VSPVX vs. VIIIX
Compare and contrast key facts about Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX).
VSPVX is managed by Vanguard. It was launched on Mar 3, 2015. VIIIX is managed by Vanguard. It was launched on Jul 7, 1997.
Performance
VSPVX vs. VIIIX - Performance Comparison
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VSPVX vs. VIIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares | -1.68% | 12.62% | 11.99% | 22.39% | -5.33% | 24.80% | 1.23% | 31.84% | -9.02% | 15.28% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | -7.06% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
Returns By Period
In the year-to-date period, VSPVX achieves a -1.68% return, which is significantly higher than VIIIX's -7.06% return. Over the past 10 years, VSPVX has underperformed VIIIX with an annualized return of 11.12%, while VIIIX has yielded a comparatively higher 13.82% annualized return.
VSPVX
- 1D
- 0.05%
- 1M
- -6.20%
- YTD
- -1.68%
- 6M
- 1.45%
- 1Y
- 10.96%
- 3Y*
- 13.01%
- 5Y*
- 10.12%
- 10Y*
- 11.12%
VIIIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.06%
- 6M
- -4.59%
- 1Y
- 14.44%
- 3Y*
- 17.57%
- 5Y*
- 11.54%
- 10Y*
- 13.82%
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VSPVX vs. VIIIX - Expense Ratio Comparison
VSPVX has a 0.08% expense ratio, which is higher than VIIIX's 0.02% 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
VSPVX vs. VIIIX — Risk / Return Rank
VSPVX
VIIIX
VSPVX vs. VIIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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.
| VSPVX | VIIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.78 | 0.84 | -0.06 |
Sortino ratioReturn per unit of downside risk | 1.17 | 1.30 | -0.13 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.85 | 1.06 | -0.21 |
Martin ratioReturn relative to average drawdown | 4.06 | 5.14 | -1.08 |
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
| VSPVX | VIIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.84 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.69 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.77 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.46 | +0.13 |
Correlation
The correlation between VSPVX and VIIIX is 0.88, 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
VSPVX vs. VIIIX - Dividend Comparison
VSPVX's dividend yield for the trailing twelve months is around 1.85%, less than VIIIX's 2.90% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares | 1.85% | 1.35% | 2.12% | 1.70% | 2.21% | 1.88% | 2.46% | 2.12% | 2.73% | 2.18% | 2.30% | 2.47% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.90% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
Drawdowns
VSPVX vs. VIIIX - Drawdown Comparison
The maximum VSPVX drawdown since its inception was -37.05%, smaller than the maximum VIIIX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for VSPVX and VIIIX.
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Drawdown Indicators
| VSPVX | VIIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.05% | -55.18% | +18.13% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -12.12% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | -24.50% | +6.50% |
Max Drawdown (10Y)Largest decline over 10 years | -37.05% | -33.79% | -3.26% |
Current DrawdownCurrent decline from peak | -6.20% | -8.90% | +2.70% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -10.07% | +5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 2.49% | +0.05% |
Volatility
VSPVX vs. VIIIX - Volatility Comparison
The current volatility for Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) is 3.27%, while Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) has a volatility of 4.24%. This indicates that VSPVX experiences smaller price fluctuations and is considered to be less risky than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSPVX | VIIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 4.24% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 9.08% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.51% | 18.13% | -2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.47% | 16.85% | -2.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.08% | 18.02% | -0.94% |