VQNPX vs. VPMAX

Last updated Aug 2, 2026

VQNPX (Vanguard Growth and Income Fund Investor Shares) and VPMAX (Vanguard PRIMECAP Fund Admiral Shares) are both Large Cap Blend Equities funds from Vanguard. Over the past 10 years, VQNPX returned 14.62%/yr vs 16.66%/yr for VPMAX. Their correlation of 0.94 means they have usually moved in the same direction. VQNPX charges 0.39%/yr vs 0.27%/yr for VPMAX.

Performance

VQNPX vs. VPMAX - Performance Comparison

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

Returns By Period

In the year-to-date period, VQNPX achieves a 7.83% return, which is significantly lower than VPMAX's 20.70% return. Over the past 10 years, VQNPX has underperformed VPMAX with an annualized return of 14.62%, while VPMAX has yielded a comparatively higher 16.66% annualized return.

VQNPX

• 1D: 1.98%
• 1M: -0.61%
• 6M: 6.56%
• YTD: 7.83%
• 1Y: 19.25%
• 3Y*: 19.15%
• 5Y*: 12.68%
• 10Y*: 14.62%
• ALL TIME*: 11.13%

VPMAX

• 1D: 2.95%
• 1M: -3.97%
• 6M: 14.66%
• YTD: 20.70%
• 1Y: 47.11%
• 3Y*: 23.43%
• 5Y*: 14.89%
• 10Y*: 16.66%
• ALL TIME*: 12.32%

*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)
VPMAX Vanguard PRIMECAP Fund Admiral Shares	$0.00	$0.00	$0.00
VQNPX Vanguard Growth and Income Fund Investor Shares	$0.00	$0.00	$0.00

VQNPX vs. VPMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VQNPX Vanguard Growth and Income Fund Investor Shares	7.83%	19.13%	25.72%	24.72%	-17.26%	28.74%	17.90%	29.66%	-4.70%	19.82%
VPMAX Vanguard PRIMECAP Fund Admiral Shares	20.70%	29.70%	13.30%	28.25%	-15.16%	21.72%	17.23%	27.88%	-1.93%	28.28%

Correlation

The correlation between VQNPX and VPMAX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.94

The correlation between VQNPX and VPMAX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

VQNPX vs. VPMAX - Sectors Allocation Comparison

Sectors	VQNPX	VPMAX
Technology	30.6%	28.9%
Financial Services	12.5%	7.6%
Consumer Cyclical	11.2%	11.8%
Healthcare	10.6%	25.1%
Communication Services	10.1%	7.7%
Industrials	8.9%	13.2%
Energy	5.8%	1.8%
Consumer Defensive	3.6%	1.1%
Basic Materials	2.9%	1.6%
Utilities	2.4%	0.0%
Real Estate	1.6%	0.1%

Return for Risk

VQNPX vs. VPMAX — Risk / Return Rank

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

VQNPX

VQNPX Risk / Return Rank: 48
VQNPX Sharpe Ratio Rank: 46
VQNPX Sortino Ratio Rank: 44
VQNPX Omega Ratio Rank: 43
VQNPX Calmar Ratio Rank: 48
VQNPX Martin Ratio Rank: 58

VPMAX

VPMAX Risk / Return Rank: 90
VPMAX Sharpe Ratio Rank: 91
VPMAX Sortino Ratio Rank: 87
VPMAX Omega Ratio Rank: 84
VPMAX Calmar Ratio Rank: 93
VPMAX Martin Ratio Rank: 94

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.

VQNPX vs. VPMAX - Risk-Adjusted Trends Comparison

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

	VQNPX	VPMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.29	-1.04
Sortino ratio: Return per unit of downside risk	1.76	3.13	-1.37
Omega ratio: Gain probability vs. loss probability	1.22	1.40	-0.18
Calmar ratio: Return relative to maximum drawdown	1.76	3.73	-1.96
Martin ratio: Return relative to average drawdown	7.40	14.01	-6.61

VQNPX vs. VPMAX - Sharpe Ratio Comparison

The current VQNPX Sharpe Ratio is 1.25, which is lower than the VPMAX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of VQNPX and VPMAX, 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

VQNPX vs. VPMAX - Drawdown Comparison

The maximum VQNPX drawdown since its inception was -55.93%, which is greater than VPMAX's maximum drawdown of -48.32%. Use the drawdown chart below to compare losses from any high point for VQNPX and VPMAX.

Drawdown Indicators

	VQNPX	VPMAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.93%	-48.32%	-7.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-11.72%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-19.68%	-20.55%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-23.36%	-25.21%	+1.85%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-32.65%	-1.68%
Current Drawdown Current decline from peak	-2.34%	-7.53%	+5.19%
Average Drawdown Average peak-to-trough decline	-8.84%	-6.56%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	3.12%	-0.80%

Volatility

VQNPX vs. VPMAX - Volatility Comparison

The current volatility for Vanguard Growth and Income Fund Investor Shares (VQNPX) is 3.89%, while Vanguard PRIMECAP Fund Admiral Shares (VPMAX) has a volatility of 6.29%. This indicates that VQNPX experiences smaller price fluctuations and is considered to be less risky than VPMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VQNPX	VPMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	6.29%	-2.40%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	16.18%	-5.32%
Volatility (1Y) Calculated over the trailing 1-year period	13.80%	19.08%	-5.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	18.81%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.24%	19.39%	-1.15%

VQNPX vs. VPMAX - Expense Ratio Comparison

VQNPX has a 0.39% expense ratio, which is higher than VPMAX's 0.27% expense ratio.

Dividends

VQNPX vs. VPMAX - Dividend Comparison

VQNPX's dividend yield for the trailing twelve months is around 9.92%, less than VPMAX's 13.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VQNPX Vanguard Growth and Income Fund Investor Shares	9.92%	10.60%	11.56%	8.60%	9.69%	15.16%	6.53%	4.09%	7.92%	5.01%	6.90%	7.60%

Frequently Asked Questions

Can I hold both VQNPX and VPMAX in my portfolio?

VQNPX and VPMAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VQNPX or VPMAX?

VPMAX has higher volatility (6.29%) compared to VQNPX (3.89%). In terms of maximum drawdown, VQNPX dropped -55.93% vs VPMAX's -48.32%.

Which has better risk-adjusted returns?

VPMAX currently has the higher Sharpe Ratio (2.29 vs 1.25), 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.