VSGAX vs. TQAIX

Last updated Jun 4, 2026

VSGAX (Vanguard Small-Cap Growth Index Fund Admiral Shares) and TQAIX (T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I) are both Small Cap Growth Equities funds. Over the past 10 years, VSGAX returned 11.85%/yr vs 11.87%/yr for TQAIX. With a 0.97 correlation, they move nearly in lockstep. VSGAX charges 0.07%/yr vs 0.65%/yr for TQAIX.

Performance

VSGAX vs. TQAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) and T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSGAX achieves a 18.73% return, which is significantly higher than TQAIX's 14.83% return. Both investments have delivered pretty close results over the past 10 years, with VSGAX having a 11.85% annualized return and TQAIX not far ahead at 11.87%.

VSGAX

• 1D: 0.72%
• 1M: 6.06%
• YTD: 18.73%
• 6M: 18.15%
• 1Y: 34.11%
• 3Y*: 18.13%
• 5Y*: 6.11%
• 10Y*: 11.85%

TQAIX

• 1D: 0.91%
• 1M: 3.82%
• YTD: 14.83%
• 6M: 13.64%
• 1Y: 29.15%
• 3Y*: 16.65%
• 5Y*: 7.74%
• 10Y*: 11.87%

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

VSGAX vs. TQAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	18.73%	8.44%	14.94%	23.04%	-28.39%	5.70%	35.26%	32.76%	-5.69%	21.92%
TQAIX T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I	14.83%	10.28%	13.10%	21.34%	-22.38%	11.32%	24.01%	32.92%	-6.77%	22.26%

Correlation

The correlation between VSGAX and TQAIX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 28, 2016	0.97

The correlation between VSGAX and TQAIX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

VSGAX vs. TQAIX — Risk / Return Rank

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

VSGAX

VSGAX Risk / Return Rank: 48
VSGAX Sharpe Ratio Rank: 41
VSGAX Sortino Ratio Rank: 37
VSGAX Omega Ratio Rank: 35
VSGAX Calmar Ratio Rank: 68
VSGAX Martin Ratio Rank: 61

TQAIX

TQAIX Risk / Return Rank: 38
TQAIX Sharpe Ratio Rank: 32
TQAIX Sortino Ratio Rank: 32
TQAIX Omega Ratio Rank: 30
TQAIX Calmar Ratio Rank: 46
TQAIX Martin Ratio Rank: 48

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.

VSGAX vs. TQAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) and T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX). 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.

	VSGAX	TQAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.65	+0.21
Sortino ratio: Return per unit of downside risk	2.56	2.36	+0.20
Omega ratio: Gain probability vs. loss probability	1.31	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.18	2.57	+0.61
Martin ratio: Return relative to average drawdown	12.10	9.96	+2.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSGAX vs. TQAIX - Sharpe Ratio Comparison

The current VSGAX Sharpe Ratio is 1.86, which is comparable to the TQAIX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of VSGAX and TQAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VSGAX	TQAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.65	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.36	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.55	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.58	-0.01

Drawdowns

VSGAX vs. TQAIX - Drawdown Comparison

The maximum VSGAX drawdown since its inception was -38.70%, roughly equal to the maximum TQAIX drawdown of -37.58%. Use the drawdown chart below to compare losses from any high point for VSGAX and TQAIX.

Drawdown Indicators

	VSGAX	TQAIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.70%	-37.58%	-1.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-12.07%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-25.78%	-1.69%
Max Drawdown (5Y) Largest decline over 5 years	-38.36%	-33.12%	-5.24%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-37.58%	-1.12%
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	-8.55%	-7.56%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	3.11%	-0.13%

Volatility

VSGAX vs. TQAIX - Volatility Comparison

The current volatility for Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) is 5.28%, while T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I (TQAIX) has a volatility of 6.04%. This indicates that VSGAX experiences smaller price fluctuations and is considered to be less risky than TQAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSGAX	TQAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.28%	6.04%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	14.76%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	19.45%	18.83%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.56%	21.35%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.00%	21.51%	+1.49%

VSGAX vs. TQAIX - Expense Ratio Comparison

VSGAX has a 0.07% expense ratio, which is lower than TQAIX's 0.65% expense ratio.

Dividends

VSGAX vs. TQAIX - Dividend Comparison

VSGAX's dividend yield for the trailing twelve months is around 0.44%, less than TQAIX's 5.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TQAIX T. Rowe Price Integrated US Small-Cap Growth Equity Fund Class I	5.46%	6.27%	8.01%	2.41%	3.70%	13.89%	3.01%	4.11%	4.68%	0.21%	0.02%	0.00%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	0.44%	0.54%	0.54%	0.67%	0.55%	0.36%	0.44%	0.57%	0.79%	0.81%	1.08%	0.98%

Frequently Asked Questions

Can I hold both VSGAX and TQAIX in my portfolio?

With a correlation of 0.95, VSGAX and TQAIX 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, VSGAX or TQAIX?

TQAIX has higher volatility (6.04%) compared to VSGAX (5.28%). In terms of maximum drawdown, VSGAX dropped -38.70% vs TQAIX's -37.58%.

Which has better risk-adjusted returns?

VSGAX currently has the higher Sharpe Ratio (1.86 vs 1.65), 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.