VRNIX vs. SMH
VRNIX (Vanguard Russell 1000 Index Fund Institutional Shares) and SMH (VanEck Semiconductor ETF) are both funds - VRNIX is a Large Cap Blend Equities fund managed by Vanguard, while SMH is a Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, VRNIX returned 15.02%/yr vs 33.99%/yr for SMH. Their 0.77 correlation means they have sometimes moved together and sometimes differently. VRNIX charges 0.07%/yr vs 0.35%/yr for SMH.
Performance
VRNIX vs. SMH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VRNIX achieves a 9.91% return, which is significantly lower than SMH's 51.46% return. Over the past 10 years, VRNIX has underperformed SMH with an annualized return of 15.02%, while SMH has yielded a comparatively higher 33.99% 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%
SMH
- 1D
- 0.91%
- 1M
- -7.91%
- 6M
- 33.70%
- YTD
- 51.46%
- 1Y
- 92.69%
- 3Y*
- 53.04%
- 5Y*
- 32.99%
- 10Y*
- 33.99%
- ALL TIME*
- 11.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.29B | $7.23B | $7.12B | |
| $0.00 | $0.00 | $0.00 |
VRNIX vs. SMH - 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% |
SMH VanEck Semiconductor ETF | 51.46% | 49.17% | 39.10% | 73.38% | -33.53% | 42.13% | 55.53% | 64.45% | -9.05% | 38.48% |
Correlation
The correlation between VRNIX and SMH is 0.77, 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. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.77 |
The correlation between VRNIX and SMH has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VRNIX vs. SMH — Risk / Return Rank
VRNIX
SMH
VRNIX vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and VanEck Semiconductor ETF (SMH). 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 | SMH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 3.79 | -1.64 |
| Martin ratioReturn relative to average drawdown | 9.23 | 15.18 | -5.96 |
Loading charts...
Drawdowns
VRNIX vs. SMH - Drawdown Comparison
The maximum VRNIX drawdown since its inception was -34.57%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for VRNIX and SMH.
Loading charts...
Drawdown Indicators
| VRNIX | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.57% | -84.96% | +50.39% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -24.62% | +15.77% |
Max Drawdown (3Y)Largest decline over 3 years | -19.40% | -35.74% | +16.34% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -45.30% | +20.16% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | -45.30% | +10.73% |
Current DrawdownCurrent decline from peak | -1.31% | -18.46% | +17.15% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -40.89% | +37.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 6.13% | -4.07% |
Volatility
VRNIX vs. SMH - Volatility Comparison
The current volatility for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) is 3.47%, while VanEck Semiconductor ETF (SMH) has a volatility of 14.15%. This indicates that VRNIX experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VRNIX | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 14.15% | -10.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.13% | 32.94% | -22.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 38.50% | -25.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 36.51% | -19.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 33.33% | -15.06% |
VRNIX vs. SMH - Expense Ratio Comparison
VRNIX has a 0.07% expense ratio, which is lower than SMH's 0.35% expense ratio.
Dividends
VRNIX vs. SMH - Dividend Comparison
VRNIX's dividend yield for the trailing twelve months is around 1.03%, more than SMH's 0.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMH VanEck Semiconductor ETF | 0.20% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
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
VRNIX and SMH have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMH has higher volatility (14.15%) compared to VRNIX (3.47%). In terms of maximum drawdown, VRNIX dropped -34.57% vs SMH's -84.96%.
SMH currently has the higher Sharpe Ratio (2.43 vs 1.47), 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.
Find the right allocation for VRNIX and SMH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer