VPMAX vs. VPCCX

Last updated Aug 4, 2026

VPMAX (Vanguard PRIMECAP Fund Admiral Shares) and VPCCX (Vanguard PRIMECAP Core Fund) are both Large Cap Blend Equities funds from Vanguard. Over the past 10 years, VPMAX returned 16.71%/yr vs 16.23%/yr for VPCCX. Their 0.98 correlation means they have historically moved very closely together. VPMAX charges 0.27%/yr vs 0.37%/yr for VPCCX.

Performance

VPMAX vs. VPCCX - Performance Comparison

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

Returns By Period

In the year-to-date period, VPMAX achieves a 20.78% return, which is significantly lower than VPCCX's 24.41% return. Both investments have delivered pretty close results over the past 10 years, with VPMAX having a 16.71% annualized return and VPCCX not far behind at 16.23%.

VPMAX

• 1D: 0.07%
• 1M: -3.91%
• 6M: 13.42%
• YTD: 20.78%
• 1Y: 47.21%
• 3Y*: 23.69%
• 5Y*: 14.91%
• 10Y*: 16.71%
• ALL TIME*: 12.32%

VPCCX

• 1D: -0.04%
• 1M: -4.00%
• 6M: 15.03%
• YTD: 24.41%
• 1Y: 49.98%
• 3Y*: 24.81%
• 5Y*: 15.40%
• 10Y*: 16.23%
• ALL TIME*: 12.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VPCCX Vanguard PRIMECAP Core Fund	$0.00	$0.00	$0.00
VPMAX Vanguard PRIMECAP Fund Admiral Shares	$0.00	$0.00	$0.00

VPMAX vs. VPCCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPMAX Vanguard PRIMECAP Fund Admiral Shares	20.78%	29.70%	13.30%	28.25%	-15.16%	21.72%	17.23%	27.88%	-1.93%	28.28%
VPCCX Vanguard PRIMECAP Core Fund	24.41%	29.96%	12.72%	23.58%	-12.43%	24.30%	12.04%	27.70%	-4.89%	26.27%

Correlation

The correlation between VPMAX and VPCCX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Dec 9, 2004	0.98

The correlation between VPMAX and VPCCX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

VPMAX vs. VPCCX - Sectors Allocation Comparison

Sectors	VPMAX	VPCCX
Technology	28.9%	39.9%
Healthcare	25.1%	17.9%
Industrials	13.2%	14.3%
Consumer Cyclical	11.8%	5.5%
Communication Services	7.7%	4.7%
Financial Services	7.6%	9.1%
Energy	1.8%	2.3%
Basic Materials	1.6%	1.4%
Consumer Defensive	1.1%	1.7%
Real Estate	0.1%	-
Utilities	0.0%	0.1%

Return for Risk

VPMAX vs. VPCCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VPMAX

VPMAX Risk / Return Rank: 90
VPMAX Sharpe Ratio Rank: 93
VPMAX Sortino Ratio Rank: 88
VPMAX Omega Ratio Rank: 85
VPMAX Calmar Ratio Rank: 93
VPMAX Martin Ratio Rank: 93

VPCCX

VPCCX Risk / Return Rank: 93
VPCCX Sharpe Ratio Rank: 95
VPCCX Sortino Ratio Rank: 91
VPCCX Omega Ratio Rank: 87
VPCCX Calmar Ratio Rank: 96
VPCCX Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VPMAX vs. VPCCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard PRIMECAP Fund Admiral Shares (VPMAX) and Vanguard PRIMECAP Core Fund (VPCCX). 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	VPCCX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.54	-0.14
Sortino ratio: Return per unit of downside risk	3.26	3.47	-0.20
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	3.90	4.62	-0.72
Martin ratio: Return relative to average drawdown	14.50	16.28	-1.78

VPMAX vs. VPCCX - Sharpe Ratio Comparison

The current VPMAX Sharpe Ratio is 2.40, which is comparable to the VPCCX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of VPMAX and VPCCX, 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. VPCCX - Drawdown Comparison

The maximum VPMAX drawdown since its inception was -48.32%, roughly equal to the maximum VPCCX drawdown of -47.53%. Use the drawdown chart below to compare losses from any high point for VPMAX and VPCCX.

Drawdown Indicators

	VPMAX	VPCCX	Difference
Max Drawdown Largest peak-to-trough decline	-48.32%	-47.53%	-0.79%
Max Drawdown (1Y) Largest decline over 1 year	-11.72%	-10.50%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-20.55%	-19.92%	-0.63%
Max Drawdown (5Y) Largest decline over 5 years	-25.21%	-22.75%	-2.46%
Max Drawdown (10Y) Largest decline over 10 years	-32.65%	-34.60%	+1.95%
Current Drawdown Current decline from peak	-7.47%	-7.86%	+0.39%
Average Drawdown Average peak-to-trough decline	-6.56%	-5.73%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.97%	+0.17%

Volatility

VPMAX vs. VPCCX - Volatility Comparison

Vanguard PRIMECAP Fund Admiral Shares (VPMAX) and Vanguard PRIMECAP Core Fund (VPCCX) have volatilities of 5.79% and 6.04%, 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

	VPMAX	VPCCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	6.04%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	16.18%	16.21%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	19.14%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.80%	18.15%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.39%	18.94%	+0.45%

VPMAX vs. VPCCX - Expense Ratio Comparison

VPMAX has a 0.27% expense ratio, which is lower than VPCCX's 0.37% expense ratio.

Dividends

VPMAX vs. VPCCX - Dividend Comparison

VPMAX's dividend yield for the trailing twelve months is around 13.63%, less than VPCCX's 13.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VPCCX Vanguard PRIMECAP Core Fund	13.87%	17.25%	7.17%	5.73%	8.40%	6.89%	7.89%	6.99%	9.45%	4.10%	5.52%	4.96%
VPMAX Vanguard PRIMECAP Fund Admiral Shares	13.63%	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 VPCCX in my portfolio?

With a correlation of 0.98, VPMAX and VPCCX 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 VPCCX?

VPCCX has higher volatility (6.04%) compared to VPMAX (5.79%). In terms of maximum drawdown, VPMAX dropped -48.32% vs VPCCX's -47.53%.

Which has better risk-adjusted returns?

VPCCX currently has the higher Sharpe Ratio (2.54 vs 2.40), 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.