VRNIX vs. FLVCX

Last updated Jun 25, 2026

VRNIX (Vanguard Russell 1000 Index Fund Institutional Shares) and FLVCX (Fidelity Leveraged Company Stock Fund) are both Large Cap Blend Equities funds. Over the past 10 years, VRNIX returned 15.50%/yr vs 16.00%/yr for FLVCX. Their correlation of 0.93 suggests significant overlap in exposure. VRNIX charges 0.07%/yr vs 0.74%/yr for FLVCX.

Performance

VRNIX vs. FLVCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and Fidelity Leveraged Company Stock Fund (FLVCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRNIX achieves a 8.07% return, which is significantly lower than FLVCX's 21.32% return. Both investments have delivered pretty close results over the past 10 years, with VRNIX having a 15.50% annualized return and FLVCX not far ahead at 16.00%.

VRNIX

• 1D: -1.34%
• 1M: -1.06%
• YTD: 8.07%
• 6M: 6.69%
• 1Y: 21.68%
• 3Y*: 20.46%
• 5Y*: 12.62%
• 10Y*: 15.50%

FLVCX

• 1D: -4.46%
• 1M: 4.39%
• YTD: 21.32%
• 6M: 19.42%
• 1Y: 35.35%
• 3Y*: 27.83%
• 5Y*: 14.07%
• 10Y*: 16.00%

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

VRNIX vs. FLVCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	8.07%	16.94%	24.44%	26.49%	-19.19%	28.64%	20.90%	31.36%	-4.84%	21.58%
FLVCX Fidelity Leveraged Company Stock Fund	21.32%	20.34%	26.95%	26.10%	-22.99%	26.08%	26.74%	35.60%	-16.43%	20.92%

Correlation

The correlation between VRNIX and FLVCX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.93

The correlation between VRNIX and FLVCX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

VRNIX vs. FLVCX — Risk / Return Rank

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

VRNIX

VRNIX Risk / Return Rank: 51
VRNIX Sharpe Ratio Rank: 47
VRNIX Sortino Ratio Rank: 44
VRNIX Omega Ratio Rank: 45
VRNIX Calmar Ratio Rank: 53
VRNIX Martin Ratio Rank: 65

FLVCX

FLVCX Risk / Return Rank: 47
FLVCX Sharpe Ratio Rank: 40
FLVCX Sortino Ratio Rank: 34
FLVCX Omega Ratio Rank: 37
FLVCX Calmar Ratio Rank: 66
FLVCX Martin Ratio Rank: 57

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.

VRNIX vs. FLVCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and Fidelity Leveraged Company Stock Fund (FLVCX). 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	FLVCX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.70	+0.14
Sortino ratio: Return per unit of downside risk	2.51	2.24	+0.28
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio: Return relative to maximum drawdown	2.62	2.95	-0.33
Martin ratio: Return relative to average drawdown	11.67	10.68	+0.99

VRNIX vs. FLVCX - Sharpe Ratio Comparison

The current VRNIX Sharpe Ratio is 1.83, which is comparable to the FLVCX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of VRNIX and FLVCX, 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. FLVCX - Drawdown Comparison

The maximum VRNIX drawdown since its inception was -34.57%, smaller than the maximum FLVCX drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for VRNIX and FLVCX.

Drawdown Indicators

	VRNIX	FLVCX	Difference
Max Drawdown Largest peak-to-trough decline	-34.57%	-70.02%	+35.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-13.06%	+4.21%
Max Drawdown (3Y) Largest decline over 3 years	-19.40%	-28.54%	+9.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.14%	-28.54%	+3.40%
Max Drawdown (10Y) Largest decline over 10 years	-34.57%	-44.14%	+9.57%
Current Drawdown Current decline from peak	-2.96%	-4.46%	+1.50%
Average Drawdown Average peak-to-trough decline	-3.89%	-10.98%	+7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	3.60%	-1.62%

Volatility

VRNIX vs. FLVCX - Volatility Comparison

The current volatility for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) is 4.88%, while Fidelity Leveraged Company Stock Fund (FLVCX) has a volatility of 10.37%. This indicates that VRNIX experiences smaller price fluctuations and is considered to be less risky than FLVCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRNIX	FLVCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	10.37%	-5.49%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	18.59%	-8.63%
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	22.72%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	23.16%	-5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	23.49%	-5.20%

VRNIX vs. FLVCX - Expense Ratio Comparison

VRNIX has a 0.07% expense ratio, which is lower than FLVCX's 0.74% expense ratio.

Dividends

VRNIX vs. FLVCX - Dividend Comparison

VRNIX's dividend yield for the trailing twelve months is around 1.05%, less than FLVCX's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLVCX Fidelity Leveraged Company Stock Fund	3.89%	4.72%	14.53%	12.19%	18.49%	8.40%	0.11%	0.10%	19.91%	18.96%	27.48%	6.18%
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares	1.05%	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 FLVCX in my portfolio?

VRNIX and FLVCX 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, VRNIX or FLVCX?

FLVCX has higher volatility (10.37%) compared to VRNIX (4.88%). In terms of maximum drawdown, VRNIX dropped -34.57% vs FLVCX's -70.02%.

Which has better risk-adjusted returns?

VRNIX currently has the higher Sharpe Ratio (1.83 vs 1.70), 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.