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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vanguard Total Bond Market Index Fund Institutional Plus Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) has returned -0.49% so far this year and 3.78% over the past 12 months. Over the last ten years, VBMPX has returned 1.60% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Vanguard Total Bond Market Index Fund Institutional Plus Shares
- 1D
- 0.52%
- 1M
- -2.23%
- YTD
- -0.49%
- 6M
- 0.50%
- 1Y
- 3.78%
- 3Y*
- 3.46%
- 5Y*
- 0.25%
- 10Y*
- 1.60%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 5, 2010, VBMPX's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, your investment would double in approximately 28.9 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2023 with a return of +4.5%, while the worst month was Sep 2022 at -4.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, VBMPX closed higher 45% of trading days. The best single day was Nov 10, 2022 with a return of +2.0%, while the worst single day was Mar 17, 2020 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.23% | 1.54% | -2.23% | -0.49% | |||||||||
| 2025 | 0.64% | 2.10% | 0.02% | 0.43% | -0.70% | 1.59% | -0.29% | 1.17% | 1.05% | 0.64% | 0.63% | -0.28% | 7.18% |
| 2024 | -0.22% | -1.38% | 0.83% | -2.43% | 1.71% | 0.94% | 2.32% | 1.34% | 1.32% | -2.43% | 1.15% | -1.75% | 1.27% |
| 2023 | 3.20% | -2.54% | 2.57% | 0.56% | -1.08% | -0.36% | -0.04% | -0.57% | -2.48% | -1.56% | 4.52% | 3.71% | 5.75% |
| 2022 | -2.16% | -1.12% | -2.81% | -3.84% | 0.59% | -1.49% | 2.32% | -2.76% | -4.17% | -1.37% | 3.70% | -0.60% | -13.14% |
| 2021 | -0.95% | -1.65% | -1.36% | 0.97% | 0.25% | 0.78% | 1.22% | -0.19% | -0.90% | -0.02% | 0.34% | -0.40% | -1.95% |
Benchmark Metrics
Vanguard Total Bond Market Index Fund Institutional Plus Shares has an annualized alpha of 2.86%, beta of -0.04, and R² of 0.02 versus S&P 500 Index. Calculated based on daily prices since February 08, 2010.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (9.86%) than losses (6.31%) — typical of diversified or defensive assets.
- Beta of -0.04 may look defensive, but with R² of 0.02 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.02 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.86%
- Beta
- -0.04
- R²
- 0.02
- Upside Capture
- 9.86%
- Downside Capture
- 6.31%
Expense Ratio
VBMPX has an expense ratio of 0.03%, which is considered low.
Return for Risk
Risk / Return Rank
VBMPX ranks 53 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) and compare them to a chosen benchmark (S&P 500 Index).
| VBMPX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.90 | +0.11 |
Sortino ratioReturn per unit of downside risk | 1.45 | 1.39 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.40 | +0.39 |
Martin ratioReturn relative to average drawdown | 5.11 | 6.61 | -1.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore VBMPX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Vanguard Total Bond Market Index Fund Institutional Plus Shares provided a 3.63% dividend yield over the last twelve months, with an annual payout of $0.35 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.35 | $0.38 | $0.35 | $0.30 | $0.25 | $0.20 | $0.28 | $0.30 | $0.27 | $0.28 | $0.27 | $0.30 |
Dividend yield | 3.63% | 3.88% | 3.69% | 3.11% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.58% | 2.55% | 2.85% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Total Bond Market Index Fund Institutional Plus Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.03 | $0.00 | $0.06 | |||||||||
| 2025 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.38 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.04 | $0.20 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Total Bond Market Index Fund Institutional Plus Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Total Bond Market Index Fund Institutional Plus Shares was 18.90%, occurring on Oct 24, 2022. The portfolio has not yet recovered.
The current Vanguard Total Bond Market Index Fund Institutional Plus Shares drawdown is 3.13%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.9% | Aug 5, 2020 | 560 | Oct 24, 2022 | — | — | — |
| -6.53% | Mar 9, 2020 | 9 | Mar 19, 2020 | 57 | Jun 10, 2020 | 66 |
| -4.97% | May 2, 2013 | 88 | Sep 5, 2013 | 168 | May 7, 2014 | 256 |
| -4.69% | Jul 11, 2016 | 112 | Dec 15, 2016 | 178 | Aug 31, 2017 | 290 |
| -4.11% | Nov 5, 2010 | 65 | Feb 8, 2011 | 77 | May 31, 2011 | 142 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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