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VSMPX vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VSMPX vs. VOO

Last updated Aug 2, 2026
Documentation

VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) and VOO (Vanguard S&P 500 ETF) are both funds - VSMPX is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VSMPX returned 14.49%/yr vs 15.14%/yr for VOO. Their 0.99 correlation means they have historically moved very closely together. VSMPX charges 0.02%/yr vs 0.03%/yr for VOO.

Performance

VSMPX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both investments are quite close, with VSMPX having a 9.88% return and VOO slightly higher at 10.16%. Both investments have delivered pretty close results over the past 10 years, with VSMPX having a 14.49% annualized return and VOO not far ahead at 15.14%.

VSMPX

1D
1.63%
1M
-0.78%
6M
8.16%
YTD
9.88%
1Y
21.12%
3Y*
18.60%
5Y*
11.63%
10Y*
14.49%
ALL TIME*
14.62%

VOO

1D
0.71%
1M
0.26%
6M
8.58%
YTD
10.16%
1Y
21.58%
3Y*
19.42%
5Y*
12.83%
10Y*
15.14%
ALL TIME*
14.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

VOO

Vanguard S&P 500 ETF
$3.82B$3.78B$5.44B

VSMPX

Vanguard Total Stock Market Index Fund Institutional Plus Shares
$0.00$0.00$0.00

VSMPX vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSMPX
Vanguard Total Stock Market Index Fund Institutional Plus Shares		9.88%17.15%23.26%26.53%-19.50%25.74%21.01%30.79%-5.16%21.19%
VOO
Vanguard S&P 500 ETF		10.16%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between VSMPX and VOO is 0.99 - 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.

0.99

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

0.99

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Jan 4, 2016

0.99

The correlation between VSMPX and VOO has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

VSMPX vs. VOO - Sectors Allocation Comparison

Sectors
VSMPX
VOO

Technology

36.1%
38.6%

Financial Services

11.8%
11.4%

Industrials

10.2%
8.5%

Healthcare

9.7%
8.9%

Consumer Cyclical

9.4%
9.5%

Communication Services

9.1%
9.9%

Consumer Defensive

4.3%
4.5%

Energy

3.2%
3.0%

Real Estate

2.3%
1.8%

Utilities

2.2%
2.2%

Basic Materials

1.9%
1.7%

Technology

VSMPX
36.1%
VOO
38.6%

Financial Services

VSMPX
11.8%
VOO
11.4%

Industrials

VSMPX
10.2%
VOO
8.5%

Healthcare

VSMPX
9.7%
VOO
8.9%

Consumer Cyclical

VSMPX
9.4%
VOO
9.5%

Communication Services

VSMPX
9.1%
VOO
9.9%

Consumer Defensive

VSMPX
4.3%
VOO
4.5%

Energy

VSMPX
3.2%
VOO
3.0%

Real Estate

VSMPX
2.3%
VOO
1.8%

Utilities

VSMPX
2.2%
VOO
2.2%

Basic Materials

VSMPX
1.9%
VOO
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Total Stock Market Index Fund Institutional Plus Shares

Vanguard S&P 500 ETF

Often compared with VSMPX:
VSMPX vs. VTIVSMPX vs. TRLGXVSMPX vs. VITPXVSMPX vs. VTIVXVSMPX vs. VFIFXVSMPX vs. DODGXVSMPX vs. VBMPX
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. FXAIXVOO vs. SPYVOO vs. VGT

Return for Risk

VSMPX vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VSMPX
VSMPX Risk / Return Rank: 6464
Overall Rank
VSMPX Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
VSMPX Sortino Ratio Rank: 5858
Sortino Ratio Rank
VSMPX Omega Ratio Rank: 5757
Omega Ratio Rank
VSMPX Calmar Ratio Rank: 6666
Calmar Ratio Rank
VSMPX Martin Ratio Rank: 7878
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 6868
Overall Rank
VOO Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 6565
Sortino Ratio Rank
VOO Omega Ratio Rank: 6666
Omega Ratio Rank
VOO Calmar Ratio Rank: 6464
Calmar Ratio Rank
VOO Martin Ratio Rank: 7676
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.

VSMPX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) and Vanguard S&P 500 ETF (VOO). 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.

VSMPXVOODifference
Sharpe ratioReturn per unit of total volatility
1.43
1.53

-0.10

Sortino ratioReturn per unit of downside risk
2.01
2.13

-0.13

Omega ratioGain probability vs. loss probability

1.26

1.28

-0.02

Calmar ratioReturn relative to maximum drawdown

2.10

2.21

-0.10

Martin ratioReturn relative to average drawdown

9.09

9.44

-0.34

VSMPX vs. VOO - Sharpe Ratio Comparison

The current VSMPX Sharpe Ratio is 1.43, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of VSMPX and VOO, 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

VSMPX vs. VOO - Drawdown Comparison

The maximum VSMPX drawdown since its inception was -34.97%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VSMPX and VOO.

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Drawdown Indicators

VSMPXVOODifference

Max Drawdown

Largest peak-to-trough decline

-34.97%

-33.99%

-0.98%

Max Drawdown (1Y)

Largest decline over 1 year

-8.92%

-8.90%

-0.02%

Max Drawdown (3Y)

Largest decline over 3 years

-19.36%

-18.69%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-25.35%

-24.52%

-0.83%

Max Drawdown (10Y)

Largest decline over 10 years

-34.97%

-33.99%

-0.98%

Current Drawdown

Current decline from peak

-1.89%

-1.38%

-0.51%

Average Drawdown

Average peak-to-trough decline

-4.55%

-3.67%

-0.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.06%

2.08%

-0.02%

Volatility

VSMPX vs. VOO - Volatility Comparison

Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) and Vanguard S&P 500 ETF (VOO) have volatilities of 3.41% and 3.54%, 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

VSMPXVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.41%

3.54%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

10.27%

10.10%

+0.17%

Volatility (1Y)

Calculated over the trailing 1-year period

13.13%

12.82%

+0.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.47%

16.93%

+0.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.41%

18.01%

+0.40%

VSMPX vs. VOO - Expense Ratio Comparison

VSMPX has a 0.02% expense ratio, which is lower than VOO's 0.03% 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%.

Dividends

VSMPX vs. VOO - Dividend Comparison

VSMPX's dividend yield for the trailing twelve months is around 1.07%, which matches VOO's 1.07% yield.

PositionTTM20252024202320222021202020192018201720162015
VOO
Vanguard S&P 500 ETF		1.07%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%
VSMPX
Vanguard Total Stock Market Index Fund Institutional Plus Shares		1.07%1.13%1.27%1.43%1.67%1.22%1.43%1.78%2.05%1.73%1.95%0.00%

Frequently Asked Questions

With a correlation of 0.99, VSMPX and VOO 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.

VOO has higher volatility (3.54%) compared to VSMPX (3.41%). In terms of maximum drawdown, VSMPX dropped -34.97% vs VOO's -33.99%.

VOO currently has the higher Sharpe Ratio (1.53 vs 1.43), 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.

Portfolio Optimizer

Find the right allocation for VSMPX and VOO

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