VIVIX vs. VVIAX
VIVIX (Vanguard Value Index Fund Institutional Shares) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both Large Cap Value Equities funds from Vanguard - VIVIX tracks the CRSP U.S. Large Cap Value Index while VVIAX tracks the CRSP US Large Cap Value Index. Both are passively managed. Over the past 10 years, VIVIX returned 12.54%/yr vs 12.53%/yr for VVIAX. Their 1.00 correlation means they have historically moved very closely together. VIVIX charges 0.03%/yr vs 0.05%/yr for VVIAX.
Performance
VIVIX vs. VVIAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VIVIX having a 16.66% return and VVIAX slightly lower at 16.65%. Both investments have delivered pretty close results over the past 10 years, with VIVIX having a 12.54% annualized return and VVIAX not far behind at 12.53%.
VIVIX
- 1D
- 0.33%
- 1M
- 0.58%
- 6M
- 11.55%
- YTD
- 16.66%
- 1Y
- 28.24%
- 3Y*
- 17.13%
- 5Y*
- 12.35%
- 10Y*
- 12.54%
- ALL TIME*
- 8.01%
VVIAX
- 1D
- 0.31%
- 1M
- 0.58%
- 6M
- 11.53%
- YTD
- 16.65%
- 1Y
- 28.22%
- 3Y*
- 17.11%
- 5Y*
- 12.33%
- 10Y*
- 12.53%
- ALL TIME*
- 8.15%
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. VVIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIVIX Vanguard Value Index Fund Institutional Shares | 16.66% | 15.30% | 15.99% | 9.23% | -2.05% | 26.50% | 2.30% | 25.83% | -5.44% | 17.14% |
VVIAX Vanguard Value Index Fund Admiral Shares | 16.65% | 15.27% | 16.00% | 9.22% | -2.07% | 26.51% | 2.29% | 25.81% | -5.45% | 17.13% |
Correlation
The correlation between VIVIX and VVIAX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2000 | 1.00 |
The correlation between VIVIX and VVIAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VIVIX vs. VVIAX — Risk / Return Rank
VIVIX
VVIAX
VIVIX vs. VVIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Institutional Shares (VIVIX) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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 | VVIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.45 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.11 | 4.10 | +0.01 |
| Martin ratioReturn relative to average drawdown | 15.86 | 15.85 | +0.01 |
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Drawdowns
VIVIX vs. VVIAX - Drawdown Comparison
The maximum VIVIX drawdown since its inception was -59.30%, roughly equal to the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for VIVIX and VVIAX.
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Drawdown Indicators
| VIVIX | VVIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.30% | -59.32% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -6.36% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.40% | -14.39% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -17.14% | +0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -36.80% | -36.80% | 0.00% |
Current DrawdownCurrent decline from peak | -1.07% | -1.07% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.21% | -9.56% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 1.65% | 0.00% |
Volatility
VIVIX vs. VVIAX - Volatility Comparison
Vanguard Value Index Fund Institutional Shares (VIVIX) and Vanguard Value Index Fund Admiral Shares (VVIAX) have volatilities of 2.65% and 2.63%, 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.
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Volatility by Period
| VIVIX | VVIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 2.63% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.78% | 7.79% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.36% | 10.37% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.87% | 13.86% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.69% | 16.69% | 0.00% |
VIVIX vs. VVIAX - Expense Ratio Comparison
VIVIX has a 0.03% expense ratio, which is lower than VVIAX's 0.05% expense ratio. Despite the difference, 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. VVIAX - Dividend Comparison
VIVIX's dividend yield for the trailing twelve months is around 1.85%, which matches VVIAX's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIVIX Vanguard Value Index Fund Institutional Shares | 1.85% | 2.04% | 2.31% | 2.46% | 2.52% | 2.15% | 2.55% | 2.50% | 2.73% | 2.30% | 2.46% | 2.61% |
VVIAX Vanguard Value Index Fund Admiral Shares | 1.84% | 2.04% | 2.30% | 2.45% | 2.51% | 2.14% | 2.55% | 2.49% | 2.72% | 2.29% | 2.45% | 2.60% |
Frequently Asked Questions
With a correlation of 1.00, VIVIX and VVIAX 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.
VIVIX has higher volatility (2.65%) compared to VVIAX (2.63%). In terms of maximum drawdown, VIVIX dropped -59.30% vs VVIAX's -59.32%.
VIVIX currently has the higher Sharpe Ratio (2.53 vs 2.52), 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.
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