VIVIX vs. VMCPX
VIVIX (Vanguard Value Index Fund Institutional Shares) and VMCPX (Vanguard Mid-Cap Index Fund Institutional Plus Shares) are both mutual funds - VIVIX is a Large Cap Value Equities fund tracking the CRSP U.S. Large Cap Value Index, while VMCPX is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Both are passively managed. Over the past 10 years, VIVIX returned 12.57%/yr vs 11.50%/yr for VMCPX. Their correlation of 0.90 means they have usually moved in the same direction. VIVIX charges 0.03%/yr vs 0.02%/yr for VMCPX.
Performance
VIVIX vs. VMCPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIVIX achieves a 16.33% return, which is significantly higher than VMCPX's 12.34% return. Over the past 10 years, VIVIX has outperformed VMCPX with an annualized return of 12.57%, while VMCPX has yielded a comparatively lower 11.50% annualized return.
VIVIX
- 1D
- -0.28%
- 1M
- 0.30%
- 6M
- 10.31%
- YTD
- 16.33%
- 1Y
- 27.88%
- 3Y*
- 17.10%
- 5Y*
- 12.28%
- 10Y*
- 12.57%
- ALL TIME*
- 8.00%
VMCPX
- 1D
- -0.08%
- 1M
- 0.47%
- 6M
- 9.55%
- YTD
- 12.34%
- 1Y
- 16.48%
- 3Y*
- 14.31%
- 5Y*
- 7.78%
- 10Y*
- 11.50%
- ALL TIME*
- 11.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VIVIX vs. VMCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIVIX Vanguard Value Index Fund Institutional Shares | 16.33% | 15.30% | 15.99% | 9.23% | -2.05% | 26.50% | 2.30% | 25.83% | -5.44% | 17.14% |
VMCPX Vanguard Mid-Cap Index Fund Institutional Plus Shares | 12.34% | 11.70% | 14.68% | 16.55% | -18.68% | 24.54% | 18.20% | 31.06% | -9.23% | 19.28% |
Correlation
The correlation between VIVIX and VMCPX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2010 | 0.90 |
The correlation between VIVIX and VMCPX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIVIX vs. VMCPX — Risk / Return Rank
VIVIX
VMCPX
VIVIX vs. VMCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Institutional Shares (VIVIX) and Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX). 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.
| VIVIX | VMCPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.21 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 1.85 | +2.38 |
| Martin ratioReturn relative to average drawdown | 16.32 | 7.05 | +9.27 |
Loading charts...
Drawdowns
VIVIX vs. VMCPX - Drawdown Comparison
The maximum VIVIX drawdown since its inception was -59.30%, which is greater than VMCPX's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for VIVIX and VMCPX.
Loading charts...
Drawdown Indicators
| VIVIX | VMCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.30% | -39.30% | -20.00% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -8.13% | +1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -18.93% | +4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -27.54% | +10.42% |
Max Drawdown (10Y)Largest decline over 10 years | -36.80% | -39.30% | +2.50% |
Current DrawdownCurrent decline from peak | -1.35% | -0.52% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -9.21% | -5.17% | -4.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 2.13% | -0.48% |
Volatility
VIVIX vs. VMCPX - Volatility Comparison
Vanguard Value Index Fund Institutional Shares (VIVIX) has a higher volatility of 2.64% compared to Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) at 2.09%. This indicates that VIVIX's price experiences larger fluctuations and is considered to be riskier than VMCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIVIX | VMCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.09% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 7.77% | 9.49% | -1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 12.59% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.86% | 17.63% | -3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.69% | 18.84% | -2.15% |
VIVIX vs. VMCPX - Expense Ratio Comparison
VIVIX has a 0.03% expense ratio, which is higher than VMCPX's 0.02% 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
VIVIX vs. VMCPX - Dividend Comparison
VIVIX's dividend yield for the trailing twelve months is around 1.86%, more than VMCPX's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIVIX Vanguard Value Index Fund Institutional Shares | 1.86% | 2.04% | 2.31% | 2.46% | 2.52% | 2.15% | 2.55% | 2.50% | 2.73% | 2.30% | 2.46% | 2.61% |
VMCPX Vanguard Mid-Cap Index Fund Institutional Plus Shares | 1.33% | 1.53% | 1.50% | 1.52% | 1.61% | 1.13% | 1.45% | 1.49% | 1.84% | 1.37% | 1.47% | 1.50% |
Frequently Asked Questions
VIVIX and VMCPX 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.
VIVIX has higher volatility (2.64%) compared to VMCPX (2.09%). In terms of maximum drawdown, VIVIX dropped -59.30% vs VMCPX's -39.30%.
VIVIX currently has the higher Sharpe Ratio (2.61 vs 1.19), 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.
Find the right allocation for VIVIX and VMCPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer