VIIIX vs. SVSPX
Compare and contrast key facts about Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and State Street S&P 500 Index Fund Class N (SVSPX).
VIIIX is managed by Vanguard. It was launched on Jul 7, 1997. SVSPX is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Dec 30, 1992.
Performance
VIIIX vs. SVSPX - Performance Comparison
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VIIIX vs. SVSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | -7.06% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
SVSPX State Street S&P 500 Index Fund Class N | -7.09% | 17.83% | 25.07% | 26.21% | -18.31% | 28.38% | 18.48% | 31.27% | -4.87% | 21.71% |
Returns By Period
The year-to-date returns for both stocks are quite close, with VIIIX having a -7.06% return and SVSPX slightly lower at -7.09%. Both investments have delivered pretty close results over the past 10 years, with VIIIX having a 13.82% annualized return and SVSPX not far behind at 13.59%.
VIIIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.06%
- 6M
- -4.59%
- 1Y
- 14.44%
- 3Y*
- 17.57%
- 5Y*
- 11.54%
- 10Y*
- 13.82%
SVSPX
- 1D
- -2.06%
- 1M
- -8.10%
- YTD
- -7.09%
- 6M
- -4.55%
- 1Y
- 14.41%
- 3Y*
- 17.15%
- 5Y*
- 11.29%
- 10Y*
- 13.59%
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VIIIX vs. SVSPX - Expense Ratio Comparison
VIIIX has a 0.02% expense ratio, which is lower than SVSPX's 0.16% 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%.
Return for Risk
VIIIX vs. SVSPX — Risk / Return Rank
VIIIX
SVSPX
VIIIX vs. SVSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and State Street S&P 500 Index Fund Class N (SVSPX). 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.
| VIIIX | SVSPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.77 | +0.07 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.29 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.18 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 0.30 | +0.76 |
Martin ratioReturn relative to average drawdown | 5.14 | 1.15 | +3.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VIIIX | SVSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.77 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.68 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.76 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.55 | -0.09 |
Correlation
The correlation between VIIIX and SVSPX is 0.99, 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.
Dividends
VIIIX vs. SVSPX - Dividend Comparison
VIIIX's dividend yield for the trailing twelve months is around 2.90%, less than SVSPX's 8.93% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.90% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
SVSPX State Street S&P 500 Index Fund Class N | 8.93% | 8.28% | 9.39% | 12.38% | 10.53% | 11.65% | 15.98% | 6.40% | 13.29% | 4.94% | 8.63% | 4.05% |
Drawdowns
VIIIX vs. SVSPX - Drawdown Comparison
The maximum VIIIX drawdown since its inception was -55.18%, roughly equal to the maximum SVSPX drawdown of -55.76%. Use the drawdown chart below to compare losses from any high point for VIIIX and SVSPX.
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Drawdown Indicators
| VIIIX | SVSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -55.76% | +0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -12.15% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -24.50% | -24.59% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -33.69% | -0.10% |
Current DrawdownCurrent decline from peak | -8.90% | -8.93% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -9.28% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 4.99% | -2.50% |
Volatility
VIIIX vs. SVSPX - Volatility Comparison
Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) has a higher volatility of 4.24% compared to State Street S&P 500 Index Fund Class N (SVSPX) at 3.96%. This indicates that VIIIX's price experiences larger fluctuations and is considered to be riskier than SVSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIIIX | SVSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 3.96% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.08% | 9.32% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.13% | 20.53% | -2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 17.36% | -0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 18.28% | -0.26% |