VMCPX vs. QQQ
Compare and contrast key facts about Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) and Invesco QQQ ETF (QQQ).
VMCPX is managed by Vanguard. It was launched on Dec 15, 2010. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.
Performance
VMCPX vs. QQQ - Performance Comparison
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VMCPX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMCPX Vanguard Mid-Cap Index Fund Institutional Plus Shares | -2.79% | 11.70% | 14.68% | 16.55% | -18.68% | 24.54% | 18.20% | 31.06% | -9.23% | 19.28% |
QQQ Invesco QQQ ETF | -5.93% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Returns By Period
In the year-to-date period, VMCPX achieves a -2.79% return, which is significantly higher than QQQ's -5.93% return. Over the past 10 years, VMCPX has underperformed QQQ with an annualized return of 10.44%, while QQQ has yielded a comparatively higher 18.85% annualized return.
VMCPX
- 1D
- -0.66%
- 1M
- -7.87%
- YTD
- -2.79%
- 6M
- -3.58%
- 1Y
- 10.32%
- 3Y*
- 11.80%
- 5Y*
- 6.52%
- 10Y*
- 10.44%
QQQ
- 1D
- 3.39%
- 1M
- -4.84%
- YTD
- -5.93%
- 6M
- -3.62%
- 1Y
- 23.68%
- 3Y*
- 22.32%
- 5Y*
- 12.88%
- 10Y*
- 18.85%
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VMCPX vs. QQQ - Expense Ratio Comparison
VMCPX has a 0.03% expense ratio, which is lower than QQQ's 0.18% 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%.
Return for Risk
VMCPX vs. QQQ — Risk / Return Rank
VMCPX
QQQ
VMCPX vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) and Invesco QQQ ETF (QQQ). 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.
| VMCPX | QQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 1.05 | -0.42 |
Sortino ratioReturn per unit of downside risk | 0.99 | 1.63 | -0.64 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.23 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.88 | -1.15 |
Martin ratioReturn relative to average drawdown | 3.40 | 6.95 | -3.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMCPX | QQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.05 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.58 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.85 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.37 | +0.21 |
Correlation
The correlation between VMCPX and QQQ is 0.80, 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.
Dividends
VMCPX vs. QQQ - Dividend Comparison
VMCPX's dividend yield for the trailing twelve months is around 1.55%, more than QQQ's 0.49% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMCPX Vanguard Mid-Cap Index Fund Institutional Plus Shares | 1.55% | 1.53% | 1.50% | 1.52% | 1.61% | 1.13% | 1.45% | 1.49% | 1.84% | 1.37% | 1.47% | 1.50% |
QQQ Invesco QQQ ETF | 0.49% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Drawdowns
VMCPX vs. QQQ - Drawdown Comparison
The maximum VMCPX drawdown since its inception was -39.30%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for VMCPX and QQQ.
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Drawdown Indicators
| VMCPX | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.30% | -82.97% | +43.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.77% | -12.62% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -27.54% | -35.12% | +7.58% |
Max Drawdown (10Y)Largest decline over 10 years | -39.30% | -35.12% | -4.18% |
Current DrawdownCurrent decline from peak | -8.13% | -8.98% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -32.99% | +27.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 3.41% | -0.67% |
Volatility
VMCPX vs. QQQ - Volatility Comparison
The current volatility for Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) is 4.23%, while Invesco QQQ ETF (QQQ) has a volatility of 6.51%. This indicates that VMCPX experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMCPX | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 6.51% | -2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.43% | 12.77% | -3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.58% | 22.67% | -5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.63% | 22.39% | -4.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.90% | 22.25% | -3.35% |