VMVIX vs. SPY
Compare and contrast key facts about Vanguard Mid-Cap Value Index Fund (VMVIX) and State Street SPDR S&P 500 ETF (SPY).
VMVIX is managed by Vanguard. It was launched on Aug 17, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
VMVIX vs. SPY - Performance Comparison
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VMVIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVIX Vanguard Mid-Cap Value Index Fund | 2.87% | 11.22% | 13.48% | 10.00% | -8.00% | 28.60% | 2.33% | 27.85% | -12.57% | 16.91% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, VMVIX achieves a 2.87% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, VMVIX has underperformed SPY with an annualized return of 9.82%, while SPY has yielded a comparatively higher 13.98% annualized return.
VMVIX
- 1D
- -0.35%
- 1M
- -6.11%
- YTD
- 2.87%
- 6M
- 4.99%
- 1Y
- 15.27%
- 3Y*
- 12.77%
- 5Y*
- 8.26%
- 10Y*
- 9.82%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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VMVIX vs. SPY - Expense Ratio Comparison
VMVIX has a 0.19% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VMVIX vs. SPY — Risk / Return Rank
VMVIX
SPY
VMVIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value Index Fund (VMVIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| VMVIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 0.93 | +0.08 |
Sortino ratioReturn per unit of downside risk | 1.48 | 1.45 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.53 | -0.32 |
Martin ratioReturn relative to average drawdown | 5.63 | 7.30 | -1.67 |
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
| VMVIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.93 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.69 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.78 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.56 | -0.15 |
Correlation
The correlation between VMVIX and SPY is 0.89, 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.
Dividends
VMVIX vs. SPY - Dividend Comparison
VMVIX's dividend yield for the trailing twelve months is around 1.90%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMVIX Vanguard Mid-Cap Value Index Fund | 1.90% | 1.42% | 1.99% | 2.15% | 2.15% | 1.67% | 2.26% | 1.95% | 2.60% | 1.75% | 1.81% | 1.91% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
VMVIX vs. SPY - Drawdown Comparison
The maximum VMVIX drawdown since its inception was -61.61%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VMVIX and SPY.
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Drawdown Indicators
| VMVIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.61% | -55.19% | -6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -12.05% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.81% | -24.50% | +4.69% |
Max Drawdown (10Y)Largest decline over 10 years | -43.08% | -33.72% | -9.36% |
Current DrawdownCurrent decline from peak | -6.20% | -6.24% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -8.52% | -9.09% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 2.52% | +0.13% |
Volatility
VMVIX vs. SPY - Volatility Comparison
The current volatility for Vanguard Mid-Cap Value Index Fund (VMVIX) is 3.82%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that VMVIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 5.31% | -1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.62% | 9.47% | -0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.33% | 19.05% | -2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.08% | 17.06% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 17.92% | +0.88% |