VTSIX vs. IPSIX
VTSIX (Vanguard Tax-Managed Small-Cap Fund Institutional Shares) and IPSIX (Voya Index Plus SmallCap Portfolio) are both Small Cap Blend Equities funds. Over the past 10 years, VTSIX returned 10.78%/yr vs 10.27%/yr for IPSIX. Their 0.98 correlation means they have historically moved very closely together. VTSIX charges 0.06%/yr vs 0.60%/yr for IPSIX.
Performance
VTSIX vs. IPSIX - Performance Comparison
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Returns By Period
In the year-to-date period, VTSIX achieves a 21.95% return, which is significantly lower than IPSIX's 23.34% return. Both investments have delivered pretty close results over the past 10 years, with VTSIX having a 10.78% annualized return and IPSIX not far behind at 10.27%.
VTSIX
- 1D
- 0.86%
- 1M
- -0.56%
- 6M
- 15.50%
- YTD
- 21.95%
- 1Y
- 36.17%
- 3Y*
- 13.34%
- 5Y*
- 7.55%
- 10Y*
- 10.78%
- ALL TIME*
- 10.41%
IPSIX
- 1D
- 0.66%
- 1M
- 0.12%
- 6M
- 17.88%
- YTD
- 23.34%
- 1Y
- 37.90%
- 3Y*
- 14.94%
- 5Y*
- 9.48%
- 10Y*
- 10.27%
- ALL TIME*
- 8.45%
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 |
VTSIX vs. IPSIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 21.95% | 5.96% | 8.64% | 15.99% | -16.14% | 27.12% | 11.09% | 23.30% | -8.59% | 13.08% |
IPSIX Voya Index Plus SmallCap Portfolio | 23.34% | 8.46% | 8.64% | 18.17% | -13.82% | 28.42% | 5.25% | 21.07% | -12.34% | 9.94% |
Correlation
The correlation between VTSIX and IPSIX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 1999 | 0.98 |
The correlation between VTSIX and IPSIX has been stable across timeframes, ranging from 0.90 to 0.98 - a consistent structural relationship.
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Return for Risk
VTSIX vs. IPSIX — Risk / Return Rank
VTSIX
IPSIX
VTSIX vs. IPSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) and Voya Index Plus SmallCap Portfolio (IPSIX). 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.
| VTSIX | IPSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 5.24 | -1.45 |
| Martin ratioReturn relative to average drawdown | 12.90 | 17.76 | -4.86 |
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Drawdowns
VTSIX vs. IPSIX - Drawdown Comparison
The maximum VTSIX drawdown since its inception was -57.81%, roughly equal to the maximum IPSIX drawdown of -58.01%. Use the drawdown chart below to compare losses from any high point for VTSIX and IPSIX.
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Drawdown Indicators
| VTSIX | IPSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.81% | -58.01% | +0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -7.63% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -27.92% | -26.60% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -27.92% | -26.60% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -43.86% | -47.92% | +4.06% |
Current DrawdownCurrent decline from peak | -1.82% | -1.29% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -9.66% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.24% | +0.29% |
Volatility
VTSIX vs. IPSIX - Volatility Comparison
Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) and Voya Index Plus SmallCap Portfolio (IPSIX) have volatilities of 3.48% and 3.53%, 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.
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Volatility by Period
| VTSIX | IPSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.53% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.66% | 11.56% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 17.13% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 21.86% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.06% | 23.69% | -0.63% |
VTSIX vs. IPSIX - Expense Ratio Comparison
VTSIX has a 0.06% expense ratio, which is lower than IPSIX's 0.60% expense ratio.
Dividends
VTSIX vs. IPSIX - Dividend Comparison
VTSIX's dividend yield for the trailing twelve months is around 1.22%, less than IPSIX's 8.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPSIX Voya Index Plus SmallCap Portfolio | 8.86% | 5.72% | 4.44% | 4.20% | 19.88% | 0.65% | 1.98% | 16.87% | 18.12% | 9.69% | 3.19% | 0.93% |
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 1.22% | 1.31% | 1.47% | 1.52% | 1.54% | 1.19% | 1.11% | 1.17% | 1.29% | 1.13% | 1.03% | 1.30% |
Frequently Asked Questions
With a correlation of 0.90, VTSIX and IPSIX 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.
IPSIX has higher volatility (3.53%) compared to VTSIX (3.48%). In terms of maximum drawdown, VTSIX dropped -57.81% vs IPSIX's -58.01%.
IPSIX currently has the higher Sharpe Ratio (2.34 vs 1.87), 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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