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VMIAX vs. VIIIX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

VMIAX vs. VIIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Materials Index Fund Admiral Shares (VMIAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). The values are adjusted to include any dividend payments, if applicable.

-5.00%0.00%5.00%10.00%JuneJulyAugustSeptemberOctoberNovember
5.56%
13.27%
VMIAX
VIIIX

Returns By Period

In the year-to-date period, VMIAX achieves a 12.24% return, which is significantly lower than VIIIX's 26.33% return. Over the past 10 years, VMIAX has underperformed VIIIX with an annualized return of 8.70%, while VIIIX has yielded a comparatively higher 12.09% annualized return.


VMIAX

YTD

12.24%

1M

0.08%

6M

5.56%

1Y

21.02%

5Y (annualized)

12.29%

10Y (annualized)

8.70%

VIIIX

YTD

26.33%

1M

3.09%

6M

13.27%

1Y

30.93%

5Y (annualized)

13.62%

10Y (annualized)

12.09%

Key characteristics


VMIAXVIIIX
Sharpe Ratio1.472.51
Sortino Ratio2.053.37
Omega Ratio1.251.46
Calmar Ratio2.593.66
Martin Ratio6.8716.16
Ulcer Index3.06%1.91%
Daily Std Dev14.31%12.30%
Max Drawdown-62.17%-55.18%
Current Drawdown-2.09%-0.46%

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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%.


VMIAX
Vanguard Materials Index Fund Admiral Shares
Expense ratio chart for VMIAX: current value at 0.10% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.10%
Expense ratio chart for VIIIX: current value at 0.02% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.02%

Correlation

-0.50.00.51.00.8

The correlation between VMIAX and VIIIX is 0.82, 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.

Risk-Adjusted Performance

VMIAX vs. VIIIX - Risk-Adjusted Performance 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.


Sharpe ratio
The chart of Sharpe ratio for VMIAX, currently valued at 1.47, compared to the broader market-1.000.001.002.003.004.005.001.472.51
The chart of Sortino ratio for VMIAX, currently valued at 2.05, compared to the broader market0.005.0010.002.053.37
The chart of Omega ratio for VMIAX, currently valued at 1.25, compared to the broader market1.002.003.004.001.251.46
The chart of Calmar ratio for VMIAX, currently valued at 2.59, compared to the broader market0.005.0010.0015.0020.002.593.66
The chart of Martin ratio for VMIAX, currently valued at 6.87, compared to the broader market0.0020.0040.0060.0080.00100.006.8716.16
VMIAX
VIIIX

The current VMIAX Sharpe Ratio is 1.47, which is lower than the VIIIX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of VMIAX and VIIIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio0.001.002.003.004.00JuneJulyAugustSeptemberOctoberNovember
1.47
2.51
VMIAX
VIIIX

Dividends

VMIAX vs. VIIIX - Dividend Comparison

VMIAX's dividend yield for the trailing twelve months is around 1.53%, more than VIIIX's 1.26% yield.


TTM20232022202120202019201820172016201520142013
VMIAX
Vanguard Materials Index Fund Admiral Shares
1.53%1.72%1.98%1.44%1.67%1.94%2.02%1.63%1.67%2.31%1.76%1.83%
VIIIX
Vanguard Institutional Index Fund Institutional Plus Shares
1.26%1.49%1.75%1.30%1.60%1.93%2.14%1.84%2.09%2.47%1.90%1.87%

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. For additional features, visit the drawdowns tool.


-8.00%-6.00%-4.00%-2.00%0.00%JuneJulyAugustSeptemberOctoberNovember
-2.09%
-0.46%
VMIAX
VIIIX

Volatility

VMIAX vs. VIIIX - Volatility Comparison

Vanguard Materials Index Fund Admiral Shares (VMIAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) have volatilities of 4.14% and 3.96%, 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.


2.00%3.00%4.00%5.00%6.00%JuneJulyAugustSeptemberOctoberNovember
4.14%
3.96%
VMIAX
VIIIX