- CUSIP
- 922020763
- Issuer
- Vanguard
- Inception Date
- Oct 12, 2021
- Category
- Multisector Bonds
- Min. Investment
- $50,000
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
VMSAX Performance Chart
Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) is up 1.3% since the beginning of the year. VMSAX is currently trading at $18 per share.
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Returns By Period
Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) has returned 1.30% so far this year and 6.48% over the past 12 months.
Vanguard Multi-Sector Income Bond Fund Admiral Shares
- 1D
- 0.11%
- 1M
- 0.69%
- YTD
- 1.30%
- 6M
- 1.52%
- 1Y
- 6.48%
- 3Y*
- 7.80%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VMSAX Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2022, VMSAX's average daily return is +0.08%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Nov 2023 with a return of +4.4%, while the worst month was Jun 2022 at -4.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, VMSAX closed higher 51% of trading days. The best single day was Dec 2, 2025 with a return of +121.3%, while the worst single day was Dec 1, 2025 at -54.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.32% | 0.69% | -1.55% | 1.25% | 0.51% | 0.09% | 1.30% | ||||||
| 2025 | 1.09% | 1.17% | -0.38% | 0.22% | 0.89% | 1.69% | 0.39% | 1.24% | 0.77% | 0.50% | 0.65% | 0.50% | 9.08% |
| 2024 | 0.01% | -0.14% | 1.24% | -1.30% | 1.50% | 0.80% | 1.97% | 1.67% | 1.46% | -0.86% | 1.20% | -0.81% | 6.86% |
| 2023 | 3.37% | -1.95% | 2.15% | 0.64% | -0.82% | 0.88% | 1.13% | -0.36% | -1.70% | -1.04% | 4.44% | 3.56% | 10.53% |
| 2022 | -1.88% | -1.61% | -3.75% | 1.20% | -4.67% | 4.31% | -2.28% | -4.14% | 1.26% | 3.62% | -0.35% | -8.42% |
Benchmark Metrics
Vanguard Multi-Sector Income Bond Fund Admiral Shares has an annualized alpha of 18.78%, beta of 0.17, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 01, 2022.
- This fund participated in 37.63% of S&P 500 Index downside but only 28.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.17 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
- 18.78%
- Beta
- 0.17
- R²
- 0.00
- Upside Capture
- 28.56%
- Downside Capture
- 37.63%
Expense Ratio
VMSAX has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VMSAX ranks 25 for risk / return — below 25% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Multi-Sector Income Bond Fund Admiral Shares (VMSAX) 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.
| VMSAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 2.10 | 1.37 | +0.73 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | 2.78 | -2.66 |
| Martin ratioReturn relative to average drawdown | 1.90 | 12.44 | -10.54 |
Dividends
Dividend History
Vanguard Multi-Sector Income Bond Fund Admiral Shares provided a 5.54% dividend yield over the last twelve months, with an annual payout of $1.02 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $1.02 | $1.05 | $1.16 | $0.99 | $0.65 |
Dividend yield | 5.54% | 5.66% | 6.48% | 5.52% | 3.76% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Multi-Sector Income Bond Fund Admiral 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 | $0.00 | $0.09 | $0.07 | $0.09 | $0.08 | $0.09 | $0.42 | ||||||
| 2025 | $0.10 | $0.08 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.07 | $0.08 | $0.08 | $0.09 | $1.05 |
| 2024 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.18 | $0.09 | $0.09 | $1.16 |
| 2023 | $0.06 | $0.07 | $0.08 | $0.08 | $0.09 | $0.08 | $0.09 | $0.09 | $0.08 | $0.09 | $0.08 | $0.09 | $0.99 |
| 2022 | $0.04 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.65 |
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 Multi-Sector Income Bond Fund Admiral 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 Multi-Sector Income Bond Fund Admiral Shares was 54.84%, occurring on Dec 1, 2025. Recovery took 2 trading sessions.
The current Vanguard Multi-Sector Income Bond Fund Admiral Shares drawdown is 0.16%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 bear market2025 | -54.84%Dec 2025 | 0s | 2d | 2dDec 2025 - Dec 2025 |
Bear market2022 | -13.05%Oct 2022 | 8mo 19d | 1y 1mo | 1y 10moFeb 2022 - Dec 2023 |
2025 selloff2025 | -2.75%Apr 2025 | 1mo 8d | 1mo 1d | 2mo 9dMar 2025 - May 2025 |
2026 pullback2026 | -2.25%Mar 2026 | 28d | 21d | 1mo 19dFeb 2026 - Apr 2026 |
2024 pullback2024 | -1.96%Apr 2024 | 19d | 29d | 1mo 18dMar 2024 - May 2024 |
Drawdown Indicators
| VMSAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.84% | -56.78% | +1.94% |
Max Drawdown (1Y)Largest decline over 1 year | -54.84% | -9.10% | -45.74% |
Max Drawdown (3Y)Largest decline over 3 years | -54.84% | -18.90% | -35.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.16% | -1.80% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -10.71% | +7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 2.03% | +1.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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