VRTGX vs. VEXRX

Last updated Aug 4, 2026

VRTGX (Vanguard Russell 2000 Growth Index Fund Institutional Shares) and VEXRX (Vanguard Explorer Fund Admiral Shares) are both Small Cap Growth Equities funds from Vanguard. Over the past 10 years, VRTGX returned 10.84%/yr vs 12.95%/yr for VEXRX. Their 0.97 correlation means they have historically moved very closely together. VRTGX charges 0.08%/yr vs 0.29%/yr for VEXRX.

Performance

VRTGX vs. VEXRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) and Vanguard Explorer Fund Admiral Shares (VEXRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VRTGX having a 15.09% return and VEXRX slightly lower at 14.39%. Over the past 10 years, VRTGX has underperformed VEXRX with an annualized return of 10.84%, while VEXRX has yielded a comparatively higher 12.95% annualized return.

VRTGX

• 1D: -0.68%
• 1M: -4.14%
• 6M: 9.64%
• YTD: 15.09%
• 1Y: 31.11%
• 3Y*: 14.59%
• 5Y*: 5.13%
• 10Y*: 10.84%
• ALL TIME*: 11.79%

VEXRX

• 1D: -0.28%
• 1M: -3.03%
• 6M: 9.37%
• YTD: 14.39%
• 1Y: 25.19%
• 3Y*: 14.34%
• 5Y*: 6.18%
• 10Y*: 12.95%
• ALL TIME*: 10.08%

*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)
VEXRX Vanguard Explorer Fund Admiral Shares	$0.00	$0.00	$0.00
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares	$0.00	$0.00	$0.00

VRTGX vs. VEXRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares	15.09%	12.97%	15.26%	18.80%	-26.30%	2.82%	34.81%	28.84%	-9.21%	22.27%
VEXRX Vanguard Explorer Fund Admiral Shares	14.39%	7.19%	17.40%	19.90%	-23.23%	16.07%	31.51%	31.42%	-2.34%	22.64%

Correlation

The correlation between VRTGX and VEXRX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.97
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.97

The correlation between VRTGX and VEXRX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

VRTGX vs. VEXRX — Risk / Return Rank

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

VRTGX

VRTGX Risk / Return Rank: 41
VRTGX Sharpe Ratio Rank: 39
VRTGX Sortino Ratio Rank: 39
VRTGX Omega Ratio Rank: 34
VRTGX Calmar Ratio Rank: 47
VRTGX Martin Ratio Rank: 44

VEXRX

VEXRX Risk / Return Rank: 48
VEXRX Sharpe Ratio Rank: 40
VEXRX Sortino Ratio Rank: 42
VEXRX Omega Ratio Rank: 37
VEXRX Calmar Ratio Rank: 64
VEXRX Martin Ratio Rank: 59

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.

VRTGX vs. VEXRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) and Vanguard Explorer Fund Admiral Shares (VEXRX). 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.

	VRTGX	VEXRX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.29	-0.01
Sortino ratio: Return per unit of downside risk	1.86	1.91	-0.04
Omega ratio: Gain probability vs. loss probability	1.22	1.22	-0.01
Calmar ratio: Return relative to maximum drawdown	1.94	2.27	-0.34
Martin ratio: Return relative to average drawdown	6.68	8.21	-1.54

VRTGX vs. VEXRX - Sharpe Ratio Comparison

The current VRTGX Sharpe Ratio is 1.28, which is comparable to the VEXRX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of VRTGX and VEXRX, 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

VRTGX vs. VEXRX - Drawdown Comparison

The maximum VRTGX drawdown since its inception was -41.97%, smaller than the maximum VEXRX drawdown of -57.26%. Use the drawdown chart below to compare losses from any high point for VRTGX and VEXRX.

Drawdown Indicators

	VRTGX	VEXRX	Difference
Max Drawdown Largest peak-to-trough decline	-41.97%	-57.26%	+15.29%
Max Drawdown (1Y) Largest decline over 1 year	-14.80%	-10.16%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-28.54%	-24.35%	-4.19%
Max Drawdown (5Y) Largest decline over 5 years	-40.48%	-32.67%	-7.81%
Max Drawdown (10Y) Largest decline over 10 years	-41.97%	-39.86%	-2.11%
Current Drawdown Current decline from peak	-5.85%	-5.00%	-0.85%
Average Drawdown Average peak-to-trough decline	-10.35%	-9.89%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	2.81%	+1.48%

Volatility

VRTGX vs. VEXRX - Volatility Comparison

Vanguard Russell 2000 Growth Index Fund Institutional Shares (VRTGX) has a higher volatility of 5.75% compared to Vanguard Explorer Fund Admiral Shares (VEXRX) at 4.39%. This indicates that VRTGX's price experiences larger fluctuations and is considered to be riskier than VEXRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRTGX	VEXRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	4.39%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	13.87%	+3.32%
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	18.00%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.69%	21.43%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.56%	21.80%	+2.76%

VRTGX vs. VEXRX - Expense Ratio Comparison

VRTGX has a 0.08% expense ratio, which is lower than VEXRX's 0.29% expense ratio.

Dividends

VRTGX vs. VEXRX - Dividend Comparison

VRTGX's dividend yield for the trailing twelve months is around 0.64%, less than VEXRX's 6.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEXRX Vanguard Explorer Fund Admiral Shares	6.59%	7.54%	12.72%	0.89%	5.22%	16.17%	6.76%	5.08%	11.13%	11.46%	4.63%	10.89%
VRTGX Vanguard Russell 2000 Growth Index Fund Institutional Shares	0.64%	0.57%	0.62%	0.85%	0.78%	0.54%	0.53%	0.90%	0.85%	0.75%	1.07%	0.84%

Frequently Asked Questions

Can I hold both VRTGX and VEXRX in my portfolio?

With a correlation of 0.96, VRTGX and VEXRX 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, VRTGX or VEXRX?

VRTGX has higher volatility (5.75%) compared to VEXRX (4.39%). In terms of maximum drawdown, VRTGX dropped -41.97% vs VEXRX's -57.26%.

Which has better risk-adjusted returns?

VEXRX currently has the higher Sharpe Ratio (1.29 vs 1.28), 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.