VIMSX vs. VMVAX

Last updated Aug 1, 2026

VIMSX (Vanguard Mid Cap Index Fund) and VMVAX (Vanguard Mid-Cap Value Index Fund Admiral Shares) are both mutual funds - VIMSX is a Mid Cap Blend Equities fund managed by Vanguard, while VMVAX is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index. Over the past 10 years, VIMSX returned 11.19%/yr vs 10.77%/yr for VMVAX. Their correlation of 0.94 means they have usually moved in the same direction. VIMSX charges 0.17%/yr vs 0.07%/yr for VMVAX.

Performance

VIMSX vs. VMVAX - Performance Comparison

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

Returns By Period

In the year-to-date period, VIMSX achieves a 12.33% return, which is significantly lower than VMVAX's 16.91% return. Both investments have delivered pretty close results over the past 10 years, with VIMSX having a 11.19% annualized return and VMVAX not far behind at 10.77%.

VIMSX

• 1D: 0.44%
• 1M: 0.53%
• 6M: 10.04%
• YTD: 12.33%
• 1Y: 16.39%
• 3Y*: 13.90%
• 5Y*: 7.55%
• 10Y*: 11.19%
• ALL TIME*: 10.08%

VMVAX

• 1D: -0.33%
• 1M: 2.54%
• 6M: 12.16%
• YTD: 16.91%
• 1Y: 26.28%
• 3Y*: 15.18%
• 5Y*: 10.18%
• 10Y*: 10.77%
• ALL TIME*: 12.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VIMSX Vanguard Mid Cap Index Fund	$0.00	$0.00	$0.00
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	$0.00	$0.00	$0.00

VIMSX vs. VMVAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIMSX Vanguard Mid Cap Index Fund	12.33%	11.08%	14.52%	16.40%	-18.80%	24.36%	18.04%	30.85%	-9.35%	19.12%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	16.91%	12.06%	13.63%	10.12%	-7.89%	28.77%	2.45%	28.03%	-12.44%	17.04%

Correlation

The correlation between VIMSX and VMVAX is 0.86, 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.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.94

The correlation between VIMSX and VMVAX has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.

Return for Risk

VIMSX vs. VMVAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VIMSX

VIMSX Risk / Return Rank: 43
VIMSX Sharpe Ratio Rank: 39
VIMSX Sortino Ratio Rank: 40
VIMSX Omega Ratio Rank: 37
VIMSX Calmar Ratio Rank: 49
VIMSX Martin Ratio Rank: 50

VMVAX

VMVAX Risk / Return Rank: 89
VMVAX Sharpe Ratio Rank: 89
VMVAX Sortino Ratio Rank: 87
VMVAX Omega Ratio Rank: 83
VMVAX Calmar Ratio Rank: 92
VMVAX Martin Ratio Rank: 93

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.

VIMSX vs. VMVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid Cap Index Fund (VIMSX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). 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.

	VIMSX	VMVAX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.19	-1.04
Sortino ratio: Return per unit of downside risk	1.68	3.18	-1.50
Omega ratio: Gain probability vs. loss probability	1.21	1.39	-0.18
Calmar ratio: Return relative to maximum drawdown	1.79	3.58	-1.79
Martin ratio: Return relative to average drawdown	6.80	13.96	-7.15

VIMSX vs. VMVAX - Sharpe Ratio Comparison

The current VIMSX Sharpe Ratio is 1.15, which is lower than the VMVAX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of VIMSX and VMVAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIMSX vs. VMVAX - Drawdown Comparison

The maximum VIMSX drawdown since its inception was -58.96%, which is greater than VMVAX's maximum drawdown of -43.07%. Use the drawdown chart below to compare losses from any high point for VIMSX and VMVAX.

Drawdown Indicators

	VIMSX	VMVAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.96%	-43.07%	-15.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-6.95%	-1.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-18.40%	-0.91%
Max Drawdown (5Y) Largest decline over 5 years	-27.63%	-19.75%	-7.88%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-43.07%	+3.78%
Current Drawdown Current decline from peak	-0.45%	-1.07%	+0.62%
Average Drawdown Average peak-to-trough decline	-8.03%	-4.33%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.78%	+0.35%

Volatility

VIMSX vs. VMVAX - Volatility Comparison

The current volatility for Vanguard Mid Cap Index Fund (VIMSX) is 2.10%, while Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) has a volatility of 2.69%. This indicates that VIMSX experiences smaller price fluctuations and is considered to be less risky than VMVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIMSX	VMVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	2.69%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	8.12%	+1.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	11.39%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	15.88%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	18.69%	+0.15%

VIMSX vs. VMVAX - Expense Ratio Comparison

VIMSX has a 0.17% expense ratio, which is higher than VMVAX's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VIMSX vs. VMVAX - Dividend Comparison

VIMSX's dividend yield for the trailing twelve months is around 1.20%, less than VMVAX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIMSX Vanguard Mid Cap Index Fund	1.20%	1.03%	1.37%	1.39%	1.46%	1.00%	1.34%	1.37%	1.68%	1.24%	1.34%	1.33%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	1.81%	2.10%	2.11%	2.26%	2.27%	1.78%	2.36%	2.08%	2.75%	1.86%	1.91%	2.04%

Frequently Asked Questions

Can I hold both VIMSX and VMVAX in my portfolio?

VIMSX and VMVAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIMSX or VMVAX?

VMVAX has higher volatility (2.69%) compared to VIMSX (2.10%). In terms of maximum drawdown, VIMSX dropped -58.96% vs VMVAX's -43.07%.

Which has better risk-adjusted returns?

VMVAX currently has the higher Sharpe Ratio (2.19 vs 1.15), 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.