VIMAX vs. VMNIX
Compare and contrast key facts about Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX).
VIMAX is managed by Vanguard. It was launched on Nov 12, 2001. VMNIX is managed by Vanguard. It was launched on Oct 19, 1998.
Performance
VIMAX vs. VMNIX - Performance Comparison
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Returns By Period
In the year-to-date period, VIMAX achieves a 0.32% return, which is significantly lower than VMNIX's 6.05% return. Over the past 10 years, VIMAX has outperformed VMNIX with an annualized return of 10.84%, while VMNIX has yielded a comparatively lower 4.05% annualized return.
VIMAX
- 1D
- 0.39%
- 1M
- -3.13%
- YTD
- 0.32%
- 6M
- -1.01%
- 1Y
- 25.69%
- 3Y*
- 13.03%
- 5Y*
- 6.86%
- 10Y*
- 10.84%
VMNIX
- 1D
- -0.40%
- 1M
- 3.02%
- YTD
- 6.05%
- 6M
- 10.80%
- 1Y
- 16.63%
- 3Y*
- 11.81%
- 5Y*
- 12.51%
- 10Y*
- 4.05%
VIMAX vs. VMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares | 0.32% | 11.67% | 14.66% | 16.53% | -18.70% | 24.51% | 18.18% | 31.03% | -9.24% | 19.26% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 6.05% | 9.36% | 5.84% | 12.33% | 13.47% | 23.39% | -11.58% | -9.48% | 0.66% | -4.83% |
Correlation
The correlation between VIMAX and VMNIX is 0.01, meaning there is essentially no relationship between their price movements. They neither move together nor in opposition — each responds to its own set of market drivers. This independence makes them strong candidates for combining in a diversified portfolio.
VIMAX vs. VMNIX - Expense Ratio Comparison
VIMAX has a 0.05% expense ratio, which is lower than VMNIX's 1.25% expense ratio.
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Return for Risk
VIMAX vs. VMNIX — Risk / Return Rank
VIMAX
VMNIX
VIMAX vs. VMNIX - 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 Market Neutral Fund Institutional Shares (VMNIX). 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.
| VIMAX | VMNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.70 | 2.05 | -1.35 |
Sortino ratioReturn per unit of downside risk | 1.09 | 3.04 | -1.95 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 3.17 | -2.11 |
Martin ratioReturn relative to average drawdown | 4.79 | 9.02 | -4.24 |
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
| VIMAX | VMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 2.05 | -1.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.74 | -1.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.64 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.31 | +0.17 |
Drawdowns
VIMAX vs. VMNIX - Drawdown Comparison
The maximum VIMAX drawdown since its inception was -58.88%, which is greater than VMNIX's maximum drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for VIMAX and VMNIX.
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Drawdown Indicators
| VIMAX | VMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.88% | -27.90% | -30.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.13% | -4.95% | -3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -27.55% | -6.69% | -20.86% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -24.95% | -14.35% |
Current DrawdownCurrent decline from peak | -5.18% | -0.40% | -4.78% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -8.81% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 1.74% | +1.07% |
Volatility
VIMAX vs. VMNIX - Volatility Comparison
Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) has a higher volatility of 4.86% compared to Vanguard Market Neutral Fund Institutional Shares (VMNIX) at 1.77%. This indicates that VIMAX's price experiences larger fluctuations and is considered to be riskier than VMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIMAX | VMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 1.77% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 5.76% | +3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.67% | 7.63% | +10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.64% | 7.20% | +10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 6.36% | +12.55% |
Dividends
VIMAX vs. VMNIX - Dividend Comparison
VIMAX's dividend yield for the trailing twelve months is around 1.48%, less than VMNIX's 3.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares | 1.48% | 1.51% | 1.48% | 1.50% | 1.59% | 1.11% | 1.44% | 1.47% | 1.82% | 1.35% | 1.45% | 1.47% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 3.37% | 3.59% | 5.67% | 5.15% | 0.78% | 0.20% | 0.86% | 3.23% | 1.00% | 1.16% | 0.45% | 0.10% |