VINIX vs. VLISX
VINIX (Vanguard Institutional Index Fund Institutional Shares) and VLISX (Vanguard Large-Cap Index Fund Institutional Shares) are both mutual funds - VINIX is a S&P 500 fund tracking the S&P 500 Index, while VLISX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VINIX returned 15.63%/yr vs 15.57%/yr for VLISX. With a 1.00 correlation, they move nearly in lockstep. VINIX charges 0.04%/yr vs 0.04%/yr for VLISX.
Performance
VINIX vs. VLISX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VINIX having a 10.87% return and VLISX slightly lower at 10.67%. Both investments have delivered pretty close results over the past 10 years, with VINIX having a 15.63% annualized return and VLISX not far behind at 15.57%.
VINIX
- 1D
- -0.73%
- 1M
- 4.17%
- YTD
- 10.87%
- 6M
- 10.79%
- 1Y
- 28.00%
- 3Y*
- 22.85%
- 5Y*
- 14.03%
- 10Y*
- 15.63%
VLISX
- 1D
- -0.75%
- 1M
- 4.34%
- YTD
- 10.67%
- 6M
- 10.47%
- 1Y
- 27.69%
- 3Y*
- 22.67%
- 5Y*
- 13.54%
- 10Y*
- 15.57%
VINIX vs. VLISX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VINIX Vanguard Institutional Index Fund Institutional Shares | 10.87% | 17.85% | 26.28% | 25.77% | -18.15% | 28.67% | 18.40% | 31.46% | -4.42% | 21.79% |
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 10.67% | 18.11% | 25.12% | 27.26% | -19.68% | 27.04% | 21.04% | 31.38% | -4.47% | 22.04% |
Correlation
The correlation between VINIX and VLISX 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 Feb 2, 2004 | 1.00 |
The correlation between VINIX and VLISX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VINIX vs. VLISX — Risk / Return Rank
VINIX
VLISX
VINIX vs. VLISX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Shares (VINIX) and Vanguard Large-Cap Index Fund Institutional Shares (VLISX). 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.
| VINIX | VLISX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.42 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 3.03 | +0.13 |
| Martin ratioReturn relative to average drawdown | 14.78 | 13.93 | +0.85 |
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
| VINIX | VLISX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.33 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.79 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.86 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.59 | +0.02 |
Drawdowns
VINIX vs. VLISX - Drawdown Comparison
The maximum VINIX drawdown since its inception was -55.19%, roughly equal to the maximum VLISX drawdown of -54.48%. Use the drawdown chart below to compare losses from any high point for VINIX and VLISX.
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Drawdown Indicators
| VINIX | VLISX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -54.48% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -9.19% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -19.01% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -25.65% | +1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -33.97% | +0.18% |
Current DrawdownCurrent decline from peak | -0.73% | -0.75% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -8.53% | -6.74% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 2.00% | -0.10% |
Volatility
VINIX vs. VLISX - Volatility Comparison
Vanguard Institutional Index Fund Institutional Shares (VINIX) and Vanguard Large-Cap Index Fund Institutional Shares (VLISX) have volatilities of 2.93% and 2.91%, 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
| VINIX | VLISX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.91% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.99% | 9.03% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.89% | 11.95% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.89% | 17.16% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 18.20% | -0.14% |
VINIX vs. VLISX - Expense Ratio Comparison
VINIX has a 0.04% expense ratio, which is lower than VLISX's 0.04% 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
VINIX vs. VLISX - Dividend Comparison
VINIX's dividend yield for the trailing twelve months is around 2.41%, more than VLISX's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VINIX Vanguard Institutional Index Fund Institutional Shares | 2.41% | 2.10% | 3.64% | 2.65% | 3.38% | 4.77% | 3.06% | 2.85% | 2.43% | 1.82% | 2.36% | 2.45% |
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 0.98% | 1.08% | 1.24% | 1.41% | 1.67% | 1.19% | 1.46% | 1.81% | 2.09% | 1.76% | 1.99% | 1.97% |
Frequently Asked Questions
With a correlation of 1.00, VINIX and VLISX 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 (2.93%) compared to VLISX (2.91%). In terms of maximum drawdown, VINIX dropped -55.19% vs VLISX's -54.48%.
VINIX currently has the higher Sharpe Ratio (2.37 vs 2.33), 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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