VIMAX vs. VSPMX
VIMAX (Vanguard Mid-Cap Index Fund Admiral Shares) and VSPMX (Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares) are both Mid Cap Blend Equities funds from Vanguard. Over the past 10 years, VIMAX returned 11.58%/yr vs 11.22%/yr for VSPMX. With a 0.95 correlation, they move nearly in lockstep. VIMAX charges 0.05%/yr vs 0.08%/yr for VSPMX.
Performance
VIMAX vs. VSPMX - Performance Comparison
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Returns By Period
In the year-to-date period, VIMAX achieves a 10.54% return, which is significantly lower than VSPMX's 14.18% return. Both investments have delivered pretty close results over the past 10 years, with VIMAX having a 11.58% annualized return and VSPMX not far behind at 11.22%.
VIMAX
- 1D
- 0.90%
- 1M
- 3.68%
- YTD
- 10.54%
- 6M
- 10.20%
- 1Y
- 18.73%
- 3Y*
- 16.82%
- 5Y*
- 8.10%
- 10Y*
- 11.58%
VSPMX
- 1D
- 0.87%
- 1M
- 3.95%
- YTD
- 14.18%
- 6M
- 14.43%
- 1Y
- 25.60%
- 3Y*
- 16.00%
- 5Y*
- 8.22%
- 10Y*
- 11.22%
VIMAX vs. VSPMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares | 10.54% | 11.67% | 14.66% | 16.53% | -18.70% | 24.51% | 18.18% | 31.03% | -9.24% | 19.26% |
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | 14.18% | 7.11% | 12.83% | 17.42% | -13.12% | 24.66% | 13.53% | 26.12% | -11.14% | 16.18% |
Correlation
The correlation between VIMAX and VSPMX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012 | 0.95 |
The correlation between VIMAX and VSPMX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
VIMAX vs. VSPMX — Risk / Return Rank
VIMAX
VSPMX
VIMAX vs. VSPMX - 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 S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX). 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 | VSPMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.09 | -0.65 |
| Martin ratioReturn relative to average drawdown | 9.28 | 11.30 | -2.02 |
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 | VSPMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.77 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.42 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.54 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.63 | -0.13 |
Drawdowns
VIMAX vs. VSPMX - Drawdown Comparison
The maximum VIMAX drawdown since its inception was -58.88%, which is greater than VSPMX's maximum drawdown of -42.04%. Use the drawdown chart below to compare losses from any high point for VIMAX and VSPMX.
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Drawdown Indicators
| VIMAX | VSPMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.88% | -42.04% | -16.84% |
Max Drawdown (1Y)Largest decline over 1 year | -8.13% | -8.82% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -18.93% | -24.27% | +5.34% |
Max Drawdown (5Y)Largest decline over 5 years | -27.55% | -24.27% | -3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -42.04% | +2.74% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -5.09% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 2.41% | -0.27% |
Volatility
VIMAX vs. VSPMX - Volatility Comparison
The current volatility for Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) is 2.97%, while Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) has a volatility of 4.44%. This indicates that VIMAX experiences smaller price fluctuations and is considered to be less risky than VSPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIMAX | VSPMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 4.44% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 9.28% | 11.30% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.30% | 15.44% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.63% | 19.65% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 21.02% | -2.10% |
VIMAX vs. VSPMX - Expense Ratio Comparison
VIMAX has a 0.05% expense ratio, which is lower than VSPMX'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
VIMAX vs. VSPMX - Dividend Comparison
VIMAX's dividend yield for the trailing twelve months is around 1.34%, more than VSPMX's 1.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares | 1.34% | 1.51% | 1.48% | 1.50% | 1.59% | 1.11% | 1.44% | 1.47% | 1.82% | 1.35% | 1.45% | 1.47% |
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | 1.22% | 1.07% | 1.32% | 1.26% | 1.59% | 1.15% | 1.24% | 1.49% | 1.64% | 1.27% | 1.54% | 1.52% |
Frequently Asked Questions
With a correlation of 0.92, VIMAX and VSPMX 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.
VSPMX has higher volatility (4.44%) compared to VIMAX (2.97%). In terms of maximum drawdown, VIMAX dropped -58.88% vs VSPMX's -42.04%.
VSPMX currently has the higher Sharpe Ratio (1.77 vs 1.61), 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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