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:
2.04
SPY:
2.20
VIIIX:
2.70
SPY:
2.91
VIIIX:
1.38
SPY:
1.41
VIIIX:
3.14
SPY:
3.35
VIIIX:
12.55
SPY:
13.99
VIIIX:
2.12%
SPY:
2.01%
VIIIX:
13.02%
SPY:
12.79%
VIIIX:
-55.18%
SPY:
-55.19%
VIIIX:
-2.44%
SPY:
-1.35%
Returns By Period
The year-to-date returns for both stocks are quite close, with VIIIX having a 2.01% return and SPY slightly lower at 1.96%. Over the past 10 years, VIIIX has underperformed SPY with an annualized return of 12.26%, while SPY has yielded a comparatively higher 13.44% annualized return.
VIIIX
2.01%
1.14%
8.49%
25.45%
12.09%
12.26%
SPY
1.96%
2.27%
9.55%
27.02%
14.23%
13.44%
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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 1.26%, more than SPY's 1.18% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 1.26% | 1.28% | 1.49% | 1.75% | 1.30% | 1.60% | 1.93% | 2.14% | 1.84% | 2.09% | 2.47% | 2.46% |
SPY SPDR S&P 500 ETF | 1.18% | 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
Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) has a higher volatility of 5.39% compared to SPDR S&P 500 ETF (SPY) at 5.10%. This indicates that VIIIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.