VLMIX vs. VIGIX

Last updated Jun 24, 2026

VLMIX (Vanguard Long-Term Investment-Grade Fund Investor Shares) and VIGIX (Vanguard Growth Index Fund Institutional Shares) are both mutual funds - VLMIX is a Long-Term Bond fund managed by Vanguard, while VIGIX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 5 years, VLMIX returned 6.09%/yr vs 13.39%/yr for VIGIX. A 0.77 correlation means they provide meaningful diversification when combined. VLMIX charges 0.20%/yr vs 0.04%/yr for VIGIX.

Performance

VLMIX vs. VIGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLMIX achieves a -0.73% return, which is significantly lower than VIGIX's 5.75% return.

VLMIX

• 1D: -0.50%
• 1M: 0.77%
• YTD: -0.73%
• 6M: -2.27%
• 1Y: -1.96%
• 3Y*: 6.92%
• 5Y*: 6.09%
• 10Y*: —

VIGIX

• 1D: -1.35%
• 1M: -1.90%
• YTD: 5.75%
• 6M: 4.44%
• 1Y: 22.60%
• 3Y*: 23.62%
• 5Y*: 13.39%
• 10Y*: 18.28%

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

VLMIX vs. VIGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	-0.73%	1.01%	7.83%	22.39%	-9.40%	20.12%	20.25%	35.69%	4.91%	7.31%
VIGIX Vanguard Growth Index Fund Institutional Shares	5.75%	19.44%	32.68%	46.77%	-33.13%	27.27%	40.19%	37.26%	-3.34%	8.88%

Correlation

The correlation between VLMIX and VIGIX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017	0.77

Over the past year, the correlation between VLMIX and VIGIX has dropped to 0.50 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

VLMIX vs. VIGIX — Risk / Return Rank

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

VLMIX

VLMIX Risk / Return Rank: 3
VLMIX Sharpe Ratio Rank: 3
VLMIX Sortino Ratio Rank: 3
VLMIX Omega Ratio Rank: 3
VLMIX Calmar Ratio Rank: 3
VLMIX Martin Ratio Rank: 3

VIGIX

VIGIX Risk / Return Rank: 24
VIGIX Sharpe Ratio Rank: 28
VIGIX Sortino Ratio Rank: 26
VIGIX Omega Ratio Rank: 27
VIGIX Calmar Ratio Rank: 18
VIGIX Martin Ratio Rank: 22

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.

VLMIX vs. VIGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). 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.

	VLMIX	VIGIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	1.43	-1.48
Sortino ratio: Return per unit of downside risk	0.03	1.97	-1.94
Omega ratio: Gain probability vs. loss probability	1.00	1.25	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.05	1.46	-1.51
Martin ratio: Return relative to average drawdown	-0.15	5.01	-5.16

VLMIX vs. VIGIX - Sharpe Ratio Comparison

The current VLMIX Sharpe Ratio is -0.05, which is lower than the VIGIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of VLMIX and VIGIX, 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

VLMIX vs. VIGIX - Drawdown Comparison

The maximum VLMIX drawdown since its inception was -35.47%, smaller than the maximum VIGIX drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for VLMIX and VIGIX.

Drawdown Indicators

	VLMIX	VIGIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.47%	-56.95%	+21.48%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-16.51%	+4.74%
Max Drawdown (3Y) Largest decline over 3 years	-17.59%	-23.03%	+5.44%
Max Drawdown (5Y) Largest decline over 5 years	-21.85%	-35.62%	+13.77%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.62%	—
Current Drawdown Current decline from peak	-7.92%	-4.85%	-3.07%
Average Drawdown Average peak-to-trough decline	-4.82%	-16.25%	+11.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	4.80%	-0.55%

Volatility

VLMIX vs. VIGIX - Volatility Comparison

The current volatility for Vanguard Long-Term Investment-Grade Fund Investor Shares (VLMIX) is 3.59%, while Vanguard Growth Index Fund Institutional Shares (VIGIX) has a volatility of 6.58%. This indicates that VLMIX experiences smaller price fluctuations and is considered to be less risky than VIGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLMIX	VIGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	6.58%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	13.37%	-3.15%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	16.89%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	22.49%	-5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.67%	21.67%	-3.00%

VLMIX vs. VIGIX - Expense Ratio Comparison

VLMIX has a 0.20% expense ratio, which is higher than VIGIX's 0.04% 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

VLMIX vs. VIGIX - Dividend Comparison

VLMIX's dividend yield for the trailing twelve months is around 2.15%, more than VIGIX's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIGIX Vanguard Growth Index Fund Institutional Shares	0.39%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.15%	1.40%	1.31%
VLMIX Vanguard Long-Term Investment-Grade Fund Investor Shares	2.15%	2.14%	1.21%	0.22%	7.46%	8.18%	8.10%	1.63%	5.11%	1.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLMIX and VIGIX in my portfolio?

VLMIX and VIGIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLMIX or VIGIX?

VIGIX has higher volatility (6.58%) compared to VLMIX (3.59%). In terms of maximum drawdown, VLMIX dropped -35.47% vs VIGIX's -56.95%.

Which has better risk-adjusted returns?

VIGIX currently has the higher Sharpe Ratio (1.43 vs -0.05), 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.