VMGAX vs. VRGWX
VMGAX (Vanguard Mega Cap Growth Index Fund Institutional Shares) and VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds from Vanguard - VMGAX tracks the CRSP US Mega Cap Growth Index while VRGWX tracks the Russell 1000 Growth Index. Both are passively managed. Over the past 10 years, VMGAX returned 18.05%/yr vs 17.69%/yr for VRGWX. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.
Performance
VMGAX vs. VRGWX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VMGAX achieves a 3.59% return, which is significantly higher than VRGWX's -0.51% return. Both investments have delivered pretty close results over the past 10 years, with VMGAX having a 18.05% annualized return and VRGWX not far behind at 17.69%.
VMGAX
- 1D
- 2.74%
- 1M
- -2.05%
- 6M
- 5.39%
- YTD
- 3.59%
- 1Y
- 15.11%
- 3Y*
- 21.22%
- 5Y*
- 12.81%
- 10Y*
- 18.05%
- ALL TIME*
- 13.38%
VRGWX
- 1D
- 2.96%
- 1M
- -3.22%
- 6M
- 1.02%
- YTD
- -0.51%
- 1Y
- 9.23%
- 3Y*
- 18.85%
- 5Y*
- 12.46%
- 10Y*
- 17.69%
- ALL TIME*
- 16.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VMGAX vs. VRGWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 3.59% | 20.73% | 32.98% | 51.57% | -33.55% | 28.50% | 41.02% | 37.54% | -2.86% | 29.49% |
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares | -0.51% | 18.32% | 33.25% | 42.65% | -29.18% | 32.42% | 38.38% | 36.30% | -1.59% | 30.11% |
Correlation
The correlation between VMGAX and VRGWX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.99 |
The correlation between VMGAX and VRGWX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VMGAX vs. VRGWX — Risk / Return Rank
VMGAX
VRGWX
VMGAX vs. VRGWX - 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 Russell 1000 Growth Index Fund Institutional Shares (VRGWX). 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.
| VMGAX | VRGWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.08 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.45 | +0.31 |
| Martin ratioReturn relative to average drawdown | 2.39 | 1.34 | +1.05 |
Loading charts...
Drawdowns
VMGAX vs. VRGWX - Drawdown Comparison
The maximum VMGAX drawdown since its inception was -47.97%, which is greater than VRGWX's maximum drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for VMGAX and VRGWX.
Loading charts...
Drawdown Indicators
| VMGAX | VRGWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.97% | -32.70% | -15.27% |
Max Drawdown (1Y)Largest decline over 1 year | -16.78% | -16.19% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.45% | -23.44% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -32.70% | -3.33% |
Max Drawdown (10Y)Largest decline over 10 years | -36.03% | -32.70% | -3.33% |
Current DrawdownCurrent decline from peak | -7.18% | -8.72% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -7.42% | -4.88% | -2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 5.38% | -0.05% |
Volatility
VMGAX vs. VRGWX - Volatility Comparison
The current volatility for Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) is 5.69%, while Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) has a volatility of 6.40%. This indicates that VMGAX experiences smaller price fluctuations and is considered to be less risky than VRGWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VMGAX | VRGWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 6.40% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 14.67% | 14.06% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.22% | 17.50% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.00% | 21.94% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.02% | 21.29% | +0.73% |
VMGAX vs. VRGWX - Expense Ratio Comparison
Both VMGAX and VRGWX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VMGAX vs. VRGWX - Dividend Comparison
VMGAX's dividend yield for the trailing twelve months is around 0.35%, less than VRGWX's 0.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 0.35% | 0.36% | 0.44% | 0.51% | 0.71% | 0.42% | 0.65% | 0.86% | 1.13% | 1.23% | 1.53% | 1.44% |
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares | 0.49% | 0.35% | 0.56% | 0.71% | 0.99% | 4.18% | 0.77% | 1.03% | 1.22% | 1.22% | 1.52% | 1.51% |
Frequently Asked Questions
With a correlation of 0.99, VMGAX and VRGWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VRGWX has higher volatility (6.40%) compared to VMGAX (5.69%). In terms of maximum drawdown, VMGAX dropped -47.97% vs VRGWX's -32.70%.
VMGAX currently has the higher Sharpe Ratio (0.70 vs 0.41), 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.
Find the right allocation for VMGAX and VRGWX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer