VISGX vs. VMGMX

Last updated Jun 24, 2026

VISGX (Vanguard Small Cap Growth Index Fund) and VMGMX (Vanguard Mid-Cap Growth Index Fund Admiral Shares) are both mutual funds - VISGX is a Small Cap Growth Equities fund managed by Vanguard, while VMGMX is a Mid Cap Growth Equities fund tracking the CRSP US Mid Cap Growth Index. Over the past 10 years, VISGX returned 12.05%/yr vs 12.73%/yr for VMGMX. Their correlation of 0.94 suggests significant overlap in exposure. VISGX charges 0.19%/yr vs 0.07%/yr for VMGMX.

Performance

VISGX vs. VMGMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small Cap Growth Index Fund (VISGX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VISGX achieves a 18.66% return, which is significantly higher than VMGMX's 10.13% return. Over the past 10 years, VISGX has underperformed VMGMX with an annualized return of 12.05%, while VMGMX has yielded a comparatively higher 12.73% annualized return.

VISGX

• 1D: 0.30%
• 1M: 3.09%
• YTD: 18.66%
• 6M: 15.65%
• 1Y: 32.31%
• 3Y*: 18.02%
• 5Y*: 4.96%
• 10Y*: 12.05%

VMGMX

• 1D: 0.24%
• 1M: 5.32%
• YTD: 10.13%
• 6M: 8.21%
• 1Y: 12.36%
• 3Y*: 16.49%
• 5Y*: 6.34%
• 10Y*: 12.73%

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

VISGX vs. VMGMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VISGX Vanguard Small Cap Growth Index Fund	18.66%	8.18%	14.80%	22.91%	-28.50%	5.58%	35.11%	32.60%	-5.81%	21.78%
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	10.13%	10.69%	15.65%	23.93%	-28.84%	20.48%	34.45%	33.85%	-5.61%	21.83%

Correlation

The correlation between VISGX and VMGMX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011	0.94

The correlation between VISGX and VMGMX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

VISGX vs. VMGMX — Risk / Return Rank

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

VISGX

VISGX Risk / Return Rank: 45
VISGX Sharpe Ratio Rank: 37
VISGX Sortino Ratio Rank: 34
VISGX Omega Ratio Rank: 32
VISGX Calmar Ratio Rank: 63
VISGX Martin Ratio Rank: 58

VMGMX

VMGMX Risk / Return Rank: 10
VMGMX Sharpe Ratio Rank: 10
VMGMX Sortino Ratio Rank: 10
VMGMX Omega Ratio Rank: 10
VMGMX Calmar Ratio Rank: 9
VMGMX Martin Ratio Rank: 9

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.

VISGX vs. VMGMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small Cap Growth Index Fund (VISGX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX). 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.

	VISGX	VMGMX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	0.79	+0.85
Sortino ratio: Return per unit of downside risk	2.28	1.19	+1.08
Omega ratio: Gain probability vs. loss probability	1.28	1.14	+0.14
Calmar ratio: Return relative to maximum drawdown	2.92	0.84	+2.09
Martin ratio: Return relative to average drawdown	10.93	2.50	+8.43

VISGX vs. VMGMX - Sharpe Ratio Comparison

The current VISGX Sharpe Ratio is 1.64, which is higher than the VMGMX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of VISGX and VMGMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VISGX vs. VMGMX - Drawdown Comparison

The maximum VISGX drawdown since its inception was -58.74%, which is greater than VMGMX's maximum drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for VISGX and VMGMX.

Drawdown Indicators

	VISGX	VMGMX	Difference
Max Drawdown Largest peak-to-trough decline	-58.74%	-37.17%	-21.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.39%	-15.95%	+4.56%
Max Drawdown (3Y) Largest decline over 3 years	-27.58%	-21.65%	-5.93%
Max Drawdown (5Y) Largest decline over 5 years	-38.41%	-37.17%	-1.24%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-37.17%	-1.53%
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-11.59%	-7.00%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	5.34%	-2.30%

Volatility

VISGX vs. VMGMX - Volatility Comparison

Vanguard Small Cap Growth Index Fund (VISGX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) have volatilities of 6.94% and 6.71%, 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.

Volatility by Period

	VISGX	VMGMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	6.71%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	15.80%	13.64%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	20.32%	16.93%	+3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.70%	21.57%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.06%	21.07%	+1.99%

VISGX vs. VMGMX - Expense Ratio Comparison

VISGX has a 0.19% expense ratio, which is higher than VMGMX's 0.07% 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

VISGX vs. VMGMX - Dividend Comparison

VISGX's dividend yield for the trailing twelve months is around 0.34%, less than VMGMX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VISGX Vanguard Small Cap Growth Index Fund	0.34%	0.33%	0.42%	0.56%	0.46%	0.23%	0.35%	0.47%	0.65%	0.71%	0.97%	0.84%
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	0.60%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.82%

Frequently Asked Questions

Can I hold both VISGX and VMGMX in my portfolio?

With a correlation of 0.90, VISGX and VMGMX 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.

Which is riskier, VISGX or VMGMX?

VISGX has higher volatility (6.94%) compared to VMGMX (6.71%). In terms of maximum drawdown, VISGX dropped -58.74% vs VMGMX's -37.17%.

Which has better risk-adjusted returns?

VISGX currently has the higher Sharpe Ratio (1.64 vs 0.79), 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.