VIOO vs. ^SP400
VIOO (Vanguard S&P Small-Cap 600 ETF) is Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while ^SP400 (S&P 400 Index) is an index. Over the past 10 years, VIOO returned 11.31%/yr vs 9.96%/yr for ^SP400. Their correlation of 0.93 suggests significant overlap in exposure.
Performance
VIOO vs. ^SP400 - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIOO achieves a 19.31% return, which is significantly higher than ^SP400's 13.98% return. Over the past 10 years, VIOO has outperformed ^SP400 with an annualized return of 11.31%, while ^SP400 has yielded a comparatively lower 9.96% annualized return.
VIOO
- 1D
- -0.35%
- 1M
- 4.23%
- YTD
- 19.31%
- 6M
- 16.84%
- 1Y
- 34.71%
- 3Y*
- 16.19%
- 5Y*
- 6.28%
- 10Y*
- 11.31%
^SP400
- 1D
- -1.04%
- 1M
- 2.55%
- YTD
- 13.98%
- 6M
- 11.87%
- 1Y
- 23.49%
- 3Y*
- 14.42%
- 5Y*
- 6.87%
- 10Y*
- 9.96%
VIOO vs. ^SP400 - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIOO Vanguard S&P Small-Cap 600 ETF | 19.31% | 6.04% | 8.48% | 16.16% | -16.26% | 26.79% | 11.47% | 22.68% | -8.65% | 13.16% |
^SP400 S&P 400 Index | 13.98% | 5.90% | 12.20% | 14.45% | -14.48% | 23.21% | 11.81% | 24.05% | -12.50% | 14.45% |
Correlation
The correlation between VIOO and ^SP400 is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.93 |
The correlation between VIOO and ^SP400 has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIOO vs. ^SP400 — Risk / Return Rank
VIOO
^SP400
VIOO vs. ^SP400 - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and S&P 400 Index (^SP400). 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.
| VIOO | ^SP400 | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.26 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.63 | +1.34 |
| Martin ratioReturn relative to average drawdown | 13.43 | 9.46 | +3.96 |
Loading charts...
Drawdowns
VIOO vs. ^SP400 - Drawdown Comparison
The maximum VIOO drawdown since its inception was -44.15%, smaller than the maximum ^SP400 drawdown of -56.32%. Use the drawdown chart below to compare losses from any high point for VIOO and ^SP400.
Loading charts...
Drawdown Indicators
| VIOO | ^SP400 | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.15% | -56.32% | +12.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.77% | -8.96% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -27.93% | -24.46% | -3.47% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -24.46% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -42.14% | -2.01% |
Current DrawdownCurrent decline from peak | -0.47% | -1.08% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -7.12% | -0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.49% | +0.10% |
Volatility
VIOO vs. ^SP400 - Volatility Comparison
Vanguard S&P Small-Cap 600 ETF (VIOO) has a higher volatility of 4.97% compared to S&P 400 Index (^SP400) at 4.73%. This indicates that VIOO's price experiences larger fluctuations and is considered to be riskier than ^SP400 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIOO | ^SP400 | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.73% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 11.71% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.77% | 15.79% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.40% | 19.67% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.98% | 21.00% | +1.98% |
Frequently Asked Questions
With a correlation of 0.94, VIOO and ^SP400 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.
VIOO has higher volatility (4.97%) compared to ^SP400 (4.73%). In terms of maximum drawdown, VIOO dropped -44.15% vs ^SP400's -56.32%.
VIOO currently has the higher Sharpe Ratio (1.97 vs 1.50), 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.
Find the right allocation for VIOO and ^SP400
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer