VMGAX vs. VOO
Compare and contrast key facts about Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and Vanguard S&P 500 ETF (VOO).
VMGAX is managed by Vanguard. It was launched on Apr 3, 2008. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.
Performance
VMGAX vs. VOO - Performance Comparison
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VMGAX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | -10.88% | 20.73% | 32.98% | 51.57% | -33.55% | 28.50% | 41.02% | 37.54% | -2.86% | 29.49% |
VOO Vanguard S&P 500 ETF | -3.66% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, VMGAX achieves a -10.88% return, which is significantly lower than VOO's -3.66% return. Over the past 10 years, VMGAX has outperformed VOO with an annualized return of 16.86%, while VOO has yielded a comparatively lower 14.14% annualized return.
VMGAX
- 1D
- 4.01%
- 1M
- -5.22%
- YTD
- -10.88%
- 6M
- -8.98%
- 1Y
- 18.45%
- 3Y*
- 22.15%
- 5Y*
- 12.39%
- 10Y*
- 16.86%
VOO
- 1D
- 0.79%
- 1M
- -4.29%
- YTD
- -3.66%
- 6M
- -1.41%
- 1Y
- 18.17%
- 3Y*
- 18.58%
- 5Y*
- 11.93%
- 10Y*
- 14.14%
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VMGAX vs. VOO - Expense Ratio Comparison
VMGAX has a 0.06% expense ratio, which is higher than VOO's 0.03% 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%.
Return for Risk
VMGAX vs. VOO — Risk / Return Rank
VMGAX
VOO
VMGAX vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and Vanguard S&P 500 ETF (VOO). 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.
| VMGAX | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 1.01 | -0.17 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.53 | -0.17 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.55 | -0.38 |
Martin ratioReturn relative to average drawdown | 4.12 | 7.31 | -3.19 |
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
| VMGAX | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.01 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.71 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.79 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.83 | -0.24 |
Correlation
The correlation between VMGAX and VOO is 0.94, 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
VMGAX vs. VOO - Dividend Comparison
VMGAX's dividend yield for the trailing twelve months is around 0.40%, less than VOO's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 0.40% | 0.36% | 0.44% | 0.51% | 0.71% | 0.42% | 0.65% | 0.86% | 1.13% | 1.23% | 1.53% | 1.44% |
VOO Vanguard S&P 500 ETF | 1.18% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
VMGAX vs. VOO - Drawdown Comparison
The maximum VMGAX drawdown since its inception was -47.97%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VMGAX and VOO.
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Drawdown Indicators
| VMGAX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.97% | -33.99% | -13.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.78% | -11.98% | -4.80% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -24.52% | -11.51% |
Max Drawdown (10Y)Largest decline over 10 years | -36.03% | -33.99% | -2.04% |
Current DrawdownCurrent decline from peak | -13.45% | -5.55% | -7.90% |
Average DrawdownAverage peak-to-trough decline | -7.49% | -3.72% | -3.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 2.55% | +2.21% |
Volatility
VMGAX vs. VOO - Volatility Comparison
Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) has a higher volatility of 7.10% compared to Vanguard S&P 500 ETF (VOO) at 5.34%. This indicates that VMGAX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMGAX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | 5.34% | +1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 12.93% | 9.47% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.47% | 18.11% | +5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.72% | 16.82% | +5.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.83% | 17.99% | +3.84% |