VIIIX vs. VPKIX
VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) and VPKIX (Vanguard Pacific Stock Index Fund Institutional Shares) are both mutual funds - VIIIX is a S&P 500 fund tracking the S&P 500 Index, while VPKIX is a Asia Pacific Equities fund managed by Vanguard. Over the past 10 years, VIIIX returned 15.32%/yr vs 9.87%/yr for VPKIX. A 0.66 correlation means they provide meaningful diversification when combined. VIIIX charges 0.02%/yr vs 0.08%/yr for VPKIX.
Performance
VIIIX vs. VPKIX - Performance Comparison
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Returns By Period
In the year-to-date period, VIIIX achieves a 8.42% return, which is significantly lower than VPKIX's 21.28% return. Over the past 10 years, VIIIX has outperformed VPKIX with an annualized return of 15.32%, while VPKIX has yielded a comparatively lower 9.87% annualized return.
VIIIX
- 1D
- -2.63%
- 1M
- -0.08%
- YTD
- 8.42%
- 6M
- 8.48%
- 1Y
- 24.54%
- 3Y*
- 21.94%
- 5Y*
- 13.54%
- 10Y*
- 15.32%
VPKIX
- 1D
- -5.92%
- 1M
- -2.71%
- YTD
- 21.28%
- 6M
- 23.44%
- 1Y
- 42.71%
- 3Y*
- 19.93%
- 5Y*
- 8.79%
- 10Y*
- 9.87%
VIIIX vs. VPKIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 8.42% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
VPKIX Vanguard Pacific Stock Index Fund Institutional Shares | 21.28% | 33.12% | 1.29% | 15.58% | -15.20% | 1.47% | 16.54% | 17.61% | -13.87% | 28.55% |
Correlation
The correlation between VIIIX and VPKIX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since May 16, 2000 | 0.66 |
The correlation between VIIIX and VPKIX has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
VIIIX vs. VPKIX — Risk / Return Rank
VIIIX
VPKIX
VIIIX vs. VPKIX - 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 Pacific Stock Index Fund Institutional Shares (VPKIX). 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 | VPKIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.41 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.24 | -0.32 |
| Martin ratioReturn relative to average drawdown | 13.57 | 12.42 | +1.15 |
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 | VPKIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.23 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.53 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.60 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.26 | +0.23 |
Drawdowns
VIIIX vs. VPKIX - Drawdown Comparison
The maximum VIIIX drawdown since its inception was -55.18%, roughly equal to the maximum VPKIX drawdown of -55.26%. Use the drawdown chart below to compare losses from any high point for VIIIX and VPKIX.
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Drawdown Indicators
| VIIIX | VPKIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -55.26% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -13.40% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -16.38% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -24.50% | -31.12% | +6.62% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -33.62% | -0.17% |
Current DrawdownCurrent decline from peak | -2.94% | -7.31% | +4.37% |
Average DrawdownAverage peak-to-trough decline | -10.01% | -15.43% | +5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.91% | 3.49% | -1.58% |
Volatility
VIIIX vs. VPKIX - Volatility Comparison
The current volatility for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) is 3.81%, while Vanguard Pacific Stock Index Fund Institutional Shares (VPKIX) has a volatility of 8.60%. This indicates that VIIIX experiences smaller price fluctuations and is considered to be less risky than VPKIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIIIX | VPKIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 8.60% | -4.79% |
Volatility (6M)Calculated over the trailing 6-month period | 9.41% | 16.47% | -7.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.19% | 19.50% | -7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.93% | 16.67% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 16.36% | +1.72% |
VIIIX vs. VPKIX - Expense Ratio Comparison
VIIIX has a 0.02% expense ratio, which is lower than VPKIX's 0.08% 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%.
Dividends
VIIIX vs. VPKIX - Dividend Comparison
VIIIX's dividend yield for the trailing twelve months is around 2.48%, less than VPKIX's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.48% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
VPKIX Vanguard Pacific Stock Index Fund Institutional Shares | 2.92% | 4.00% | 3.15% | 3.11% | 2.74% | 3.17% | 1.81% | 2.85% | 3.05% | 2.60% | 2.67% | 2.45% |
Frequently Asked Questions
VIIIX and VPKIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPKIX has higher volatility (8.60%) compared to VIIIX (3.81%). In terms of maximum drawdown, VIIIX dropped -55.18% vs VPKIX's -55.26%.
VPKIX currently has the higher Sharpe Ratio (2.23 vs 2.13), 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.
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