VSCIX vs. CASH

Last updated Jun 16, 2026

VSCIX (Vanguard Small-Cap Index Fund Institutional Shares) is Small Cap Blend Equities fund managed by Vanguard, while CASH (Meta Financial Group, Inc.) is a stock. Over the past 10 years, VSCIX returned 11.60%/yr vs 17.45%/yr for CASH. At a 0.28 correlation, their price movements are largely independent.

Performance

VSCIX vs. CASH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) and Meta Financial Group, Inc. (CASH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VSCIX having a 15.38% return and CASH slightly higher at 15.67%. Over the past 10 years, VSCIX has underperformed CASH with an annualized return of 11.60%, while CASH has yielded a comparatively higher 17.45% annualized return.

VSCIX

• 1D: 0.68%
• 1M: 5.22%
• YTD: 15.38%
• 6M: 14.33%
• 1Y: 30.90%
• 3Y*: 16.15%
• 5Y*: 6.98%
• 10Y*: 11.60%

CASH

• 1D: -2.54%
• 1M: 2.73%
• YTD: 15.67%
• 6M: 11.54%
• 1Y: 10.58%
• 3Y*: 19.67%
• 5Y*: 9.35%
• 10Y*: 17.45%

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

VSCIX vs. CASH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSCIX Vanguard Small-Cap Index Fund Institutional Shares	15.38%	8.85%	12.96%	19.52%	-17.60%	17.74%	19.07%	27.40%	-9.33%	16.25%
CASH Meta Financial Group, Inc.	15.67%	-3.25%	39.47%	23.45%	-27.48%	63.82%	0.94%	89.68%	-36.81%	-9.39%

Correlation

The correlation between VSCIX and CASH is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jul 7, 1997	0.28

Over the past year, VSCIX and CASH have become more correlated (0.53) than their long-term average of 0.28, meaning their price movements have been converging.

Return for Risk

VSCIX vs. CASH — Risk / Return Rank

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

VSCIX

VSCIX Risk / Return Rank: 58
VSCIX Sharpe Ratio Rank: 47
VSCIX Sortino Ratio Rank: 48
VSCIX Omega Ratio Rank: 42
VSCIX Calmar Ratio Rank: 80
VSCIX Martin Ratio Rank: 73

CASH

CASH Risk / Return Rank: 52
CASH Sharpe Ratio Rank: 56
CASH Sortino Ratio Rank: 48
CASH Omega Ratio Rank: 49
CASH Calmar Ratio Rank: 53
CASH Martin Ratio Rank: 53

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.

VSCIX vs. CASH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) and Meta Financial Group, Inc. (CASH). 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.

	VSCIX	CASH	Difference
Sharpe ratio: Return per unit of total volatility	1.73	0.37	+1.36
Sortino ratio: Return per unit of downside risk	2.47	0.69	+1.78
Omega ratio: Gain probability vs. loss probability	1.30	1.09	+0.21
Calmar ratio: Return relative to maximum drawdown	3.22	0.48	+2.75
Martin ratio: Return relative to average drawdown	11.87	0.95	+10.92

VSCIX vs. CASH - Sharpe Ratio Comparison

The current VSCIX Sharpe Ratio is 1.73, which is higher than the CASH Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of VSCIX and CASH, 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

VSCIX vs. CASH - Drawdown Comparison

The maximum VSCIX drawdown since its inception was -59.66%, smaller than the maximum CASH drawdown of -83.66%. Use the drawdown chart below to compare losses from any high point for VSCIX and CASH.

Drawdown Indicators

	VSCIX	CASH	Difference
Max Drawdown Largest peak-to-trough decline	-59.66%	-83.66%	+24.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-22.21%	+13.24%
Max Drawdown (3Y) Largest decline over 3 years	-25.25%	-25.20%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-50.84%	+22.71%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-64.90%	+23.09%
Current Drawdown Current decline from peak	0.00%	-17.86%	+17.86%
Average Drawdown Average peak-to-trough decline	-10.11%	-22.88%	+12.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	11.12%	-8.68%

Volatility

VSCIX vs. CASH - Volatility Comparison

The current volatility for Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) is 5.48%, while Meta Financial Group, Inc. (CASH) has a volatility of 7.63%. This indicates that VSCIX experiences smaller price fluctuations and is considered to be less risky than CASH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSCIX	CASH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	7.63%	-2.15%
Volatility (6M) Calculated over the trailing 6-month period	12.25%	22.75%	-10.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	28.84%	-12.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	33.64%	-12.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	41.31%	-19.72%

Dividends

VSCIX vs. CASH - Dividend Comparison

VSCIX's dividend yield for the trailing twelve months is around 1.19%, more than CASH's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CASH Meta Financial Group, Inc.	0.24%	0.28%	0.27%	0.38%	0.46%	0.34%	0.55%	0.55%	0.96%	0.56%	0.51%	1.13%
VSCIX Vanguard Small-Cap Index Fund Institutional Shares	1.19%	1.34%	1.31%	1.55%	1.55%	1.25%	1.15%	1.40%	1.68%	1.36%	1.50%	1.49%

Frequently Asked Questions

Can I hold both VSCIX and CASH in my portfolio?

VSCIX and CASH have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSCIX or CASH?

CASH has higher volatility (7.63%) compared to VSCIX (5.48%). In terms of maximum drawdown, VSCIX dropped -59.66% vs CASH's -83.66%.

Which has better risk-adjusted returns?

VSCIX currently has the higher Sharpe Ratio (1.73 vs 0.37), 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.