VMCIX vs. VTIAX

Last updated Aug 4, 2026

VMCIX (Vanguard Mid-Cap Index Fund Institutional Shares) and VTIAX (Vanguard Total International Stock Index Fund Admiral Shares) are both mutual funds - VMCIX is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index, while VTIAX is a Foreign Large Cap Equities fund tracking the FTSE Global All Cap ex US Index. Both are passively managed. Over the past 10 years, VMCIX returned 11.49%/yr vs 9.43%/yr for VTIAX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VMCIX charges 0.03%/yr vs 0.09%/yr for VTIAX.

Performance

VMCIX vs. VTIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VMCIX having a 12.34% return and VTIAX slightly higher at 12.86%. Over the past 10 years, VMCIX has outperformed VTIAX with an annualized return of 11.49%, while VTIAX has yielded a comparatively lower 9.43% annualized return.

VMCIX

• 1D: -0.08%
• 1M: 0.48%
• 6M: 9.55%
• YTD: 12.34%
• 1Y: 16.47%
• 3Y*: 14.30%
• 5Y*: 7.76%
• 10Y*: 11.49%
• ALL TIME*: 10.22%

VTIAX

• 1D: 0.07%
• 1M: 0.18%
• 6M: 6.45%
• YTD: 12.86%
• 1Y: 27.78%
• 3Y*: 17.20%
• 5Y*: 8.82%
• 10Y*: 9.43%
• ALL TIME*: 6.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	$0.00	$0.00	$0.00
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	$0.00	$0.00	$0.00

VMCIX vs. VTIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	12.34%	11.67%	14.68%	16.54%	-18.70%	24.53%	18.20%	31.04%	-9.25%	19.30%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	12.86%	32.18%	5.34%	15.28%	-16.02%	8.59%	11.27%	21.52%	-14.46%	27.54%

Correlation

The correlation between VMCIX and VTIAX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Nov 29, 2010	0.79

The correlation between VMCIX and VTIAX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

VMCIX vs. VTIAX - Sectors Allocation Comparison

Sectors	VMCIX	VTIAX
Industrials	19.9%	13.8%
Technology	18.2%	25.6%
Financial Services	13.1%	24.2%
Consumer Cyclical	9.0%	6.4%
Utilities	8.4%	2.6%
Healthcare	7.8%	6.9%
Energy	7.4%	4.4%
Real Estate	5.1%	0.9%
Consumer Defensive	4.6%	4.6%
Basic Materials	3.9%	5.9%
Communication Services	2.7%	3.9%

Return for Risk

VMCIX vs. VTIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VMCIX

VMCIX Risk / Return Rank: 39
VMCIX Sharpe Ratio Rank: 35
VMCIX Sortino Ratio Rank: 35
VMCIX Omega Ratio Rank: 33
VMCIX Calmar Ratio Rank: 43
VMCIX Martin Ratio Rank: 47

VTIAX

VTIAX Risk / Return Rank: 70
VTIAX Sharpe Ratio Rank: 71
VTIAX Sortino Ratio Rank: 66
VTIAX Omega Ratio Rank: 70
VTIAX Calmar Ratio Rank: 72
VTIAX Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VMCIX vs. VTIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) and Vanguard Total International Stock Index Fund Admiral Shares (VTIAX). 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.

	VMCIX	VTIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.72	-0.53
Sortino ratio: Return per unit of downside risk	1.74	2.37	-0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.85	2.43	-0.59
Martin ratio: Return relative to average drawdown	7.04	9.02	-1.98

VMCIX vs. VTIAX - Sharpe Ratio Comparison

The current VMCIX Sharpe Ratio is 1.19, which is lower than the VTIAX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VMCIX and VTIAX, 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

VMCIX vs. VTIAX - Drawdown Comparison

The maximum VMCIX drawdown since its inception was -58.86%, which is greater than VTIAX's maximum drawdown of -35.83%. Use the drawdown chart below to compare losses from any high point for VMCIX and VTIAX.

Drawdown Indicators

	VMCIX	VTIAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.86%	-35.83%	-23.03%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-11.28%	+3.15%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-13.13%	-5.80%
Max Drawdown (5Y) Largest decline over 5 years	-27.54%	-29.52%	+1.98%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-35.83%	-3.47%
Current Drawdown Current decline from peak	-0.52%	-2.55%	+2.03%
Average Drawdown Average peak-to-trough decline	-7.93%	-8.02%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	3.04%	-0.91%

Volatility

VMCIX vs. VTIAX - Volatility Comparison

The current volatility for Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) is 2.08%, while Vanguard Total International Stock Index Fund Admiral Shares (VTIAX) has a volatility of 5.26%. This indicates that VMCIX experiences smaller price fluctuations and is considered to be less risky than VTIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMCIX	VTIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	5.26%	-3.18%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	14.12%	-4.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	15.96%	-3.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	15.36%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.84%	15.82%	+3.02%

VMCIX vs. VTIAX - Expense Ratio Comparison

VMCIX has a 0.03% expense ratio, which is lower than VTIAX'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%.

Dividends

VMCIX vs. VTIAX - Dividend Comparison

VMCIX's dividend yield for the trailing twelve months is around 1.32%, less than VTIAX's 2.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	1.32%	1.52%	1.49%	1.51%	1.60%	1.12%	1.45%	1.48%	1.83%	1.36%	1.46%	1.48%
VTIAX Vanguard Total International Stock Index Fund Admiral Shares	2.55%	3.15%	3.33%	3.22%	3.04%	3.05%	2.10%	3.04%	3.16%	2.73%	2.93%	2.84%

Frequently Asked Questions

Can I hold both VMCIX and VTIAX in my portfolio?

VMCIX and VTIAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMCIX or VTIAX?

VTIAX has higher volatility (5.26%) compared to VMCIX (2.08%). In terms of maximum drawdown, VMCIX dropped -58.86% vs VTIAX's -35.83%.

Which has better risk-adjusted returns?

VTIAX currently has the higher Sharpe Ratio (1.72 vs 1.19), 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.