VRNIX vs. SPY
Compare and contrast key facts about Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and State Street SPDR S&P 500 ETF (SPY).
VRNIX is managed by Vanguard. It was launched on Oct 15, 2010. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
VRNIX vs. SPY - Performance Comparison
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VRNIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares | -6.92% | 16.94% | 24.44% | 26.49% | -19.19% | 28.64% | 20.90% | 31.36% | -4.84% | 21.58% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, VRNIX achieves a -6.92% return, which is significantly lower than SPY's -4.37% return. Both investments have delivered pretty close results over the past 10 years, with VRNIX having a 13.65% annualized return and SPY not far ahead at 13.98%.
VRNIX
- 1D
- -0.39%
- 1M
- -7.69%
- YTD
- -6.92%
- 6M
- -4.69%
- 1Y
- 14.33%
- 3Y*
- 16.83%
- 5Y*
- 10.96%
- 10Y*
- 13.65%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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VRNIX vs. SPY - Expense Ratio Comparison
VRNIX has a 0.07% expense ratio, which is lower than SPY's 0.09% 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%.
Return for Risk
VRNIX vs. SPY — Risk / Return Rank
VRNIX
SPY
VRNIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| VRNIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 0.93 | -0.11 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.45 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.53 | -0.50 |
Martin ratioReturn relative to average drawdown | 4.99 | 7.30 | -2.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VRNIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.93 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.69 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.78 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.56 | +0.23 |
Correlation
The correlation between VRNIX and SPY is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VRNIX vs. SPY - Dividend Comparison
VRNIX's dividend yield for the trailing twelve months is around 1.19%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VRNIX Vanguard Russell 1000 Index Fund Institutional Shares | 1.19% | 0.82% | 1.21% | 1.41% | 1.59% | 2.86% | 1.46% | 1.65% | 2.00% | 1.73% | 1.93% | 1.92% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
VRNIX vs. SPY - Drawdown Comparison
The maximum VRNIX drawdown since its inception was -34.57%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VRNIX and SPY.
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Drawdown Indicators
| VRNIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.57% | -55.19% | +20.62% |
Max Drawdown (1Y)Largest decline over 1 year | -12.31% | -12.05% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -24.50% | -0.64% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | -33.72% | -0.85% |
Current DrawdownCurrent decline from peak | -8.85% | -6.24% | -2.61% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -9.09% | +5.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.52% | +0.01% |
Volatility
VRNIX vs. SPY - Volatility Comparison
The current volatility for Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX) is 4.30%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that VRNIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRNIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 5.31% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.17% | 9.47% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.29% | 19.05% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 17.06% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 17.92% | +0.32% |