VRGWX vs. VMGAX
VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) and VMGAX (Vanguard Mega Cap Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds from Vanguard - VRGWX tracks the Russell 1000 Growth Index while VMGAX tracks the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, VRGWX returned 17.69%/yr vs 18.05%/yr for VMGAX. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.
Performance
VRGWX vs. VMGAX - Performance Comparison
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Returns By Period
In the year-to-date period, VRGWX achieves a -0.51% return, which is significantly lower than VMGAX's 3.59% return. Both investments have delivered pretty close results over the past 10 years, with VRGWX having a 17.69% annualized return and VMGAX not far ahead at 18.05%.
VRGWX
- 1D
- 2.96%
- 1M
- -3.22%
- 6M
- 1.02%
- YTD
- -0.51%
- 1Y
- 9.23%
- 3Y*
- 18.85%
- 5Y*
- 12.46%
- 10Y*
- 17.69%
- ALL TIME*
- 16.56%
VMGAX
- 1D
- 2.74%
- 1M
- -2.05%
- 6M
- 5.39%
- YTD
- 3.59%
- 1Y
- 15.11%
- 3Y*
- 21.22%
- 5Y*
- 12.81%
- 10Y*
- 18.05%
- ALL TIME*
- 13.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VRGWX vs. VMGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares | -0.51% | 18.32% | 33.25% | 42.65% | -29.18% | 32.42% | 38.38% | 36.30% | -1.59% | 30.11% |
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 3.59% | 20.73% | 32.98% | 51.57% | -33.55% | 28.50% | 41.02% | 37.54% | -2.86% | 29.49% |
Correlation
The correlation between VRGWX and VMGAX is 0.99 - 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. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.99 |
The correlation between VRGWX and VMGAX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
VRGWX vs. VMGAX — Risk / Return Rank
VRGWX
VMGAX
VRGWX vs. VMGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) and Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX). 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.
| VRGWX | VMGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.13 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.76 | -0.31 |
| Martin ratioReturn relative to average drawdown | 1.34 | 2.39 | -1.05 |
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Drawdowns
VRGWX vs. VMGAX - Drawdown Comparison
The maximum VRGWX drawdown since its inception was -32.70%, smaller than the maximum VMGAX drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for VRGWX and VMGAX.
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Drawdown Indicators
| VRGWX | VMGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -47.97% | +15.27% |
Max Drawdown (1Y)Largest decline over 1 year | -16.19% | -16.78% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.44% | -23.45% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -32.70% | -36.03% | +3.33% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -36.03% | +3.33% |
Current DrawdownCurrent decline from peak | -8.72% | -7.18% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -7.42% | +2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.38% | 5.33% | +0.05% |
Volatility
VRGWX vs. VMGAX - Volatility Comparison
Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) has a higher volatility of 6.40% compared to Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) at 5.69%. This indicates that VRGWX's price experiences larger fluctuations and is considered to be riskier than VMGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRGWX | VMGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | 5.69% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 14.06% | 14.67% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.50% | 18.22% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.94% | 23.00% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.29% | 22.02% | -0.73% |
VRGWX vs. VMGAX - Expense Ratio Comparison
Both VRGWX and VMGAX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VRGWX vs. VMGAX - Dividend Comparison
VRGWX's dividend yield for the trailing twelve months is around 0.49%, more than VMGAX's 0.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 0.35% | 0.36% | 0.44% | 0.51% | 0.71% | 0.42% | 0.65% | 0.86% | 1.13% | 1.23% | 1.53% | 1.44% |
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares | 0.49% | 0.35% | 0.56% | 0.71% | 0.99% | 4.18% | 0.77% | 1.03% | 1.22% | 1.22% | 1.52% | 1.51% |
Frequently Asked Questions
With a correlation of 0.99, VRGWX and VMGAX 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.
VRGWX has higher volatility (6.40%) compared to VMGAX (5.69%). In terms of maximum drawdown, VRGWX dropped -32.70% vs VMGAX's -47.97%.
VMGAX currently has the higher Sharpe Ratio (0.70 vs 0.41), 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.
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