VSMSX vs. VIGAX
VSMSX (Vanguard S&P Small-Cap 600 Index Fund Institutional Shares) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both mutual funds - VSMSX is a Small Cap Blend Equities fund managed by Vanguard, while VIGAX is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Over the past 10 years, VSMSX returned 10.89%/yr vs 17.50%/yr for VIGAX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. VSMSX charges 0.08%/yr vs 0.05%/yr for VIGAX.
Performance
VSMSX vs. VIGAX - Performance Comparison
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Returns By Period
In the year-to-date period, VSMSX achieves a 23.59% return, which is significantly higher than VIGAX's 7.34% return. Over the past 10 years, VSMSX has underperformed VIGAX with an annualized return of 10.89%, while VIGAX has yielded a comparatively higher 17.50% annualized return.
VSMSX
- 1D
- 1.68%
- 1M
- 0.98%
- 6M
- 15.85%
- YTD
- 23.59%
- 1Y
- 35.99%
- 3Y*
- 14.56%
- 5Y*
- 8.10%
- 10Y*
- 10.89%
- ALL TIME*
- 12.08%
VIGAX
- 1D
- 2.23%
- 1M
- 1.73%
- 6M
- 10.64%
- YTD
- 7.34%
- 1Y
- 15.69%
- 3Y*
- 23.27%
- 5Y*
- 12.53%
- 10Y*
- 17.50%
- ALL TIME*
- 9.70%
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 |
VSMSX vs. VIGAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMSX Vanguard S&P Small-Cap 600 Index Fund Institutional Shares | 23.59% | 6.04% | 7.20% | 17.57% | -16.19% | 26.72% | 11.46% | 22.73% | -8.51% | 13.39% |
VIGAX Vanguard Growth Index Fund Admiral Shares | 7.34% | 19.43% | 32.67% | 46.76% | -33.14% | 27.26% | 40.18% | 37.23% | -3.35% | 27.80% |
Correlation
The correlation between VSMSX and VIGAX is 0.55, 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. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012 | 0.70 |
The correlation between VSMSX and VIGAX shifts across timeframes, from 0.55 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VSMSX vs. VIGAX — Risk / Return Rank
VSMSX
VIGAX
VSMSX vs. VIGAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). 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.
| VSMSX | VIGAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.18 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 1.09 | +3.32 |
| Martin ratioReturn relative to average drawdown | 15.13 | 3.47 | +11.66 |
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Drawdowns
VSMSX vs. VIGAX - Drawdown Comparison
The maximum VSMSX drawdown since its inception was -44.42%, smaller than the maximum VIGAX drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for VSMSX and VIGAX.
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Drawdown Indicators
| VSMSX | VIGAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.42% | -50.66% | +6.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.69% | -16.51% | +7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -27.93% | -23.04% | -4.89% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -35.63% | +7.70% |
Max Drawdown (10Y)Largest decline over 10 years | -44.42% | -35.63% | -8.79% |
Current DrawdownCurrent decline from peak | -0.25% | -3.42% | +3.17% |
Average DrawdownAverage peak-to-trough decline | -7.34% | -11.91% | +4.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 5.17% | -2.64% |
Volatility
VSMSX vs. VIGAX - Volatility Comparison
The current volatility for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) is 3.77%, while Vanguard Growth Index Fund Admiral Shares (VIGAX) has a volatility of 5.95%. This indicates that VSMSX experiences smaller price fluctuations and is considered to be less risky than VIGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMSX | VIGAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 5.95% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 14.39% | -2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.36% | 17.82% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.34% | 22.65% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.16% | 21.71% | +1.45% |
VSMSX vs. VIGAX - Expense Ratio Comparison
VSMSX has a 0.08% expense ratio, which is higher than VIGAX's 0.05% 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
VSMSX vs. VIGAX - Dividend Comparison
VSMSX's dividend yield for the trailing twelve months is around 1.13%, more than VIGAX's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIGAX Vanguard Growth Index Fund Admiral Shares | 0.38% | 0.40% | 0.46% | 0.57% | 0.69% | 0.47% | 0.66% | 0.94% | 1.31% | 1.14% | 1.39% | 1.31% |
VSMSX Vanguard S&P Small-Cap 600 Index Fund Institutional Shares | 1.13% | 1.39% | 1.49% | 1.47% | 1.52% | 1.17% | 1.10% | 1.38% | 1.39% | 1.11% | 1.00% | 1.33% |
Frequently Asked Questions
VSMSX and VIGAX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIGAX has higher volatility (5.95%) compared to VSMSX (3.77%). In terms of maximum drawdown, VSMSX dropped -44.42% vs VIGAX's -50.66%.
VSMSX currently has the higher Sharpe Ratio (2.21 vs 1.01), 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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