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VMFXX vs. SOXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VMFXX vs. SOXX

Last updated Jun 16, 2026

VMFXX (Vanguard Federal Money Market Fund) and SOXX (iShares Semiconductor ETF) are both funds - VMFXX is a Money Market fund managed by Vanguard, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Over the past 5 years, VMFXX returned 2.39%/yr vs 35.21%/yr for SOXX. At a correlation of -0.01, they often move in opposite directions. VMFXX charges 0.11%/yr vs 0.34%/yr for SOXX.

Performance

VMFXX vs. SOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Federal Money Market Fund (VMFXX) and iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VMFXX achieves a 1.50% return, which is significantly lower than SOXX's 108.91% return.

VMFXX

1D
0.00%
1M
0.30%
YTD
1.50%
6M
1.82%
1Y
3.95%
3Y*
3.35%
5Y*
2.39%
10Y*
—

SOXX

1D
5.45%
1M
23.64%
YTD
108.91%
6M
111.42%
1Y
186.37%
3Y*
55.91%
5Y*
35.21%
10Y*
36.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VMFXX vs. SOXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
VMFXX
Vanguard Federal Money Market Fund		1.50%4.24%1.64%4.64%0.00%0.00%
SOXX
iShares Semiconductor ETF		108.91%40.74%12.92%67.12%-35.09%28.46%

Correlation

The correlation between VMFXX and SOXX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

-0.01

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

-0.01

Compare stocks, funds, or ETFs

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Vanguard Federal Money Market Fund

iShares Semiconductor ETF

Often compared with VMFXX:
VMFXX vs. VUSXXVMFXX vs. SPAXXVMFXX vs. SWVXXVMFXX vs. SGOVVMFXX vs. VMRXXVMFXX vs. BNDVMFXX vs. SNSXX
Often compared with SOXX:
SOXX vs. SMHSOXX vs. QQQSOXX vs. SOXLSOXX vs. SOXQSOXX vs. FSELXSOXX vs. VGTSOXX vs. VOO

Return for Risk

VMFXX vs. SOXX — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SOXX
SOXX Risk / Return Rank: 9797
Overall Rank
SOXX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
SOXX Sortino Ratio Rank: 9595
Sortino Ratio Rank
SOXX Omega Ratio Rank: 9595
Omega Ratio Rank
SOXX Calmar Ratio Rank: 9898
Calmar Ratio Rank
SOXX Martin Ratio Rank: 9797
Martin Ratio Rank
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.

VMFXX vs. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Federal Money Market Fund (VMFXX) and iShares Semiconductor ETF (SOXX). 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.

VMFXXSOXXDifference
Sharpe ratioReturn per unit of total volatility
3.67
4.99

-1.32

Sortino ratioReturn per unit of downside risk

—

4.74

—

Omega ratioGain probability vs. loss probability

—

1.68

—

Calmar ratioReturn relative to maximum drawdown

—

11.90

—

Martin ratioReturn relative to average drawdown

—

43.29

—

VMFXX vs. SOXX - Sharpe Ratio Comparison

The current VMFXX Sharpe Ratio is 3.67, which is comparable to the SOXX Sharpe Ratio of 4.99. The chart below compares the historical Sharpe Ratios of VMFXX and SOXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VMFXX vs. SOXX - Drawdown Comparison

The maximum VMFXX drawdown since its inception was 0.00%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for VMFXX and SOXX.

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Drawdown Indicators

VMFXXSOXXDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-70.21%

+70.21%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-15.77%

+15.77%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-41.36%

+41.36%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-45.75%

+45.75%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.75%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

0.00%

-19.95%

+19.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

4.32%

-4.32%

Volatility

VMFXX vs. SOXX - Volatility Comparison

The current volatility for Vanguard Federal Money Market Fund (VMFXX) is 0.30%, while iShares Semiconductor ETF (SOXX) has a volatility of 19.99%. This indicates that VMFXX experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VMFXXSOXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.30%

19.99%

-19.69%

Volatility (6M)

Calculated over the trailing 6-month period

0.72%

31.81%

-31.09%

Volatility (1Y)

Calculated over the trailing 1-year period

1.12%

37.63%

-36.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.94%

36.81%

-35.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.94%

33.82%

-32.88%

VMFXX vs. SOXX - Expense Ratio Comparison

VMFXX has a 0.11% expense ratio, which is lower than SOXX's 0.34% expense ratio.

Dividends

VMFXX vs. SOXX - Dividend Comparison

VMFXX's dividend yield for the trailing twelve months is around 3.87%, more than SOXX's 0.31% yield.

PositionTTM20252024202320222021202020192018201720162015
SOXX
iShares Semiconductor ETF		0.31%0.57%0.67%0.78%1.26%0.64%0.81%1.23%1.37%0.90%1.08%1.29%
VMFXX
Vanguard Federal Money Market Fund		3.87%4.14%1.63%4.53%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VMFXX and SOXX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXX has higher volatility (19.99%) compared to VMFXX (0.30%). In terms of maximum drawdown, VMFXX dropped 0.00% vs SOXX's -70.21%.

SOXX currently has the higher Sharpe Ratio (4.99 vs 3.67), 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.

Portfolio Optimizer

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