VMVAX vs. VMFGX
VMVAX (Vanguard Mid-Cap Value Index Fund Admiral Shares) and VMFGX (Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares) are both mutual funds - VMVAX is a Mid Cap Value Equities fund managed by Vanguard, while VMFGX is a Mid Cap Growth Equities fund managed by Vanguard. Over the past 10 years, VMVAX returned 10.56%/yr vs 11.68%/yr for VMFGX. Their correlation of 0.89 suggests significant overlap in exposure. VMVAX charges 0.07%/yr vs 0.08%/yr for VMFGX.
Performance
VMVAX vs. VMFGX - Performance Comparison
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Returns By Period
In the year-to-date period, VMVAX achieves a 10.95% return, which is significantly lower than VMFGX's 18.87% return. Over the past 10 years, VMVAX has underperformed VMFGX with an annualized return of 10.56%, while VMFGX has yielded a comparatively higher 11.68% annualized return.
VMVAX
- 1D
- 0.86%
- 1M
- 1.53%
- YTD
- 10.95%
- 6M
- 11.78%
- 1Y
- 22.89%
- 3Y*
- 16.59%
- 5Y*
- 8.52%
- 10Y*
- 10.56%
VMFGX
- 1D
- 0.71%
- 1M
- 5.67%
- YTD
- 18.87%
- 6M
- 19.12%
- 1Y
- 29.92%
- 3Y*
- 18.07%
- 5Y*
- 8.83%
- 10Y*
- 11.68%
VMVAX vs. VMFGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 10.95% | 12.06% | 13.63% | 10.12% | -7.89% | 28.77% | 2.45% | 28.03% | -12.44% | 17.04% |
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 18.87% | 7.43% | 15.86% | 17.42% | -18.99% | 18.83% | 22.61% | 26.20% | -10.39% | 19.87% |
Correlation
The correlation between VMVAX and VMFGX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2012 | 0.89 |
The correlation between VMVAX and VMFGX shifts across timeframes, from 0.76 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VMVAX vs. VMFGX — Risk / Return Rank
VMVAX
VMFGX
VMVAX vs. VMFGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX). 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.
| VMVAX | VMFGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 3.19 | +0.26 |
| Martin ratioReturn relative to average drawdown | 13.13 | 12.69 | +0.44 |
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
| VMVAX | VMFGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 1.87 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.43 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.56 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.64 | +0.05 |
Drawdowns
VMVAX vs. VMFGX - Drawdown Comparison
The maximum VMVAX drawdown since its inception was -43.07%, which is greater than VMFGX's maximum drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for VMVAX and VMFGX.
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Drawdown Indicators
| VMVAX | VMFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.07% | -39.15% | -3.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -9.91% | +2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -18.40% | -25.45% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -19.75% | -29.25% | +9.50% |
Max Drawdown (10Y)Largest decline over 10 years | -43.07% | -39.15% | -3.92% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -5.71% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 2.48% | -0.66% |
Volatility
VMVAX vs. VMFGX - Volatility Comparison
The current volatility for Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) is 2.65%, while Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX) has a volatility of 5.18%. This indicates that VMVAX experiences smaller price fluctuations and is considered to be less risky than VMFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVAX | VMFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 5.18% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 13.09% | -4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.41% | 16.85% | -5.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.02% | 20.61% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 21.05% | -2.26% |
VMVAX vs. VMFGX - Expense Ratio Comparison
VMVAX has a 0.07% expense ratio, which is lower than VMFGX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VMVAX vs. VMFGX - Dividend Comparison
VMVAX's dividend yield for the trailing twelve months is around 1.87%, more than VMFGX's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 0.59% | 0.70% | 0.84% | 1.21% | 1.12% | 0.53% | 0.79% | 1.22% | 1.18% | 0.93% | 1.14% | 1.14% |
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares | 1.87% | 2.10% | 2.11% | 2.26% | 2.27% | 1.78% | 2.36% | 2.08% | 2.75% | 1.86% | 1.91% | 2.04% |
Frequently Asked Questions
VMVAX and VMFGX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VMFGX has higher volatility (5.18%) compared to VMVAX (2.65%). In terms of maximum drawdown, VMVAX dropped -43.07% vs VMFGX's -39.15%.
VMVAX currently has the higher Sharpe Ratio (2.10 vs 1.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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