VSPGX vs. VRGWX

Last updated Aug 5, 2026

VSPGX (Vanguard S&P 500 Growth Index Fund Institutional Shares) and VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds from Vanguard - VSPGX tracks the S&P 500 Growth Index while VRGWX tracks the Russell 1000 Growth Index. Both are passively managed. Over the past 5 years, VSPGX returned 13.55%/yr vs 12.97%/yr for VRGWX. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.

Performance

VSPGX vs. VRGWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSPGX achieves a 12.48% return, which is significantly higher than VRGWX's 2.47% return.

VSPGX

• 1D: 2.24%
• 1M: 1.98%
• 6M: 13.33%
• YTD: 12.48%
• 1Y: 22.00%
• 3Y*: 25.91%
• 5Y*: 13.55%
• 10Y*: —
• ALL TIME*: 18.10%

VRGWX

• 1D: 2.16%
• 1M: -0.32%
• 6M: 5.59%
• YTD: 2.47%
• 1Y: 10.34%
• 3Y*: 21.23%
• 5Y*: 12.97%
• 10Y*: 18.01%
• ALL TIME*: 16.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	$0.00	$0.00	$0.00
VSPGX Vanguard S&P 500 Growth Index Fund Institutional Shares	$0.00	$0.00	$0.00

VSPGX vs. VRGWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSPGX Vanguard S&P 500 Growth Index Fund Institutional Shares	12.48%	21.91%	35.48%	30.38%	-29.46%	31.88%	33.34%	31.06%	-0.05%	23.40%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	2.47%	18.32%	33.25%	42.65%	-29.18%	32.42%	38.38%	36.30%	-1.59%	25.88%

Correlation

The correlation between VSPGX and VRGWX is 0.97 - 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.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.99

The correlation between VSPGX and VRGWX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

VSPGX vs. VRGWX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSPGX

VSPGX Risk / Return Rank: 40
VSPGX Sharpe Ratio Rank: 41
VSPGX Sortino Ratio Rank: 40
VSPGX Omega Ratio Rank: 37
VSPGX Calmar Ratio Rank: 40
VSPGX Martin Ratio Rank: 42

VRGWX

VRGWX Risk / Return Rank: 17
VRGWX Sharpe Ratio Rank: 18
VRGWX Sortino Ratio Rank: 18
VRGWX Omega Ratio Rank: 17
VRGWX Calmar Ratio Rank: 15
VRGWX Martin Ratio Rank: 16

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.

VSPGX vs. VRGWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). 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.

	VSPGX	VRGWX	Difference
Sharpe ratio: Return per unit of total volatility	1.35	0.72	+0.64
Sortino ratio: Return per unit of downside risk	1.92	1.09	+0.83
Omega ratio: Gain probability vs. loss probability	1.24	1.13	+0.10
Calmar ratio: Return relative to maximum drawdown	1.79	0.78	+1.01
Martin ratio: Return relative to average drawdown	6.51	2.31	+4.20

VSPGX vs. VRGWX - Sharpe Ratio Comparison

The current VSPGX Sharpe Ratio is 1.35, which is higher than the VRGWX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of VSPGX and VRGWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VSPGX vs. VRGWX - Drawdown Comparison

The maximum VSPGX drawdown since its inception was -32.73%, roughly equal to the maximum VRGWX drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for VSPGX and VRGWX.

Drawdown Indicators

	VSPGX	VRGWX	Difference
Max Drawdown Largest peak-to-trough decline	-32.73%	-32.70%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-16.19%	+2.51%
Max Drawdown (3Y) Largest decline over 3 years	-22.34%	-23.44%	+1.10%
Max Drawdown (5Y) Largest decline over 5 years	-32.73%	-32.70%	-0.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.70%	—
Current Drawdown Current decline from peak	-2.24%	-5.98%	+3.74%
Average Drawdown Average peak-to-trough decline	-6.73%	-4.89%	-1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	5.42%	-1.67%

Volatility

VSPGX vs. VRGWX - Volatility Comparison

Vanguard S&P 500 Growth Index Fund Institutional Shares (VSPGX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) have volatilities of 6.37% and 6.70%, 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.

Volatility by Period

	VSPGX	VRGWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	6.70%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	14.20%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.11%	17.57%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	21.96%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	21.31%	+0.08%

VSPGX vs. VRGWX - Expense Ratio Comparison

Both VSPGX and VRGWX have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VSPGX vs. VRGWX - Dividend Comparison

VSPGX's dividend yield for the trailing twelve months is around 0.47%, less than VRGWX's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	0.48%	0.35%	0.56%	0.71%	0.99%	4.18%	0.77%	1.03%	1.22%	1.22%	1.52%	1.51%
VSPGX Vanguard S&P 500 Growth Index Fund Institutional Shares	0.47%	0.38%	0.50%	1.14%	0.95%	0.55%	0.89%	0.68%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSPGX and VRGWX in my portfolio?

With a correlation of 0.97, VSPGX and VRGWX 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.

Which is riskier, VSPGX or VRGWX?

VRGWX has higher volatility (6.70%) compared to VSPGX (6.37%). In terms of maximum drawdown, VSPGX dropped -32.73% vs VRGWX's -32.70%.

Which has better risk-adjusted returns?

VSPGX currently has the higher Sharpe Ratio (1.35 vs 0.72), 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.