VSCPX vs. VSMPX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX).

VSCPX is managed by Vanguard. It was launched on Dec 17, 2010. VSMPX is managed by Vanguard. It was launched on Apr 28, 2015.

Performance

VSCPX vs. VSMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). The values are adjusted to include any dividend payments, if applicable.

VSCPX vs. VSMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSCPX Vanguard Small-Cap Index Fund Institutional Plus Shares	-1.20%	8.86%	12.98%	19.52%	-17.59%	17.75%	19.09%	27.40%	-9.31%	16.27%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	-6.74%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%

Returns By Period

In the year-to-date period, VSCPX achieves a -1.20% return, which is significantly higher than VSMPX's -6.74% return. Over the past 10 years, VSCPX has underperformed VSMPX with an annualized return of 10.17%, while VSMPX has yielded a comparatively higher 13.29% annualized return.

VSCPX

• 1D: -0.97%
• 1M: -8.08%
• YTD: -1.20%
• 6M: 0.60%
• 1Y: 16.10%
• 3Y*: 11.87%
• 5Y*: 5.04%
• 10Y*: 10.17%

VSMPX

• 1D: -0.46%
• 1M: -7.71%
• YTD: -6.74%
• 6M: -4.46%
• 1Y: 14.79%
• 3Y*: 16.72%
• 5Y*: 10.14%
• 10Y*: 13.29%

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

VSCPX vs. VSMPX - Expense Ratio Comparison

VSCPX has a 0.03% expense ratio, which is higher than VSMPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VSCPX

Vanguard Small-Cap Index Fund Institutional Plus Shares

VSMPX

Vanguard Total Stock Market Index Fund Institutional Plus Shares

Return for Risk

VSCPX vs. VSMPX — Risk / Return Rank

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

VSCPX

VSCPX Risk / Return Rank: 37
VSCPX Sharpe Ratio Rank: 34
VSCPX Sortino Ratio Rank: 38
VSCPX Omega Ratio Rank: 34
VSCPX Calmar Ratio Rank: 36
VSCPX Martin Ratio Rank: 41

VSMPX

VSMPX Risk / Return Rank: 46
VSMPX Sharpe Ratio Rank: 41
VSMPX Sortino Ratio Rank: 45
VSMPX Omega Ratio Rank: 49
VSMPX Calmar Ratio Rank: 41
VSMPX 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.

VSCPX vs. VSMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). 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.

	VSCPX	VSMPX	Difference
Sharpe ratio Return per unit of total volatility	0.75	0.84	-0.09
Sortino ratio Return per unit of downside risk	1.19	1.30	-0.11
Omega ratio Gain probability vs. loss probability	1.16	1.20	-0.03
Calmar ratio Return relative to maximum drawdown	0.97	1.05	-0.08
Martin ratio Return relative to average drawdown	4.21	5.10	-0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSCPX vs. VSMPX - Sharpe Ratio Comparison

The current VSCPX Sharpe Ratio is 0.75, which is comparable to the VSMPX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of VSCPX and VSMPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VSCPX	VSMPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.84	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.59	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.73	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.73	-0.24

Correlation

The correlation between VSCPX and VSMPX is 0.90, 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

VSCPX vs. VSMPX - Dividend Comparison

VSCPX's dividend yield for the trailing twelve months is around 1.40%, more than VSMPX's 1.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSCPX Vanguard Small-Cap Index Fund Institutional Plus Shares	1.40%	1.35%	1.32%	1.56%	1.56%	1.26%	1.16%	1.41%	1.69%	1.37%	1.52%	1.51%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.22%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Drawdowns

VSCPX vs. VSMPX - Drawdown Comparison

The maximum VSCPX drawdown since its inception was -41.81%, which is greater than VSMPX's maximum drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for VSCPX and VSMPX.

Drawdown Indicators

	VSCPX	VSMPX	Difference
Max Drawdown Largest peak-to-trough decline	-41.81%	-34.97%	-6.84%
Max Drawdown (1Y) Largest decline over 1 year	-14.29%	-12.41%	-1.88%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-25.35%	-2.78%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-34.97%	-6.84%
Current Drawdown Current decline from peak	-8.97%	-8.92%	-0.05%
Average Drawdown Average peak-to-trough decline	-6.55%	-4.65%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.56%	+0.73%

Volatility

VSCPX vs. VSMPX - Volatility Comparison

Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX) has a higher volatility of 5.90% compared to Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) at 4.39%. This indicates that VSCPX's price experiences larger fluctuations and is considered to be riskier than VSMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSCPX	VSMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.90%	4.39%	+1.51%
Volatility (6M) Calculated over the trailing 6-month period	12.22%	9.33%	+2.89%
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	18.42%	+3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.70%	17.32%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	18.37%	+3.16%