VMVFX vs. VMNFX
Compare and contrast key facts about Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) and Vanguard Market Neutral Fund Investor Shares (VMNFX).
VMVFX is managed by Vanguard. It was launched on Dec 12, 2013. VMNFX is managed by Vanguard. It was launched on Nov 11, 1998.
Performance
VMVFX vs. VMNFX - Performance Comparison
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VMVFX vs. VMNFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVFX Vanguard Global Minimum Volatility Fund Investor Shares | 2.85% | 12.74% | 13.38% | 7.82% | -4.48% | 23.74% | -3.99% | 23.28% | -1.79% | 15.93% |
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% |
Returns By Period
In the year-to-date period, VMVFX achieves a 2.85% return, which is significantly lower than VMNFX's 5.66% return. Over the past 10 years, VMVFX has outperformed VMNFX with an annualized return of 9.14%, while VMNFX has yielded a comparatively lower 3.95% annualized return.
VMVFX
- 1D
- 1.12%
- 1M
- -4.98%
- YTD
- 2.85%
- 6M
- 4.18%
- 1Y
- 9.22%
- 3Y*
- 11.81%
- 5Y*
- 10.02%
- 10Y*
- 9.14%
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%
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VMVFX vs. VMNFX - Expense Ratio Comparison
VMVFX has a 0.21% expense ratio, which is lower than VMNFX's 1.31% expense ratio.
Return for Risk
VMVFX vs. VMNFX — Risk / Return Rank
VMVFX
VMNFX
VMVFX vs. VMNFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) 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.
| VMVFX | VMNFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 2.04 | -1.11 |
Sortino ratioReturn per unit of downside risk | 1.34 | 3.03 | -1.70 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.37 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.29 | 3.25 | -1.97 |
Martin ratioReturn relative to average drawdown | 6.16 | 9.21 | -3.05 |
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
| VMVFX | VMNFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 2.04 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 1.73 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.63 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.31 | +0.48 |
Correlation
The correlation between VMVFX and VMNFX is 0.07, 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
VMVFX vs. VMNFX - Dividend Comparison
VMVFX's dividend yield for the trailing twelve months is around 9.70%, more than VMNFX's 3.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMVFX Vanguard Global Minimum Volatility Fund Investor Shares | 9.70% | 9.98% | 3.77% | 3.05% | 4.96% | 12.73% | 2.02% | 5.12% | 7.27% | 2.30% | 2.71% | 3.22% |
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% |
Drawdowns
VMVFX vs. VMNFX - Drawdown Comparison
The maximum VMVFX drawdown since its inception was -33.09%, which is greater than VMNFX's maximum drawdown of -26.42%. Use the drawdown chart below to compare losses from any high point for VMVFX and VMNFX.
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Drawdown Indicators
| VMVFX | VMNFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -26.42% | -6.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -4.93% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -13.02% | -6.75% | -6.27% |
Max Drawdown (10Y)Largest decline over 10 years | -33.09% | -25.09% | -8.00% |
Current DrawdownCurrent decline from peak | -4.98% | -0.40% | -4.58% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -8.81% | +5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 1.74% | -0.08% |
Volatility
VMVFX vs. VMNFX - Volatility Comparison
Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX) has a higher volatility of 2.93% compared to Vanguard Market Neutral Fund Investor Shares (VMNFX) at 1.56%. This indicates that VMVFX's price experiences larger fluctuations and is considered to be riskier than VMNFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVFX | VMNFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 1.56% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.99% | 5.83% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.06% | 7.64% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 7.18% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.49% | 6.34% | +6.15% |