VIGIX vs. VIVIX

Last updated Jun 23, 2026

VIGIX (Vanguard Growth Index Fund Institutional Shares) and VIVIX (Vanguard Value Index Fund Institutional Shares) are both mutual funds - VIGIX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index, while VIVIX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, VIGIX returned 18.14%/yr vs 12.67%/yr for VIVIX. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.04% expense ratio.

Performance

VIGIX vs. VIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Growth Index Fund Institutional Shares (VIGIX) and Vanguard Value Index Fund Institutional Shares (VIVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIGIX achieves a 7.20% return, which is significantly lower than VIVIX's 13.99% return. Over the past 10 years, VIGIX has outperformed VIVIX with an annualized return of 18.14%, while VIVIX has yielded a comparatively lower 12.67% annualized return.

VIGIX

• 1D: 1.71%
• 1M: -0.56%
• YTD: 7.20%
• 6M: 6.59%
• 1Y: 25.68%
• 3Y*: 23.76%
• 5Y*: 14.15%
• 10Y*: 18.14%

VIVIX

• 1D: 0.25%
• 1M: 2.70%
• YTD: 13.99%
• 6M: 13.51%
• 1Y: 27.58%
• 3Y*: 17.75%
• 5Y*: 12.66%
• 10Y*: 12.67%

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

VIGIX vs. VIVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIGIX Vanguard Growth Index Fund Institutional Shares	7.20%	19.44%	32.68%	46.77%	-33.13%	27.27%	40.19%	37.26%	-3.34%	27.81%
VIVIX Vanguard Value Index Fund Institutional Shares	13.99%	15.30%	15.99%	9.23%	-2.05%	26.50%	2.30%	25.83%	-5.44%	17.14%

Correlation

The correlation between VIGIX and VIVIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jul 2, 1998	0.79

Over the past year, the correlation between VIGIX and VIVIX has dropped to 0.41 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

VIGIX vs. VIVIX — Risk / Return Rank

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

VIGIX

VIGIX Risk / Return Rank: 26
VIGIX Sharpe Ratio Rank: 31
VIGIX Sortino Ratio Rank: 28
VIGIX Omega Ratio Rank: 29
VIGIX Calmar Ratio Rank: 20
VIGIX Martin Ratio Rank: 23

VIVIX

VIVIX Risk / Return Rank: 87
VIVIX Sharpe Ratio Rank: 89
VIVIX Sortino Ratio Rank: 86
VIVIX Omega Ratio Rank: 80
VIVIX Calmar Ratio Rank: 90
VIVIX Martin Ratio Rank: 90

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.

VIGIX vs. VIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth Index Fund Institutional Shares (VIGIX) and Vanguard Value Index Fund Institutional Shares (VIVIX). 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.

	VIGIX	VIVIX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.71	-1.21
Sortino ratio: Return per unit of downside risk	2.05	3.84	-1.79
Omega ratio: Gain probability vs. loss probability	1.26	1.48	-0.22
Calmar ratio: Return relative to maximum drawdown	1.52	4.39	-2.87
Martin ratio: Return relative to average drawdown	5.24	16.51	-11.26

VIGIX vs. VIVIX - Sharpe Ratio Comparison

The current VIGIX Sharpe Ratio is 1.50, which is lower than the VIVIX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of VIGIX and VIVIX, 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

VIGIX vs. VIVIX - Drawdown Comparison

The maximum VIGIX drawdown since its inception was -56.95%, roughly equal to the maximum VIVIX drawdown of -59.30%. Use the drawdown chart below to compare losses from any high point for VIGIX and VIVIX.

Drawdown Indicators

	VIGIX	VIVIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.95%	-59.30%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-16.51%	-6.36%	-10.15%
Max Drawdown (3Y) Largest decline over 3 years	-23.03%	-14.40%	-8.63%
Max Drawdown (5Y) Largest decline over 5 years	-35.62%	-17.12%	-18.50%
Max Drawdown (10Y) Largest decline over 10 years	-35.62%	-36.80%	+1.18%
Current Drawdown Current decline from peak	-3.55%	-0.75%	-2.80%
Average Drawdown Average peak-to-trough decline	-16.25%	-9.25%	-7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	1.69%	+3.10%

Volatility

VIGIX vs. VIVIX - Volatility Comparison

Vanguard Growth Index Fund Institutional Shares (VIGIX) has a higher volatility of 6.58% compared to Vanguard Value Index Fund Institutional Shares (VIVIX) at 3.30%. This indicates that VIGIX's price experiences larger fluctuations and is considered to be riskier than VIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIGIX	VIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.58%	3.30%	+3.28%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	7.83%	+5.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	10.32%	+6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	13.93%	+8.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.66%	16.76%	+4.90%

VIGIX vs. VIVIX - Expense Ratio Comparison

Both VIGIX and VIVIX have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VIGIX vs. VIVIX - Dividend Comparison

VIGIX's dividend yield for the trailing twelve months is around 0.38%, less than VIVIX's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIGIX Vanguard Growth Index Fund Institutional Shares	0.38%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.15%	1.40%	1.31%
VIVIX Vanguard Value Index Fund Institutional Shares	1.83%	2.04%	2.31%	2.46%	2.52%	2.15%	2.55%	2.50%	2.73%	2.30%	2.46%	2.61%

Frequently Asked Questions

Can I hold both VIGIX and VIVIX in my portfolio?

VIGIX and VIVIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIGIX or VIVIX?

VIGIX has higher volatility (6.58%) compared to VIVIX (3.30%). In terms of maximum drawdown, VIGIX dropped -56.95% vs VIVIX's -59.30%.

Which has better risk-adjusted returns?

VIVIX currently has the higher Sharpe Ratio (2.71 vs 1.50), 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.