VSIAX vs. VSIIX
VSIAX (Vanguard Small-Cap Value Index Fund Admiral Shares) and VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) are both Small Cap Value Equities funds from Vanguard. Over the past 10 years, VSIAX returned 10.63%/yr vs 10.65%/yr for VSIIX. Their 1.00 correlation means they have historically moved very closely together. VSIAX charges 0.07%/yr vs 0.06%/yr for VSIIX.
Performance
VSIAX vs. VSIIX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with VSIAX at 16.88% and VSIIX at 16.88%. Both investments have delivered pretty close results over the past 10 years, with VSIAX having a 10.63% annualized return and VSIIX not far ahead at 10.65%.
VSIAX
- 1D
- 0.01%
- 1M
- 1.03%
- 6M
- 10.97%
- YTD
- 16.88%
- 1Y
- 25.97%
- 3Y*
- 14.38%
- 5Y*
- 9.78%
- 10Y*
- 10.63%
- ALL TIME*
- 12.39%
VSIIX
- 1D
- 0.00%
- 1M
- 1.01%
- 6M
- 10.97%
- YTD
- 16.88%
- 1Y
- 25.98%
- 3Y*
- 14.39%
- 5Y*
- 9.79%
- 10Y*
- 10.65%
- ALL TIME*
- 10.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VSIAX vs. VSIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares | 16.88% | 9.09% | 11.34% | 17.06% | -9.31% | 28.10% | 5.80% | 22.76% | -12.24% | 11.80% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 16.88% | 9.10% | 11.37% | 17.06% | -9.31% | 28.12% | 5.81% | 22.81% | -12.24% | 11.80% |
Correlation
The correlation between VSIAX and VSIIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011 | 1.00 |
The correlation between VSIAX and VSIIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VSIAX vs. VSIIX — Risk / Return Rank
VSIAX
VSIIX
VSIAX vs. VSIIX - 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 Small-Cap Value Index Fund Institutional Shares (VSIIX). 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.
| VSIAX | VSIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.81 | 0.00 |
| Martin ratioReturn relative to average drawdown | 10.31 | 10.31 | 0.00 |
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Drawdowns
VSIAX vs. VSIIX - Drawdown Comparison
The maximum VSIAX drawdown since its inception was -45.39%, smaller than the maximum VSIIX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for VSIAX and VSIIX.
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Drawdown Indicators
| VSIAX | VSIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.39% | -62.05% | +16.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -8.87% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -24.09% | -24.09% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -24.09% | -24.09% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -45.39% | -45.38% | -0.01% |
Current DrawdownCurrent decline from peak | -1.21% | -1.23% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -8.47% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 2.42% | 0.00% |
Volatility
VSIAX vs. VSIIX - Volatility Comparison
Vanguard Small-Cap Value Index Fund Admiral Shares (VSIAX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) have volatilities of 3.33% and 3.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSIAX | VSIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 3.32% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 10.26% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.95% | 14.95% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.57% | 19.57% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.38% | 21.75% | +0.63% |
VSIAX vs. VSIIX - Expense Ratio Comparison
VSIAX has a 0.07% expense ratio, which is higher than VSIIX's 0.06% 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. VSIIX - Dividend Comparison
VSIAX's dividend yield for the trailing twelve months is around 1.75%, less than VSIIX's 1.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSIAX Vanguard Small-Cap Value Index Fund Admiral Shares | 1.75% | 1.95% | 1.98% | 2.10% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 1.77% | 1.96% | 1.99% | 2.10% | 2.04% | 1.76% | 1.69% | 2.07% | 2.36% | 1.80% | 1.77% | 1.99% |
Frequently Asked Questions
With a correlation of 1.00, VSIAX and VSIIX 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.
VSIAX has higher volatility (3.33%) compared to VSIIX (3.32%). In terms of maximum drawdown, VSIAX dropped -45.39% vs VSIIX's -62.05%.
VSIIX currently has the higher Sharpe Ratio (1.67 vs 1.67), 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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