31.42%	-2.91%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.34%	-6.33%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.87%	+0.28%

Volatility

VGIAX vs. VTIVX - Volatility Comparison

Vanguard Growth and Income Fund Admiral Shares (VGIAX) and Vanguard Target Retirement 2045 Fund (VTIVX) have volatilities of 3.03% and 3.18%, 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

	VGIAX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	3.18%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	8.37%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	10.50%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	13.49%	+3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	14.79%	+3.42%

VGIAX vs. VTIVX - Expense Ratio Comparison

VGIAX has a 0.22% expense ratio, which is higher than VTIVX's 0.08% 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. VTIVX - Dividend Comparison

VGIAX's dividend yield for the trailing twelve months is around 9.71%, more than VTIVX's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VTIVX Vanguard Target Retirement 2045 Fund	2.25%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both VGIAX and VTIVX in my portfolio?

With a correlation of 0.94, VGIAX and VTIVX 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 VTIVX?

VTIVX has higher volatility (3.18%) compared to VGIAX (3.03%). In terms of maximum drawdown, VGIAX dropped -56.85% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.51 vs 2.37), 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.