IEI vs. VBIPX
IEI (iShares 3-7 Year Treasury Bond ETF) and VBIPX (Vanguard Short-Term Bond Index Fund Institutional Plus) are both funds - IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index, while VBIPX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, IEI returned 1.28%/yr vs 1.90%/yr for VBIPX. Their correlation of 0.84 suggests significant overlap in exposure. IEI charges 0.15%/yr vs 0.04%/yr for VBIPX.
Performance
IEI vs. VBIPX - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.42% return, which is significantly lower than VBIPX's 0.32% return. Over the past 10 years, IEI has underperformed VBIPX with an annualized return of 1.28%, while VBIPX has yielded a comparatively higher 1.90% annualized return.
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
VBIPX
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 0.32%
- 6M
- 0.56%
- 1Y
- 3.77%
- 3Y*
- 4.36%
- 5Y*
- 1.55%
- 10Y*
- 1.90%
IEI vs. VBIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 0.32% | 6.12% | 3.78% | 4.45% | -5.68% | -1.17% | 4.73% | 4.89% | 1.38% | 1.21% |
Correlation
The correlation between IEI and VBIPX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011 | 0.84 |
The correlation between IEI and VBIPX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
IEI vs. VBIPX — Risk / Return Rank
IEI
VBIPX
IEI vs. VBIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) and Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX). 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.
| IEI | VBIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.33 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 2.45 | -1.13 |
| Martin ratioReturn relative to average drawdown | 3.96 | 8.04 | -4.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEI | VBIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.67 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.53 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.79 | -0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.79 | -0.09 |
Drawdowns
IEI vs. VBIPX - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, which is greater than VBIPX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for IEI and VBIPX.
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Drawdown Indicators
| IEI | VBIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -8.72% | -5.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -1.54% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -1.54% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -8.69% | -5.19% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | -8.72% | -5.88% |
Current DrawdownCurrent decline from peak | -1.85% | -0.62% | -1.23% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -1.19% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.47% | +0.36% |
Volatility
IEI vs. VBIPX - Volatility Comparison
iShares 3-7 Year Treasury Bond ETF (IEI) has a higher volatility of 0.91% compared to Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) at 0.70%. This indicates that IEI's price experiences larger fluctuations and is considered to be riskier than VBIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEI | VBIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.70% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 1.61% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 2.26% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 2.96% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 2.40% | +1.53% |
IEI vs. VBIPX - Expense Ratio Comparison
IEI has a 0.15% expense ratio, which is higher than VBIPX's 0.04% 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%.
Dividends
IEI vs. VBIPX - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.64%, less than VBIPX's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 4.02% | 3.86% | 3.40% | 2.01% | 1.40% | 1.26% | 1.82% | 2.27% | 2.04% | 1.69% | 1.53% | 1.46% |
Frequently Asked Questions
IEI and VBIPX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IEI has higher volatility (0.91%) compared to VBIPX (0.70%). In terms of maximum drawdown, IEI dropped -14.60% vs VBIPX's -8.72%.
VBIPX currently has the higher Sharpe Ratio (1.67 vs 1.09), 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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