VHCAX vs. POGRX

Last updated Jun 23, 2026

VHCAX (Vanguard Capital Opportunity Fund Admiral Shares) and POGRX (PrimeCap Odyssey Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, VHCAX returned 17.59%/yr vs 17.99%/yr for POGRX. With a 0.97 correlation, they move nearly in lockstep. VHCAX charges 0.36%/yr vs 0.65%/yr for POGRX.

Performance

VHCAX vs. POGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) and PrimeCap Odyssey Growth Fund (POGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VHCAX achieves a 26.85% return, which is significantly lower than POGRX's 29.75% return. Both investments have delivered pretty close results over the past 10 years, with VHCAX having a 17.59% annualized return and POGRX not far ahead at 17.99%.

VHCAX

• 1D: 2.38%
• 1M: 7.14%
• YTD: 26.85%
• 6M: 25.41%
• 1Y: 56.45%
• 3Y*: 25.85%
• 5Y*: 14.75%
• 10Y*: 17.59%

POGRX

• 1D: 2.81%
• 1M: 7.74%
• YTD: 29.75%
• 6M: 27.90%
• 1Y: 67.31%
• 3Y*: 28.60%
• 5Y*: 16.63%
• 10Y*: 17.99%

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

VHCAX vs. POGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	26.85%	25.83%	14.07%	25.63%	-17.56%	20.92%	22.83%	27.30%	-3.71%	28.37%
POGRX PrimeCap Odyssey Growth Fund	29.75%	32.99%	13.09%	23.85%	-14.61%	18.81%	17.05%	23.98%	-4.56%	32.07%

Correlation

The correlation between VHCAX and POGRX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 3, 2004	0.97

The correlation between VHCAX and POGRX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

VHCAX vs. POGRX — Risk / Return Rank

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

VHCAX

VHCAX Risk / Return Rank: 91
VHCAX Sharpe Ratio Rank: 95
VHCAX Sortino Ratio Rank: 89
VHCAX Omega Ratio Rank: 85
VHCAX Calmar Ratio Rank: 91
VHCAX Martin Ratio Rank: 95

POGRX

POGRX Risk / Return Rank: 93
POGRX Sharpe Ratio Rank: 97
POGRX Sortino Ratio Rank: 93
POGRX Omega Ratio Rank: 90
POGRX Calmar Ratio Rank: 92
POGRX Martin Ratio Rank: 94

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.

VHCAX vs. POGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) and PrimeCap Odyssey Growth Fund (POGRX). 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.

	VHCAX	POGRX	Difference
Sharpe ratio: Return per unit of total volatility	3.03	3.42	-0.39
Sortino ratio: Return per unit of downside risk	4.00	4.43	-0.43
Omega ratio: Gain probability vs. loss probability	1.54	1.60	-0.07
Calmar ratio: Return relative to maximum drawdown	4.51	4.63	-0.12
Martin ratio: Return relative to average drawdown	19.87	19.52	+0.35

VHCAX vs. POGRX - Sharpe Ratio Comparison

The current VHCAX Sharpe Ratio is 3.03, which is comparable to the POGRX Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of VHCAX and POGRX, 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

VHCAX vs. POGRX - Drawdown Comparison

The maximum VHCAX drawdown since its inception was -54.27%, which is greater than POGRX's maximum drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for VHCAX and POGRX.

Drawdown Indicators

	VHCAX	POGRX	Difference
Max Drawdown Largest peak-to-trough decline	-54.27%	-51.63%	-2.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-14.40%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-23.92%	-22.13%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-27.55%	-26.85%	-0.70%
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	-35.29%	+1.51%
Current Drawdown Current decline from peak	-0.34%	0.00%	-0.34%
Average Drawdown Average peak-to-trough decline	-8.39%	-7.12%	-1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.41%	-0.60%

Volatility

VHCAX vs. POGRX - Volatility Comparison

Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) and PrimeCap Odyssey Growth Fund (POGRX) have volatilities of 8.52% and 8.95%, 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

	VHCAX	POGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	8.95%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	15.57%	16.45%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	19.47%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.08%	19.89%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.44%	20.61%	-0.17%

VHCAX vs. POGRX - Expense Ratio Comparison

VHCAX has a 0.36% expense ratio, which is lower than POGRX's 0.65% expense ratio.

Dividends

VHCAX vs. POGRX - Dividend Comparison

VHCAX's dividend yield for the trailing twelve months is around 7.66%, less than POGRX's 19.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POGRX PrimeCap Odyssey Growth Fund	19.18%	24.89%	20.79%	13.28%	12.36%	13.68%	12.50%	5.13%	2.45%	1.54%	5.83%	1.29%
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	7.66%	9.71%	8.24%	2.40%	9.35%	10.55%	9.19%	6.48%	12.23%	3.87%	5.74%	5.39%

Frequently Asked Questions

Can I hold both VHCAX and POGRX in my portfolio?

With a correlation of 0.96, VHCAX and POGRX 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, VHCAX or POGRX?

POGRX has higher volatility (8.95%) compared to VHCAX (8.52%). In terms of maximum drawdown, VHCAX dropped -54.27% vs POGRX's -51.63%.

Which has better risk-adjusted returns?

POGRX currently has the higher Sharpe Ratio (3.42 vs 3.03), 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.