VMGAX vs. VIIIX
Compare and contrast key facts about Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX).
VMGAX is managed by Vanguard. It was launched on Apr 3, 2008. VIIIX is managed by Vanguard. It was launched on Jul 7, 1997.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMGAX or VIIIX.
Key characteristics
| VMGAX | VIIIX | |
|---|---|---|
| YTD Return | 20.74% | 18.97% |
| 1Y Return | 32.79% | 28.26% |
| 3Y Return (Ann) | 9.03% | 9.92% |
| 5Y Return (Ann) | 19.35% | 15.31% |
| 10Y Return (Ann) | 15.89% | 12.89% |
| Sharpe Ratio | 1.84 | 2.20 |
| Daily Std Dev | 17.69% | 12.71% |
| Max Drawdown | -48.61% | -55.18% |
| Current Drawdown | -5.36% | -0.61% |
Correlation
The correlation between VMGAX and VIIIX is 0.95, 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.
Performance
VMGAX vs. VIIIX - Performance Comparison
In the year-to-date period, VMGAX achieves a 20.74% return, which is significantly higher than VIIIX's 18.97% return. Over the past 10 years, VMGAX has outperformed VIIIX with an annualized return of 15.89%, while VIIIX has yielded a comparatively lower 12.89% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VMGAX vs. VIIIX - Expense Ratio Comparison
VMGAX has a 0.06% expense ratio, which is higher than VIIIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
VMGAX vs. VIIIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.
Dividends
VMGAX vs. VIIIX - Dividend Comparison
VMGAX's dividend yield for the trailing twelve months is around 0.44%, less than VIIIX's 2.56% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 0.34% | 0.51% | 0.71% | 0.42% | 0.65% | 0.86% | 1.13% | 1.23% | 1.53% | 1.44% | 1.25% | 1.31% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.56% | 2.98% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% | 1.90% | 1.51% |
Drawdowns
VMGAX vs. VIIIX - Drawdown Comparison
The maximum VMGAX drawdown since its inception was -48.61%, smaller than the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for VMGAX and VIIIX. For additional features, visit the drawdowns tool.
Volatility
VMGAX vs. VIIIX - Volatility Comparison
Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) has a higher volatility of 5.45% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 3.98%. This indicates that VMGAX's price experiences larger fluctuations and is considered to be riskier than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.