VLISX vs. VV
VLISX (Vanguard Large-Cap Index Fund Institutional Shares) and VV (Vanguard Large-Cap ETF) are both Large Cap Blend Equities funds from Vanguard. Over the past 10 years, VLISX returned 15.13%/yr vs 15.17%/yr for VV. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.04% expense ratio.
Performance
VLISX vs. VV - Performance Comparison
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Returns By Period
In the year-to-date period, VLISX achieves a 9.79% return, which is significantly lower than VV's 11.47% return. Both investments have delivered pretty close results over the past 10 years, with VLISX having a 15.13% annualized return and VV not far ahead at 15.17%.
VLISX
- 1D
- 0.70%
- 1M
- 0.06%
- 6M
- 7.97%
- YTD
- 9.79%
- 1Y
- 20.98%
- 3Y*
- 19.53%
- 5Y*
- 12.38%
- 10Y*
- 15.13%
- ALL TIME*
- 11.00%
VV
- 1D
- 1.54%
- 1M
- 1.73%
- 6M
- 9.64%
- YTD
- 11.47%
- 1Y
- 22.84%
- 3Y*
- 21.03%
- 5Y*
- 12.67%
- 10Y*
- 15.17%
- ALL TIME*
- 11.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $82.71M | $75.65M | $91.95M |
VLISX vs. VV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 9.79% | 18.11% | 25.12% | 27.26% | -19.68% | 27.04% | 21.04% | 31.38% | -4.47% | 22.04% |
VV Vanguard Large-Cap ETF | 11.47% | 18.11% | 25.25% | 27.18% | -19.91% | 27.41% | 21.04% | 31.25% | -4.46% | 22.00% |
Correlation
The correlation between VLISX and VV is 0.99 - 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. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.99 |
The correlation between VLISX and VV has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
VLISX vs. VV — Risk / Return Rank
VLISX
VV
VLISX vs. VV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap Index Fund Institutional Shares (VLISX) and Vanguard Large-Cap ETF (VV). 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.
| VLISX | VV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.49 | -0.42 |
| Martin ratioReturn relative to average drawdown | 8.77 | 10.49 | -1.72 |
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Drawdowns
VLISX vs. VV - Drawdown Comparison
The maximum VLISX drawdown since its inception was -54.48%, roughly equal to the maximum VV drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for VLISX and VV.
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Drawdown Indicators
| VLISX | VV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.48% | -54.81% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.19% | -9.21% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -18.97% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -25.65% | -25.66% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -33.97% | -34.28% | +0.31% |
Current DrawdownCurrent decline from peak | -1.53% | -0.02% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -6.70% | -6.80% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.18% | -0.01% |
Volatility
VLISX vs. VV - Volatility Comparison
The current volatility for Vanguard Large-Cap Index Fund Institutional Shares (VLISX) is 3.55%, while Vanguard Large-Cap ETF (VV) has a volatility of 3.94%. This indicates that VLISX experiences smaller price fluctuations and is considered to be less risky than VV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLISX | VV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 3.94% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 10.27% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.98% | 13.00% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.28% | 17.37% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.21% | 18.22% | -0.01% |
VLISX vs. VV - Expense Ratio Comparison
Both VLISX and VV have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VLISX vs. VV - Dividend Comparison
VLISX's dividend yield for the trailing twelve months is around 1.02%, which matches VV's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VLISX Vanguard Large-Cap Index Fund Institutional Shares | 1.02% | 1.08% | 1.24% | 1.41% | 1.67% | 1.19% | 1.46% | 1.81% | 2.09% | 1.76% | 1.99% | 1.97% |
VV Vanguard Large-Cap ETF | 1.01% | 1.08% | 1.24% | 1.41% | 1.66% | 1.19% | 1.46% | 1.81% | 2.09% | 1.75% | 1.98% | 1.96% |
Frequently Asked Questions
With a correlation of 0.99, VLISX and VV 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.
VV has higher volatility (3.94%) compared to VLISX (3.55%). In terms of maximum drawdown, VLISX dropped -54.48% vs VV's -54.81%.
VV currently has the higher Sharpe Ratio (1.77 vs 1.47), 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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