VISGX vs. VSGIX

Last updated Jun 25, 2026

VISGX (Vanguard Small Cap Growth Index Fund) and VSGIX (Vanguard Small-Cap Growth Index Fund Institutional Shares) are both Small Cap Growth Equities funds from Vanguard. Over the past 10 years, VISGX returned 11.87%/yr vs 12.03%/yr for VSGIX. With a 1.00 correlation, they move nearly in lockstep. VISGX charges 0.19%/yr vs 0.06%/yr for VSGIX.

Performance

VISGX vs. VSGIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with VISGX having a 16.79% return and VSGIX slightly higher at 16.88%. Both investments have delivered pretty close results over the past 10 years, with VISGX having a 11.87% annualized return and VSGIX not far ahead at 12.03%.

VISGX

• 1D: -1.58%
• 1M: 1.47%
• YTD: 16.79%
• 6M: 13.70%
• 1Y: 28.46%
• 3Y*: 17.39%
• 5Y*: 4.45%
• 10Y*: 11.87%

VSGIX

• 1D: -1.58%
• 1M: 1.48%
• YTD: 16.88%
• 6M: 13.79%
• 1Y: 28.63%
• 3Y*: 17.59%
• 5Y*: 4.62%
• 10Y*: 12.03%

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

VISGX vs. VSGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VISGX Vanguard Small Cap Growth Index Fund	16.79%	8.18%	14.80%	22.91%	-28.50%	5.58%	35.11%	32.60%	-5.81%	21.78%
VSGIX Vanguard Small-Cap Growth Index Fund Institutional Shares	16.88%	8.44%	14.95%	23.07%	-28.39%	5.70%	35.29%	32.77%	-5.70%	21.94%

Correlation

The correlation between VISGX and VSGIX 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 May 24, 2000	1.00

The correlation between VISGX and VSGIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

VISGX vs. VSGIX — Risk / Return Rank

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

VISGX

VISGX Risk / Return Rank: 40
VISGX Sharpe Ratio Rank: 33
VISGX Sortino Ratio Rank: 31
VISGX Omega Ratio Rank: 29
VISGX Calmar Ratio Rank: 55
VISGX Martin Ratio Rank: 52

VSGIX

VSGIX Risk / Return Rank: 40
VSGIX Sharpe Ratio Rank: 32
VSGIX Sortino Ratio Rank: 31
VSGIX Omega Ratio Rank: 29
VSGIX Calmar Ratio Rank: 55
VSGIX Martin Ratio Rank: 53

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. VSGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small Cap Growth Index Fund (VISGX) and Vanguard Small-Cap Growth Index Fund Institutional Shares (VSGIX). 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	VSGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.50	-0.01
Sortino ratio: Return per unit of downside risk	2.10	2.11	-0.01
Omega ratio: Gain probability vs. loss probability	1.25	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.67	2.68	-0.02
Martin ratio: Return relative to average drawdown	9.96	10.04	-0.08

VISGX vs. VSGIX - Sharpe Ratio Comparison

The current VISGX Sharpe Ratio is 1.49, which is comparable to the VSGIX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of VISGX and VSGIX, 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. VSGIX - Drawdown Comparison

The maximum VISGX drawdown since its inception was -58.74%, roughly equal to the maximum VSGIX drawdown of -58.66%. Use the drawdown chart below to compare losses from any high point for VISGX and VSGIX.

Drawdown Indicators

	VISGX	VSGIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.74%	-58.66%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.39%	-11.38%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-27.58%	-27.47%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-38.41%	-38.36%	-0.05%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-38.70%	0.00%
Current Drawdown Current decline from peak	-1.59%	-1.58%	-0.01%
Average Drawdown Average peak-to-trough decline	-11.59%	-11.31%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.04%	0.00%

Volatility

VISGX vs. VSGIX - Volatility Comparison

Vanguard Small Cap Growth Index Fund (VISGX) and Vanguard Small-Cap Growth Index Fund Institutional Shares (VSGIX) have volatilities of 7.13% and 7.13%, 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	VSGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	7.13%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	15.88%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	20.35%	20.35%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	23.71%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	23.03%	+0.01%

VISGX vs. VSGIX - Expense Ratio Comparison

VISGX has a 0.19% expense ratio, which is higher than VSGIX's 0.06% 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. VSGIX - Dividend Comparison

VISGX's dividend yield for the trailing twelve months is around 0.35%, less than VSGIX's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VISGX Vanguard Small Cap Growth Index Fund	0.35%	0.33%	0.42%	0.56%	0.46%	0.23%	0.35%	0.47%	0.65%	0.71%	0.97%	0.84%
VSGIX Vanguard Small-Cap Growth Index Fund Institutional Shares	0.46%	0.55%	0.55%	0.68%	0.56%	0.37%	0.45%	0.58%	0.80%	0.82%	1.09%	0.98%

Frequently Asked Questions

Can I hold both VISGX and VSGIX in my portfolio?

With a correlation of 1.00, VISGX and VSGIX 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 VSGIX?

VSGIX has higher volatility (7.13%) compared to VISGX (7.13%). In terms of maximum drawdown, VISGX dropped -58.74% vs VSGIX's -58.66%.

Which has better risk-adjusted returns?

VSGIX currently has the higher Sharpe Ratio (1.50 vs 1.49), 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.