VSCIX vs. VFSIX
VSCIX (Vanguard Small-Cap Index Fund Institutional Shares) and VFSIX (Vanguard Short-Term Investment-Grade Fund Institutional Shares) are both mutual funds - VSCIX is a Small Cap Blend Equities fund managed by Vanguard, while VFSIX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VSCIX returned 11.38%/yr vs 2.63%/yr for VFSIX. At a correlation of -0.11, they often move in opposite directions. VSCIX charges 0.04%/yr vs 0.07%/yr for VFSIX.
Performance
VSCIX vs. VFSIX - Performance Comparison
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Returns By Period
In the year-to-date period, VSCIX achieves a 14.94% return, which is significantly higher than VFSIX's 0.83% return. Over the past 10 years, VSCIX has outperformed VFSIX with an annualized return of 11.38%, while VFSIX has yielded a comparatively lower 2.63% annualized return.
VSCIX
- 1D
- 0.80%
- 1M
- 4.24%
- YTD
- 14.94%
- 6M
- 14.90%
- 1Y
- 29.67%
- 3Y*
- 17.32%
- 5Y*
- 7.35%
- 10Y*
- 11.38%
VFSIX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 0.83%
- 6M
- 1.12%
- 1Y
- 4.82%
- 3Y*
- 5.55%
- 5Y*
- 2.37%
- 10Y*
- 2.63%
VSCIX vs. VFSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSCIX Vanguard Small-Cap Index Fund Institutional Shares | 14.94% | 8.85% | 12.96% | 19.52% | -17.60% | 17.74% | 19.07% | 27.40% | -9.33% | 16.25% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 0.83% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
Correlation
The correlation between VSCIX and VFSIX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 1997 | -0.11 |
The correlation between VSCIX and VFSIX shifts across timeframes, from -0.11 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VSCIX vs. VFSIX — Risk / Return Rank
VSCIX
VFSIX
VSCIX vs. VFSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) and Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX). 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.
| VSCIX | VFSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.47 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 2.84 | +0.68 |
| Martin ratioReturn relative to average drawdown | 12.98 | 11.24 | +1.73 |
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
| VSCIX | VFSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.08 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.80 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 1.06 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 1.53 | -1.13 |
Drawdowns
VSCIX vs. VFSIX - Drawdown Comparison
The maximum VSCIX drawdown since its inception was -59.66%, which is greater than VFSIX's maximum drawdown of -9.21%. Use the drawdown chart below to compare losses from any high point for VSCIX and VFSIX.
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Drawdown Indicators
| VSCIX | VFSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.66% | -9.21% | -50.45% |
Max Drawdown (1Y)Largest decline over 1 year | -8.97% | -1.71% | -7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -1.71% | -23.54% |
Max Drawdown (5Y)Largest decline over 5 years | -28.13% | -9.21% | -18.92% |
Max Drawdown (10Y)Largest decline over 10 years | -41.81% | -9.21% | -32.60% |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -10.12% | -0.79% | -9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.43% | +1.99% |
Volatility
VSCIX vs. VFSIX - Volatility Comparison
Vanguard Small-Cap Index Fund Institutional Shares (VSCIX) has a higher volatility of 4.40% compared to Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) at 0.75%. This indicates that VSCIX's price experiences larger fluctuations and is considered to be riskier than VFSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSCIX | VFSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 0.75% | +3.65% |
Volatility (6M)Calculated over the trailing 6-month period | 11.72% | 1.67% | +10.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.27% | 2.33% | +13.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 2.99% | +17.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.57% | 2.49% | +19.08% |
VSCIX vs. VFSIX - Expense Ratio Comparison
VSCIX has a 0.04% expense ratio, which is lower than VFSIX's 0.07% 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%.
Dividends
VSCIX vs. VFSIX - Dividend Comparison
VSCIX's dividend yield for the trailing twelve months is around 1.19%, less than VFSIX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.74% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
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
VSCIX and VFSIX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VSCIX has higher volatility (4.40%) compared to VFSIX (0.75%). In terms of maximum drawdown, VSCIX dropped -59.66% vs VFSIX's -9.21%.
VFSIX currently has the higher Sharpe Ratio (2.08 vs 1.94), 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.
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