MFHQX vs. VIITX

Last updated Jun 4, 2026

MFHQX (BlackRock Total Return Fund) and VIITX (Vanguard Institutional Intermediate-Term Bond Fund) are both mutual funds - MFHQX is a Intermediate Core-Plus Bond fund managed by BlackRock, while VIITX is a Short-Term Bond fund managed by Vanguard. Over the past 10 years, MFHQX returned 1.00%/yr vs 2.13%/yr for VIITX. Their correlation of 0.89 suggests significant overlap in exposure. MFHQX charges 1.45%/yr vs 0.02%/yr for VIITX.

Performance

MFHQX vs. VIITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Total Return Fund (MFHQX) 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, MFHQX achieves a 0.30% return, which is significantly lower than VIITX's 0.56% return. Over the past 10 years, MFHQX has underperformed VIITX with an annualized return of 1.00%, while VIITX has yielded a comparatively higher 2.13% annualized return.

MFHQX

• 1D: 0.10%
• 1M: 0.80%
• YTD: 0.30%
• 6M: 0.22%
• 1Y: 5.45%
• 3Y*: 3.11%
• 5Y*: -0.79%
• 10Y*: 1.00%

VIITX

• 1D: 0.05%
• 1M: 0.29%
• YTD: 0.56%
• 6M: 0.76%
• 1Y: 5.12%
• 3Y*: 4.93%
• 5Y*: 1.50%
• 10Y*: 2.13%

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

MFHQX vs. VIITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFHQX BlackRock Total Return Fund	0.30%	7.16%	0.09%	4.60%	-15.06%	-1.65%	7.85%	8.74%	-1.86%	3.07%
VIITX Vanguard Institutional Intermediate-Term Bond Fund	0.56%	7.23%	3.67%	5.31%	-7.99%	-1.02%	6.17%	6.44%	0.87%	2.00%

Correlation

The correlation between MFHQX and VIITX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 4, 2015	0.89

The correlation between MFHQX and VIITX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

MFHQX vs. VIITX — Risk / Return Rank

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

MFHQX

MFHQX Risk / Return Rank: 16
MFHQX Sharpe Ratio Rank: 18
MFHQX Sortino Ratio Rank: 16
MFHQX Omega Ratio Rank: 19
MFHQX Calmar Ratio Rank: 14
MFHQX Martin Ratio Rank: 11

VIITX

VIITX Risk / Return Rank: 50
VIITX Sharpe Ratio Rank: 50
VIITX Sortino Ratio Rank: 55
VIITX Omega Ratio Rank: 51
VIITX Calmar Ratio Rank: 51
VIITX Martin Ratio Rank: 41

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.

MFHQX vs. VIITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Total Return Fund (MFHQX) 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.

	MFHQX	VIITX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.07	-0.87
Sortino ratio: Return per unit of downside risk	1.66	3.11	-1.46
Omega ratio: Gain probability vs. loss probability	1.23	1.39	-0.16
Calmar ratio: Return relative to maximum drawdown	1.27	2.72	-1.44
Martin ratio: Return relative to average drawdown	3.33	8.89	-5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFHQX vs. VIITX - Sharpe Ratio Comparison

The current MFHQX Sharpe Ratio is 1.20, which is lower than the VIITX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of MFHQX 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

	MFHQX	VIITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	2.07	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.39	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.70	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.76	-0.34

Drawdowns

MFHQX vs. VIITX - Drawdown Comparison

The maximum MFHQX drawdown since its inception was -20.45%, which is greater than VIITX's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for MFHQX and VIITX.

Drawdown Indicators

	MFHQX	VIITX	Difference
Max Drawdown Largest peak-to-trough decline	-20.45%	-11.86%	-8.59%
Max Drawdown (1Y) Largest decline over 1 year	-4.31%	-1.89%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-7.12%	-3.32%	-3.80%
Max Drawdown (5Y) Largest decline over 5 years	-20.21%	-11.86%	-8.35%
Max Drawdown (10Y) Largest decline over 10 years	-20.31%	-11.86%	-8.45%
Current Drawdown Current decline from peak	-5.99%	-0.87%	-5.12%
Average Drawdown Average peak-to-trough decline	-4.25%	-2.13%	-2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	0.58%	+1.06%

Volatility

MFHQX vs. VIITX - Volatility Comparison

BlackRock Total Return Fund (MFHQX) has a higher volatility of 1.46% compared to Vanguard Institutional Intermediate-Term Bond Fund (VIITX) at 0.87%. This indicates that MFHQX's price experiences larger fluctuations and is considered to be riskier than VIITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFHQX	VIITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	0.87%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	3.52%	1.84%	+1.68%
Volatility (1Y) Calculated over the trailing 1-year period	4.57%	2.49%	+2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	3.84%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	3.06%	+2.04%

MFHQX vs. VIITX - Expense Ratio Comparison

MFHQX has a 1.45% expense ratio, which is higher than VIITX's 0.02% expense ratio.

Dividends

MFHQX vs. VIITX - Dividend Comparison

MFHQX's dividend yield for the trailing twelve months is around 3.70%, less than VIITX's 4.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFHQX BlackRock Total Return Fund	3.70%	3.83%	3.28%	2.85%	1.95%	1.50%	5.22%	2.20%	2.33%	1.99%	1.82%	2.40%
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 MFHQX and VIITX in my portfolio?

MFHQX and VIITX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFHQX or VIITX?

MFHQX has higher volatility (1.46%) compared to VIITX (0.87%). In terms of maximum drawdown, MFHQX dropped -20.45% vs VIITX's -11.86%.

Which has better risk-adjusted returns?

VIITX currently has the higher Sharpe Ratio (2.07 vs 1.20), 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.