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VIIIX vs. VRGWX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VIIIX vs. VRGWX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX).

VIIIX is managed by Vanguard. It was launched on Jul 7, 1997. VRGWX is managed by Vanguard. It was launched on Dec 6, 2010.

Performance

VIIIX vs. VRGWX - 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 Russell 1000 Growth Index Fund Institutional Shares (VRGWX). The values are adjusted to include any dividend payments, if applicable.

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VIIIX vs. VRGWX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VRGWX
Vanguard Russell 1000 Growth Index Fund Institutional Shares		-13.05%18.32%33.25%42.65%-29.18%32.42%38.38%36.30%-1.59%30.11%

Returns By Period

In the year-to-date period, VIIIX achieves a -7.06% return, which is significantly higher than VRGWX's -13.05% return. Over the past 10 years, VIIIX has underperformed VRGWX with an annualized return of 13.82%, while VRGWX has yielded a comparatively higher 16.66% annualized return.

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%

VRGWX

1D
-0.44%
1M
-8.65%
YTD
-13.05%
6M
-12.09%
1Y
14.45%
3Y*
19.59%
5Y*
12.69%
10Y*
16.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Vanguard Institutional Index Fund Institutional Plus Shares

Vanguard Russell 1000 Growth Index Fund Institutional Shares

Often compared with VIIIX:
VIIIX vs. VIGIXVIIIX vs. SPYVIIIX vs. OIEJXVIIIX vs. VTSNXVIIIX vs. VTIVIIIX vs. VEMPXVIIIX vs. VFIFX
Often compared with VRGWX:
VRGWX vs. VONGVRGWX vs. FSPGXVRGWX vs. VOOVRGWX vs. VIGAXVRGWX vs. VTSAXVRGWX vs. VMGAXVRGWX vs. VITAX

VIIIX vs. VRGWX - Expense Ratio Comparison

VIIIX has a 0.02% expense ratio, which is lower than VRGWX's 0.07% 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%.

VRGWX
Vanguard Russell 1000 Growth Index Fund Institutional Shares
VIIIX
Vanguard Institutional Index Fund Institutional Plus Shares

Return for Risk

VIIIX vs. VRGWX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VIIIX
VIIIX Risk / Return Rank: 4646
Overall Rank
VIIIX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VIIIX Sortino Ratio Rank: 4545
Sortino Ratio Rank
VIIIX Omega Ratio Rank: 5050
Omega Ratio Rank
VIIIX Calmar Ratio Rank: 4242
Calmar Ratio Rank
VIIIX Martin Ratio Rank: 5353
Martin Ratio Rank
VRGWX
VRGWX Risk / Return Rank: 2828
Overall Rank
VRGWX Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
VRGWX Sortino Ratio Rank: 3333
Sortino Ratio Rank
VRGWX Omega Ratio Rank: 3232
Omega Ratio Rank
VRGWX Calmar Ratio Rank: 2525
Calmar Ratio Rank
VRGWX Martin Ratio Rank: 2323
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VIIIX vs. VRGWX - 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 Russell 1000 Growth Index Fund Institutional Shares (VRGWX). 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.

VIIIXVRGWXDifference

Sharpe ratio

Return per unit of total volatility

0.84

0.66

+0.18

Sortino ratio

Return per unit of downside risk

1.30

1.10

+0.20

Omega ratio

Gain probability vs. loss probability

1.20

1.15

+0.04

Calmar ratio

Return relative to maximum drawdown

1.06

0.72

+0.34

Martin ratio

Return relative to average drawdown

5.14

2.50

+2.64

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIIIX vs. VRGWX - Sharpe Ratio Comparison

The current VIIIX Sharpe Ratio is 0.84, which is comparable to the VRGWX Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of VIIIX and VRGWX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VIIIXVRGWXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

0.66

+0.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.59

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.79

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.83

-0.36

Correlation

The correlation between VIIIX and VRGWX is 0.95, 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. VRGWX - Dividend Comparison

VIIIX's dividend yield for the trailing twelve months is around 2.90%, more than VRGWX's 0.54% yield.

TTM20252024202320222021202020192018201720162015
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%
VRGWX
Vanguard Russell 1000 Growth Index Fund Institutional Shares		0.54%0.35%0.56%0.71%0.99%4.18%0.77%1.03%1.22%1.22%1.52%1.51%

Drawdowns

VIIIX vs. VRGWX - Drawdown Comparison

The maximum VIIIX drawdown since its inception was -55.18%, which is greater than VRGWX's maximum drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for VIIIX and VRGWX.

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Drawdown Indicators

VIIIXVRGWXDifference

Max Drawdown

Largest peak-to-trough decline

-55.18%

-32.70%

-22.48%

Max Drawdown (1Y)

Largest decline over 1 year

-12.12%

-16.19%

+4.07%

Max Drawdown (5Y)

Largest decline over 5 years

-24.50%

-32.70%

+8.20%

Max Drawdown (10Y)

Largest decline over 10 years

-33.79%

-32.70%

-1.09%

Current Drawdown

Current decline from peak

-8.90%

-16.19%

+7.29%

Average Drawdown

Average peak-to-trough decline

-10.07%

-4.89%

-5.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.49%

4.63%

-2.14%

Volatility

VIIIX vs. VRGWX - Volatility Comparison

The current volatility for Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) is 4.24%, while Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) has a volatility of 5.35%. This indicates that VIIIX experiences smaller price fluctuations and is considered to be less risky than VRGWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VIIIXVRGWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.24%

5.35%

-1.11%

Volatility (6M)

Calculated over the trailing 6-month period

9.08%

11.80%

-2.72%

Volatility (1Y)

Calculated over the trailing 1-year period

18.13%

22.31%

-4.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.85%

21.60%

-4.75%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.02%

21.08%

-3.06%