VMCIX vs. VTSAX

Last updated Jun 4, 2026

VMCIX (Vanguard Mid-Cap Index Fund Institutional Shares) and VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares) are both mutual funds - VMCIX is a Mid Cap Blend Equities fund managed by Vanguard, while VTSAX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VMCIX returned 11.59%/yr vs 15.12%/yr for VTSAX. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.

Performance

VMCIX vs. VTSAX - 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 Stock Market Index Fund Admiral Shares (VTSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMCIX achieves a 10.56% return, which is significantly lower than VTSAX's 11.98% return. Over the past 10 years, VMCIX has underperformed VTSAX with an annualized return of 11.59%, while VTSAX has yielded a comparatively higher 15.12% annualized return.

VMCIX

• 1D: 0.90%
• 1M: 3.69%
• YTD: 10.56%
• 6M: 10.21%
• 1Y: 18.75%
• 3Y*: 16.83%
• 5Y*: 8.11%
• 10Y*: 11.59%

VTSAX

• 1D: 0.24%
• 1M: 5.76%
• YTD: 11.98%
• 6M: 11.87%
• 1Y: 29.09%
• 3Y*: 22.34%
• 5Y*: 13.04%
• 10Y*: 15.12%

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

VMCIX vs. VTSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	10.56%	11.67%	14.68%	16.54%	-18.70%	24.53%	18.20%	31.04%	-9.25%	19.30%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	11.98%	17.12%	23.23%	26.51%	-19.52%	25.72%	20.98%	30.79%	-5.18%	21.16%

Correlation

The correlation between VMCIX and VTSAX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 14, 2000	0.95

The correlation between VMCIX and VTSAX shifts across timeframes, from 0.82 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

VMCIX vs. VTSAX - Sectors Allocation Comparison

Sectors	VMCIX	VTSAX
Technology	18.6%	33.3%
Industrials	17.9%	9.5%
Financial Services	12.8%	11.9%
Consumer Cyclical	8.6%	9.8%
Energy	8.5%	3.8%
Utilities	8.3%	2.7%
Healthcare	7.6%	9.1%
Real Estate	5.4%	2.4%
Consumer Defensive	4.8%	4.7%
Basic Materials	4.2%	2.0%
Communication Services	3.1%	10.1%

Return for Risk

VMCIX vs. VTSAX — Risk / Return Rank

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

VMCIX

VMCIX Risk / Return Rank: 35
VMCIX Sharpe Ratio Rank: 32
VMCIX Sortino Ratio Rank: 31
VMCIX Omega Ratio Rank: 29
VMCIX Calmar Ratio Rank: 42
VMCIX Martin Ratio Rank: 44

VTSAX

VTSAX Risk / Return Rank: 71
VTSAX Sharpe Ratio Rank: 72
VTSAX Sortino Ratio Rank: 65
VTSAX Omega Ratio Rank: 63
VTSAX Calmar Ratio Rank: 74
VTSAX Martin Ratio Rank: 83

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.

VMCIX vs. VTSAX - 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 Stock Market Index Fund Admiral Shares (VTSAX). 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.

	VMCIX	VTSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.47	-0.85
Sortino ratio: Return per unit of downside risk	2.31	3.36	-1.05
Omega ratio: Gain probability vs. loss probability	1.28	1.44	-0.16
Calmar ratio: Return relative to maximum drawdown	2.45	3.37	-0.93
Martin ratio: Return relative to average drawdown	9.29	15.56	-6.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMCIX vs. VTSAX - Sharpe Ratio Comparison

The current VMCIX Sharpe Ratio is 1.62, which is lower than the VTSAX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of VMCIX and VTSAX, 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

	VMCIX	VTSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.47	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.76	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.82	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.47	+0.02

Drawdowns

VMCIX vs. VTSAX - Drawdown Comparison

The maximum VMCIX drawdown since its inception was -58.86%, which is greater than VTSAX's maximum drawdown of -55.33%. Use the drawdown chart below to compare losses from any high point for VMCIX and VTSAX.

Drawdown Indicators

	VMCIX	VTSAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.86%	-55.33%	-3.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-8.92%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-18.93%	-19.36%	+0.43%
Max Drawdown (5Y) Largest decline over 5 years	-27.54%	-25.36%	-2.18%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-34.97%	-4.33%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.97%	-9.01%	+1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.93%	+0.21%

Volatility

VMCIX vs. VTSAX - Volatility Comparison

Vanguard Mid-Cap Index Fund Institutional Shares (VMCIX) and Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) have volatilities of 2.97% and 2.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMCIX	VTSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.95%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	9.19%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	12.19%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	17.36%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	18.41%	+0.51%

VMCIX vs. VTSAX - Expense Ratio Comparison

Both VMCIX and VTSAX 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

VMCIX vs. VTSAX - Dividend Comparison

VMCIX's dividend yield for the trailing twelve months is around 1.35%, more than VTSAX's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VMCIX Vanguard Mid-Cap Index Fund Institutional Shares	1.35%	1.52%	1.49%	1.51%	1.60%	1.12%	1.45%	1.48%	1.83%	1.36%	1.46%	1.48%
VTSAX Vanguard Total Stock Market Index Fund Admiral Shares	1.00%	1.11%	1.26%	1.42%	1.65%	1.20%	1.41%	1.76%	2.03%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both VMCIX and VTSAX in my portfolio?

VMCIX and VTSAX have a correlation of 0.82, 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 VTSAX?

VMCIX has higher volatility (2.97%) compared to VTSAX (2.95%). In terms of maximum drawdown, VMCIX dropped -58.86% vs VTSAX's -55.33%.

Which has better risk-adjusted returns?

VTSAX currently has the higher Sharpe Ratio (2.47 vs 1.62), 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.