VMIAX vs. VIIIX
Compare and contrast key facts about Vanguard Materials Index Fund Admiral Shares (VMIAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX).
VMIAX is managed by Vanguard. It was launched on Feb 11, 2004. VIIIX is managed by Vanguard. It was launched on Jul 7, 1997.
Performance
VMIAX vs. VIIIX - Performance Comparison
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VMIAX vs. VIIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMIAX Vanguard Materials Index Fund Admiral Shares | 6.53% | 12.26% | 0.45% | 13.69% | -11.77% | 27.15% | 19.37% | 23.59% | -17.38% | 23.68% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | -7.06% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
Returns By Period
In the year-to-date period, VMIAX achieves a 6.53% return, which is significantly higher than VIIIX's -7.06% return. Over the past 10 years, VMIAX has underperformed VIIIX with an annualized return of 10.28%, while VIIIX has yielded a comparatively higher 13.82% annualized return.
VMIAX
- 1D
- 0.18%
- 1M
- -9.44%
- YTD
- 6.53%
- 6M
- 8.30%
- 1Y
- 18.48%
- 3Y*
- 9.17%
- 5Y*
- 6.78%
- 10Y*
- 10.28%
VIIIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.06%
- 6M
- -4.59%
- 1Y
- 14.44%
- 3Y*
- 17.57%
- 5Y*
- 11.54%
- 10Y*
- 13.82%
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VMIAX vs. VIIIX - Expense Ratio Comparison
VMIAX has a 0.10% 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%.
Return for Risk
VMIAX vs. VIIIX — Risk / Return Rank
VMIAX
VIIIX
VMIAX vs. VIIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials Index Fund Admiral Shares (VMIAX) 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.
| VMIAX | VIIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.84 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.30 | +0.11 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.06 | +0.14 |
Martin ratioReturn relative to average drawdown | 4.14 | 5.14 | -1.00 |
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
| VMIAX | VIIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.84 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.69 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.77 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.46 | -0.08 |
Correlation
The correlation between VMIAX and VIIIX is 0.81, 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
VMIAX vs. VIIIX - Dividend Comparison
VMIAX's dividend yield for the trailing twelve months is around 1.45%, less than VIIIX's 2.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMIAX Vanguard Materials Index Fund Admiral Shares | 1.45% | 1.56% | 1.70% | 1.72% | 1.98% | 1.33% | 1.67% | 1.94% | 2.02% | 1.63% | 1.73% | 2.31% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.90% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
Drawdowns
VMIAX vs. VIIIX - Drawdown Comparison
The maximum VMIAX drawdown since its inception was -62.17%, which is greater than VIIIX's maximum drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for VMIAX and VIIIX.
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Drawdown Indicators
| VMIAX | VIIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.17% | -55.18% | -6.99% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -12.12% | -2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -24.50% | -0.95% |
Max Drawdown (10Y)Largest decline over 10 years | -41.02% | -33.79% | -7.23% |
Current DrawdownCurrent decline from peak | -9.44% | -8.90% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -9.67% | -10.07% | +0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 2.49% | +1.64% |
Volatility
VMIAX vs. VIIIX - Volatility Comparison
Vanguard Materials Index Fund Admiral Shares (VMIAX) has a higher volatility of 6.44% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 4.24%. This indicates that VMIAX'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.
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Volatility by Period
| VMIAX | VIIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 4.24% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 13.15% | 9.08% | +4.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.35% | 18.13% | +3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 16.85% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.15% | 18.02% | +3.13% |