VIGAX vs. VMGAX
VIGAX (Vanguard Growth Index Fund Admiral Shares) and VMGAX (Vanguard Mega Cap Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds from Vanguard. Over the past 10 years, VIGAX returned 18.39%/yr vs 19.39%/yr for VMGAX. With a 1.00 correlation, they move nearly in lockstep. VIGAX charges 0.05%/yr vs 0.06%/yr for VMGAX.
Performance
VIGAX vs. VMGAX - Performance Comparison
Loading charts...
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%
VIGAX vs. VMGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIGAX vs. VMGAX — Risk / Return Rank
VIGAX
VMGAX
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.
| VIGAX | VMGAX | Difference | |
|---|---|---|---|
| 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 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VIGAX | VMGAX | Difference | |
|---|---|---|---|
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.
Loading charts...
Drawdown Indicators
| VIGAX | VMGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.28% | -0.29% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -11.96% | -7.44% | -4.52% |
Ulcer IndexDepth 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.
Loading charts...
Volatility by Period
| VIGAX | VMGAX | Difference | |
|---|---|---|---|
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.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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.
Find the right allocation for VIGAX and VMGAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer