VMNFX vs. VOO
Compare and contrast key facts about Vanguard Market Neutral Fund Investor Shares (VMNFX) and Vanguard S&P 500 ETF (VOO).
VMNFX is managed by Vanguard. It was launched on Nov 11, 1998. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.
Performance
VMNFX vs. VOO - Performance Comparison
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VMNFX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 5.66% | 9.27% | 5.78% | 12.23% | 13.48% | 23.24% | -11.58% | -9.57% | 0.60% | -4.89% |
VOO Vanguard S&P 500 ETF | -3.66% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, VMNFX achieves a 5.66% return, which is significantly higher than VOO's -3.66% return. Over the past 10 years, VMNFX has underperformed VOO with an annualized return of 3.95%, while VOO has yielded a comparatively higher 14.14% annualized return.
VMNFX
- 1D
- -0.40%
- 1M
- 3.01%
- YTD
- 5.66%
- 6M
- 8.53%
- 1Y
- 15.15%
- 3Y*
- 11.56%
- 5Y*
- 12.36%
- 10Y*
- 3.95%
VOO
- 1D
- 0.79%
- 1M
- -4.29%
- YTD
- -3.66%
- 6M
- -1.41%
- 1Y
- 18.17%
- 3Y*
- 18.58%
- 5Y*
- 11.93%
- 10Y*
- 14.14%
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VMNFX vs. VOO - Expense Ratio Comparison
VMNFX has a 1.31% expense ratio, which is higher than VOO's 0.03% expense ratio.
Return for Risk
VMNFX vs. VOO — Risk / Return Rank
VMNFX
VOO
VMNFX vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Investor Shares (VMNFX) and Vanguard S&P 500 ETF (VOO). 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.
| VMNFX | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.04 | 1.01 | +1.03 |
Sortino ratioReturn per unit of downside risk | 3.03 | 1.53 | +1.50 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.23 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 1.55 | +1.70 |
Martin ratioReturn relative to average drawdown | 9.21 | 7.31 | +1.90 |
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
| VMNFX | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 1.01 | +1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.73 | 0.71 | +1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.79 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.83 | -0.52 |
Correlation
The correlation between VMNFX and VOO 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.
Dividends
VMNFX vs. VOO - Dividend Comparison
VMNFX's dividend yield for the trailing twelve months is around 3.32%, more than VOO's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNFX Vanguard Market Neutral Fund Investor Shares | 3.32% | 3.53% | 5.61% | 5.09% | 0.75% | 0.16% | 0.81% | 3.16% | 0.94% | 1.07% | 0.38% | 0.02% |
VOO Vanguard S&P 500 ETF | 1.18% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
VMNFX vs. VOO - Drawdown Comparison
The maximum VMNFX drawdown since its inception was -26.42%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VMNFX and VOO.
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Drawdown Indicators
| VMNFX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.42% | -33.99% | +7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.93% | -11.98% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -6.75% | -24.52% | +17.77% |
Max Drawdown (10Y)Largest decline over 10 years | -25.09% | -33.99% | +8.90% |
Current DrawdownCurrent decline from peak | -0.40% | -5.55% | +5.15% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -3.72% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 2.55% | -0.81% |
Volatility
VMNFX vs. VOO - Volatility Comparison
The current volatility for Vanguard Market Neutral Fund Investor Shares (VMNFX) is 1.56%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.34%. This indicates that VMNFX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMNFX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 5.34% | -3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 5.83% | 9.47% | -3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.64% | 18.11% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 16.82% | -9.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.34% | 17.99% | -11.65% |