VMAX vs. VIMAX

Last updated Jun 4, 2026

VMAX (Hartford US Value ETF) and VIMAX (Vanguard Mid-Cap Index Fund Admiral Shares) are both funds - VMAX is a Large Cap Value Equities fund actively managed by Hartford, while VIMAX is a Mid Cap Blend Equities fund managed by Vanguard. Over the past year, VMAX returned 27.28% vs 18.73% for VIMAX. Their correlation of 0.89 suggests significant overlap in exposure. VMAX charges 0.29%/yr vs 0.05%/yr for VIMAX.

Performance

VMAX vs. VIMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Value ETF (VMAX) and Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMAX achieves a 12.22% return, which is significantly higher than VIMAX's 10.54% return.

VMAX

• 1D: -0.50%
• 1M: 2.11%
• YTD: 12.22%
• 6M: 13.50%
• 1Y: 27.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VIMAX

• 1D: 0.90%
• 1M: 3.68%
• YTD: 10.54%
• 6M: 10.20%
• 1Y: 18.73%
• 3Y*: 16.82%
• 5Y*: 8.10%
• 10Y*: 11.58%

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

VMAX vs. VIMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VMAX Hartford US Value ETF	12.22%	15.65%	15.89%	6.98%
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	10.54%	11.67%	14.66%	7.07%

Correlation

The correlation between VMAX and VIMAX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.89

The correlation between VMAX and VIMAX has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

VMAX vs. VIMAX - Sectors Allocation Comparison

Sectors	VMAX	VIMAX
Financial Services	33.3%	12.8%
Energy	12.3%	8.5%
Healthcare	11.0%	7.6%
Technology	10.8%	18.6%
Communication Services	6.7%	3.1%
Utilities	5.7%	8.3%
Industrials	5.6%	17.9%
Real Estate	4.3%	5.4%
Consumer Defensive	3.9%	4.8%
Consumer Cyclical	3.7%	8.6%
Basic Materials	2.8%	4.2%

Return for Risk

VMAX vs. VIMAX — Risk / Return Rank

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

VMAX

VMAX Risk / Return Rank: 75
VMAX Sharpe Ratio Rank: 67
VMAX Sortino Ratio Rank: 67
VMAX Omega Ratio Rank: 65
VMAX Calmar Ratio Rank: 90
VMAX Martin Ratio Rank: 88

VIMAX

VIMAX Risk / Return Rank: 35
VIMAX Sharpe Ratio Rank: 32
VIMAX Sortino Ratio Rank: 31
VIMAX Omega Ratio Rank: 29
VIMAX Calmar Ratio Rank: 41
VIMAX Martin Ratio Rank: 44

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.

VMAX vs. VIMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Value ETF (VMAX) and Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX). 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.

	VMAX	VIMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	1.61	+0.63
Sortino ratio: Return per unit of downside risk	3.07	2.31	+0.77
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	5.56	2.44	+3.12
Martin ratio: Return relative to average drawdown	19.55	9.28	+10.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMAX vs. VIMAX - Sharpe Ratio Comparison

The current VMAX Sharpe Ratio is 2.25, which is higher than the VIMAX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of VMAX and VIMAX, 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

	VMAX	VIMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	1.61	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.50	+0.87

Drawdowns

VMAX vs. VIMAX - Drawdown Comparison

The maximum VMAX drawdown since its inception was -19.05%, smaller than the maximum VIMAX drawdown of -58.88%. Use the drawdown chart below to compare losses from any high point for VMAX and VIMAX.

Drawdown Indicators

	VMAX	VIMAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-58.88%	+39.83%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-8.13%	+3.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.30%	—
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-2.57%	-8.12%	+5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	2.14%	-0.74%

Volatility

VMAX vs. VIMAX - Volatility Comparison

The current volatility for Hartford US Value ETF (VMAX) is 2.55%, while Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) has a volatility of 2.97%. This indicates that VMAX experiences smaller price fluctuations and is considered to be less risky than VIMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMAX	VIMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.97%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	9.28%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	12.30%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	17.63%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	18.92%	-3.47%

VMAX vs. VIMAX - Expense Ratio Comparison

VMAX has a 0.29% expense ratio, which is higher than VIMAX's 0.05% expense ratio.

Dividends

VMAX vs. VIMAX - Dividend Comparison

VMAX's dividend yield for the trailing twelve months is around 1.91%, more than VIMAX's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	1.34%	1.51%	1.48%	1.50%	1.59%	1.11%	1.44%	1.47%	1.82%	1.35%	1.45%	1.47%
VMAX Hartford US Value ETF	1.91%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VMAX and VIMAX in my portfolio?

VMAX and VIMAX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMAX or VIMAX?

VIMAX has higher volatility (2.97%) compared to VMAX (2.55%). In terms of maximum drawdown, VMAX dropped -19.05% vs VIMAX's -58.88%.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.25 vs 1.61), 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.