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VIGAX vs. VMGAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

VIGAX vs. VMGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Growth Index Fund Admiral Shares (VIGAX) and Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX). 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 VIGAX having a 10.82% return and VMGAX slightly higher at 11.29%. Over the past 10 years, VIGAX has underperformed VMGAX with an annualized return of 18.39%, while VMGAX has yielded a comparatively higher 19.39% annualized return.


VIGAX

1D
-0.28%
1M
7.54%
YTD
10.82%
6M
10.11%
1Y
29.44%
3Y*
26.45%
5Y*
15.71%
10Y*
18.39%

VMGAX

1D
-0.29%
1M
8.54%
YTD
11.29%
6M
10.76%
1Y
31.60%
3Y*
27.29%
5Y*
16.86%
10Y*
19.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VIGAX vs. VMGAX - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
VIGAX
Vanguard Growth Index Fund Admiral Shares
10.82%19.43%32.67%46.76%-33.14%27.26%40.18%37.23%-3.35%27.80%
VMGAX
Vanguard Mega Cap Growth Index Fund Institutional Shares
11.29%20.73%32.98%51.57%-33.55%28.50%41.02%37.54%-2.86%29.49%

Correlation

The correlation between VIGAX and VMGAX is 1.00 - 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

1.00

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

1.00

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

1.00

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

1.00

Correlation (All Time)
Calculated using the full available price history since Dec 28, 2007

1.00

The correlation between VIGAX and VMGAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

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Return for Risk

VIGAX vs. VMGAX — Risk / Return Rank

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

VIGAX
VIGAX Risk / Return Rank: 3434
Overall Rank
VIGAX Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
VIGAX Sortino Ratio Rank: 3838
Sortino Ratio Rank
VIGAX Omega Ratio Rank: 3939
Omega Ratio Rank
VIGAX Calmar Ratio Rank: 2424
Calmar Ratio Rank
VIGAX Martin Ratio Rank: 2727
Martin Ratio Rank

VMGAX
VMGAX Risk / Return Rank: 3737
Overall Rank
VMGAX Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
VMGAX Sortino Ratio Rank: 4242
Sortino Ratio Rank
VMGAX Omega Ratio Rank: 4242
Omega Ratio Rank
VMGAX Calmar Ratio Rank: 2727
Calmar Ratio Rank
VMGAX Martin Ratio Rank: 2828
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.

VIGAX vs. VMGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth Index Fund Admiral Shares (VIGAX) and Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX). 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.


VIGAXVMGAXDifference
Sharpe ratioReturn per unit of total volatility

-0.09

Sortino ratioReturn per unit of downside risk

-0.12

Omega ratioGain probability vs. loss probability

1.33

1.35

-0.01

Calmar ratioReturn relative to maximum drawdown

1.84

1.95

-0.10

Martin ratioReturn relative to average drawdown

6.49

6.74

-0.25

VIGAX vs. VMGAX - Sharpe Ratio Comparison

The current VIGAX Sharpe Ratio is 1.92, which is comparable to the VMGAX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of VIGAX and VMGAX, 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


VIGAXVMGAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

2.01

-0.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.75

-0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.86

0.89

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.65

-0.17

Drawdowns

VIGAX vs. VMGAX - Drawdown Comparison

The maximum VIGAX drawdown since its inception was -50.66%, which is greater than VMGAX's maximum drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for VIGAX and VMGAX.


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Drawdown Indicators


VIGAXVMGAXDifference

Max Drawdown

Largest peak-to-trough decline

-50.66%

-47.97%

-2.69%

Max Drawdown (1Y)

Largest decline over 1 year

-16.51%

-16.78%

+0.27%

Max Drawdown (3Y)

Largest decline over 3 years

-23.04%

-23.45%

+0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-35.63%

-36.03%

+0.40%

Max Drawdown (10Y)

Largest decline over 10 years

-35.63%

-36.03%

+0.40%

Current Drawdown

Current decline from peak

-0.28%

-0.29%

+0.01%

Average Drawdown

Average peak-to-trough decline

-11.96%

-7.44%

-4.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.68%

4.83%

-0.15%

Volatility

VIGAX vs. VMGAX - Volatility Comparison

Vanguard Growth Index Fund Admiral Shares (VIGAX) and Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) have volatilities of 3.62% and 3.80%, 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.


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Volatility by Period


VIGAXVMGAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.62%

3.80%

-0.18%

Volatility (6M)

Calculated over the trailing 6-month period

12.10%

12.39%

-0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

15.88%

16.23%

-0.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.35%

22.71%

-0.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.59%

21.90%

-0.31%

VIGAX vs. VMGAX - Expense Ratio Comparison

VIGAX has a 0.05% expense ratio, which is lower than VMGAX's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Dividends

VIGAX vs. VMGAX - Dividend Comparison

VIGAX's dividend yield for the trailing twelve months is around 0.36%, more than VMGAX's 0.32% yield.


PositionTTM20252024202320222021202020192018201720162015
VIGAX
Vanguard Growth Index Fund Admiral Shares
0.36%0.40%0.46%0.57%0.69%0.47%0.66%0.94%1.31%1.14%1.39%1.31%
VMGAX
Vanguard Mega Cap Growth Index Fund Institutional Shares
0.32%0.36%0.44%0.51%0.71%0.42%0.65%0.86%1.13%1.23%1.53%1.44%

Frequently Asked Questions


With a correlation of 1.00, VIGAX and VMGAX 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.

VMGAX has higher volatility (3.80%) compared to VIGAX (3.62%). In terms of maximum drawdown, VIGAX dropped -50.66% vs VMGAX's -47.97%.

VMGAX currently has the higher Sharpe Ratio (2.01 vs 1.92), 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.

Portfolio Optimizer

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