VMGMX vs. VMFGX
VMGMX (Vanguard Mid-Cap Growth Index Fund Admiral Shares) and VMFGX (Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares) are both Mid Cap Growth Equities funds from Vanguard. Over the past 10 years, VMGMX returned 11.73%/yr vs 11.01%/yr for VMFGX. Their correlation of 0.92 means they have usually moved in the same direction. VMGMX charges 0.07%/yr vs 0.08%/yr for VMFGX.
Performance
VMGMX vs. VMFGX - Performance Comparison
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Returns By Period
In the year-to-date period, VMGMX achieves a 8.34% return, which is significantly lower than VMFGX's 17.38% return. Over the past 10 years, VMGMX has outperformed VMFGX with an annualized return of 11.73%, while VMFGX has yielded a comparatively lower 11.01% annualized 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%
VMFGX
- 1D
- 1.30%
- 1M
- -1.51%
- 6M
- 11.73%
- YTD
- 17.38%
- 1Y
- 22.85%
- 3Y*
- 14.99%
- 5Y*
- 7.90%
- 10Y*
- 11.01%
- ALL TIME*
- 12.17%
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 |
VMGMX vs. VMFGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -5.61% | 21.83% |
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 17.38% | 7.43% | 15.86% | 17.42% | -18.99% | 18.83% | 22.61% | 26.20% | -10.39% | 19.87% |
Correlation
The correlation between VMGMX and VMFGX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.92 |
The correlation between VMGMX and VMFGX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
VMGMX vs. VMFGX — Risk / Return Rank
VMGMX
VMFGX
VMGMX vs. VMFGX - 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 Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX). 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 | VMFGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.25 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 2.48 | -2.09 |
| Martin ratioReturn relative to average drawdown | 1.15 | 9.12 | -7.97 |
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Drawdowns
VMGMX vs. VMFGX - Drawdown Comparison
The maximum VMGMX drawdown since its inception was -37.17%, smaller than the maximum VMFGX drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for VMGMX and VMFGX.
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Drawdown Indicators
| VMGMX | VMFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.17% | -39.15% | +1.98% |
Max Drawdown (1Y)Largest decline over 1 year | -15.95% | -9.91% | -6.04% |
Max Drawdown (3Y)Largest decline over 3 years | -21.65% | -25.45% | +3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -37.17% | -29.25% | -7.92% |
Max Drawdown (10Y)Largest decline over 10 years | -37.17% | -39.15% | +1.98% |
Current DrawdownCurrent decline from peak | -1.65% | -3.44% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -6.97% | -5.67% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 2.69% | +2.72% |
Volatility
VMGMX vs. VMFGX - Volatility Comparison
Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX) have volatilities of 4.57% and 4.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMGMX | VMFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.62% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 13.92% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.34% | 17.66% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.64% | 20.72% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.04% | 21.08% | -0.04% |
VMGMX vs. VMFGX - Expense Ratio Comparison
VMGMX has a 0.07% expense ratio, which is lower than VMFGX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VMGMX vs. VMFGX - Dividend Comparison
VMGMX's dividend yield for the trailing twelve months is around 0.60%, which matches VMFGX's 0.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 0.60% | 0.70% | 0.84% | 1.21% | 1.12% | 0.53% | 0.79% | 1.22% | 1.18% | 0.93% | 1.14% | 1.14% |
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
VMGMX and VMFGX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMFGX has higher volatility (4.62%) compared to VMGMX (4.57%). In terms of maximum drawdown, VMGMX dropped -37.17% vs VMFGX's -39.15%.
VMFGX currently has the higher Sharpe Ratio (1.40 vs 0.36), 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.
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