VMVIX vs. VMVAX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Mid-Cap Value Index Fund (VMVIX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX).

VMVIX is managed by Vanguard. It was launched on Aug 17, 2006. VMVAX is managed by Vanguard. It was launched on Sep 27, 2011.

Performance

VMVIX vs. VMVAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mid-Cap Value Index Fund (VMVIX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). The values are adjusted to include any dividend payments, if applicable.

VMVIX vs. VMVAX - 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%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	2.88%	12.06%	13.63%	10.12%	-7.89%	28.77%	2.45%	28.03%	-12.44%	17.04%

Returns By Period

The year-to-date returns for both investments are quite close, with VMVIX having a 2.87% return and VMVAX slightly higher at 2.88%. Both investments have delivered pretty close results over the past 10 years, with VMVIX having a 9.82% annualized return and VMVAX not far ahead at 10.02%.

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%

VMVAX

• 1D: -0.35%
• 1M: -6.11%
• YTD: 2.88%
• 6M: 5.05%
• 1Y: 15.40%
• 3Y*: 13.14%
• 5Y*: 8.52%
• 10Y*: 10.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VMVIX vs. VMVAX - Expense Ratio Comparison

VMVIX has a 0.19% expense ratio, which is higher than VMVAX's 0.07% 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%.

VMVIX

Vanguard Mid-Cap Value Index Fund

VMVAX

Vanguard Mid-Cap Value Index Fund Admiral Shares

Return for Risk

VMVIX vs. VMVAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VMVIX

VMVIX Risk / Return Rank: 54
VMVIX Sharpe Ratio Rank: 55
VMVIX Sortino Ratio Rank: 56
VMVIX Omega Ratio Rank: 53
VMVIX Calmar Ratio Rank: 50
VMVIX Martin Ratio Rank: 59

VMVAX

VMVAX Risk / Return Rank: 56
VMVAX Sharpe Ratio Rank: 57
VMVAX Sortino Ratio Rank: 58
VMVAX Omega Ratio Rank: 55
VMVAX Calmar Ratio Rank: 50
VMVAX Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VMVIX vs. VMVAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value Index Fund (VMVIX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX). 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	VMVAX	Difference
Sharpe ratio Return per unit of total volatility	1.01	1.02	-0.01
Sortino ratio Return per unit of downside risk	1.48	1.49	-0.01
Omega ratio Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio Return relative to maximum drawdown	1.20	1.21	-0.01
Martin ratio Return relative to average drawdown	5.63	5.68	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMVIX vs. VMVAX - Sharpe Ratio Comparison

The current VMVIX Sharpe Ratio is 1.01, which is comparable to the VMVAX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of VMVIX and VMVAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VMVIX	VMVAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	1.02	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.53	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.54	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.67	-0.26

Correlation

The correlation between VMVIX and VMVAX is 1.00, 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. VMVAX - Dividend Comparison

VMVIX's dividend yield for the trailing twelve months is around 1.90%, less than VMVAX's 2.02% 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%
VMVAX Vanguard Mid-Cap Value Index Fund Admiral Shares	2.02%	2.10%	2.11%	2.26%	2.27%	1.78%	2.36%	2.08%	2.75%	1.86%	1.91%	2.04%

Drawdowns

VMVIX vs. VMVAX - Drawdown Comparison

The maximum VMVIX drawdown since its inception was -61.61%, which is greater than VMVAX's maximum drawdown of -43.07%. Use the drawdown chart below to compare losses from any high point for VMVIX and VMVAX.

Drawdown Indicators

	VMVIX	VMVAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.61%	-43.07%	-18.54%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-12.42%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-19.81%	-19.75%	-0.06%
Max Drawdown (10Y) Largest decline over 10 years	-43.08%	-43.07%	-0.01%
Current Drawdown Current decline from peak	-6.20%	-6.19%	-0.01%
Average Drawdown Average peak-to-trough decline	-8.52%	-4.41%	-4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.65%	0.00%

Volatility

VMVIX vs. VMVAX - Volatility Comparison

Vanguard Mid-Cap Value Index Fund (VMVIX) and Vanguard Mid-Cap Value Index Fund Admiral Shares (VMVAX) have volatilities of 3.82% and 3.82%, 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.

Volatility by Period

	VMVIX	VMVAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	3.82%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	8.62%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.33%	16.33%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.08%	16.08%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	18.80%	0.00%