VIVIX vs. VGRIX

Last updated Jun 3, 2026

VIVIX (Vanguard Value Index Fund Institutional Shares) and VGRIX (JPMorgan U.S. Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, VIVIX returned 12.38%/yr vs 11.96%/yr for VGRIX. With a 0.98 correlation, they move nearly in lockstep. VIVIX charges 0.04%/yr vs 0.94%/yr for VGRIX.

Performance

VIVIX vs. VGRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value Index Fund Institutional Shares (VIVIX) and JPMorgan U.S. Value Fund (VGRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIVIX achieves a 11.28% return, which is significantly higher than VGRIX's 8.56% return. Both investments have delivered pretty close results over the past 10 years, with VIVIX having a 12.38% annualized return and VGRIX not far behind at 11.96%.

VIVIX

• 1D: -0.21%
• 1M: 2.65%
• YTD: 11.28%
• 6M: 13.13%
• 1Y: 25.77%
• 3Y*: 17.91%
• 5Y*: 11.17%
• 10Y*: 12.38%

VGRIX

• 1D: -0.32%
• 1M: 0.74%
• YTD: 8.56%
• 6M: 10.55%
• 1Y: 22.14%
• 3Y*: 15.93%
• 5Y*: 9.97%
• 10Y*: 11.96%

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

VIVIX vs. VGRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIVIX Vanguard Value Index Fund Institutional Shares	11.28%	15.30%	15.99%	9.23%	-2.05%	26.50%	2.30%	25.83%	-5.44%	17.14%
VGRIX JPMorgan U.S. Value Fund	8.56%	13.64%	16.17%	9.18%	-2.56%	26.83%	4.27%	27.84%	-7.71%	17.13%

Correlation

The correlation between VIVIX and VGRIX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 6, 1998	0.98

The correlation between VIVIX and VGRIX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

VIVIX vs. VGRIX — Risk / Return Rank

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

VIVIX

VIVIX Risk / Return Rank: 79
VIVIX Sharpe Ratio Rank: 79
VIVIX Sortino Ratio Rank: 77
VIVIX Omega Ratio Rank: 69
VIVIX Calmar Ratio Rank: 86
VIVIX Martin Ratio Rank: 82

VGRIX

VGRIX Risk / Return Rank: 55
VGRIX Sharpe Ratio Rank: 52
VGRIX Sortino Ratio Rank: 53
VGRIX Omega Ratio Rank: 49
VGRIX Calmar Ratio Rank: 61
VGRIX Martin Ratio Rank: 58

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.

VIVIX vs. VGRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Institutional Shares (VIVIX) and JPMorgan U.S. Value Fund (VGRIX). 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.

	VIVIX	VGRIX	Difference
Sharpe ratio Return per unit of total volatility	2.59	2.14	+0.46
Sortino ratio Return per unit of downside risk	3.70	3.07	+0.63
Omega ratio Gain probability vs. loss probability	1.46	1.38	+0.08
Calmar ratio Return relative to maximum drawdown	4.11	3.01	+1.10
Martin ratio Return relative to average drawdown	15.53	11.78	+3.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIVIX vs. VGRIX - Sharpe Ratio Comparison

The current VIVIX Sharpe Ratio is 2.59, which is comparable to the VGRIX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of VIVIX and VGRIX, 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

	VIVIX	VGRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.14	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.70	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.69	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.65	-0.24

Drawdowns

VIVIX vs. VGRIX - Drawdown Comparison

The maximum VIVIX drawdown since its inception was -59.30%, roughly equal to the maximum VGRIX drawdown of -58.30%. Use the drawdown chart below to compare losses from any high point for VIVIX and VGRIX.

Drawdown Indicators

	VIVIX	VGRIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.30%	-58.30%	-1.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-7.48%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.40%	-14.47%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-17.12%	-15.36%	-1.76%
Max Drawdown (10Y) Largest decline over 10 years	-36.80%	-38.59%	+1.79%
Current Drawdown Current decline from peak	-0.30%	-0.49%	+0.19%
Average Drawdown Average peak-to-trough decline	-9.26%	-7.83%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.91%	-0.22%

Volatility

VIVIX vs. VGRIX - Volatility Comparison

Vanguard Value Index Fund Institutional Shares (VIVIX) has a higher volatility of 2.65% compared to JPMorgan U.S. Value Fund (VGRIX) at 2.43%. This indicates that VIVIX's price experiences larger fluctuations and is considered to be riskier than VGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIVIX	VGRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	2.43%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	7.99%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.06%	10.50%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	14.40%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.74%	17.33%	-0.59%

VIVIX vs. VGRIX - Expense Ratio Comparison

VIVIX has a 0.04% expense ratio, which is lower than VGRIX's 0.94% expense ratio.

Dividends

VIVIX vs. VGRIX - Dividend Comparison

VIVIX's dividend yield for the trailing twelve months is around 1.88%, less than VGRIX's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGRIX JPMorgan U.S. Value Fund	4.79%	5.20%	4.20%	1.39%	1.49%	2.74%	2.46%	3.43%	6.70%	5.30%	6.18%	7.23%
VIVIX Vanguard Value Index Fund Institutional Shares	1.88%	2.04%	2.31%	2.46%	2.52%	2.15%	2.55%	2.50%	2.73%	2.30%	2.46%	2.61%

Frequently Asked Questions

Can I hold both VIVIX and VGRIX in my portfolio?

With a correlation of 0.95, VIVIX and VGRIX 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, VIVIX or VGRIX?

VIVIX has higher volatility (2.65%) compared to VGRIX (2.43%). In terms of maximum drawdown, VIVIX dropped -59.30% vs VGRIX's -58.30%.

Which has better risk-adjusted returns?

VIVIX currently has the higher Sharpe Ratio (2.59 vs 2.14), 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.