HLLVX vs. VBTLX
HLLVX (JPMorgan Short Duration Bond Fund) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - HLLVX is a Short-Term Bond fund managed by JPMorgan, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, HLLVX returned 2.28%/yr vs 1.57%/yr for VBTLX. A 0.70 correlation means they provide meaningful diversification when combined. HLLVX charges 0.34%/yr vs 0.04%/yr for VBTLX.
Performance
HLLVX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, HLLVX achieves a 0.36% return, which is significantly lower than VBTLX's 0.42% return. Over the past 10 years, HLLVX has outperformed VBTLX with an annualized return of 2.28%, while VBTLX has yielded a comparatively lower 1.57% annualized return.
HLLVX
- 1D
- 0.09%
- 1M
- 0.25%
- YTD
- 0.36%
- 6M
- 0.52%
- 1Y
- 3.24%
- 3Y*
- 4.92%
- 5Y*
- 2.41%
- 10Y*
- 2.28%
VBTLX
- 1D
- 0.31%
- 1M
- 0.97%
- YTD
- 0.42%
- 6M
- 0.76%
- 1Y
- 4.68%
- 3Y*
- 4.08%
- 5Y*
- 0.02%
- 10Y*
- 1.57%
HLLVX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HLLVX JPMorgan Short Duration Bond Fund | 0.36% | 5.57% | 5.15% | 5.40% | -3.71% | -0.07% | 4.51% | 4.26% | 1.16% | 0.85% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between HLLVX and VBTLX 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 | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 0.70 |
The correlation between HLLVX and VBTLX has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.
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Return for Risk
HLLVX vs. VBTLX — Risk / Return Rank
HLLVX
VBTLX
HLLVX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Short Duration Bond Fund (HLLVX) 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.
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.
| HLLVX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.21 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 1.63 | +1.43 |
| Martin ratioReturn relative to average drawdown | 9.72 | 4.63 | +5.09 |
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Drawdowns
HLLVX vs. VBTLX - Drawdown Comparison
The maximum HLLVX drawdown since its inception was -5.77%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for HLLVX and VBTLX.
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Drawdown Indicators
| HLLVX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.77% | -18.81% | +13.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.09% | -2.89% | +1.80% |
Max Drawdown (3Y)Largest decline over 3 years | -1.09% | -6.00% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -5.77% | -18.14% | +12.37% |
Max Drawdown (10Y)Largest decline over 10 years | -5.77% | -18.81% | +13.04% |
Current DrawdownCurrent decline from peak | -0.48% | -2.18% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -2.67% | +2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 1.01% | -0.67% |
Volatility
HLLVX vs. VBTLX - Volatility Comparison
The current volatility for JPMorgan Short Duration Bond Fund (HLLVX) is 0.48%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.21%. This indicates that HLLVX 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.
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Volatility by Period
| HLLVX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 1.21% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 2.86% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.43% | 3.90% | -2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 6.01% | -4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.67% | 4.99% | -3.32% |
HLLVX vs. VBTLX - Expense Ratio Comparison
HLLVX has a 0.34% expense ratio, which is higher than VBTLX's 0.04% expense ratio.
Dividends
HLLVX vs. VBTLX - Dividend Comparison
HLLVX's dividend yield for the trailing twelve months is around 3.86%, less than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLLVX JPMorgan Short Duration Bond Fund | 3.86% | 4.21% | 3.98% | 2.95% | 1.45% | 1.21% | 2.03% | 2.40% | 1.71% | 1.23% | 0.95% | 0.99% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
HLLVX and VBTLX 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.
VBTLX has higher volatility (1.21%) compared to HLLVX (0.48%). In terms of maximum drawdown, HLLVX dropped -5.77% vs VBTLX's -18.81%.
HLLVX currently has the higher Sharpe Ratio (2.34 vs 1.21), 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.
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