VIIIX vs. VGELX

Last updated Aug 4, 2026

VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) and VGELX (Vanguard Energy Opportunities Fund Admiral Shares) are both mutual funds - VIIIX is a S&P 500 fund tracking the S&P 500 Index, while VGELX is a Energy Equities fund actively managed by Vanguard. VIIIX is passively managed, while VGELX is actively managed. Over the past 10 years, VIIIX returned 15.23%/yr vs 9.86%/yr for VGELX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. VIIIX charges 0.02%/yr vs 0.37%/yr for VGELX.

Performance

VIIIX vs. VGELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and Vanguard Energy Opportunities Fund Admiral Shares (VGELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIIIX achieves a 10.12% return, which is significantly lower than VGELX's 23.51% return. Over the past 10 years, VIIIX has outperformed VGELX with an annualized return of 15.23%, while VGELX has yielded a comparatively lower 9.86% annualized return.

VIIIX

• 1D: 0.71%
• 1M: 0.14%
• 6M: 7.96%
• YTD: 10.12%
• 1Y: 21.48%
• 3Y*: 19.82%
• 5Y*: 12.98%
• 10Y*: 15.23%
• ALL TIME*: 9.44%

VGELX

• 1D: 0.50%
• 1M: 6.10%
• 6M: 15.74%
• YTD: 23.51%
• 1Y: 33.48%
• 3Y*: 26.26%
• 5Y*: 23.97%
• 10Y*: 9.86%
• ALL TIME*: 9.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VGELX Vanguard Energy Opportunities Fund Admiral Shares	$0.00	$0.00	$0.00
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	$0.00	$0.00	$0.00

VIIIX vs. VGELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	10.12%	17.87%	26.29%	25.79%	-18.14%	28.69%	18.41%	31.48%	-4.41%	21.82%
VGELX Vanguard Energy Opportunities Fund Admiral Shares	23.51%	20.76%	30.46%	8.87%	23.70%	27.80%	-30.80%	13.32%	-17.12%	3.31%

Correlation

The correlation between VIIIX and VGELX is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (5Y) Shows whether the relationship held over a longer period.	0.40
Correlation (10Y) Provides a long-term view across more market conditions.	0.52
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.63

The correlation between VIIIX and VGELX shifts across timeframes, from -0.01 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

VIIIX vs. VGELX - Sectors Allocation Comparison

Sectors	VIIIX	VGELX
Technology	38.6%	-
Financial Services	11.4%	0.0%
Communication Services	9.9%	-
Consumer Cyclical	9.5%	-
Healthcare	8.9%	-
Industrials	8.5%	-
Consumer Defensive	4.5%	-
Energy	3.0%	57.0%
Utilities	2.2%	41.9%
Real Estate	1.8%	0.0%
Basic Materials	1.7%	1.1%

Return for Risk

VIIIX vs. VGELX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VIIIX

VIIIX Risk / Return Rank: 59
VIIIX Sharpe Ratio Rank: 56
VIIIX Sortino Ratio Rank: 52
VIIIX Omega Ratio Rank: 52
VIIIX Calmar Ratio Rank: 61
VIIIX Martin Ratio Rank: 74

VGELX

VGELX Risk / Return Rank: 91
VGELX Sharpe Ratio Rank: 95
VGELX Sortino Ratio Rank: 90
VGELX Omega Ratio Rank: 87
VGELX Calmar Ratio Rank: 92
VGELX Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VIIIX vs. VGELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and Vanguard Energy Opportunities Fund Admiral Shares (VGELX). 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.

	VIIIX	VGELX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.55	-1.03
Sortino ratio: Return per unit of downside risk	2.12	3.44	-1.32
Omega ratio: Gain probability vs. loss probability	1.27	1.44	-0.17
Calmar ratio: Return relative to maximum drawdown	2.21	3.78	-1.57
Martin ratio: Return relative to average drawdown	9.47	12.58	-3.11

VIIIX vs. VGELX - Sharpe Ratio Comparison

The current VIIIX Sharpe Ratio is 1.53, which is lower than the VGELX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of VIIIX and VGELX, 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

VIIIX vs. VGELX - Drawdown Comparison

The maximum VIIIX drawdown since its inception was -55.18%, smaller than the maximum VGELX drawdown of -65.22%. Use the drawdown chart below to compare losses from any high point for VIIIX and VGELX.

Drawdown Indicators

	VIIIX	VGELX	Difference
Max Drawdown Largest peak-to-trough decline	-55.18%	-65.22%	+10.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.75%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-12.30%	-6.45%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-19.72%	-4.78%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-61.13%	+27.34%
Current Drawdown Current decline from peak	-1.42%	-1.51%	+0.09%
Average Drawdown Average peak-to-trough decline	-9.97%	-19.05%	+9.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.62%	-0.55%

Volatility

VIIIX vs. VGELX - Volatility Comparison

The current volatility for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) is 3.52%, while Vanguard Energy Opportunities Fund Admiral Shares (VGELX) has a volatility of 4.54%. This indicates that VIIIX experiences smaller price fluctuations and is considered to be less risky than VGELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIIIX	VGELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	4.54%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	10.78%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	12.96%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	18.67%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	23.06%	-4.99%

VIIIX vs. VGELX - Expense Ratio Comparison

VIIIX has a 0.02% expense ratio, which is lower than VGELX's 0.37% expense ratio.

Dividends

VIIIX vs. VGELX - Dividend Comparison

VIIIX's dividend yield for the trailing twelve months is around 2.49%, less than VGELX's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGELX Vanguard Energy Opportunities Fund Admiral Shares	7.00%	4.79%	34.15%	6.91%	4.71%	3.70%	4.54%	3.38%	3.07%	3.05%	1.91%	2.70%
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares	2.49%	2.11%	3.66%	2.66%	3.39%	4.79%	3.07%	2.86%	2.45%	1.84%	2.38%	2.47%

Frequently Asked Questions

Can I hold both VIIIX and VGELX in my portfolio?

VIIIX and VGELX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIIIX or VGELX?

VGELX has higher volatility (4.54%) compared to VIIIX (3.52%). In terms of maximum drawdown, VIIIX dropped -55.18% vs VGELX's -65.22%.

Which has better risk-adjusted returns?

VGELX currently has the higher Sharpe Ratio (2.55 vs 1.53), 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.