VRGWX vs. VONE

Last updated Jun 24, 2026

VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) and VONE (Vanguard Russell 1000 ETF) are both funds - VRGWX is a Large Cap Growth Equities fund managed by Vanguard, while VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Over the past 10 years, VRGWX returned 19.03%/yr vs 15.31%/yr for VONE. Their correlation of 0.94 suggests significant overlap in exposure. VRGWX charges 0.07%/yr vs 0.08%/yr for VONE.

Performance

VRGWX vs. VONE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) and Vanguard Russell 1000 ETF (VONE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRGWX achieves a 3.17% return, which is significantly lower than VONE's 8.02% return. Over the past 10 years, VRGWX has outperformed VONE with an annualized return of 19.03%, while VONE has yielded a comparatively lower 15.31% annualized return.

VRGWX

• 1D: -1.27%
• 1M: -2.48%
• YTD: 3.17%
• 6M: 1.85%
• 1Y: 19.93%
• 3Y*: 22.50%
• 5Y*: 14.38%
• 10Y*: 19.03%

VONE

• 1D: -1.33%
• 1M: -1.03%
• YTD: 8.02%
• 6M: 7.05%
• 1Y: 23.07%
• 3Y*: 20.55%
• 5Y*: 12.28%
• 10Y*: 15.31%

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

VRGWX vs. VONE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	3.17%	18.32%	33.25%	42.65%	-29.18%	32.42%	38.38%	36.30%	-1.59%	30.11%
VONE Vanguard Russell 1000 ETF	8.02%	17.21%	24.51%	26.41%	-19.14%	26.49%	20.95%	31.12%	-4.84%	21.55%

Correlation

The correlation between VRGWX and VONE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.94

The correlation between VRGWX and VONE has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

VRGWX vs. VONE — Risk / Return Rank

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

VRGWX

VRGWX Risk / Return Rank: 21
VRGWX Sharpe Ratio Rank: 24
VRGWX Sortino Ratio Rank: 22
VRGWX Omega Ratio Rank: 23
VRGWX Calmar Ratio Rank: 16
VRGWX Martin Ratio Rank: 18

VONE

VONE Risk / Return Rank: 58
VONE Sharpe Ratio Rank: 57
VONE Sortino Ratio Rank: 55
VONE Omega Ratio Rank: 55
VONE Calmar Ratio Rank: 55
VONE Martin Ratio Rank: 66

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.

VRGWX vs. VONE - 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 Russell 1000 ETF (VONE). 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	VONE	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.85	-0.53
Sortino ratio: Return per unit of downside risk	1.83	2.54	-0.71
Omega ratio: Gain probability vs. loss probability	1.23	1.33	-0.10
Calmar ratio: Return relative to maximum drawdown	1.32	2.62	-1.30
Martin ratio: Return relative to average drawdown	4.32	11.65	-7.33

VRGWX vs. VONE - Sharpe Ratio Comparison

The current VRGWX Sharpe Ratio is 1.32, which is comparable to the VONE Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of VRGWX and VONE, 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

VRGWX vs. VONE - Drawdown Comparison

The maximum VRGWX drawdown since its inception was -32.70%, smaller than the maximum VONE drawdown of -34.66%. Use the drawdown chart below to compare losses from any high point for VRGWX and VONE.

Drawdown Indicators

	VRGWX	VONE	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-34.66%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-8.85%	-7.34%
Max Drawdown (3Y) Largest decline over 3 years	-23.44%	-19.06%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	-32.70%	-25.12%	-7.58%
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	-34.66%	+1.96%
Current Drawdown Current decline from peak	-5.34%	-2.98%	-2.36%
Average Drawdown Average peak-to-trough decline	-4.87%	-3.90%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	1.99%	+2.94%

Volatility

VRGWX vs. VONE - Volatility Comparison

Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) has a higher volatility of 5.95% compared to Vanguard Russell 1000 ETF (VONE) at 4.71%. This indicates that VRGWX's price experiences larger fluctuations and is considered to be riskier than VONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRGWX	VONE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	4.71%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	12.63%	9.84%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	16.22%	12.58%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.74%	17.17%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.23%	18.26%	+2.97%

VRGWX vs. VONE - Expense Ratio Comparison

VRGWX has a 0.07% expense ratio, which is lower than VONE's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VRGWX vs. VONE - Dividend Comparison

VRGWX's dividend yield for the trailing twelve months is around 0.47%, less than VONE's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VONE Vanguard Russell 1000 ETF	1.04%	1.07%	1.20%	1.40%	1.59%	1.16%	1.45%	1.65%	1.96%	1.69%	1.89%	1.89%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	0.47%	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

Can I hold both VRGWX and VONE in my portfolio?

With a correlation of 0.92, VRGWX and VONE 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, VRGWX or VONE?

VRGWX has higher volatility (5.95%) compared to VONE (4.71%). In terms of maximum drawdown, VRGWX dropped -32.70% vs VONE's -34.66%.

Which has better risk-adjusted returns?

VONE currently has the higher Sharpe Ratio (1.85 vs 1.32), 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.