VVIAX vs. OFVIX

Last updated Jun 26, 2026

VVIAX (Vanguard Value Index Fund Admiral Shares) and OFVIX (O'Shaughnessy Market Leaders Value Fund) are both Large Cap Value Equities funds. Over the past 5 years, VVIAX returned 12.09%/yr vs 12.99%/yr for OFVIX. Their correlation of 0.92 suggests significant overlap in exposure. VVIAX charges 0.05%/yr vs 0.56%/yr for OFVIX.

Performance

VVIAX vs. OFVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Value Index Fund Admiral Shares (VVIAX) and O'Shaughnessy Market Leaders Value Fund (OFVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VVIAX achieves a 14.54% return, which is significantly higher than OFVIX's 9.88% return.

VVIAX

• 1D: 0.11%
• 1M: 2.62%
• YTD: 14.54%
• 6M: 13.43%
• 1Y: 27.07%
• 3Y*: 18.67%
• 5Y*: 12.09%
• 10Y*: 12.94%

OFVIX

• 1D: 0.19%
• 1M: 1.46%
• YTD: 9.88%
• 6M: 8.45%
• 1Y: 21.50%
• 3Y*: 21.88%
• 5Y*: 12.99%
• 10Y*: —

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

VVIAX vs. OFVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VVIAX Vanguard Value Index Fund Admiral Shares	14.54%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%
OFVIX O'Shaughnessy Market Leaders Value Fund	9.88%	15.81%	23.70%	17.85%	-6.13%	30.49%	1.76%	35.06%	-12.95%	22.05%

Correlation

The correlation between VVIAX and OFVIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.92

The correlation between VVIAX and OFVIX has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

Return for Risk

VVIAX vs. OFVIX — Risk / Return Rank

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

VVIAX

VVIAX Risk / Return Rank: 88
VVIAX Sharpe Ratio Rank: 89
VVIAX Sortino Ratio Rank: 87
VVIAX Omega Ratio Rank: 81
VVIAX Calmar Ratio Rank: 91
VVIAX Martin Ratio Rank: 91

OFVIX

OFVIX Risk / Return Rank: 58
OFVIX Sharpe Ratio Rank: 48
OFVIX Sortino Ratio Rank: 48
OFVIX Omega Ratio Rank: 44
OFVIX Calmar Ratio Rank: 83
OFVIX Martin Ratio Rank: 64

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.

VVIAX vs. OFVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Value Index Fund Admiral Shares (VVIAX) and O'Shaughnessy Market Leaders Value Fund (OFVIX). 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.

	VVIAX	OFVIX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.69	+0.86
Sortino ratio: Return per unit of downside risk	3.64	2.41	+1.24
Omega ratio: Gain probability vs. loss probability	1.46	1.30	+0.16
Calmar ratio: Return relative to maximum drawdown	4.16	3.33	+0.83
Martin ratio: Return relative to average drawdown	15.63	10.62	+5.01

VVIAX vs. OFVIX - Sharpe Ratio Comparison

The current VVIAX Sharpe Ratio is 2.55, which is higher than the OFVIX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of VVIAX and OFVIX, 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

VVIAX vs. OFVIX - Drawdown Comparison

The maximum VVIAX drawdown since its inception was -59.32%, which is greater than OFVIX's maximum drawdown of -41.88%. Use the drawdown chart below to compare losses from any high point for VVIAX and OFVIX.

Drawdown Indicators

	VVIAX	OFVIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-41.88%	-17.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.36%	-6.26%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-14.39%	-19.04%	+4.65%
Max Drawdown (5Y) Largest decline over 5 years	-17.14%	-20.79%	+3.65%
Max Drawdown (10Y) Largest decline over 10 years	-36.80%	—	—
Current Drawdown Current decline from peak	-0.48%	-1.61%	+1.13%
Average Drawdown Average peak-to-trough decline	-9.59%	-5.25%	-4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.96%	-0.27%

Volatility

VVIAX vs. OFVIX - Volatility Comparison

Vanguard Value Index Fund Admiral Shares (VVIAX) and O'Shaughnessy Market Leaders Value Fund (OFVIX) have volatilities of 3.39% and 3.35%, 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.

Volatility by Period

	VVIAX	OFVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	3.35%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.92%	8.50%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	12.34%	-1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	16.65%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	20.11%	-3.39%

VVIAX vs. OFVIX - Expense Ratio Comparison

VVIAX has a 0.05% expense ratio, which is lower than OFVIX's 0.56% expense ratio.

Dividends

VVIAX vs. OFVIX - Dividend Comparison

VVIAX's dividend yield for the trailing twelve months is around 1.82%, less than OFVIX's 16.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OFVIX O'Shaughnessy Market Leaders Value Fund	16.86%	18.53%	15.22%	4.10%	7.88%	1.81%	2.15%	8.09%	7.74%	2.40%	0.00%	0.00%
VVIAX Vanguard Value Index Fund Admiral Shares	1.82%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both VVIAX and OFVIX in my portfolio?

VVIAX and OFVIX 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, VVIAX or OFVIX?

VVIAX has higher volatility (3.39%) compared to OFVIX (3.35%). In terms of maximum drawdown, VVIAX dropped -59.32% vs OFVIX's -41.88%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.55 vs 1.69), 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.