VSIIX vs. IMCG
VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both funds - VSIIX is a Small Cap Value Equities fund managed by Vanguard, while IMCG is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Broad Growth Index. Over the past 10 years, VSIIX returned 10.75%/yr vs 14.19%/yr for IMCG. Their correlation of 0.83 means they have usually moved in the same direction. Both charge a 0.06% expense ratio.
Performance
VSIIX vs. IMCG - Performance Comparison
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Returns By Period
In the year-to-date period, VSIIX achieves a 16.66% return, which is significantly lower than IMCG's 21.28% return. Over the past 10 years, VSIIX has underperformed IMCG with an annualized return of 10.75%, while IMCG has yielded a comparatively higher 14.19% annualized return.
VSIIX
- 1D
- -0.19%
- 1M
- 0.56%
- 6M
- 9.86%
- YTD
- 16.66%
- 1Y
- 27.67%
- 3Y*
- 14.40%
- 5Y*
- 9.75%
- 10Y*
- 10.75%
- ALL TIME*
- 10.10%
IMCG
- 1D
- 1.55%
- 1M
- -0.71%
- 6M
- 17.16%
- YTD
- 21.28%
- 1Y
- 21.14%
- 3Y*
- 17.48%
- 5Y*
- 7.27%
- 10Y*
- 14.19%
- ALL TIME*
- 11.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.17M | $8.87M | $8.86M | |
| $0.00 | $0.00 | $0.00 |
VSIIX vs. IMCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 16.66% | 9.10% | 11.37% | 17.06% | -9.31% | 28.12% | 5.81% | 22.81% | -12.24% | 11.80% |
IMCG iShares Morningstar Mid-Cap Growth ETF | 21.28% | 6.55% | 18.14% | 20.73% | -25.79% | 15.39% | 45.64% | 35.70% | -3.68% | 25.57% |
Correlation
The correlation between VSIIX and IMCG is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2004 | 0.83 |
The correlation between VSIIX and IMCG has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
VSIIX vs. IMCG — Risk / Return Rank
VSIIX
IMCG
VSIIX vs. IMCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) and iShares Morningstar Mid-Cap Growth ETF (IMCG). 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.
| VSIIX | IMCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 2.09 | +0.83 |
| Martin ratioReturn relative to average drawdown | 10.70 | 7.86 | +2.84 |
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Drawdowns
VSIIX vs. IMCG - Drawdown Comparison
The maximum VSIIX drawdown since its inception was -62.05%, which is greater than IMCG's maximum drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for VSIIX and IMCG.
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Drawdown Indicators
| VSIIX | IMCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.05% | -58.96% | -3.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -10.17% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -24.09% | -21.92% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -24.09% | -35.08% | +10.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.38% | -35.08% | -10.30% |
Current DrawdownCurrent decline from peak | -1.41% | -1.75% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -9.17% | +0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.70% | -0.29% |
Volatility
VSIIX vs. IMCG - Volatility Comparison
The current volatility for Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) is 3.33%, while iShares Morningstar Mid-Cap Growth ETF (IMCG) has a volatility of 3.82%. This indicates that VSIIX experiences smaller price fluctuations and is considered to be less risky than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSIIX | IMCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 3.82% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 14.02% | -3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.92% | 16.91% | -1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 20.38% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.75% | 20.56% | +1.19% |
VSIIX vs. IMCG - Expense Ratio Comparison
Both VSIIX and IMCG have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VSIIX vs. IMCG - Dividend Comparison
VSIIX's dividend yield for the trailing twelve months is around 1.77%, more than IMCG's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCG iShares Morningstar Mid-Cap Growth ETF | 0.62% | 0.78% | 0.78% | 0.85% | 0.91% | 0.41% | 0.09% | 0.30% | 0.35% | 0.45% | 0.52% | 0.38% |
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
VSIIX and IMCG have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMCG has higher volatility (3.82%) compared to VSIIX (3.33%). In terms of maximum drawdown, VSIIX dropped -62.05% vs IMCG's -58.96%.
VSIIX currently has the higher Sharpe Ratio (1.74 vs 1.26), 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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