VMNFX vs. RSP
Compare and contrast key facts about Vanguard Market Neutral Fund Investor Shares (VMNFX) and Invesco S&P 500® Equal Weight ETF (RSP).
VMNFX is managed by Vanguard. It was launched on Nov 11, 1998. RSP is a passively managed fund by Invesco that tracks the performance of the S&P Equal Weight Index. It was launched on Apr 30, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMNFX or RSP.
Key characteristics
| VMNFX | RSP | |
|---|---|---|
| YTD Return | 7.53% | 18.08% |
| 1Y Return | 7.41% | 34.45% |
| 3Y Return (Ann) | 14.02% | 6.26% |
| 5Y Return (Ann) | 8.28% | 12.47% |
| 10Y Return (Ann) | 3.49% | 10.72% |
| Sharpe Ratio | 1.27 | 2.84 |
| Sortino Ratio | 1.89 | 3.98 |
| Omega Ratio | 1.22 | 1.51 |
| Calmar Ratio | 2.40 | 2.66 |
| Martin Ratio | 5.41 | 16.87 |
| Ulcer Index | 1.46% | 1.97% |
| Daily Std Dev | 6.21% | 11.74% |
| Max Drawdown | -25.42% | -59.92% |
| Current Drawdown | -1.73% | 0.00% |
Correlation
The correlation between VMNFX and RSP is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
VMNFX vs. RSP - Performance Comparison
In the year-to-date period, VMNFX achieves a 7.53% return, which is significantly lower than RSP's 18.08% return. Over the past 10 years, VMNFX has underperformed RSP with an annualized return of 3.49%, while RSP has yielded a comparatively higher 10.72% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VMNFX vs. RSP - Expense Ratio Comparison
VMNFX has a 1.31% expense ratio, which is higher than RSP's 0.20% expense ratio.
Risk-Adjusted Performance
VMNFX vs. RSP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Investor Shares (VMNFX) and Invesco S&P 500® Equal Weight ETF (RSP). 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.
Dividends
VMNFX vs. RSP - Dividend Comparison
VMNFX's dividend yield for the trailing twelve months is around 4.77%, more than RSP's 1.44% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 4.77% | 5.09% | 0.75% | 0.15% | 0.81% | 3.16% | 0.94% | 1.07% | 0.38% | 0.02% | 0.00% | 0.03% |
RSP Invesco S&P 500® Equal Weight ETF | 1.44% | 1.63% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% | 1.46% | 1.27% |
Drawdowns
VMNFX vs. RSP - Drawdown Comparison
The maximum VMNFX drawdown since its inception was -25.42%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for VMNFX and RSP. For additional features, visit the drawdowns tool.
Volatility
VMNFX vs. RSP - Volatility Comparison
The current volatility for Vanguard Market Neutral Fund Investor Shares (VMNFX) is 2.29%, while Invesco S&P 500® Equal Weight ETF (RSP) has a volatility of 3.52%. This indicates that VMNFX experiences smaller price fluctuations and is considered to be less risky than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.