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VINIX vs. IVV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VINIX vs. IVV

Last updated Jun 14, 2026

VINIX (Vanguard Institutional Index Fund Institutional Shares) and IVV (iShares Core S&P 500 ETF) are both S&P 500 funds tracking the S&P 500 Index, from Vanguard and iShares respectively. Both are passively managed. Over the past 10 years, VINIX returned 15.50%/yr vs 15.47%/yr for IVV. With a 0.99 correlation, they move nearly in lockstep. VINIX charges 0.04%/yr vs 0.03%/yr for IVV.

Performance

VINIX vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Institutional Index Fund Institutional Shares (VINIX) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VINIX achieves a 8.58% return, which is significantly lower than IVV's 9.08% return. Both investments have delivered pretty close results over the past 10 years, with VINIX having a 15.50% annualized return and IVV not far behind at 15.47%.

VINIX

1D
1.75%
1M
-1.31%
YTD
8.58%
6M
8.93%
1Y
25.16%
3Y*
21.46%
5Y*
13.46%
10Y*
15.50%

IVV

1D
0.55%
1M
-0.85%
YTD
9.08%
6M
9.43%
1Y
25.77%
3Y*
20.95%
5Y*
13.42%
10Y*
15.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VINIX vs. IVV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VINIX
Vanguard Institutional Index Fund Institutional Shares		8.58%17.85%26.28%25.77%-18.15%28.67%18.40%31.46%-4.42%21.79%
IVV
iShares Core S&P 500 ETF		9.08%17.85%24.93%26.31%-18.16%28.76%18.40%31.07%-4.49%21.75%

Correlation

The correlation between VINIX and IVV is 1.00 - 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

1.00

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 May 19, 2000

0.99

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

VINIX vs. IVV - Sectors Allocation Comparison

Sectors
VINIX
IVV

Technology

35.7%
39.0%

Financial Services

11.6%
11.1%

Communication Services

11.3%
10.6%

Consumer Cyclical

10.2%
9.9%

Healthcare

8.5%
8.3%

Industrials

8.3%
7.8%

Consumer Defensive

4.9%
4.5%

Energy

3.5%
3.1%

Utilities

2.4%
2.1%

Real Estate

1.9%
1.8%

Basic Materials

1.8%
1.7%

Technology

VINIX
35.7%
IVV
39.0%

Financial Services

VINIX
11.6%
IVV
11.1%

Communication Services

VINIX
11.3%
IVV
10.6%

Consumer Cyclical

VINIX
10.2%
IVV
9.9%

Healthcare

VINIX
8.5%
IVV
8.3%

Industrials

VINIX
8.3%
IVV
7.8%

Consumer Defensive

VINIX
4.9%
IVV
4.5%

Energy

VINIX
3.5%
IVV
3.1%

Utilities

VINIX
2.4%
IVV
2.1%

Real Estate

VINIX
1.9%
IVV
1.8%

Basic Materials

VINIX
1.8%
IVV
1.7%

Compare stocks, funds, or ETFs

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

Vanguard Institutional Index Fund Institutional Shares

iShares Core S&P 500 ETF

Often compared with VINIX:
VINIX vs. VOOVINIX vs. VIGIXVINIX vs. JLGMXVINIX vs. VITSXVINIX vs. VTIVINIX vs. VSIAXVINIX vs. VSCIX
Often compared with IVV:
IVV vs. VOOIVV vs. SPYIVV vs. FXAIXIVV vs. QQQIVV vs. VTIIVV vs. IOOIVV vs. CSPX.L

Return for Risk

VINIX vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VINIX
VINIX Risk / Return Rank: 7373
Overall Rank
VINIX Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VINIX Sortino Ratio Rank: 6868
Sortino Ratio Rank
VINIX Omega Ratio Rank: 6868
Omega Ratio Rank
VINIX Calmar Ratio Rank: 7373
Calmar Ratio Rank
VINIX Martin Ratio Rank: 8383
Martin Ratio Rank
IVV
IVV Risk / Return Rank: 7070
Overall Rank
IVV Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IVV Sortino Ratio Rank: 6969
Sortino Ratio Rank
IVV Omega Ratio Rank: 7171
Omega Ratio Rank
IVV Calmar Ratio Rank: 6363
Calmar Ratio Rank
IVV Martin Ratio Rank: 7676
Martin Ratio Rank
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.

VINIX vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Shares (VINIX) and iShares Core S&P 500 ETF (IVV). 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.

VINIXIVVDifference
Sharpe ratioReturn per unit of total volatility
1.97
2.00

-0.03

Sortino ratioReturn per unit of downside risk
2.67
2.70

-0.02

Omega ratioGain probability vs. loss probability

1.36

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

2.74

2.76

-0.02

Martin ratioReturn relative to average drawdown

12.44

12.43

+0.01

VINIX vs. IVV - Sharpe Ratio Comparison

The current VINIX Sharpe Ratio is 1.97, which is comparable to the IVV Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VINIX and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VINIX vs. IVV - Drawdown Comparison

The maximum VINIX drawdown since its inception was -55.19%, roughly equal to the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for VINIX and IVV.

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Drawdown Indicators

VINIXIVVDifference

Max Drawdown

Largest peak-to-trough decline

-55.19%

-55.25%

+0.06%

Max Drawdown (1Y)

Largest decline over 1 year

-8.90%

-8.89%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-18.75%

-18.75%

0.00%

Max Drawdown (5Y)

Largest decline over 5 years

-24.51%

-24.53%

+0.02%

Max Drawdown (10Y)

Largest decline over 10 years

-33.79%

-33.90%

+0.11%

Current Drawdown

Current decline from peak

-2.79%

-2.35%

-0.44%

Average Drawdown

Average peak-to-trough decline

-8.52%

-10.77%

+2.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

1.97%

-0.02%

Volatility

VINIX vs. IVV - Volatility Comparison

Vanguard Institutional Index Fund Institutional Shares (VINIX) and iShares Core S&P 500 ETF (IVV) have volatilities of 4.43% and 4.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VINIXIVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.43%

4.37%

+0.06%

Volatility (6M)

Calculated over the trailing 6-month period

9.70%

9.59%

+0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

12.37%

12.28%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.96%

16.95%

+0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.09%

18.08%

+0.01%

VINIX vs. IVV - Expense Ratio Comparison

VINIX has a 0.04% expense ratio, which is higher than IVV's 0.03% 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

VINIX vs. IVV - Dividend Comparison

VINIX's dividend yield for the trailing twelve months is around 2.46%, more than IVV's 1.08% yield.

PositionTTM20252024202320222021202020192018201720162015
IVV
iShares Core S&P 500 ETF		1.08%1.17%1.30%1.44%1.66%1.20%1.57%1.85%2.21%1.75%2.01%2.27%
VINIX
Vanguard Institutional Index Fund Institutional Shares		2.46%2.10%3.64%2.65%3.38%4.77%3.06%2.85%2.43%1.82%2.36%2.45%

Frequently Asked Questions

With a correlation of 1.00, VINIX and IVV 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.

VINIX has higher volatility (4.43%) compared to IVV (4.37%). In terms of maximum drawdown, VINIX dropped -55.19% vs IVV's -55.25%.

IVV currently has the higher Sharpe Ratio (2.00 vs 1.97), 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

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