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VIEIX vs. VSCIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIEIX vs. VSCIX

Last updated Jun 4, 2026

VIEIX (Vanguard Extended Market Index Fund Institutional Shares) and VSCIX (Vanguard Small-Cap Index Fund Institutional Shares) are both mutual funds - VIEIX is a Mid Cap Blend Equities fund managed by Vanguard, while VSCIX is a Small Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VIEIX returned 12.20%/yr vs 11.38%/yr for VSCIX. With a 0.98 correlation, they move nearly in lockstep. VIEIX charges 0.05%/yr vs 0.04%/yr for VSCIX.

Performance

VIEIX vs. VSCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Vanguard Small-Cap Index Fund Institutional Shares (VSCIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with VIEIX having a 14.93% return and VSCIX slightly higher at 14.94%. Over the past 10 years, VIEIX has outperformed VSCIX with an annualized return of 12.20%, while VSCIX has yielded a comparatively lower 11.38% annualized return.

VIEIX

1D
1.07%
1M
5.81%
YTD
14.93%
6M
13.66%
1Y
30.15%
3Y*
20.15%
5Y*
6.92%
10Y*
12.20%

VSCIX

1D
0.80%
1M
4.24%
YTD
14.94%
6M
14.90%
1Y
29.67%
3Y*
17.32%
5Y*
7.35%
10Y*
11.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIEIX vs. VSCIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIEIX
Vanguard Extended Market Index Fund Institutional Shares		14.93%11.42%15.49%26.97%-26.46%12.46%32.24%28.05%-9.36%18.12%
VSCIX
Vanguard Small-Cap Index Fund Institutional Shares		14.94%8.85%12.96%19.52%-17.60%17.74%19.07%27.40%-9.33%16.25%

Correlation

The correlation between VIEIX and VSCIX is 0.98 - 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

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Jul 8, 1997

0.98

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

VIEIX vs. VSCIX - Sectors Allocation Comparison

Sectors
VIEIX
VSCIX

Technology

19.8%
17.2%

Industrials

19.3%
20.8%

Financial Services

14.6%
12.6%

Healthcare

13.3%
11.1%

Consumer Cyclical

9.7%
11.3%

Real Estate

6.0%
7.6%

Energy

5.1%
4.7%

Basic Materials

4.2%
4.8%

Communication Services

3.3%
3.1%

Consumer Defensive

2.7%
3.4%

Utilities

2.0%
3.3%

Technology

VIEIX
19.8%
VSCIX
17.2%

Industrials

VIEIX
19.3%
VSCIX
20.8%

Financial Services

VIEIX
14.6%
VSCIX
12.6%

Healthcare

VIEIX
13.3%
VSCIX
11.1%

Consumer Cyclical

VIEIX
9.7%
VSCIX
11.3%

Real Estate

VIEIX
6.0%
VSCIX
7.6%

Energy

VIEIX
5.1%
VSCIX
4.7%

Basic Materials

VIEIX
4.2%
VSCIX
4.8%

Communication Services

VIEIX
3.3%
VSCIX
3.1%

Consumer Defensive

VIEIX
2.7%
VSCIX
3.4%

Utilities

VIEIX
2.0%
VSCIX
3.3%

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Vanguard Extended Market Index Fund Institutional Shares

Vanguard Small-Cap Index Fund Institutional Shares

Often compared with VIEIX:
VIEIX vs. FSMAXVIEIX vs. VOOVIEIX vs. VMCIXVIEIX vs. VEXAXVIEIX vs. VEXRXVIEIX vs. SPYVIEIX vs. AVUV
Often compared with VSCIX:
VSCIX vs. VMCIXVSCIX vs. VINIXVSCIX vs. VBVSCIX vs. VOOVSCIX vs. AVFIXVSCIX vs. IWMVSCIX vs. VWUAX

Return for Risk

VIEIX vs. VSCIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIEIX
VIEIX Risk / Return Rank: 4747
Overall Rank
VIEIX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VIEIX Sortino Ratio Rank: 3939
Sortino Ratio Rank
VIEIX Omega Ratio Rank: 3636
Omega Ratio Rank
VIEIX Calmar Ratio Rank: 6666
Calmar Ratio Rank
VIEIX Martin Ratio Rank: 5555
Martin Ratio Rank
VSCIX
VSCIX Risk / Return Rank: 5454
Overall Rank
VSCIX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
VSCIX Sortino Ratio Rank: 4343
Sortino Ratio Rank
VSCIX Omega Ratio Rank: 4040
Omega Ratio Rank
VSCIX Calmar Ratio Rank: 7777
Calmar Ratio Rank
VSCIX Martin Ratio Rank: 6767
Martin Ratio Rank
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.

VIEIX vs. VSCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Vanguard Small-Cap Index Fund Institutional Shares (VSCIX). 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.

VIEIXVSCIXDifference
Sharpe ratioReturn per unit of total volatility
1.87
1.94

-0.07

Sortino ratioReturn per unit of downside risk
2.61
2.75

-0.14

Omega ratioGain probability vs. loss probability

1.32

1.33

-0.01

Calmar ratioReturn relative to maximum drawdown

3.13

3.51

-0.38

Martin ratioReturn relative to average drawdown

11.08

12.98

-1.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIEIX vs. VSCIX - Sharpe Ratio Comparison

The current VIEIX Sharpe Ratio is 1.87, which is comparable to the VSCIX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VIEIX and VSCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VIEIXVSCIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.87

1.94

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

0.36

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.53

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.41

0.00

Drawdowns

VIEIX vs. VSCIX - Drawdown Comparison

The maximum VIEIX drawdown since its inception was -58.03%, roughly equal to the maximum VSCIX drawdown of -59.66%. Use the drawdown chart below to compare losses from any high point for VIEIX and VSCIX.

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Drawdown Indicators

VIEIXVSCIXDifference

Max Drawdown

Largest peak-to-trough decline

-58.03%

-59.66%

+1.63%

Max Drawdown (1Y)

Largest decline over 1 year

-10.25%

-8.97%

-1.28%

Max Drawdown (3Y)

Largest decline over 3 years

-26.84%

-25.25%

-1.59%

Max Drawdown (5Y)

Largest decline over 5 years

-36.32%

-28.13%

-8.19%

Max Drawdown (10Y)

Largest decline over 10 years

-41.62%

-41.81%

+0.19%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-13.84%

-10.12%

-3.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

2.42%

+0.47%

Volatility

VIEIX vs. VSCIX - Volatility Comparison

Vanguard Extended Market Index Fund Institutional Shares (VIEIX) has a higher volatility of 4.69% compared to Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) at 4.40%. This indicates that VIEIX's price experiences larger fluctuations and is considered to be riskier than VSCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIEIXVSCIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

4.40%

+0.29%

Volatility (6M)

Calculated over the trailing 6-month period

12.46%

11.72%

+0.74%

Volatility (1Y)

Calculated over the trailing 1-year period

17.17%

16.27%

+0.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.34%

20.72%

+1.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.36%

21.57%

+0.79%

VIEIX vs. VSCIX - Expense Ratio Comparison

VIEIX has a 0.05% expense ratio, which is higher than VSCIX's 0.04% 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

VIEIX vs. VSCIX - Dividend Comparison

VIEIX's dividend yield for the trailing twelve months is around 1.01%, less than VSCIX's 1.19% yield.

PositionTTM20252024202320222021202020192018201720162015
VIEIX
Vanguard Extended Market Index Fund Institutional Shares		1.01%1.14%1.10%1.26%1.16%1.14%1.08%1.31%1.67%1.27%1.45%1.37%
VSCIX
Vanguard Small-Cap Index Fund Institutional Shares		1.19%1.34%1.31%1.55%1.55%1.25%1.15%1.40%1.68%1.36%1.50%1.49%

Frequently Asked Questions

With a correlation of 0.98, VIEIX and VSCIX 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.

VIEIX has higher volatility (4.69%) compared to VSCIX (4.40%). In terms of maximum drawdown, VIEIX dropped -58.03% vs VSCIX's -59.66%.

VSCIX currently has the higher Sharpe Ratio (1.94 vs 1.87), 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.

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