VINIX vs. WFSPX
VINIX (Vanguard Institutional Index Fund Institutional Shares) and WFSPX (iShares S&P 500 Index Fund) are both S&P 500 funds tracking the S&P 500 Index, from Vanguard and BlackRock respectively. Both are passively managed. Over the past 10 years, VINIX returned 15.50%/yr vs 15.32%/yr for WFSPX. With a 0.99 correlation, they move nearly in lockstep. VINIX charges 0.04%/yr vs 0.03%/yr for WFSPX.
Performance
VINIX vs. WFSPX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VINIX having a 8.58% return and WFSPX slightly lower at 8.57%. Both investments have delivered pretty close results over the past 10 years, with VINIX having a 15.50% annualized return and WFSPX not far behind at 15.32%.
VINIX
- 1D
- 1.75%
- 1M
- -0.55%
- YTD
- 8.58%
- 6M
- 8.93%
- 1Y
- 23.77%
- 3Y*
- 21.46%
- 5Y*
- 13.46%
- 10Y*
- 15.50%
WFSPX
- 1D
- 1.75%
- 1M
- -0.55%
- YTD
- 8.57%
- 6M
- 8.91%
- 1Y
- 23.74%
- 3Y*
- 21.02%
- 5Y*
- 13.30%
- 10Y*
- 15.32%
VINIX vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
WFSPX iShares S&P 500 Index Fund | 8.57% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between VINIX and WFSPX 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 Jul 2, 1993 | 0.99 |
The correlation between VINIX and WFSPX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
VINIX vs. WFSPX — Risk / Return Rank
VINIX
WFSPX
VINIX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Shares (VINIX) and iShares S&P 500 Index Fund (WFSPX). 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.
| VINIX | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.73 | 0.00 |
| Martin ratioReturn relative to average drawdown | 12.44 | 12.42 | +0.02 |
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Drawdowns
VINIX vs. WFSPX - Drawdown Comparison
The maximum VINIX drawdown since its inception was -55.19%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for VINIX and WFSPX.
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Drawdown Indicators
| VINIX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -58.21% | +3.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -8.90% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -18.74% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -24.51% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -33.74% | -0.05% |
Current DrawdownCurrent decline from peak | -2.79% | -2.79% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.52% | -12.76% | +4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 1.95% | 0.00% |
Volatility
VINIX vs. WFSPX - Volatility Comparison
Vanguard Institutional Index Fund Institutional Shares (VINIX) and iShares S&P 500 Index Fund (WFSPX) have volatilities of 4.43% and 4.43%, 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 | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 4.43% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 9.70% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.37% | 12.36% | +0.01% |
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% | 18.05% | +0.04% |
VINIX vs. WFSPX - Expense Ratio Comparison
VINIX has a 0.04% expense ratio, which is higher than WFSPX'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. WFSPX - Dividend Comparison
VINIX's dividend yield for the trailing twelve months is around 2.46%, more than WFSPX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WFSPX iShares S&P 500 Index Fund | 1.61% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
With a correlation of 1.00, VINIX and WFSPX 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.
WFSPX has higher volatility (4.43%) compared to VINIX (4.43%). In terms of maximum drawdown, VINIX dropped -55.19% vs WFSPX's -58.21%.
VINIX currently has the higher Sharpe Ratio (1.97 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.
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