VSPMX vs. VOO
Compare and contrast key facts about Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) and Vanguard S&P 500 ETF (VOO).
VSPMX is managed by Vanguard. It was launched on Mar 28, 2011. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.
Performance
VSPMX vs. VOO - Performance Comparison
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VSPMX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | -0.37% | 7.11% | 12.83% | 17.42% | -13.12% | 24.66% | 13.53% | 26.12% | -11.14% | 16.18% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, VSPMX achieves a -0.37% return, which is significantly higher than VOO's -4.42% return. Over the past 10 years, VSPMX has underperformed VOO with an annualized return of 10.11%, while VOO has yielded a comparatively higher 14.05% annualized return.
VSPMX
- 1D
- -0.82%
- 1M
- -8.03%
- YTD
- -0.37%
- 6M
- 1.27%
- 1Y
- 14.05%
- 3Y*
- 10.85%
- 5Y*
- 6.18%
- 10Y*
- 10.11%
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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VSPMX vs. VOO - Expense Ratio Comparison
VSPMX has a 0.08% expense ratio, which is higher than VOO's 0.03% 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%.
Return for Risk
VSPMX vs. VOO — Risk / Return Rank
VSPMX
VOO
VSPMX vs. VOO - 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 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.
| VSPMX | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | 0.98 | -0.29 |
Sortino ratioReturn per unit of downside risk | 1.11 | 1.50 | -0.39 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.23 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.53 | -0.67 |
Martin ratioReturn relative to average drawdown | 3.77 | 7.29 | -3.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VSPMX | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 0.98 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.70 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.78 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.83 | -0.25 |
Correlation
The correlation between VSPMX and VOO is 0.86, 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.
Dividends
VSPMX vs. VOO - Dividend Comparison
VSPMX's dividend yield for the trailing twelve months is around 1.40%, more than VOO's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSPMX Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares | 1.40% | 1.07% | 1.32% | 1.26% | 1.59% | 1.15% | 1.24% | 1.49% | 1.64% | 1.27% | 1.54% | 1.52% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
VSPMX vs. VOO - Drawdown Comparison
The maximum VSPMX drawdown since its inception was -42.04%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VSPMX and VOO.
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Drawdown Indicators
| VSPMX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.04% | -33.99% | -8.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.10% | -11.98% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -24.27% | -24.52% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -42.04% | -33.99% | -8.05% |
Current DrawdownCurrent decline from peak | -8.82% | -6.29% | -2.53% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -3.72% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.52% | +0.72% |
Volatility
VSPMX vs. VOO - Volatility Comparison
Vanguard S&P Mid-Cap 400 Index Fund Institutional Shares (VSPMX) has a higher volatility of 5.75% compared to Vanguard S&P 500 ETF (VOO) at 5.29%. This indicates that VSPMX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSPMX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 5.29% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.48% | 9.44% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.83% | 18.10% | +2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 16.82% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 17.99% | +2.98% |