LIWPX vs. VBTIX

Last updated Jun 13, 2026

LIWPX (BlackRock LifePath Index 2065 Fund) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both mutual funds - LIWPX is a Target Retirement Date fund managed by BlackRock, while VBTIX is a Total Bond Market fund managed by Vanguard. Over the past 5 years, LIWPX returned 9.65%/yr vs 0.06%/yr for VBTIX. At a 0.09 correlation, their price movements are largely independent. LIWPX charges 0.35%/yr vs 0.04%/yr for VBTIX.

Performance

LIWPX vs. VBTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2065 Fund (LIWPX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIWPX achieves a 10.55% return, which is significantly higher than VBTIX's 0.43% return.

LIWPX

• 1D: 2.41%
• 1M: 0.15%
• YTD: 10.55%
• 6M: 11.22%
• 1Y: 24.89%
• 3Y*: 18.62%
• 5Y*: 9.65%
• 10Y*: —

VBTIX

• 1D: 0.52%
• 1M: 0.55%
• YTD: 0.43%
• 6M: 0.97%
• 1Y: 4.48%
• 3Y*: 4.06%
• 5Y*: 0.06%
• 10Y*: 1.54%

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

LIWPX vs. VBTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LIWPX BlackRock LifePath Index 2065 Fund	10.55%	21.32%	14.17%	21.22%	-18.52%	18.51%	15.12%	5.67%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	0.43%	7.18%	1.27%	5.75%	-13.15%	-1.95%	7.75%	0.76%

Correlation

The correlation between LIWPX and VBTIX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.09

Over the past year, LIWPX and VBTIX have become more correlated (0.34) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

LIWPX vs. VBTIX — Risk / Return Rank

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

LIWPX

LIWPX Risk / Return Rank: 69
LIWPX Sharpe Ratio Rank: 67
LIWPX Sortino Ratio Rank: 65
LIWPX Omega Ratio Rank: 64
LIWPX Calmar Ratio Rank: 70
LIWPX Martin Ratio Rank: 78

VBTIX

VBTIX Risk / Return Rank: 30
VBTIX Sharpe Ratio Rank: 31
VBTIX Sortino Ratio Rank: 33
VBTIX Omega Ratio Rank: 30
VBTIX Calmar Ratio Rank: 32
VBTIX Martin Ratio Rank: 26

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.

LIWPX vs. VBTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2065 Fund (LIWPX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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.

	LIWPX	VBTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.26	+0.65
Sortino ratio: Return per unit of downside risk	2.64	1.90	+0.74
Omega ratio: Gain probability vs. loss probability	1.35	1.22	+0.12
Calmar ratio: Return relative to maximum drawdown	2.66	1.71	+0.95
Martin ratio: Return relative to average drawdown	11.55	4.95	+6.60

LIWPX vs. VBTIX - Sharpe Ratio Comparison

The current LIWPX Sharpe Ratio is 1.91, which is higher than the VBTIX Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of LIWPX and VBTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LIWPX vs. VBTIX - Drawdown Comparison

The maximum LIWPX drawdown since its inception was -33.12%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for LIWPX and VBTIX.

Drawdown Indicators

	LIWPX	VBTIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.12%	-18.90%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-2.89%	-6.68%
Max Drawdown (3Y) Largest decline over 3 years	-16.97%	-5.99%	-10.98%
Max Drawdown (5Y) Largest decline over 5 years	-26.57%	-18.13%	-8.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.90%	—
Current Drawdown Current decline from peak	-2.25%	-2.25%	0.00%
Average Drawdown Average peak-to-trough decline	-5.86%	-2.32%	-3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	1.00%	+1.20%

Volatility

LIWPX vs. VBTIX - Volatility Comparison

BlackRock LifePath Index 2065 Fund (LIWPX) has a higher volatility of 5.30% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 1.33%. This indicates that LIWPX's price experiences larger fluctuations and is considered to be riskier than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIWPX	VBTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	1.33%	+3.97%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	2.85%	+8.17%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	3.93%	+9.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	6.02%	+9.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.59%	4.99%	+13.60%

LIWPX vs. VBTIX - Expense Ratio Comparison

LIWPX has a 0.35% expense ratio, which is higher than VBTIX's 0.04% expense ratio.

Dividends

LIWPX vs. VBTIX - Dividend Comparison

LIWPX's dividend yield for the trailing twelve months is around 1.42%, less than VBTIX's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIWPX BlackRock LifePath Index 2065 Fund	1.42%	1.57%	0.00%	1.76%	1.50%	1.58%	1.13%	0.83%	0.00%	0.00%	0.00%	0.00%
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	3.99%	3.88%	3.69%	3.12%	2.61%	1.81%	2.41%	2.75%	2.58%	2.56%	2.54%	2.84%

Frequently Asked Questions

Can I hold both LIWPX and VBTIX in my portfolio?

LIWPX and VBTIX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIWPX or VBTIX?

LIWPX has higher volatility (5.30%) compared to VBTIX (1.33%). In terms of maximum drawdown, LIWPX dropped -33.12% vs VBTIX's -18.90%.

Which has better risk-adjusted returns?

LIWPX currently has the higher Sharpe Ratio (1.91 vs 1.26), 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.