VIOO vs. VRTGX

Last updated Jun 3, 2026

VIOO (Vanguard S&P Small-Cap 600 ETF) and VRTGX (Vanguard Russell 2000 Growth Index Fund Institutional Shares) are both funds - VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while VRTGX is a Small Cap Growth Equities fund managed by Vanguard. Over the past 10 years, VIOO returned 10.77%/yr vs 11.46%/yr for VRTGX. Their correlation of 0.90 suggests significant overlap in exposure. VIOO charges 0.10%/yr vs 0.08%/yr for VRTGX.

Performance

VIOO vs. VRTGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIOO achieves a 16.37% return, which is significantly lower than VRTGX's 17.44% return. Over the past 10 years, VIOO has underperformed VRTGX with an annualized return of 10.77%, while VRTGX has yielded a comparatively higher 11.46% annualized return.

VIOO

• 1D: 0.91%
• 1M: 1.63%
• YTD: 16.37%
• 6M: 16.85%
• 1Y: 34.98%
• 3Y*: 14.74%
• 5Y*: 5.91%
• 10Y*: 10.77%

VRTGX

• 1D: -0.49%
• 1M: 4.54%
• YTD: 17.44%
• 6M: 18.06%
• 1Y: 40.55%
• 3Y*: 18.42%
• 5Y*: 5.78%
• 10Y*: 11.46%

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

VIOO vs. VRTGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOO Vanguard S&P Small-Cap 600 ETF	16.37%	6.04%	8.48%	16.16%	-16.26%	26.79%	11.47%	22.68%	-8.65%	13.16%
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares	17.44%	12.97%	15.26%	18.80%	-26.30%	2.82%	34.81%	28.84%	-9.21%	22.27%

Correlation

The correlation between VIOO and VRTGX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 23, 2010	0.90

The correlation between VIOO and VRTGX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

VIOO vs. VRTGX — Risk / Return Rank

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

VIOO

VIOO Risk / Return Rank: 64
VIOO Sharpe Ratio Rank: 58
VIOO Sortino Ratio Rank: 61
VIOO Omega Ratio Rank: 55
VIOO Calmar Ratio Rank: 76
VIOO Martin Ratio Rank: 70

VRTGX

VRTGX Risk / Return Rank: 44
VRTGX Sharpe Ratio Rank: 43
VRTGX Sortino Ratio Rank: 40
VRTGX Omega Ratio Rank: 36
VRTGX Calmar Ratio Rank: 51
VRTGX Martin Ratio Rank: 47

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.

VIOO vs. VRTGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX). 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.

	VIOO	VRTGX	Difference
Sharpe ratio Return per unit of total volatility	2.00	1.94	+0.06
Sortino ratio Return per unit of downside risk	2.88	2.66	+0.22
Omega ratio Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio Return relative to maximum drawdown	3.93	2.76	+1.17
Martin ratio Return relative to average drawdown	13.17	9.96	+3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIOO vs. VRTGX - Sharpe Ratio Comparison

The current VIOO Sharpe Ratio is 2.00, which is comparable to the VRTGX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of VIOO and VRTGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VIOO	VRTGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.94	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.24	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.47	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.51	+0.06

Drawdowns

VIOO vs. VRTGX - Drawdown Comparison

The maximum VIOO drawdown since its inception was -44.15%, which is greater than VRTGX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for VIOO and VRTGX.

Drawdown Indicators

	VIOO	VRTGX	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-41.97%	-2.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-14.80%	+6.03%
Max Drawdown (3Y) Largest decline over 3 years	-27.93%	-28.54%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	-27.93%	-40.48%	+12.55%
Max Drawdown (10Y) Largest decline over 10 years	-44.15%	-41.97%	-2.18%
Current Drawdown Current decline from peak	-0.01%	-0.87%	+0.86%
Average Drawdown Average peak-to-trough decline	-7.34%	-10.44%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	4.10%	-1.48%

Volatility

VIOO vs. VRTGX - Volatility Comparison

The current volatility for Vanguard S&P Small-Cap 600 ETF (VIOO) is 4.40%, while Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) has a volatility of 6.44%. This indicates that VIOO experiences smaller price fluctuations and is considered to be less risky than VRTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOO	VRTGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	6.44%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	15.86%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	17.57%	21.40%	-3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	24.55%	-3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	24.51%	-1.52%

VIOO vs. VRTGX - Expense Ratio Comparison

VIOO has a 0.10% expense ratio, which is higher than VRTGX's 0.08% 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

VIOO vs. VRTGX - Dividend Comparison

VIOO's dividend yield for the trailing twelve months is around 1.17%, more than VRTGX's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIOO Vanguard S&P Small-Cap 600 ETF	1.17%	1.36%	1.48%	1.47%	1.51%	1.16%	1.09%	1.37%	1.32%	1.11%	1.06%	1.26%
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares	0.61%	0.57%	0.62%	0.85%	0.78%	0.54%	0.53%	0.90%	0.85%	0.75%	1.07%	0.84%

Frequently Asked Questions

Can I hold both VIOO and VRTGX in my portfolio?

VIOO and VRTGX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIOO or VRTGX?

VRTGX has higher volatility (6.44%) compared to VIOO (4.40%). In terms of maximum drawdown, VIOO dropped -44.15% vs VRTGX's -41.97%.

Which has better risk-adjusted returns?

VIOO currently has the higher Sharpe Ratio (2.00 vs 1.94), 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.