VMNIX vs. VMNFX
Compare and contrast key facts about Vanguard Market Neutral Fund Institutional Shares (VMNIX) and Vanguard Market Neutral Fund Investor Shares (VMNFX).
VMNIX is managed by Vanguard. It was launched on Oct 19, 1998. VMNFX is managed by Vanguard. It was launched on Nov 11, 1998.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VMNIX or VMNFX.
Performance
VMNIX vs. VMNFX - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with VMNIX having a 5.98% return and VMNFX slightly lower at 5.86%. Both investments have delivered pretty close results over the past 10 years, with VMNIX having a 3.31% annualized return and VMNFX not far behind at 3.23%.
VMNIX
5.98%
-1.62%
2.20%
6.81%
7.83%
3.31%
VMNFX
5.86%
-1.69%
2.12%
6.74%
7.76%
3.23%
Key characteristics
| VMNIX | VMNFX | |
|---|---|---|
| Sharpe Ratio | 1.09 | 1.09 |
| Sortino Ratio | 1.62 | 1.62 |
| Omega Ratio | 1.19 | 1.19 |
| Calmar Ratio | 2.07 | 2.06 |
| Martin Ratio | 4.92 | 4.88 |
| Ulcer Index | 1.38% | 1.38% |
| Daily Std Dev | 6.23% | 6.20% |
| Max Drawdown | -25.29% | -25.42% |
| Current Drawdown | -3.19% | -3.25% |
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VMNIX vs. VMNFX - Expense Ratio Comparison
VMNIX has a 1.25% expense ratio, which is lower than VMNFX's 1.31% expense ratio.
Correlation
The correlation between VMNIX and VMNFX 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.
Risk-Adjusted Performance
VMNIX vs. VMNFX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Market Neutral Fund Institutional Shares (VMNIX) and Vanguard Market Neutral Fund Investor Shares (VMNFX). 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
VMNIX vs. VMNFX - Dividend Comparison
VMNIX's dividend yield for the trailing twelve months is around 4.90%, more than VMNFX's 4.84% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMNIX Vanguard Market Neutral Fund Institutional Shares | 4.90% | 5.15% | 0.78% | 0.20% | 0.85% | 3.22% | 1.00% | 1.16% | 0.45% | 0.10% | 0.00% | 0.04% |
VMNFX Vanguard Market Neutral Fund Investor Shares | 4.84% | 5.09% | 0.75% | 0.15% | 0.81% | 3.16% | 0.94% | 1.07% | 0.38% | 0.02% | 0.00% | 0.03% |
Drawdowns
VMNIX vs. VMNFX - Drawdown Comparison
The maximum VMNIX drawdown since its inception was -25.29%, roughly equal to the maximum VMNFX drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for VMNIX and VMNFX. For additional features, visit the drawdowns tool.
Volatility
VMNIX vs. VMNFX - Volatility Comparison
Vanguard Market Neutral Fund Institutional Shares (VMNIX) and Vanguard Market Neutral Fund Investor Shares (VMNFX) have volatilities of 2.22% and 2.24%, 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.