- ISIN
- US9220208543
- Issuer
- Vanguard
- Inception Date
- Jun 19, 2015
- Category
- Short-Term Bond
- Min. Investment
- $10,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
VIITX Performance Chart
Vanguard Institutional Intermediate-Term Bond Fund (VIITX) is up 0.4% since the beginning of the year. VIITX is currently trading at $21 per share. Investors who bought $1,000 worth of VIITX shares 5 years ago would now be looking at an investment worth $1,068.
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Returns By Period
Vanguard Institutional Intermediate-Term Bond Fund (VIITX) has returned 0.41% so far this year and 2.88% over the past 12 months. Over the last ten years, VIITX has returned 2.04% per year, falling short of the S&P 500 Index benchmark, which averaged 13.49% annually.
Vanguard Institutional Intermediate-Term Bond Fund
- 1D
- 0.17%
- 1M
- -0.35%
- 6M
- 0.12%
- YTD
- 0.41%
- 1Y
- 2.88%
- 3Y*
- 4.94%
- 5Y*
- 1.33%
- 10Y*
- 2.04%
- ALL TIME*
- 2.23%
Benchmark (S&P 500 Index)
- 1D
- 1.79%
- 1M
- 2.64%
- 6M
- 12.40%
- YTD
- 13.02%
- 1Y
- 22.82%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
VIITX Monthly Returns History
Based on dividend-adjusted daily data since Nov 3, 2015, VIITX's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 62% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +3.1%, while the worst month was Sep 2022 at -2.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 9 months.
On a daily basis, VIITX closed higher 47% of trading days. The best single day was Nov 10, 2022 with a return of +1.4%, while the worst single day was Jun 13, 2022 at -1.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.32% | 1.12% | -1.30% | 0.34% | 0.18% | 0.15% | -0.56% | 0.17% | 0.41% | ||||
| 2025 | 0.62% | 1.40% | 0.29% | 0.70% | -0.31% | 1.18% | -0.03% | 1.18% | 0.65% | 0.48% | 0.65% | 0.19% | 7.23% |
| 2024 | 0.16% | -0.93% | 0.69% | -1.45% | 1.34% | 0.79% | 1.95% | 1.21% | 1.09% | -1.31% | 0.74% | -0.61% | 3.67% |
| 2023 | 2.02% | -1.71% | 1.95% | 0.51% | -0.64% | -0.46% | 0.32% | -0.15% | -1.40% | -0.77% | 3.14% | 2.51% | 5.31% |
| 2022 | -1.26% | -0.75% | -2.19% | -1.97% | 0.78% | -1.13% | 1.70% | -1.94% | -2.91% | -0.67% | 2.32% | -0.13% | -7.99% |
| 2021 | -0.15% | -0.72% | -0.55% | 0.51% | 0.50% | -0.04% | 0.55% | -0.12% | -0.38% | -0.46% | -0.03% | -0.13% | -1.02% |
Benchmark Metrics
Vanguard Institutional Intermediate-Term Bond Fund has an annualized alpha of 2.24%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since November 03, 2015.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (9.33%) than losses (6.68%) - typical of diversified or defensive assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 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 0.00 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
- 2.24%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 9.33%
- Downside Capture
- 6.68%
Expense Ratio
VIITX has an expense ratio of 0.02%, which is considered low.
Return for Risk
Risk / Return Rank
VIITX ranks 32 for risk / return — above 32% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Vanguard Institutional Intermediate-Term Bond Fund (VIITX) and compare them to S&P 500 Index.
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.
| VIITX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 2.45 | -0.87 |
| Martin ratioReturn relative to average drawdown | 4.38 | 10.40 | -6.02 |
Dividends
Dividend History
Vanguard Institutional Intermediate-Term Bond Fund provided a 4.61% dividend yield over the last twelve months, with an annual payout of $0.98 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.98 | $0.98 | $1.00 | $0.77 | $0.45 | $0.51 | $0.69 | $0.63 | $0.59 | $0.47 | $0.68 | $0.13 |
Dividend yield | 4.61% | 4.51% | 4.71% | 3.61% | 2.14% | 2.20% | 2.87% | 2.69% | 2.62% | 2.04% | 2.95% | 0.57% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Institutional Intermediate-Term Bond Fund. 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 | $0.00 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.57 | ||||
| 2025 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.98 |
| 2024 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.15 | $0.08 | $0.08 | $1.00 |
| 2023 | $0.06 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.08 | $0.77 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.45 |
| 2021 | $0.01 | $0.03 | $0.03 | $0.02 | $0.10 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 | $0.51 |
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 Institutional Intermediate-Term Bond Fund. 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 Institutional Intermediate-Term Bond Fund was 11.86%, occurring on Oct 20, 2022. Recovery took 471 trading sessions.
The current Vanguard Institutional Intermediate-Term Bond Fund drawdown is 1.02%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-11.86%Oct 2022 | 1y 2mo | 1y 10mo | 3y 1moAug 2021 - Sep 2024 | Bear market2022 |
-3.40%Mar 2020 | 9d | 27d | 1mo 6dMar 2020 - Apr 2020 | COVID crash2020 |
-2.89%Dec 2016 | 2mo 16d | 7mo 29d | 10mo 15dSep 2016 - Aug 2017 | — |
-2.56%May 2018 | 8mo 10d | 7mo 19d | 1y 3moSep 2017 - Dec 2018 | — |
-2.17%Jan 2025 | 3mo 28d | 1mo 13d | 5mo 11dSep 2024 - Feb 2025 | — |
Drawdown Indicators
| VIITX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.86% | -56.78% | +44.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.89% | -9.10% | +7.21% |
Max Drawdown (3Y)Largest decline over 3 years | -2.89% | -18.90% | +16.01% |
Max Drawdown (5Y)Largest decline over 5 years | -11.71% | -25.43% | +13.72% |
Max Drawdown (10Y)Largest decline over 10 years | -11.86% | -33.92% | +22.06% |
Current DrawdownCurrent decline from peak | -1.02% | 0.00% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -10.70% | +8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 2.14% | -1.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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