VPL vs. MMKT
VPL (Vanguard FTSE Pacific ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index, while MMKT is a Money Market fund actively managed by Texas Capital. VPL is passively managed, while MMKT is actively managed. Over the past year, VPL returned 47.86% vs 3.78% for MMKT. At a 0.00 correlation, their price movements are largely independent. VPL charges 0.08%/yr vs 0.20%/yr for MMKT.
Performance
VPL vs. MMKT - Performance Comparison
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Returns By Period
In the year-to-date period, VPL achieves a 25.73% return, which is significantly higher than MMKT's 1.64% return.
VPL
- 1D
- -5.86%
- 1M
- 1.56%
- YTD
- 25.73%
- 6M
- 25.83%
- 1Y
- 47.86%
- 3Y*
- 22.03%
- 5Y*
- 9.86%
- 10Y*
- 10.76%
MMKT
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.64%
- 6M
- 1.74%
- 1Y
- 3.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VPL vs. MMKT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VPL Vanguard FTSE Pacific ETF | 25.73% | 32.66% | -7.14% |
MMKT Texas Capital Government Money Market ETF | 1.64% | 4.13% | 1.22% |
Correlation
The correlation between VPL and MMKT is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.00 |
The correlation between VPL and MMKT shifts across timeframes, from -0.13 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VPL vs. MMKT — Risk / Return Rank
VPL
MMKT
VPL vs. MMKT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) and Texas Capital Government Money Market ETF (MMKT). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VPL | MMKT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.59 | ||
| Sortino ratioReturn per unit of downside risk | -59.95 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 15.48 | -14.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 152.14 | -148.53 |
| Martin ratioReturn relative to average drawdown | 13.71 | 912.59 | -898.88 |
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Drawdowns
VPL vs. MMKT - Drawdown Comparison
The maximum VPL drawdown since its inception was -55.49%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for VPL and MMKT.
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Drawdown Indicators
| VPL | MMKT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -0.04% | -55.45% |
Max Drawdown (1Y)Largest decline over 1 year | -13.33% | -0.02% | -13.31% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.09% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | — | — |
Current DrawdownCurrent decline from peak | -5.86% | 0.00% | -5.86% |
Average DrawdownAverage peak-to-trough decline | -11.61% | -0.00% | -11.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 0.00% | +3.50% |
Volatility
VPL vs. MMKT - Volatility Comparison
Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 11.91% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that VPL's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPL | MMKT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.91% | 0.05% | +11.86% |
Volatility (6M)Calculated over the trailing 6-month period | 19.95% | 0.13% | +19.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.25% | 0.23% | +22.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.93% | 0.23% | +17.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.52% | 0.23% | +17.29% |
VPL vs. MMKT - Expense Ratio Comparison
VPL has a 0.08% expense ratio, which is lower than MMKT's 0.20% 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
VPL vs. MMKT - Dividend Comparison
VPL's dividend yield for the trailing twelve months is around 2.66%, less than MMKT's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMKT Texas Capital Government Money Market ETF | 3.71% | 3.98% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VPL Vanguard FTSE Pacific ETF | 2.66% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
Frequently Asked Questions
VPL and MMKT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPL has higher volatility (11.91%) compared to MMKT (0.05%). In terms of maximum drawdown, VPL dropped -55.49% vs MMKT's -0.04%.
On 1-year performance, VPL leads with 47.86% vs 3.78% for MMKT. On fees, VPL is cheaper at 0.08% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VPL has performed better with a 47.86% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPL is cheaper with a 0.08% expense ratio, compared with 0.20% for MMKT.
MMKT has the higher dividend yield at 3.71%, compared with 2.66% for VPL.
VPL is categorized as Asia Pacific Equities, while MMKT is Money Market. They also come from different issuers: Vanguard and Texas Capital. Their fees differ too: 0.08% for VPL and 0.20% for MMKT.
MMKT currently has the higher Sharpe Ratio (16.75 vs 2.16), 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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