VITAX vs. TOWTX

Last updated Aug 4, 2026

VITAX (Vanguard Information Technology Index Fund Admiral Shares) and TOWTX (Towpath Technology Fund) are both Technology Equities funds. Over the past 5 years, VITAX returned 17.82%/yr vs 8.87%/yr for TOWTX. Their correlation of 0.83 means they have usually moved in the same direction. VITAX charges 0.09%/yr vs 1.10%/yr for TOWTX.

Performance

VITAX vs. TOWTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Information Technology Index Fund Admiral Shares (VITAX) and Towpath Technology Fund (TOWTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VITAX achieves a 20.41% return, which is significantly higher than TOWTX's 9.57% return.

VITAX

• 1D: -0.37%
• 1M: -1.37%
• 6M: 20.46%
• YTD: 20.41%
• 1Y: 34.82%
• 3Y*: 26.49%
• 5Y*: 17.82%
• 10Y*: 24.06%
• ALL TIME*: 14.78%

TOWTX

• 1D: 1.35%
• 1M: 1.66%
• 6M: 8.84%
• YTD: 9.57%
• 1Y: 20.73%
• 3Y*: 12.12%
• 5Y*: 8.87%
• 10Y*: —
• ALL TIME*: 10.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TOWTX Towpath Technology Fund	$0.00	$0.00	$0.00
VITAX Vanguard Information Technology Index Fund Admiral Shares	$0.00	$0.00	$0.00

VITAX vs. TOWTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VITAX Vanguard Information Technology Index Fund Admiral Shares	20.41%	21.78%	29.26%	52.69%	-29.67%	33.70%
TOWTX Towpath Technology Fund	9.57%	9.55%	12.82%	29.78%	-15.96%	17.73%

Correlation

The correlation between VITAX and TOWTX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 7, 2021	0.83

The correlation between VITAX and TOWTX shifts across timeframes, from 0.69 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VITAX vs. TOWTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VITAX

VITAX Risk / Return Rank: 40
VITAX Sharpe Ratio Rank: 41
VITAX Sortino Ratio Rank: 38
VITAX Omega Ratio Rank: 37
VITAX Calmar Ratio Rank: 47
VITAX Martin Ratio Rank: 34

TOWTX

TOWTX Risk / Return Rank: 33
TOWTX Sharpe Ratio Rank: 35
TOWTX Sortino Ratio Rank: 33
TOWTX Omega Ratio Rank: 31
TOWTX Calmar Ratio Rank: 35
TOWTX Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VITAX vs. TOWTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Information Technology Index Fund Admiral Shares (VITAX) and Towpath Technology Fund (TOWTX). 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.

	VITAX	TOWTX	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.20	+0.11
Sortino ratio: Return per unit of downside risk	1.82	1.69	+0.13
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.95	1.63	+0.32
Martin ratio: Return relative to average drawdown	5.24	4.83	+0.40

VITAX vs. TOWTX - Sharpe Ratio Comparison

The current VITAX Sharpe Ratio is 1.31, which is comparable to the TOWTX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of VITAX and TOWTX, 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

VITAX vs. TOWTX - Drawdown Comparison

The maximum VITAX drawdown since its inception was -54.81%, smaller than the maximum TOWTX drawdown of -88.96%. Use the drawdown chart below to compare losses from any high point for VITAX and TOWTX.

Drawdown Indicators

	VITAX	TOWTX	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-88.96%	+34.15%
Max Drawdown (1Y) Largest decline over 1 year	-16.38%	-11.62%	-4.76%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-88.96%	+61.58%
Max Drawdown (5Y) Largest decline over 5 years	-35.10%	-88.96%	+53.86%
Max Drawdown (10Y) Largest decline over 10 years	-35.10%	—	—
Current Drawdown Current decline from peak	-9.91%	-84.62%	+74.71%
Average Drawdown Average peak-to-trough decline	-8.01%	-26.93%	+18.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.08%	3.91%	+2.17%

Volatility

VITAX vs. TOWTX - Volatility Comparison

Vanguard Information Technology Index Fund Admiral Shares (VITAX) has a higher volatility of 8.42% compared to Towpath Technology Fund (TOWTX) at 4.35%. This indicates that VITAX's price experiences larger fluctuations and is considered to be riskier than TOWTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VITAX	TOWTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.42%	4.35%	+4.07%
Volatility (6M) Calculated over the trailing 6-month period	20.17%	12.42%	+7.75%
Volatility (1Y) Calculated over the trailing 1-year period	24.34%	15.77%	+8.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.03%	146.52%	-120.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.12%	138.97%	-113.85%

VITAX vs. TOWTX - Expense Ratio Comparison

VITAX has a 0.09% expense ratio, which is lower than TOWTX's 1.10% expense ratio.

Dividends

VITAX vs. TOWTX - Dividend Comparison

VITAX's dividend yield for the trailing twelve months is around 0.38%, less than TOWTX's 1.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TOWTX Towpath Technology Fund	1.55%	1.70%	3.55%	0.42%	0.57%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VITAX Vanguard Information Technology Index Fund Admiral Shares	0.38%	0.40%	0.60%	0.65%	0.91%	0.63%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both VITAX and TOWTX in my portfolio?

VITAX and TOWTX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VITAX or TOWTX?

VITAX has higher volatility (8.42%) compared to TOWTX (4.35%). In terms of maximum drawdown, VITAX dropped -54.81% vs TOWTX's -88.96%.

Which has better risk-adjusted returns?

VITAX currently has the higher Sharpe Ratio (1.31 vs 1.20), 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.