VMGMX vs. VKSIX

Last updated Aug 5, 2026

VMGMX (Vanguard Mid-Cap Growth Index Fund Admiral Shares) and VKSIX (Virtus KAR Small-Mid Cap Core Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, VMGMX returned 5.16%/yr vs -0.37%/yr for VKSIX. Their correlation of 0.88 means they have usually moved in the same direction. VMGMX charges 0.07%/yr vs 1.02%/yr for VKSIX.

Performance

VMGMX vs. VKSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Virtus KAR Small-Mid Cap Core Fund (VKSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMGMX achieves a 8.34% return, which is significantly higher than VKSIX's -2.74% return.

VMGMX

• 1D: 1.99%
• 1M: 0.08%
• 6M: 10.83%
• YTD: 8.34%
• 1Y: 3.99%
• 3Y*: 14.38%
• 5Y*: 5.16%
• 10Y*: 11.73%
• ALL TIME*: 12.51%

VKSIX

• 1D: 1.67%
• 1M: 0.37%
• 6M: -4.56%
• YTD: -2.74%
• 1Y: -9.60%
• 3Y*: 2.95%
• 5Y*: -0.37%
• 10Y*: —
• ALL TIME*: 8.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VKSIX Virtus KAR Small-Mid Cap Core Fund	$0.00	$0.00	$0.00
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	$0.00	$0.00	$0.00

VMGMX vs. VKSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	8.34%	10.69%	15.65%	23.93%	-28.84%	20.48%	34.45%	33.85%	-9.94%
VKSIX Virtus KAR Small-Mid Cap Core Fund	-2.74%	-4.36%	9.07%	23.61%	-23.83%	19.54%	33.45%	38.81%	-6.68%

Correlation

The correlation between VMGMX and VKSIX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.88

Over the past year, the correlation between VMGMX and VKSIX has dropped to 0.66 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

VMGMX vs. VKSIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VMGMX

VMGMX Risk / Return Rank: 8
VMGMX Sharpe Ratio Rank: 8
VMGMX Sortino Ratio Rank: 9
VMGMX Omega Ratio Rank: 8
VMGMX Calmar Ratio Rank: 8
VMGMX Martin Ratio Rank: 8

VKSIX

VKSIX Risk / Return Rank: 1
VKSIX Sharpe Ratio Rank: 1
VKSIX Sortino Ratio Rank: 1
VKSIX Omega Ratio Rank: 1
VKSIX Calmar Ratio Rank: 1
VKSIX Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VMGMX vs. VKSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Virtus KAR Small-Mid Cap Core Fund (VKSIX). 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.

	VMGMX	VKSIX	Difference
Sharpe ratio: Return per unit of total volatility	0.36	-0.55	+0.91
Sortino ratio: Return per unit of downside risk	0.62	-0.72	+1.34
Omega ratio: Gain probability vs. loss probability	1.07	0.92	+0.15
Calmar ratio: Return relative to maximum drawdown	0.39	-0.57	+0.96
Martin ratio: Return relative to average drawdown	1.15	-1.05	+2.20

VMGMX vs. VKSIX - Sharpe Ratio Comparison

The current VMGMX Sharpe Ratio is 0.36, which is higher than the VKSIX Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of VMGMX and VKSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VMGMX vs. VKSIX - Drawdown Comparison

The maximum VMGMX drawdown since its inception was -37.17%, roughly equal to the maximum VKSIX drawdown of -35.59%. Use the drawdown chart below to compare losses from any high point for VMGMX and VKSIX.

Drawdown Indicators

	VMGMX	VKSIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.17%	-35.59%	-1.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.95%	-15.71%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-20.29%	-1.36%
Max Drawdown (5Y) Largest decline over 5 years	-37.17%	-32.49%	-4.68%
Max Drawdown (10Y) Largest decline over 10 years	-37.17%	—	—
Current Drawdown Current decline from peak	-1.65%	-14.24%	+12.59%
Average Drawdown Average peak-to-trough decline	-6.97%	-9.02%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.41%	8.46%	-3.05%

Volatility

VMGMX vs. VKSIX - Volatility Comparison

The current volatility for Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) is 4.57%, while Virtus KAR Small-Mid Cap Core Fund (VKSIX) has a volatility of 5.07%. This indicates that VMGMX experiences smaller price fluctuations and is considered to be less risky than VKSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMGMX	VKSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	5.07%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	13.97%	12.30%	+1.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.34%	16.32%	+1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.64%	19.30%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.04%	20.89%	+0.15%

VMGMX vs. VKSIX - Expense Ratio Comparison

VMGMX has a 0.07% expense ratio, which is lower than VKSIX's 1.02% expense ratio.

Dividends

VMGMX vs. VKSIX - Dividend Comparison

VMGMX's dividend yield for the trailing twelve months is around 0.60%, more than VKSIX's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VKSIX Virtus KAR Small-Mid Cap Core Fund	0.35%	0.34%	0.43%	0.00%	0.00%	1.13%	0.01%	0.00%	1.47%	0.00%	0.00%	0.00%
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares	0.60%	0.64%	0.67%	0.71%	0.78%	0.34%	0.56%	0.78%	0.84%	0.72%	0.81%	0.82%

Frequently Asked Questions

Can I hold both VMGMX and VKSIX in my portfolio?

VMGMX and VKSIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMGMX or VKSIX?

VKSIX has higher volatility (5.07%) compared to VMGMX (4.57%). In terms of maximum drawdown, VMGMX dropped -37.17% vs VKSIX's -35.59%.

Which has better risk-adjusted returns?

VMGMX currently has the higher Sharpe Ratio (0.36 vs -0.55), 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.