VTWG vs. VSCAX

Last updated Aug 4, 2026

VTWG (Vanguard Russell 2000 Growth ETF) and VSCAX (Invesco Small Cap Value Fund) are both funds - VTWG is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while VSCAX is a Small Cap Value Equities fund managed by Invesco. Over the past 10 years, VTWG returned 10.77%/yr vs 17.04%/yr for VSCAX. Their correlation of 0.83 means they have usually moved in the same direction. VTWG charges 0.06%/yr vs 1.12%/yr for VSCAX.

Performance

VTWG vs. VSCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth ETF (VTWG) and Invesco Small Cap Value Fund (VSCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWG achieves a 17.46% return, which is significantly lower than VSCAX's 22.92% return. Over the past 10 years, VTWG has underperformed VSCAX with an annualized return of 10.77%, while VSCAX has yielded a comparatively higher 17.04% annualized return.

VTWG

• 1D: 2.10%
• 1M: -2.12%
• 6M: 11.88%
• YTD: 17.46%
• 1Y: 33.76%
• 3Y*: 16.31%
• 5Y*: 5.73%
• 10Y*: 10.77%
• ALL TIME*: 11.91%

VSCAX

• 1D: 1.07%
• 1M: -3.62%
• 6M: 9.89%
• YTD: 22.92%
• 1Y: 44.67%
• 3Y*: 24.54%
• 5Y*: 19.78%
• 10Y*: 17.04%
• ALL TIME*: 12.41%

*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)
VSCAX Invesco Small Cap Value Fund	$0.00	$0.00	$0.00
VTWG Vanguard Russell 2000 Growth ETF	$5.94M	$5.47M	$5.78M

VTWG vs. VSCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	17.46%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	22.27%
VSCAX Invesco Small Cap Value Fund	22.92%	17.70%	24.54%	22.84%	4.31%	36.34%	10.81%	32.02%	-25.64%	18.17%

Correlation

The correlation between VTWG and VSCAX is 0.84, 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.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.83

The correlation between VTWG and VSCAX has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

VTWG vs. VSCAX — Risk / Return Rank

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

VTWG

VTWG Risk / Return Rank: 61
VTWG Sharpe Ratio Rank: 63
VTWG Sortino Ratio Rank: 62
VTWG Omega Ratio Rank: 55
VTWG Calmar Ratio Rank: 63
VTWG Martin Ratio Rank: 63

VSCAX

VSCAX Risk / Return Rank: 76
VSCAX Sharpe Ratio Rank: 75
VSCAX Sortino Ratio Rank: 66
VSCAX Omega Ratio Rank: 64
VSCAX Calmar Ratio Rank: 90
VSCAX Martin Ratio Rank: 84

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.

VTWG vs. VSCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth ETF (VTWG) and Invesco Small Cap Value Fund (VSCAX). 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.

	VTWG	VSCAX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.81	-0.31
Sortino ratio: Return per unit of downside risk	2.14	2.38	-0.25
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.28	3.48	-1.20
Martin ratio: Return relative to average drawdown	7.86	10.84	-2.97

VTWG vs. VSCAX - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.50, which is comparable to the VSCAX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of VTWG and VSCAX, 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

VTWG vs. VSCAX - Drawdown Comparison

The maximum VTWG drawdown since its inception was -42.07%, smaller than the maximum VSCAX drawdown of -57.77%. Use the drawdown chart below to compare losses from any high point for VTWG and VSCAX.

Drawdown Indicators

	VTWG	VSCAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-57.77%	+15.70%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-12.11%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-25.29%	-3.29%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-25.29%	-15.20%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-57.77%	+15.70%
Current Drawdown Current decline from peak	-3.93%	-8.74%	+4.81%
Average Drawdown Average peak-to-trough decline	-10.45%	-8.87%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	3.88%	+0.42%

Volatility

VTWG vs. VSCAX - Volatility Comparison

The current volatility for Vanguard Russell 2000 Growth ETF (VTWG) is 6.26%, while Invesco Small Cap Value Fund (VSCAX) has a volatility of 7.73%. This indicates that VTWG experiences smaller price fluctuations and is considered to be less risky than VSCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWG	VSCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	7.73%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	17.30%	18.55%	-1.25%
Volatility (1Y) Calculated over the trailing 1-year period	22.62%	23.31%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	23.43%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.28%	26.72%	-2.44%

VTWG vs. VSCAX - Expense Ratio Comparison

VTWG has a 0.06% expense ratio, which is lower than VSCAX's 1.12% expense ratio.

Dividends

VTWG vs. VSCAX - Dividend Comparison

VTWG's dividend yield for the trailing twelve months is around 0.60%, less than VSCAX's 7.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSCAX Invesco Small Cap Value Fund	7.50%	9.22%	7.90%	4.93%	10.12%	16.90%	0.30%	2.53%	28.45%	16.65%	1.71%	11.08%
VTWG Vanguard Russell 2000 Growth ETF	0.60%	0.64%	0.55%	0.79%	0.71%	0.54%	0.48%	0.72%	0.72%	0.64%	0.96%	0.72%

Frequently Asked Questions

Can I hold both VTWG and VSCAX in my portfolio?

VTWG and VSCAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWG or VSCAX?

VSCAX has higher volatility (7.73%) compared to VTWG (6.26%). In terms of maximum drawdown, VTWG dropped -42.07% vs VSCAX's -57.77%.

Which has better risk-adjusted returns?

VSCAX currently has the higher Sharpe Ratio (1.81 vs 1.50), 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.