VPMCX vs. SPY
Compare and contrast key facts about Vanguard PRIMECAP Fund Investor Shares (VPMCX) and State Street SPDR S&P 500 ETF (SPY).
VPMCX is managed by Vanguard. It was launched on Nov 1, 1984. 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
VPMCX vs. SPY - Performance Comparison
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VPMCX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPMCX Vanguard PRIMECAP Fund Investor Shares | -2.77% | 29.60% | 13.23% | 28.16% | -15.22% | 21.64% | 17.16% | 27.78% | -1.99% | 28.17% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 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, VPMCX achieves a -2.77% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, VPMCX has outperformed SPY with an annualized return of 14.83%, while SPY has yielded a comparatively lower 14.06% annualized return.
VPMCX
- 1D
- 3.30%
- 1M
- -6.81%
- YTD
- -2.77%
- 6M
- 4.59%
- 1Y
- 27.81%
- 3Y*
- 19.58%
- 5Y*
- 11.12%
- 10Y*
- 14.83%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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VPMCX vs. SPY - Expense Ratio Comparison
VPMCX has a 0.38% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
VPMCX vs. SPY — Risk / Return Rank
VPMCX
SPY
VPMCX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard PRIMECAP Fund Investor Shares (VPMCX) 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.
| VPMCX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 0.96 | +0.37 |
Sortino ratioReturn per unit of downside risk | 1.91 | 1.49 | +0.42 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.23 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.53 | +0.48 |
Martin ratioReturn relative to average drawdown | 8.61 | 7.27 | +1.34 |
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
| VPMCX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.96 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.70 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.79 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.56 | +0.21 |
Correlation
The correlation between VPMCX 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
VPMCX vs. SPY - Dividend Comparison
VPMCX's dividend yield for the trailing twelve months is around 16.82%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VPMCX Vanguard PRIMECAP Fund Investor Shares | 16.82% | 16.36% | 6.62% | 7.16% | 9.85% | 10.08% | 9.74% | 7.15% | 8.32% | 4.53% | 5.05% | 5.91% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
VPMCX vs. SPY - Drawdown Comparison
The maximum VPMCX drawdown since its inception was -50.45%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VPMCX and SPY.
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Drawdown Indicators
| VPMCX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.45% | -55.19% | +4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -12.05% | -1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -25.25% | -24.50% | -0.75% |
Max Drawdown (10Y)Largest decline over 10 years | -32.65% | -33.72% | +1.07% |
Current DrawdownCurrent decline from peak | -8.82% | -5.53% | -3.29% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -9.09% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 2.54% | +0.67% |
Volatility
VPMCX vs. SPY - Volatility Comparison
Vanguard PRIMECAP Fund Investor Shares (VPMCX) has a higher volatility of 6.72% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that VPMCX's price experiences larger fluctuations and is considered to be riskier 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
| VPMCX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.72% | 5.35% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 9.50% | +2.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.76% | 19.06% | +1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.01% | 17.06% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.06% | 17.92% | +1.14% |