VMNFX vs. VMNIX
Compare and contrast key facts about Vanguard Market Neutral Fund Investor Shares (VMNFX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX).
VMNFX is managed by Vanguard. It was launched on Nov 11, 1998. VMNIX is managed by Vanguard. It was launched on Oct 19, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMNFX or VMNIX.
Key characteristics
| VMNFX | VMNIX | |
|---|---|---|
| YTD Return | 7.53% | 7.57% |
| 1Y Return | 7.41% | 7.40% |
| 3Y Return (Ann) | 14.02% | 14.09% |
| 5Y Return (Ann) | 8.28% | 8.34% |
| 10Y Return (Ann) | 3.49% | 3.55% |
| Sharpe Ratio | 1.27 | 1.28 |
| Sortino Ratio | 1.89 | 1.89 |
| Omega Ratio | 1.22 | 1.22 |
| Calmar Ratio | 2.40 | 2.42 |
| Martin Ratio | 5.41 | 5.45 |
| Ulcer Index | 1.46% | 1.46% |
| Daily Std Dev | 6.21% | 6.23% |
| Max Drawdown | -25.42% | -25.29% |
| Current Drawdown | -1.73% | -1.73% |
Correlation
The correlation between VMNFX and VMNIX is 0.99, 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.
Performance
VMNFX vs. VMNIX - Performance Comparison
The year-to-date returns for both investments are quite close, with VMNFX having a 7.53% return and VMNIX slightly higher at 7.57%. Both investments have delivered pretty close results over the past 10 years, with VMNFX having a 3.49% annualized return and VMNIX not far ahead at 3.55%. 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. VMNIX - Expense Ratio Comparison
VMNFX has a 1.31% expense ratio, which is higher than VMNIX's 1.25% expense ratio.
Risk-Adjusted Performance
VMNFX vs. VMNIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Investor Shares (VMNFX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX). 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. VMNIX - Dividend Comparison
VMNFX's dividend yield for the trailing twelve months is around 4.77%, less than VMNIX's 4.83% 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% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 4.83% | 5.15% | 0.78% | 0.20% | 0.85% | 3.22% | 1.00% | 1.16% | 0.45% | 0.10% | 0.00% | 0.04% |
Drawdowns
VMNFX vs. VMNIX - Drawdown Comparison
The maximum VMNFX drawdown since its inception was -25.42%, roughly equal to the maximum VMNIX drawdown of -25.29%. Use the drawdown chart below to compare losses from any high point for VMNFX and VMNIX. For additional features, visit the drawdowns tool.
Volatility
VMNFX vs. VMNIX - Volatility Comparison
Vanguard Market Neutral Fund Investor Shares (VMNFX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX) have volatilities of 2.29% and 2.25%, 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.