VMCIX vs. SPY
Compare and contrast key facts about Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) and SPDR S&P 500 ETF (SPY).
VMCIX is managed by Vanguard. It was launched on May 21, 1998. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMCIX or SPY.
Key characteristics
| VMCIX | SPY | |
|---|---|---|
| YTD Return | 13.48% | 20.89% |
| 1Y Return | 24.32% | 31.53% |
| 3Y Return (Ann) | 4.61% | 11.11% |
| 5Y Return (Ann) | 10.90% | 15.61% |
| 10Y Return (Ann) | 9.96% | 13.08% |
| Sharpe Ratio | 1.76 | 2.39 |
| Daily Std Dev | 13.50% | 12.70% |
| Max Drawdown | -58.86% | -55.19% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between VMCIX and SPY is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
VMCIX vs. SPY - Performance Comparison
In the year-to-date period, VMCIX achieves a 13.48% return, which is significantly lower than SPY's 20.89% return. Over the past 10 years, VMCIX has underperformed SPY with an annualized return of 9.96%, while SPY has yielded a comparatively higher 13.08% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VMCIX vs. SPY - Expense Ratio Comparison
VMCIX has a 0.04% expense ratio, which is lower than SPY's 0.09% 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%.
Risk-Adjusted Performance
VMCIX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
VMCIX vs. SPY - Dividend Comparison
VMCIX's dividend yield for the trailing twelve months is around 1.18%, more than SPY's 0.92% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares | 1.18% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.83% | 1.36% | 1.46% | 1.48% | 1.29% | 1.18% |
SPY SPDR S&P 500 ETF | 0.92% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
VMCIX vs. SPY - Drawdown Comparison
The maximum VMCIX drawdown since its inception was -58.86%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VMCIX and SPY. For additional features, visit the drawdowns tool.
Volatility
VMCIX vs. SPY - Volatility Comparison
The current volatility for Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) is 3.61%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.18%. This indicates that VMCIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.