VPMCX vs. VPCCX

Last updated Jun 25, 2026

VPMCX (Vanguard PRIMECAP Fund Investor Shares) and VPCCX (Vanguard PRIMECAP Core Fund) are both mutual funds - VPMCX is a Large Cap Growth Equities fund actively managed by Vanguard, while VPCCX is a Large Cap Blend Equities fund actively managed by Vanguard. Both are actively managed. Over the past 10 years, VPMCX returned 18.18%/yr vs 17.73%/yr for VPCCX. With a 0.98 correlation, they move nearly in lockstep. VPMCX charges 0.35%/yr vs 0.37%/yr for VPCCX.

Performance

VPMCX vs. VPCCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard PRIMECAP Fund Investor Shares (VPMCX) 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, VPMCX achieves a 25.39% return, which is significantly lower than VPCCX's 30.27% return. Both investments have delivered pretty close results over the past 10 years, with VPMCX having a 18.18% annualized return and VPCCX not far behind at 17.73%.

VPMCX

• 1D: -3.36%
• 1M: 4.54%
• YTD: 25.39%
• 6M: 23.93%
• 1Y: 53.83%
• 3Y*: 27.19%
• 5Y*: 15.71%
• 10Y*: 18.18%

VPCCX

• 1D: -2.74%
• 1M: 5.51%
• YTD: 30.27%
• 6M: 28.54%
• 1Y: 58.76%
• 3Y*: 28.79%
• 5Y*: 16.62%
• 10Y*: 17.73%

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

VPMCX vs. VPCCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPMCX Vanguard PRIMECAP Fund Investor Shares	25.39%	29.60%	13.23%	28.16%	-15.22%	21.64%	17.16%	27.78%	-1.99%	28.17%
VPCCX Vanguard PRIMECAP Core Fund	30.27%	29.96%	12.72%	23.58%	-12.43%	24.30%	12.04%	27.70%	-4.89%	26.27%

Correlation

The correlation between VPMCX and VPCCX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 9, 2004	0.98

The correlation between VPMCX and VPCCX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

VPMCX vs. VPCCX - Sectors Allocation Comparison

Sectors	VPMCX	VPCCX
Technology	28.9%	28.0%
Healthcare	25.1%	22.0%
Industrials	13.2%	15.6%
Consumer Cyclical	11.8%	7.5%
Communication Services	7.7%	5.8%
Financial Services	7.6%	10.8%
Energy	1.8%	3.7%
Basic Materials	1.6%	2.2%
Consumer Defensive	1.1%	2.1%
Real Estate	0.1%	-
Utilities	0.0%	0.1%

Return for Risk

VPMCX vs. VPCCX — Risk / Return Rank

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

VPMCX

VPMCX Risk / Return Rank: 92
VPMCX Sharpe Ratio Rank: 96
VPMCX Sortino Ratio Rank: 91
VPMCX Omega Ratio Rank: 87
VPMCX Calmar Ratio Rank: 93
VPMCX Martin Ratio Rank: 96

VPCCX

VPCCX Risk / Return Rank: 95
VPCCX Sharpe Ratio Rank: 97
VPCCX Sortino Ratio Rank: 94
VPCCX Omega Ratio Rank: 90
VPCCX Calmar Ratio Rank: 96
VPCCX Martin Ratio Rank: 97

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.

VPMCX vs. VPCCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard PRIMECAP Fund Investor Shares (VPMCX) 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.

	VPMCX	VPCCX	Difference
Sharpe ratio: Return per unit of total volatility	3.15	3.43	-0.28
Sortino ratio: Return per unit of downside risk	4.12	4.51	-0.39
Omega ratio: Gain probability vs. loss probability	1.56	1.61	-0.04
Calmar ratio: Return relative to maximum drawdown	4.80	5.96	-1.15
Martin ratio: Return relative to average drawdown	21.75	26.62	-4.87

VPMCX vs. VPCCX - Sharpe Ratio Comparison

The current VPMCX Sharpe Ratio is 3.15, which is comparable to the VPCCX Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of VPMCX 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

VPMCX vs. VPCCX - Drawdown Comparison

The maximum VPMCX drawdown since its inception was -50.45%, which is greater than VPCCX's maximum drawdown of -47.53%. Use the drawdown chart below to compare losses from any high point for VPMCX and VPCCX.

Drawdown Indicators

	VPMCX	VPCCX	Difference
Max Drawdown Largest peak-to-trough decline	-50.45%	-47.53%	-2.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-10.29%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	-20.56%	-19.92%	-0.64%
Max Drawdown (5Y) Largest decline over 5 years	-25.25%	-22.75%	-2.50%
Max Drawdown (10Y) Largest decline over 10 years	-32.65%	-34.60%	+1.95%
Current Drawdown Current decline from peak	-3.36%	-2.74%	-0.62%
Average Drawdown Average peak-to-trough decline	-7.40%	-5.73%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.30%	+0.29%

Volatility

VPMCX vs. VPCCX - Volatility Comparison

Vanguard PRIMECAP Fund Investor Shares (VPMCX) has a higher volatility of 9.16% compared to Vanguard PRIMECAP Core Fund (VPCCX) at 8.33%. This indicates that VPMCX's price experiences larger fluctuations and is considered to be riskier than VPCCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPMCX	VPCCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.16%	8.33%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	15.11%	14.97%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	17.87%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.61%	17.94%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	18.86%	+0.46%

VPMCX vs. VPCCX - Expense Ratio Comparison

VPMCX has a 0.35% expense ratio, which is lower than VPCCX's 0.37% expense ratio.

Dividends

VPMCX vs. VPCCX - Dividend Comparison

VPMCX's dividend yield for the trailing twelve months is around 13.04%, less than VPCCX's 13.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VPCCX Vanguard PRIMECAP Core Fund	13.24%	17.25%	7.17%	5.73%	8.40%	6.89%	7.89%	6.99%	9.45%	4.10%	5.52%	4.96%
VPMCX Vanguard PRIMECAP Fund Investor Shares	13.04%	16.36%	6.62%	7.16%	9.85%	10.08%	9.74%	7.15%	8.32%	4.53%	5.05%	5.91%

Frequently Asked Questions

Can I hold both VPMCX and VPCCX in my portfolio?

With a correlation of 0.97, VPMCX 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, VPMCX or VPCCX?

VPMCX has higher volatility (9.16%) compared to VPCCX (8.33%). In terms of maximum drawdown, VPMCX dropped -50.45% vs VPCCX's -47.53%.

Which has better risk-adjusted returns?

VPCCX currently has the higher Sharpe Ratio (3.43 vs 3.15), 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.