VWICX vs. VZICX

Last updated Jun 24, 2026

VWICX (Vanguard International Core Stock Fund Investor Shares) and VZICX (Vanguard International Core Stock Fund Admiral Shares) are both Foreign Large Cap Equities funds from Vanguard. Over the past 5 years, VWICX returned 12.44%/yr vs 12.55%/yr for VZICX. With a 1.00 correlation, they move nearly in lockstep. VWICX charges 0.47%/yr vs 0.35%/yr for VZICX.

Performance

VWICX vs. VZICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard International Core Stock Fund Investor Shares (VWICX) and Vanguard International Core Stock Fund Admiral Shares (VZICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VWICX having a 16.13% return and VZICX slightly higher at 16.15%.

VWICX

• 1D: 0.20%
• 1M: 3.97%
• YTD: 16.13%
• 6M: 15.93%
• 1Y: 37.10%
• 3Y*: 23.68%
• 5Y*: 12.44%
• 10Y*: —

VZICX

• 1D: 0.15%
• 1M: 3.97%
• YTD: 16.15%
• 6M: 15.95%
• 1Y: 37.18%
• 3Y*: 23.80%
• 5Y*: 12.55%
• 10Y*: —

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

VWICX vs. VZICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VWICX Vanguard International Core Stock Fund Investor Shares	16.13%	38.41%	8.62%	14.30%	-10.76%	11.70%	9.12%	7.42%
VZICX Vanguard International Core Stock Fund Admiral Shares	16.15%	38.55%	8.74%	14.35%	-10.62%	11.85%	9.23%	7.37%

Correlation

The correlation between VWICX and VZICX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 24, 2019	1.00

The correlation between VWICX and VZICX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

VWICX vs. VZICX — Risk / Return Rank

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

VWICX

VWICX Risk / Return Rank: 78
VWICX Sharpe Ratio Rank: 80
VWICX Sortino Ratio Rank: 73
VWICX Omega Ratio Rank: 77
VWICX Calmar Ratio Rank: 81
VWICX Martin Ratio Rank: 77

VZICX

VZICX Risk / Return Rank: 78
VZICX Sharpe Ratio Rank: 81
VZICX Sortino Ratio Rank: 73
VZICX Omega Ratio Rank: 77
VZICX Calmar Ratio Rank: 81
VZICX Martin Ratio Rank: 78

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.

VWICX vs. VZICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard International Core Stock Fund Investor Shares (VWICX) and Vanguard International Core Stock Fund Admiral Shares (VZICX). 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.

	VWICX	VZICX	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.43	-0.01
Sortino ratio: Return per unit of downside risk	3.25	3.25	-0.01
Omega ratio: Gain probability vs. loss probability	1.46	1.46	0.00
Calmar ratio: Return relative to maximum drawdown	3.49	3.51	-0.02
Martin ratio: Return relative to average drawdown	13.52	13.61	-0.09

VWICX vs. VZICX - Sharpe Ratio Comparison

The current VWICX Sharpe Ratio is 2.43, which is comparable to the VZICX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of VWICX and VZICX, 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

VWICX vs. VZICX - Drawdown Comparison

The maximum VWICX drawdown since its inception was -34.37%, roughly equal to the maximum VZICX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for VWICX and VZICX.

Drawdown Indicators

	VWICX	VZICX	Difference
Max Drawdown Largest peak-to-trough decline	-34.37%	-34.37%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-10.81%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.28%	-13.30%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.94%	-24.89%	-0.05%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.71%	-5.67%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.78%	+0.01%

Volatility

VWICX vs. VZICX - Volatility Comparison

Vanguard International Core Stock Fund Investor Shares (VWICX) and Vanguard International Core Stock Fund Admiral Shares (VZICX) have volatilities of 6.40% and 6.42%, 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

	VWICX	VZICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	6.42%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	13.41%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.63%	15.63%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	15.47%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.00%	17.99%	+0.01%

VWICX vs. VZICX - Expense Ratio Comparison

VWICX has a 0.47% expense ratio, which is higher than VZICX's 0.35% expense ratio.

Dividends

VWICX vs. VZICX - Dividend Comparison

VWICX's dividend yield for the trailing twelve months is around 3.73%, less than VZICX's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
VWICX Vanguard International Core Stock Fund Investor Shares	3.73%	4.33%	2.58%	2.10%	1.99%	4.27%	1.80%	0.11%
VZICX Vanguard International Core Stock Fund Admiral Shares	3.80%	4.41%	2.65%	2.20%	2.10%	4.37%	1.89%	0.11%

Frequently Asked Questions

Can I hold both VWICX and VZICX in my portfolio?

With a correlation of 1.00, VWICX and VZICX 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.

Which is riskier, VWICX or VZICX?

VZICX has higher volatility (6.42%) compared to VWICX (6.40%). In terms of maximum drawdown, VWICX dropped -34.37% vs VZICX's -34.37%.

Which has better risk-adjusted returns?

VZICX currently has the higher Sharpe Ratio (2.43 vs 2.42), 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.