VMNFX vs. SPY
Compare and contrast key facts about Vanguard Market Neutral Fund Investor Shares (VMNFX) and SPDR S&P 500 ETF (SPY).
VMNFX is managed by Vanguard. It was launched on Nov 11, 1998. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMNFX or SPY.
Correlation
The correlation between VMNFX and SPY is 0.01, 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. SPY - Performance Comparison
Key characteristics
VMNFX:
-0.25
SPY:
-0.09
VMNFX:
-0.32
SPY:
-0.02
VMNFX:
0.96
SPY:
1.00
VMNFX:
-0.30
SPY:
-0.09
VMNFX:
-0.73
SPY:
-0.45
VMNFX:
2.25%
SPY:
3.31%
VMNFX:
6.47%
SPY:
15.87%
VMNFX:
-25.93%
SPY:
-55.19%
VMNFX:
-3.88%
SPY:
-17.32%
Returns By Period
In the year-to-date period, VMNFX achieves a -0.57% return, which is significantly higher than SPY's -13.53% return. Over the past 10 years, VMNFX has underperformed SPY with an annualized return of 3.20%, while SPY has yielded a comparatively higher 11.17% annualized return.
VMNFX
-0.57%
0.95%
-3.75%
-1.50%
9.19%
3.20%
SPY
-13.53%
-12.00%
-11.25%
-1.30%
15.50%
11.17%
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VMNFX vs. SPY - Expense Ratio Comparison
VMNFX has a 1.31% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
VMNFX vs. SPY — Risk-Adjusted Performance Rank
VMNFX
SPY
VMNFX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Investor Shares (VMNFX) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
VMNFX's dividend yield for the trailing twelve months is around 5.71%, more than SPY's 1.42% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 5.71% | 5.61% | 5.09% | 0.75% | 0.15% | 0.81% | 3.16% | 0.94% | 1.07% | 0.38% | 0.02% | 0.00% |
SPY SPDR S&P 500 ETF | 1.42% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
VMNFX vs. SPY - Drawdown Comparison
The maximum VMNFX drawdown since its inception was -25.93%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VMNFX and SPY. For additional features, visit the drawdowns tool.
Volatility
VMNFX vs. SPY - Volatility Comparison
The current volatility for Vanguard Market Neutral Fund Investor Shares (VMNFX) is 2.44%, while SPDR S&P 500 ETF (SPY) has a volatility of 9.29%. This indicates that VMNFX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.