VRNIX vs. AUEIX

Last updated Aug 4, 2026

VRNIX (Vanguard Russell 1000 Index Fund Institutional Shares) and AUEIX (AQR Large Cap Defensive Style Fund) are both Large Cap Blend Equities funds. Over the past 10 years, VRNIX returned 15.02%/yr vs 10.80%/yr for AUEIX. Their correlation of 0.89 means they have usually moved in the same direction. VRNIX charges 0.07%/yr vs 0.37%/yr for AUEIX.

Performance

VRNIX vs. AUEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and AQR Large Cap Defensive Style Fund (AUEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRNIX achieves a 9.91% return, which is significantly higher than AUEIX's 8.16% return. Over the past 10 years, VRNIX has outperformed AUEIX with an annualized return of 15.02%, while AUEIX has yielded a comparatively lower 10.80% annualized return.

VRNIX

• 1D: 0.62%
• 1M: -0.13%
• 6M: 7.84%
• YTD: 9.91%
• 1Y: 20.86%
• 3Y*: 18.92%
• 5Y*: 12.38%
• 10Y*: 15.02%
• ALL TIME*: 14.57%

AUEIX

• 1D: 0.32%
• 1M: 1.60%
• 6M: 4.60%
• YTD: 8.16%
• 1Y: 10.60%
• 3Y*: 10.89%
• 5Y*: 5.99%
• 10Y*: 10.80%
• ALL TIME*: 12.11%

*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)
AUEIX AQR Large Cap Defensive Style Fund	$0.00	$0.00	$0.00
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	$0.00	$0.00	$0.00

VRNIX vs. AUEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	9.91%	16.94%	24.44%	26.49%	-19.19%	28.64%	20.90%	31.36%	-4.84%	21.58%
AUEIX AQR Large Cap Defensive Style Fund	8.16%	6.95%	13.85%	9.49%	-13.81%	23.52%	13.10%	28.63%	-0.27%	22.14%

Correlation

The correlation between VRNIX and AUEIX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jul 9, 2012	0.89

Over the past year, the correlation between VRNIX and AUEIX has dropped to 0.65 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

VRNIX vs. AUEIX — Risk / Return Rank

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

VRNIX

VRNIX Risk / Return Rank: 55
VRNIX Sharpe Ratio Rank: 51
VRNIX Sortino Ratio Rank: 48
VRNIX Omega Ratio Rank: 47
VRNIX Calmar Ratio Rank: 57
VRNIX Martin Ratio Rank: 70

AUEIX

AUEIX Risk / Return Rank: 34
AUEIX Sharpe Ratio Rank: 35
AUEIX Sortino Ratio Rank: 34
AUEIX Omega Ratio Rank: 33
AUEIX Calmar Ratio Rank: 36
AUEIX Martin Ratio Rank: 34

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.

VRNIX vs. AUEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and AQR Large Cap Defensive Style Fund (AUEIX). 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.

	VRNIX	AUEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.18	+0.29
Sortino ratio: Return per unit of downside risk	2.05	1.70	+0.35
Omega ratio: Gain probability vs. loss probability	1.26	1.21	+0.05
Calmar ratio: Return relative to maximum drawdown	2.14	1.63	+0.51
Martin ratio: Return relative to average drawdown	9.23	5.41	+3.82

VRNIX vs. AUEIX - Sharpe Ratio Comparison

The current VRNIX Sharpe Ratio is 1.47, which is comparable to the AUEIX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of VRNIX and AUEIX, 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

VRNIX vs. AUEIX - Drawdown Comparison

The maximum VRNIX drawdown since its inception was -34.57%, which is greater than AUEIX's maximum drawdown of -30.82%. Use the drawdown chart below to compare losses from any high point for VRNIX and AUEIX.

Drawdown Indicators

	VRNIX	AUEIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.57%	-30.82%	-3.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-5.91%	-2.94%
Max Drawdown (3Y) Largest decline over 3 years	-19.40%	-10.27%	-9.13%
Max Drawdown (5Y) Largest decline over 5 years	-25.14%	-22.08%	-3.06%
Max Drawdown (10Y) Largest decline over 10 years	-34.57%	-30.82%	-3.75%
Current Drawdown Current decline from peak	-1.31%	0.00%	-1.31%
Average Drawdown Average peak-to-trough decline	-3.88%	-3.39%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.78%	+0.28%

Volatility

VRNIX vs. AUEIX - Volatility Comparison

Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) has a higher volatility of 3.47% compared to AQR Large Cap Defensive Style Fund (AUEIX) at 1.83%. This indicates that VRNIX's price experiences larger fluctuations and is considered to be riskier than AUEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRNIX	AUEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	1.83%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	10.13%	6.22%	+3.91%
Volatility (1Y) Calculated over the trailing 1-year period	12.93%	8.22%	+4.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	13.00%	+4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	15.17%	+3.10%

VRNIX vs. AUEIX - Expense Ratio Comparison

VRNIX has a 0.07% expense ratio, which is lower than AUEIX's 0.37% expense ratio.

Dividends

VRNIX vs. AUEIX - Dividend Comparison

VRNIX's dividend yield for the trailing twelve months is around 1.03%, less than AUEIX's 20.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUEIX AQR Large Cap Defensive Style Fund	20.99%	22.70%	24.31%	24.28%	10.26%	2.54%	1.29%	1.12%	1.67%	2.36%	1.99%	6.18%
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	1.03%	0.82%	1.21%	1.41%	1.59%	2.86%	1.46%	1.65%	2.00%	1.73%	1.93%	1.92%

Frequently Asked Questions

Can I hold both VRNIX and AUEIX in my portfolio?

VRNIX and AUEIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRNIX or AUEIX?

VRNIX has higher volatility (3.47%) compared to AUEIX (1.83%). In terms of maximum drawdown, VRNIX dropped -34.57% vs AUEIX's -30.82%.

Which has better risk-adjusted returns?

VRNIX currently has the higher Sharpe Ratio (1.47 vs 1.18), 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.