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 | -0.63% | 11.70% | 14.68% | 16.55% | -18.68% | 24.54% | 18.20% | 31.06% | -9.23% | 19.28% |
QQQ Invesco QQQ ETF | -4.76% | 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 -0.63% return, which is significantly higher than QQQ's -4.76% return. Over the past 10 years, VMCPX has underperformed QQQ with an annualized return of 10.68%, while QQQ has yielded a comparatively higher 18.99% annualized return.
VMCPX
- 1D
- 2.23%
- 1M
- -5.78%
- YTD
- -0.63%
- 6M
- -1.34%
- 1Y
- 12.42%
- 3Y*
- 12.62%
- 5Y*
- 6.68%
- 10Y*
- 10.68%
QQQ
- 1D
- 1.24%
- 1M
- -3.79%
- YTD
- -4.76%
- 6M
- -2.89%
- 1Y
- 24.21%
- 3Y*
- 22.83%
- 5Y*
- 13.16%
- 10Y*
- 18.99%
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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 | 0.73 | 1.07 | -0.35 |
Sortino ratioReturn per unit of downside risk | 1.12 | 1.66 | -0.54 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 2.00 | -0.94 |
Martin ratioReturn relative to average drawdown | 4.87 | 7.32 | -2.45 |
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 | 0.73 | 1.07 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.59 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.86 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.38 | +0.22 |
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 1.52%, more than QQQ's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMCPX Vanguard Mid-Cap Index Fund Institutional Plus Shares | 1.52% | 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 | 0.48% | 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 | -6.08% | -7.86% | +1.78% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -32.99% | +27.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 3.44% | -0.67% |
Volatility
VMCPX vs. QQQ - Volatility Comparison
The current volatility for Vanguard Mid-Cap Index Fund Institutional Plus Shares (VMCPX) is 4.96%, while Invesco QQQ ETF (QQQ) has a volatility of 6.61%. 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 | 4.96% | 6.61% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 12.82% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 22.70% | -5.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 22.38% | -4.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 22.25% | -3.34% |