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VSIAX vs. VIGIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VSIAX vs. VIGIX

Last updated Aug 4, 2026
Documentation

VSIAX (Vanguard Small-Cap Value Index Fund Admiral Shares) and VIGIX (Vanguard Growth Index Fund Institutional Shares) are both mutual funds - VSIAX is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while VIGIX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Both are passively managed. Over the past 10 years, VSIAX returned 10.74%/yr vs 17.38%/yr for VIGIX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. VSIAX charges 0.07%/yr vs 0.03%/yr for VIGIX.

Performance

VSIAX vs. VIGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VSIAX achieves a 16.66% return, which is significantly higher than VIGIX's 5.01% return. Over the past 10 years, VSIAX has underperformed VIGIX with an annualized return of 10.74%, while VIGIX has yielded a comparatively higher 17.38% annualized return.

VSIAX

1D
-0.19%
1M
0.56%
6M
9.84%
YTD
16.66%
1Y
27.64%
3Y*
14.39%
5Y*
9.74%
10Y*
10.74%
ALL TIME*
12.38%

VIGIX

1D
1.15%
1M
-0.49%
6M
6.13%
YTD
5.01%
1Y
15.36%
3Y*
21.20%
5Y*
12.16%
10Y*
17.38%
ALL TIME*
9.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VIGIX

Vanguard Growth Index Fund Institutional Shares
$0.00$0.00$0.00

VSIAX

Vanguard Small-Cap Value Index Fund Admiral Shares
$0.00$0.00$0.00

VSIAX vs. VIGIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSIAX
Vanguard Small-Cap Value Index Fund Admiral Shares		16.66%9.09%11.34%17.06%-9.31%28.10%5.80%22.76%-12.24%11.80%
VIGIX
Vanguard Growth Index Fund Institutional Shares		5.01%19.44%32.68%46.77%-33.13%27.27%40.19%37.26%-3.34%27.81%

Correlation

The correlation between VSIAX and VIGIX is 0.45, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.45

Correlation (3Y)
Balances recent behavior with more history.

0.52

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.63

Correlation (10Y)
Provides a long-term view across more market conditions.

0.62

Correlation (All Time)
Calculated using the full available price history since Sep 27, 2011

0.70

Over the past year, the correlation between VSIAX and VIGIX has dropped to 0.45 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

VSIAX vs. VIGIX - Sectors Allocation Comparison

Sectors
VSIAX
VIGIX

Financial Services

17.5%
3.8%

Industrials

17.3%
5.3%

Consumer Cyclical

13.6%
11.5%

Real Estate

11.1%
1.0%

Technology

10.9%
56.2%

Healthcare

8.4%
4.7%

Basic Materials

5.3%
0.5%

Utilities

4.9%
0.7%

Energy

4.3%
0.3%

Consumer Defensive

4.2%
1.4%

Communication Services

2.4%
15.4%

Financial Services

VSIAX
17.5%
VIGIX
3.8%

Industrials

VSIAX
17.3%
VIGIX
5.3%

Consumer Cyclical

VSIAX
13.6%
VIGIX
11.5%

Real Estate

VSIAX
11.1%
VIGIX
1.0%

Technology

VSIAX
10.9%
VIGIX
56.2%

Healthcare

VSIAX
8.4%
VIGIX
4.7%

Basic Materials

VSIAX
5.3%
VIGIX
0.5%

Utilities

VSIAX
4.9%
VIGIX
0.7%

Energy

VSIAX
4.3%
VIGIX
0.3%

Consumer Defensive

VSIAX
4.2%
VIGIX
1.4%

Communication Services

VSIAX
2.4%
VIGIX
15.4%

Compare stocks, funds, or ETFs

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Vanguard Small-Cap Value Index Fund Admiral Shares

Vanguard Growth Index Fund Institutional Shares

Often compared with VSIAX:
VSIAX vs. VBRVSIAX vs. VSGAXVSIAX vs. VINIXVSIAX vs. VSIIXVSIAX vs. VOOVSIAX vs. SWSSXVSIAX vs. VIOV
Often compared with VIGIX:
VIGIX vs. VOOVIGIX vs. VIIIXVIGIX vs. VUGVIGIX vs. SWPPXVIGIX vs. VINIXVIGIX vs. SPYVIGIX vs. VIVIX

Return for Risk

VSIAX vs. VIGIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VSIAX
VSIAX Risk / Return Rank: 7676
Overall Rank
VSIAX Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VSIAX Sortino Ratio Rank: 7474
Sortino Ratio Rank
VSIAX Omega Ratio Rank: 6666
Omega Ratio Rank
VSIAX Calmar Ratio Rank: 8484
Calmar Ratio Rank
VSIAX Martin Ratio Rank: 8383
Martin Ratio Rank
VIGIX
VIGIX Risk / Return Rank: 1616
Overall Rank
VIGIX Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
VIGIX Sortino Ratio Rank: 1717
Sortino Ratio Rank
VIGIX Omega Ratio Rank: 1717
Omega Ratio Rank
VIGIX Calmar Ratio Rank: 1414
Calmar Ratio Rank
VIGIX Martin Ratio Rank: 1616
Martin Ratio Rank
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.

VSIAX vs. VIGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) and Vanguard Growth Index Fund Institutional Shares (VIGIX). 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.

VSIAXVIGIXDifference
Sharpe ratioReturn per unit of total volatility
1.74
0.73

+1.01

Sortino ratioReturn per unit of downside risk
2.57
1.10

+1.47

Omega ratioGain probability vs. loss probability

1.31

1.13

+0.17

Calmar ratioReturn relative to maximum drawdown

2.91

0.78

+2.13

Martin ratioReturn relative to average drawdown

10.69

2.49

+8.19

VSIAX vs. VIGIX - Sharpe Ratio Comparison

The current VSIAX Sharpe Ratio is 1.74, which is higher than the VIGIX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of VSIAX and VIGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VSIAX vs. VIGIX - Drawdown Comparison

The maximum VSIAX drawdown since its inception was -45.39%, smaller than the maximum VIGIX drawdown of -56.95%. Use the drawdown chart below to compare losses from any high point for VSIAX and VIGIX.

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Drawdown Indicators

VSIAXVIGIXDifference

Max Drawdown

Largest peak-to-trough decline

-45.39%

-56.95%

+11.56%

Max Drawdown (1Y)

Largest decline over 1 year

-8.87%

-16.51%

+7.64%

Max Drawdown (3Y)

Largest decline over 3 years

-24.09%

-23.03%

-1.06%

Max Drawdown (5Y)

Largest decline over 5 years

-24.09%

-35.62%

+11.53%

Max Drawdown (10Y)

Largest decline over 10 years

-45.39%

-35.62%

-9.77%

Current Drawdown

Current decline from peak

-1.40%

-5.52%

+4.12%

Average Drawdown

Average peak-to-trough decline

-5.44%

-16.21%

+10.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.42%

5.17%

-2.75%

Volatility

VSIAX vs. VIGIX - Volatility Comparison

The current volatility for Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) is 3.34%, while Vanguard Growth Index Fund Institutional Shares (VIGIX) has a volatility of 5.55%. This indicates that VSIAX experiences smaller price fluctuations and is considered to be less risky than VIGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VSIAXVIGIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.34%

5.55%

-2.21%

Volatility (6M)

Calculated over the trailing 6-month period

10.26%

14.25%

-3.99%

Volatility (1Y)

Calculated over the trailing 1-year period

14.92%

17.79%

-2.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.57%

22.61%

-3.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.38%

21.70%

+0.68%

VSIAX vs. VIGIX - Expense Ratio Comparison

VSIAX has a 0.07% expense ratio, which is higher than VIGIX's 0.03% 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%.

Dividends

VSIAX vs. VIGIX - Dividend Comparison

VSIAX's dividend yield for the trailing twelve months is around 1.76%, more than VIGIX's 0.40% yield.

PositionTTM20252024202320222021202020192018201720162015
VIGIX
Vanguard Growth Index Fund Institutional Shares		0.40%0.41%0.47%0.58%0.70%0.48%0.66%0.95%1.32%1.15%1.40%1.31%
VSIAX
Vanguard Small-Cap Value Index Fund Admiral Shares		1.76%1.95%1.98%2.10%2.03%1.75%1.68%2.06%2.35%1.79%1.77%1.99%

Frequently Asked Questions

VSIAX and VIGIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VIGIX has higher volatility (5.55%) compared to VSIAX (3.34%). In terms of maximum drawdown, VSIAX dropped -45.39% vs VIGIX's -56.95%.

VSIAX currently has the higher Sharpe Ratio (1.74 vs 0.73), 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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