VINAX vs. VIS

Last updated Jun 24, 2026

VINAX (Vanguard Industrials Index Fund Admiral Shares) and VIS (Vanguard Industrials ETF) are both Industrials Equities funds from Vanguard. Over the past 10 years, VINAX returned 14.83%/yr vs 14.60%/yr for VIS. With a 0.99 correlation, they move nearly in lockstep. VINAX charges 0.10%/yr vs 0.09%/yr for VIS.

Performance

VINAX vs. VIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Industrials Index Fund Admiral Shares (VINAX) and Vanguard Industrials ETF (VIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VINAX achieves a 19.51% return, which is significantly higher than VIS's 17.02% return. Both investments have delivered pretty close results over the past 10 years, with VINAX having a 14.83% annualized return and VIS not far behind at 14.60%.

VINAX

• 1D: 0.65%
• 1M: 5.81%
• YTD: 19.51%
• 6M: 17.58%
• 1Y: 31.37%
• 3Y*: 23.06%
• 5Y*: 14.23%
• 10Y*: 14.83%

VIS

• 1D: -2.14%
• 1M: 3.63%
• YTD: 17.02%
• 6M: 15.14%
• 1Y: 28.65%
• 3Y*: 22.20%
• 5Y*: 13.58%
• 10Y*: 14.60%

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

VINAX vs. VIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VINAX Vanguard Industrials Index Fund Admiral Shares	19.51%	18.53%	16.95%	22.38%	-8.51%	20.66%	12.25%	30.16%	-13.93%	21.50%
VIS Vanguard Industrials ETF	17.02%	18.57%	16.85%	22.50%	-8.57%	20.80%	12.34%	30.09%	-14.01%	21.47%

Correlation

The correlation between VINAX and VIS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.99

The correlation between VINAX and VIS has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

VINAX vs. VIS - Sectors Allocation Comparison

Sectors	VINAX	VIS
Industrials	90.2%	90.2%
Technology	4.2%	4.2%
Utilities	3.8%	3.8%
Consumer Cyclical	1.1%	1.1%
Financial Services	0.2%	0.2%
Energy	0.2%	0.2%
Basic Materials	0.1%	0.1%
Communication Services	0.0%	0.0%
Real Estate	0.0%	0.0%
Healthcare	0.0%	0.0%
Consumer Defensive	-	-

Return for Risk

VINAX vs. VIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VINAX

VINAX Risk / Return Rank: 51
VINAX Sharpe Ratio Rank: 50
VINAX Sortino Ratio Rank: 48
VINAX Omega Ratio Rank: 43
VINAX Calmar Ratio Rank: 55
VINAX Martin Ratio Rank: 60

VIS

VIS Risk / Return Rank: 50
VIS Sharpe Ratio Rank: 50
VIS Sortino Ratio Rank: 50
VIS Omega Ratio Rank: 46
VIS Calmar Ratio Rank: 49
VIS Martin Ratio Rank: 57

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.

VINAX vs. VIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Industrials Index Fund Admiral Shares (VINAX) and Vanguard Industrials ETF (VIS). 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.

	VINAX	VIS	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.66	+0.26
Sortino ratio: Return per unit of downside risk	2.70	2.36	+0.34
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.72	2.34	+0.37
Martin ratio: Return relative to average drawdown	11.24	9.68	+1.56

VINAX vs. VIS - Sharpe Ratio Comparison

The current VINAX Sharpe Ratio is 1.92, which is comparable to the VIS Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of VINAX and VIS, 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

VINAX vs. VIS - Drawdown Comparison

The maximum VINAX drawdown since its inception was -63.43%, roughly equal to the maximum VIS drawdown of -63.51%. Use the drawdown chart below to compare losses from any high point for VINAX and VIS.

Drawdown Indicators

	VINAX	VIS	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-63.51%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-12.29%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-20.80%	+0.21%
Max Drawdown (5Y) Largest decline over 5 years	-23.07%	-22.96%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-42.42%	-0.03%
Current Drawdown Current decline from peak	0.00%	-2.14%	+2.14%
Average Drawdown Average peak-to-trough decline	-8.33%	-8.36%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.97%	-0.02%

Volatility

VINAX vs. VIS - Volatility Comparison

The current volatility for Vanguard Industrials Index Fund Admiral Shares (VINAX) is 6.15%, while Vanguard Industrials ETF (VIS) has a volatility of 6.60%. This indicates that VINAX experiences smaller price fluctuations and is considered to be less risky than VIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINAX	VIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	6.60%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	14.33%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	17.37%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	18.49%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	20.46%	+0.08%

VINAX vs. VIS - Expense Ratio Comparison

VINAX has a 0.10% expense ratio, which is higher than VIS's 0.09% 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

VINAX vs. VIS - Dividend Comparison

VINAX's dividend yield for the trailing twelve months is around 0.85%, less than VIS's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VINAX Vanguard Industrials Index Fund Admiral Shares	0.85%	1.01%	1.23%	1.36%	1.51%	1.06%	1.39%	1.68%	1.90%	1.60%	1.82%	1.94%
VIS Vanguard Industrials ETF	0.87%	1.01%	1.23%	1.36%	1.52%	1.11%	1.38%	1.68%	1.90%	1.60%	1.81%	1.94%

Frequently Asked Questions

Can I hold both VINAX and VIS in my portfolio?

With a correlation of 0.99, VINAX and VIS 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.

Which is riskier, VINAX or VIS?

VIS has higher volatility (6.60%) compared to VINAX (6.15%). In terms of maximum drawdown, VINAX dropped -63.43% vs VIS's -63.51%.

Which has better risk-adjusted returns?

VINAX currently has the higher Sharpe Ratio (1.92 vs 1.66), 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.