VSIIX vs. SPY
Compare and contrast key facts about Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) and SPDR S&P 500 ETF (SPY).
VSIIX is managed by Vanguard. It was launched on Dec 7, 1999. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VSIIX or SPY.
Key characteristics
| VSIIX | SPY | |
|---|---|---|
| YTD Return | 19.11% | 26.77% |
| 1Y Return | 38.34% | 37.43% |
| 3Y Return (Ann) | 6.88% | 10.15% |
| 5Y Return (Ann) | 11.98% | 15.86% |
| 10Y Return (Ann) | 9.58% | 13.33% |
| Sharpe Ratio | 2.22 | 3.06 |
| Sortino Ratio | 3.16 | 4.08 |
| Omega Ratio | 1.39 | 1.58 |
| Calmar Ratio | 3.13 | 4.44 |
| Martin Ratio | 13.03 | 20.11 |
| Ulcer Index | 2.92% | 1.85% |
| Daily Std Dev | 17.17% | 12.18% |
| Max Drawdown | -62.05% | -55.19% |
| Current Drawdown | -1.23% | -0.31% |
Correlation
The correlation between VSIIX and SPY is 0.85, 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.
Performance
VSIIX vs. SPY - Performance Comparison
In the year-to-date period, VSIIX achieves a 19.11% return, which is significantly lower than SPY's 26.77% return. Over the past 10 years, VSIIX has underperformed SPY with an annualized return of 9.58%, while SPY has yielded a comparatively higher 13.33% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VSIIX vs. SPY - Expense Ratio Comparison
VSIIX has a 0.06% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
VSIIX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
VSIIX vs. SPY - Dividend Comparison
VSIIX's dividend yield for the trailing twelve months is around 1.89%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 1.89% | 2.12% | 2.04% | 1.76% | 1.69% | 2.07% | 2.36% | 1.80% | 1.77% | 1.99% | 1.78% | 1.88% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
VSIIX vs. SPY - Drawdown Comparison
The maximum VSIIX drawdown since its inception was -62.05%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VSIIX and SPY. For additional features, visit the drawdowns tool.
Volatility
VSIIX vs. SPY - Volatility Comparison
Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) has a higher volatility of 5.80% compared to SPDR S&P 500 ETF (SPY) at 3.88%. This indicates that VSIIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.