BFMSX vs. VIITX

Last updated Jun 3, 2026

BFMSX (BlackRock Low Duration Bond Portfolio) and VIITX (Vanguard Institutional Intermediate-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, BFMSX returned 2.30%/yr vs 2.13%/yr for VIITX. A 0.66 correlation means they provide meaningful diversification when combined. BFMSX charges 0.41%/yr vs 0.02%/yr for VIITX.

Performance

BFMSX vs. VIITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Low Duration Bond Portfolio (BFMSX) and Vanguard Institutional Intermediate-Term Bond Fund (VIITX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFMSX achieves a 0.92% return, which is significantly higher than VIITX's 0.52% return. Over the past 10 years, BFMSX has outperformed VIITX with an annualized return of 2.30%, while VIITX has yielded a comparatively lower 2.13% annualized return.

BFMSX

• 1D: 0.00%
• 1M: 0.17%
• YTD: 0.92%
• 6M: 1.43%
• 1Y: 4.64%
• 3Y*: 5.06%
• 5Y*: 2.07%
• 10Y*: 2.30%

VIITX

• 1D: -0.13%
• 1M: 0.06%
• YTD: 0.52%
• 6M: 0.80%
• 1Y: 5.07%
• 3Y*: 4.91%
• 5Y*: 1.48%
• 10Y*: 2.13%

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

BFMSX vs. VIITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFMSX BlackRock Low Duration Bond Portfolio	0.92%	6.20%	4.94%	4.96%	-5.34%	-0.33%	3.47%	4.75%	1.15%	1.98%
VIITX Vanguard Institutional Intermediate-Term Bond Fund	0.52%	7.23%	3.67%	5.31%	-7.99%	-1.02%	6.17%	6.44%	0.87%	2.00%

Correlation

The correlation between BFMSX and VIITX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 4, 2015	0.66

The correlation between BFMSX and VIITX shifts across timeframes, from 0.66 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BFMSX vs. VIITX — Risk / Return Rank

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

BFMSX

BFMSX Risk / Return Rank: 76
BFMSX Sharpe Ratio Rank: 56
BFMSX Sortino Ratio Rank: 86
BFMSX Omega Ratio Rank: 87
BFMSX Calmar Ratio Rank: 73
BFMSX Martin Ratio Rank: 81

VIITX

VIITX Risk / Return Rank: 47
VIITX Sharpe Ratio Rank: 46
VIITX Sortino Ratio Rank: 50
VIITX Omega Ratio Rank: 47
VIITX Calmar Ratio Rank: 49
VIITX Martin Ratio Rank: 42

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.

BFMSX vs. VIITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Low Duration Bond Portfolio (BFMSX) and Vanguard Institutional Intermediate-Term Bond Fund (VIITX). 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.

	BFMSX	VIITX	Difference
Sharpe ratio Return per unit of total volatility	2.20	1.99	+0.21
Sortino ratio Return per unit of downside risk	4.05	2.99	+1.07
Omega ratio Gain probability vs. loss probability	1.60	1.37	+0.22
Calmar ratio Return relative to maximum drawdown	3.32	2.71	+0.61
Martin ratio Return relative to average drawdown	15.12	8.93	+6.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFMSX vs. VIITX - Sharpe Ratio Comparison

The current BFMSX Sharpe Ratio is 2.20, which is comparable to the VIITX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of BFMSX and VIITX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BFMSX	VIITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	1.99	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.39	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	0.70	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.76	+0.85

Drawdowns

BFMSX vs. VIITX - Drawdown Comparison

The maximum BFMSX drawdown since its inception was -12.70%, which is greater than VIITX's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for BFMSX and VIITX.

Drawdown Indicators

	BFMSX	VIITX	Difference
Max Drawdown Largest peak-to-trough decline	-12.70%	-11.86%	-0.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.52%	-1.89%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-1.52%	-3.32%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	-7.96%	-11.86%	+3.90%
Max Drawdown (10Y) Largest decline over 10 years	-7.96%	-11.86%	+3.90%
Current Drawdown Current decline from peak	0.00%	-0.91%	+0.91%
Average Drawdown Average peak-to-trough decline	-0.82%	-2.13%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.57%	-0.24%

Volatility

BFMSX vs. VIITX - Volatility Comparison

The current volatility for BlackRock Low Duration Bond Portfolio (BFMSX) is 0.68%, while Vanguard Institutional Intermediate-Term Bond Fund (VIITX) has a volatility of 0.87%. This indicates that BFMSX experiences smaller price fluctuations and is considered to be less risky than VIITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFMSX	VIITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	0.87%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	1.85%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	2.49%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.35%	3.84%	-1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	3.06%	-0.95%

BFMSX vs. VIITX - Expense Ratio Comparison

BFMSX has a 0.41% expense ratio, which is higher than VIITX's 0.02% expense ratio.

Dividends

BFMSX vs. VIITX - Dividend Comparison

BFMSX's dividend yield for the trailing twelve months is around 4.66%, more than VIITX's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFMSX BlackRock Low Duration Bond Portfolio	4.66%	4.56%	4.14%	3.34%	2.67%	1.23%	2.04%	2.63%	2.51%	2.17%	1.76%	1.87%
VIITX Vanguard Institutional Intermediate-Term Bond Fund	4.57%	4.51%	4.71%	3.61%	2.14%	2.20%	2.87%	2.69%	2.62%	2.04%	2.95%	0.57%

Frequently Asked Questions

Can I hold both BFMSX and VIITX in my portfolio?

BFMSX and VIITX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFMSX or VIITX?

VIITX has higher volatility (0.87%) compared to BFMSX (0.68%). In terms of maximum drawdown, BFMSX dropped -12.70% vs VIITX's -11.86%.

Which has better risk-adjusted returns?

BFMSX currently has the higher Sharpe Ratio (2.20 vs 1.99), 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.