VSPMX vs. ATGAX

Last updated Jun 23, 2026

VSPMX (Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares) and ATGAX (Aquila Opportunity Growth Fund) are both Mid Cap Blend Equities funds. A 0.79 correlation means they provide meaningful diversification when combined. VSPMX charges 0.08%/yr vs 1.50%/yr for ATGAX.

Performance

VSPMX vs. ATGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) and Aquila Opportunity Growth Fund (ATGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VSPMX

• 1D: 1.14%
• 1M: 3.34%
• YTD: 15.40%
• 6M: 12.94%
• 1Y: 27.05%
• 3Y*: 15.24%
• 5Y*: 9.27%
• 10Y*: 11.38%

ATGAX

• 1D: 0.90%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VSPMX vs. ATGAX - Yearly Performance Comparison

	2026 (YTD)
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares	2.17%
ATGAX Aquila Opportunity Growth Fund	2.38%

Correlation

The correlation between VSPMX and ATGAX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.79

Return for Risk

VSPMX vs. ATGAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VSPMX

VSPMX Risk / Return Rank: 50
VSPMX Sharpe Ratio Rank: 41
VSPMX Sortino Ratio Rank: 42
VSPMX Omega Ratio Rank: 38
VSPMX Calmar Ratio Rank: 70
VSPMX Martin Ratio Rank: 60

ATGAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VSPMX vs. ATGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) and Aquila Opportunity Growth Fund (ATGAX). 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.

	VSPMX	ATGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.09	—	—
Martin ratio: Return relative to average drawdown	11.27	—	—

Drawdowns

VSPMX vs. ATGAX - Drawdown Comparison

The maximum VSPMX drawdown since its inception was -42.04%, which is greater than ATGAX's maximum drawdown of -3.70%. Use the drawdown chart below to compare losses from any high point for VSPMX and ATGAX.

Drawdown Indicators

	VSPMX	ATGAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.04%	-3.70%	-38.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.04%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.70%	+0.28%
Average Drawdown Average peak-to-trough decline	-5.08%	-0.99%	-4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	—	—

Volatility

Volatility by Period

	VSPMX	ATGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	19.52%	-3.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	19.52%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.04%	19.52%	+1.52%

VSPMX vs. ATGAX - Expense Ratio Comparison

VSPMX has a 0.08% expense ratio, which is lower than ATGAX's 1.50% expense ratio.

Dividends

VSPMX vs. ATGAX - Dividend Comparison

VSPMX's dividend yield for the trailing twelve months is around 1.21%, while ATGAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares	1.21%	1.07%	1.32%	1.26%	1.59%	1.15%	1.24%	1.49%	1.64%	1.27%	1.54%	1.52%

Frequently Asked Questions

Can I hold both VSPMX and ATGAX in my portfolio?

VSPMX and ATGAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.