CMBS vs. VBTLX
Compare and contrast key facts about iShares CMBS ETF (CMBS) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX).
CMBS is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. CMBS (ERISA Only) Index. It was launched on Feb 14, 2012. VBTLX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMBS or VBTLX.
Key characteristics
| CMBS | VBTLX | |
|---|---|---|
| YTD Return | 3.75% | 1.37% |
| 1Y Return | 8.86% | 7.84% |
| 3Y Return (Ann) | -1.23% | -2.41% |
| 5Y Return (Ann) | 0.50% | -0.30% |
| 10Y Return (Ann) | 1.78% | 1.35% |
| Sharpe Ratio | 1.80 | 1.36 |
| Sortino Ratio | 2.76 | 2.02 |
| Omega Ratio | 1.33 | 1.24 |
| Calmar Ratio | 0.70 | 0.49 |
| Martin Ratio | 8.80 | 4.70 |
| Ulcer Index | 1.04% | 1.67% |
| Daily Std Dev | 5.09% | 5.79% |
| Max Drawdown | -15.87% | -19.05% |
| Current Drawdown | -5.37% | -9.27% |
Correlation
The correlation between CMBS and VBTLX is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CMBS vs. VBTLX - Performance Comparison
In the year-to-date period, CMBS achieves a 3.75% return, which is significantly higher than VBTLX's 1.37% return. Over the past 10 years, CMBS has outperformed VBTLX with an annualized return of 1.78%, while VBTLX has yielded a comparatively lower 1.35% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CMBS vs. VBTLX - Expense Ratio Comparison
CMBS has a 0.25% expense ratio, which is higher than VBTLX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CMBS vs. VBTLX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares CMBS ETF (CMBS) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
Dividends
CMBS vs. VBTLX - Dividend Comparison
CMBS's dividend yield for the trailing twelve months is around 3.23%, less than VBTLX's 3.61% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.23% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.30% | 2.31% | 2.15% | 2.00% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.61% | 3.11% | 2.51% | 1.90% | 2.23% | 2.74% | 2.78% | 2.51% | 2.49% | 2.48% | 2.55% | 2.56% |
Drawdowns
CMBS vs. VBTLX - Drawdown Comparison
The maximum CMBS drawdown since its inception was -15.87%, smaller than the maximum VBTLX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for CMBS and VBTLX. For additional features, visit the drawdowns tool.
Volatility
CMBS vs. VBTLX - Volatility Comparison
The current volatility for iShares CMBS ETF (CMBS) is 1.55%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.77%. This indicates that CMBS experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.