PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VIMAX vs. VEXAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VIMAX vs. VEXAX

Last updated Aug 2, 2026
Documentation

VIMAX (Vanguard Mid-Cap Index Fund Admiral Shares) and VEXAX (Vanguard Extended Market Index Fund Admiral Shares) are both Mid Cap Blend Equities funds from Vanguard - VIMAX tracks the CRSP US Mid Cap Index while VEXAX tracks the S&P Completion Index. Both are passively managed. Over the past 10 years, VIMAX returned 11.37%/yr vs 11.63%/yr for VEXAX. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.

Performance

VIMAX vs. VEXAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) and Vanguard Extended Market Index Fund Admiral Shares (VEXAX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VIMAX achieves a 12.41% return, which is significantly lower than VEXAX's 13.97% return. Both investments have delivered pretty close results over the past 10 years, with VIMAX having a 11.37% annualized return and VEXAX not far ahead at 11.63%.

VIMAX

1D
0.44%
1M
0.55%
6M
10.10%
YTD
12.41%
1Y
16.54%
3Y*
14.19%
5Y*
7.77%
10Y*
11.37%
ALL TIME*
10.36%

VEXAX

1D
1.41%
1M
-2.63%
6M
11.31%
YTD
13.97%
1Y
23.77%
3Y*
15.98%
5Y*
6.19%
10Y*
11.63%
ALL TIME*
8.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VEXAX

Vanguard Extended Market Index Fund Admiral Shares
$0.00$0.00$0.00

VIMAX

Vanguard Mid-Cap Index Fund Admiral Shares
$0.00$0.00$0.00

VIMAX vs. VEXAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VIMAX
Vanguard Mid-Cap Index Fund Admiral Shares		12.41%11.67%14.66%16.53%-18.70%24.51%18.18%31.03%-9.24%19.26%
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		13.97%11.42%15.47%26.95%-26.46%12.45%32.22%28.03%-9.37%18.11%

Correlation

The correlation between VIMAX and VEXAX is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.93

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.94

Correlation (10Y)
Provides a long-term view across more market conditions.

0.95

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2001

0.96

The correlation between VIMAX and VEXAX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

VIMAX vs. VEXAX - Sectors Allocation Comparison

Sectors
VIMAX
VEXAX

Industrials

19.9%
19.6%

Technology

18.2%
19.2%

Financial Services

13.1%
13.7%

Consumer Cyclical

9.0%
8.5%

Utilities

8.4%
1.8%

Healthcare

7.8%
13.6%

Energy

7.4%
4.3%

Real Estate

5.1%
5.6%

Consumer Defensive

4.6%
2.6%

Basic Materials

3.9%
4.7%

Communication Services

2.7%
2.8%

Industrials

VIMAX
19.9%
VEXAX
19.6%

Technology

VIMAX
18.2%
VEXAX
19.2%

Financial Services

VIMAX
13.1%
VEXAX
13.7%

Consumer Cyclical

VIMAX
9.0%
VEXAX
8.5%

Utilities

VIMAX
8.4%
VEXAX
1.8%

Healthcare

VIMAX
7.8%
VEXAX
13.6%

Energy

VIMAX
7.4%
VEXAX
4.3%

Real Estate

VIMAX
5.1%
VEXAX
5.6%

Consumer Defensive

VIMAX
4.6%
VEXAX
2.6%

Basic Materials

VIMAX
3.9%
VEXAX
4.7%

Communication Services

VIMAX
2.7%
VEXAX
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Mid-Cap Index Fund Admiral Shares

Vanguard Extended Market Index Fund Admiral Shares

Often compared with VIMAX:
VIMAX vs. VSMAXVIMAX vs. VOVIMAX vs. FSMDXVIMAX vs. VTSAXVIMAX vs. VOOVIMAX vs. SWMCXVIMAX vs. SSSYX
Often compared with VEXAX:
VEXAX vs. VIEIXVEXAX vs. VOOVEXAX vs. VINIXVEXAX vs. VTIVEXAX vs. VEMAXVEXAX vs. VASVXVEXAX vs. VO

Return for Risk

VIMAX vs. VEXAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VIMAX
VIMAX Risk / Return Rank: 4444
Overall Rank
VIMAX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VIMAX Sortino Ratio Rank: 4141
Sortino Ratio Rank
VIMAX Omega Ratio Rank: 3838
Omega Ratio Rank
VIMAX Calmar Ratio Rank: 5151
Calmar Ratio Rank
VIMAX Martin Ratio Rank: 5252
Martin Ratio Rank
VEXAX
VEXAX Risk / Return Rank: 4747
Overall Rank
VEXAX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VEXAX Sortino Ratio Rank: 4242
Sortino Ratio Rank
VEXAX Omega Ratio Rank: 3737
Omega Ratio Rank
VEXAX Calmar Ratio Rank: 6262
Calmar Ratio Rank
VEXAX Martin Ratio Rank: 5252
Martin Ratio Rank
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.

VIMAX vs. VEXAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) and Vanguard Extended Market Index Fund Admiral Shares (VEXAX). 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.

VIMAXVEXAXDifference
Sharpe ratioReturn per unit of total volatility
1.17
1.16

0.00

Sortino ratioReturn per unit of downside risk
1.70
1.72

-0.02

Omega ratioGain probability vs. loss probability

1.21

1.20

0.00

Calmar ratioReturn relative to maximum drawdown

1.81

2.02

-0.22

Martin ratioReturn relative to average drawdown

6.88

6.86

+0.02

VIMAX vs. VEXAX - Sharpe Ratio Comparison

The current VIMAX Sharpe Ratio is 1.17, which is comparable to the VEXAX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of VIMAX and VEXAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

VIMAX vs. VEXAX - Drawdown Comparison

The maximum VIMAX drawdown since its inception was -58.88%, roughly equal to the maximum VEXAX drawdown of -58.08%. Use the drawdown chart below to compare losses from any high point for VIMAX and VEXAX.

Loading charts...

Drawdown Indicators

VIMAXVEXAXDifference

Max Drawdown

Largest peak-to-trough decline

-58.88%

-58.08%

-0.80%

Max Drawdown (1Y)

Largest decline over 1 year

-8.13%

-10.25%

+2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-18.93%

-26.84%

+7.91%

Max Drawdown (5Y)

Largest decline over 5 years

-27.55%

-36.33%

+8.78%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-41.62%

+2.32%

Current Drawdown

Current decline from peak

-0.44%

-3.74%

+3.30%

Average Drawdown

Average peak-to-trough decline

-8.07%

-12.12%

+4.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

3.02%

-0.89%

Volatility

VIMAX vs. VEXAX - Volatility Comparison

The current volatility for Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) is 2.10%, while Vanguard Extended Market Index Fund Admiral Shares (VEXAX) has a volatility of 3.90%. This indicates that VIMAX experiences smaller price fluctuations and is considered to be less risky than VEXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VIMAXVEXAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.10%

3.90%

-1.80%

Volatility (6M)

Calculated over the trailing 6-month period

9.49%

13.32%

-3.83%

Volatility (1Y)

Calculated over the trailing 1-year period

12.60%

17.81%

-5.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.63%

22.41%

-4.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.84%

22.35%

-3.51%

VIMAX vs. VEXAX - Expense Ratio Comparison

Both VIMAX and VEXAX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VIMAX vs. VEXAX - Dividend Comparison

VIMAX's dividend yield for the trailing twelve months is around 1.31%, more than VEXAX's 1.03% yield.

PositionTTM20252024202320222021202020192018201720162015
VEXAX
Vanguard Extended Market Index Fund Admiral Shares		1.03%1.14%1.09%1.25%1.15%1.13%1.07%1.30%1.66%1.25%1.43%1.35%
VIMAX
Vanguard Mid-Cap Index Fund Admiral Shares		1.31%1.51%1.48%1.50%1.59%1.11%1.44%1.47%1.82%1.35%1.45%1.47%

Frequently Asked Questions

With a correlation of 0.91, VIMAX and VEXAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

VEXAX has higher volatility (3.90%) compared to VIMAX (2.10%). In terms of maximum drawdown, VIMAX dropped -58.88% vs VEXAX's -58.08%.

VIMAX currently has the higher Sharpe Ratio (1.17 vs 1.16), 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.

Portfolio Optimizer

Find the right allocation for VIMAX and VEXAX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer