VPMAX vs. POGRX

Last updated Jul 15, 2026

VPMAX (Vanguard PRIMECAP Fund Admiral Shares) and POGRX (PRIMECAP Odyssey Growth Fund) are both Large Cap Blend Equities funds. Over the past 10 years, VPMAX returned 17.23%/yr vs 17.09%/yr for POGRX. With a 0.95 correlation, they move nearly in lockstep. VPMAX charges 0.27%/yr vs 0.66%/yr for POGRX.

Performance

VPMAX vs. POGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard PRIMECAP Fund Admiral Shares (VPMAX) and PRIMECAP Odyssey Growth Fund (POGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPMAX achieves a 23.20% return, which is significantly lower than POGRX's 25.33% return. Both investments have delivered pretty close results over the past 10 years, with VPMAX having a 17.23% annualized return and POGRX not far behind at 17.09%.

VPMAX

• 1D: -1.53%
• 1M: -1.73%
• 6M: 17.63%
• YTD: 23.20%
• 1Y: 46.65%
• 3Y*: 25.29%
• 5Y*: 15.31%
• 10Y*: 17.23%

POGRX

• 1D: -1.62%
• 1M: -0.75%
• 6M: 18.80%
• YTD: 25.33%
• 1Y: 52.37%
• 3Y*: 27.03%
• 5Y*: 15.54%
• 10Y*: 17.09%

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

VPMAX vs. POGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPMAX Vanguard PRIMECAP Fund Admiral Shares	23.20%	29.70%	13.30%	28.25%	-15.16%	21.72%	17.23%	27.88%	-1.93%	28.28%
POGRX PRIMECAP Odyssey Growth Fund	25.33%	32.99%	13.09%	23.85%	-14.61%	18.81%	17.05%	23.98%	-4.56%	32.07%

Correlation

The correlation between VPMAX and POGRX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 3, 2004	0.95

The correlation between VPMAX and POGRX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

VPMAX vs. POGRX — Risk / Return Rank

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

VPMAX

VPMAX Risk / Return Rank: 90
VPMAX Sharpe Ratio Rank: 92
VPMAX Sortino Ratio Rank: 87
VPMAX Omega Ratio Rank: 85
VPMAX Calmar Ratio Rank: 93
VPMAX Martin Ratio Rank: 95

POGRX

POGRX Risk / Return Rank: 90
POGRX Sharpe Ratio Rank: 93
POGRX Sortino Ratio Rank: 87
POGRX Omega Ratio Rank: 85
POGRX Calmar Ratio Rank: 90
POGRX Martin Ratio Rank: 93

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.

VPMAX vs. POGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard PRIMECAP Fund Admiral Shares (VPMAX) and PRIMECAP Odyssey Growth Fund (POGRX). 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.

	VPMAX	POGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.58	-0.04
Sortino ratio: Return per unit of downside risk	3.40	3.43	-0.02
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	4.00	3.66	+0.34
Martin ratio: Return relative to average drawdown	17.35	14.92	+2.43

VPMAX vs. POGRX - Sharpe Ratio Comparison

The current VPMAX Sharpe Ratio is 2.54, which is comparable to the POGRX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of VPMAX and POGRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VPMAX vs. POGRX - Drawdown Comparison

The maximum VPMAX drawdown since its inception was -48.32%, smaller than the maximum POGRX drawdown of -51.63%. Use the drawdown chart below to compare losses from any high point for VPMAX and POGRX.

Drawdown Indicators

	VPMAX	POGRX	Difference
Max Drawdown Largest peak-to-trough decline	-48.32%	-51.63%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.72%	-14.40%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-20.55%	-22.13%	+1.58%
Max Drawdown (5Y) Largest decline over 5 years	-25.21%	-26.85%	+1.64%
Max Drawdown (10Y) Largest decline over 10 years	-32.65%	-35.29%	+2.64%
Current Drawdown Current decline from peak	-5.61%	-6.37%	+0.76%
Average Drawdown Average peak-to-trough decline	-6.56%	-7.11%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	3.52%	-0.82%

Volatility

VPMAX vs. POGRX - Volatility Comparison

The current volatility for Vanguard PRIMECAP Fund Admiral Shares (VPMAX) is 8.53%, while PRIMECAP Odyssey Growth Fund (POGRX) has a volatility of 9.10%. This indicates that VPMAX experiences smaller price fluctuations and is considered to be less risky than POGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPMAX	POGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.53%	9.10%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	15.71%	17.39%	-1.68%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	20.45%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	20.09%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	20.59%	-1.26%

VPMAX vs. POGRX - Expense Ratio Comparison

VPMAX has a 0.27% expense ratio, which is lower than POGRX's 0.66% expense ratio.

Dividends

VPMAX vs. POGRX - Dividend Comparison

VPMAX's dividend yield for the trailing twelve months is around 13.36%, less than POGRX's 19.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POGRX PRIMECAP Odyssey Growth Fund	19.86%	24.89%	20.79%	13.28%	12.36%	13.68%	12.50%	5.13%	2.45%	1.54%	5.83%	1.29%
VPMAX Vanguard PRIMECAP Fund Admiral Shares	13.36%	16.46%	6.71%	7.24%	9.94%	10.18%	9.82%	7.23%	8.43%	4.52%	5.13%	5.99%

Frequently Asked Questions

Can I hold both VPMAX and POGRX in my portfolio?

With a correlation of 0.95, VPMAX and POGRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VPMAX or POGRX?

POGRX has higher volatility (9.10%) compared to VPMAX (8.53%). In terms of maximum drawdown, VPMAX dropped -48.32% vs POGRX's -51.63%.

Which has better risk-adjusted returns?

POGRX currently has the higher Sharpe Ratio (2.58 vs 2.54), 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.