VIIIX vs. SPY
Compare and contrast key facts about Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and SPDR S&P 500 ETF (SPY).
VIIIX is managed by Vanguard. It was launched on Jul 7, 1997. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VIIIX or SPY.
Correlation
The correlation between VIIIX and SPY is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
VIIIX vs. SPY - Performance Comparison
Key characteristics
VIIIX:
0.49
SPY:
0.54
VIIIX:
0.81
SPY:
0.89
VIIIX:
1.12
SPY:
1.13
VIIIX:
0.51
SPY:
0.58
VIIIX:
2.09
SPY:
2.39
VIIIX:
4.59%
SPY:
4.51%
VIIIX:
19.52%
SPY:
20.07%
VIIIX:
-55.18%
SPY:
-55.19%
VIIIX:
-10.67%
SPY:
-10.54%
Returns By Period
The year-to-date returns for both investments are quite close, with VIIIX having a -6.54% return and SPY slightly higher at -6.44%. Over the past 10 years, VIIIX has underperformed SPY with an annualized return of 10.76%, while SPY has yielded a comparatively higher 11.95% annualized return.
VIIIX
-6.54%
-4.97%
-6.14%
8.25%
13.76%
10.76%
SPY
-6.44%
-5.00%
-5.02%
9.54%
15.80%
11.95%
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VIIIX vs. SPY - Expense Ratio Comparison
VIIIX has a 0.02% expense ratio, which is lower than SPY's 0.09% 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%.
Risk-Adjusted Performance
VIIIX vs. SPY — Risk-Adjusted Performance Rank
VIIIX
SPY
VIIIX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
VIIIX vs. SPY - Dividend Comparison
VIIIX's dividend yield for the trailing twelve months is around 1.42%, more than SPY's 1.31% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 1.42% | 1.28% | 1.49% | 1.75% | 1.30% | 1.60% | 1.93% | 2.14% | 1.84% | 2.09% | 2.47% | 1.90% |
SPY SPDR S&P 500 ETF | 1.31% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
VIIIX vs. SPY - Drawdown Comparison
The maximum VIIIX drawdown since its inception was -55.18%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VIIIX and SPY. For additional features, visit the drawdowns tool.
Volatility
VIIIX vs. SPY - Volatility Comparison
The current volatility for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) is 14.21%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.13%. This indicates that VIIIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.