MIIBX vs. VISTX
MIIBX (Madison High Quality Bond Fund) and VISTX (Vanguard Institutional Short-Term Bond Fund) are both Short-Term Bond funds. Over the past 10 years, MIIBX returned 1.35%/yr vs 2.42%/yr for VISTX. A 0.76 correlation means they provide meaningful diversification when combined. MIIBX charges 0.50%/yr vs 0.02%/yr for VISTX.
Performance
MIIBX vs. VISTX - Performance Comparison
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Returns By Period
In the year-to-date period, MIIBX achieves a -0.11% return, which is significantly lower than VISTX's 0.81% return. Over the past 10 years, MIIBX has underperformed VISTX with an annualized return of 1.35%, while VISTX has yielded a comparatively higher 2.42% annualized return.
MIIBX
- 1D
- -0.19%
- 1M
- 0.19%
- YTD
- -0.11%
- 6M
- 0.02%
- 1Y
- 2.52%
- 3Y*
- 3.99%
- 5Y*
- 0.99%
- 10Y*
- 1.35%
VISTX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 0.81%
- 6M
- 0.97%
- 1Y
- 3.81%
- 3Y*
- 5.16%
- 5Y*
- 2.53%
- 10Y*
- 2.42%
MIIBX vs. VISTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIIBX Madison High Quality Bond Fund | -0.11% | 6.21% | 2.74% | 4.55% | -7.13% | -1.76% | 4.50% | 4.54% | 0.91% | 1.14% |
VISTX Vanguard Institutional Short-Term Bond Fund | 0.81% | 5.68% | 5.56% | 4.98% | -3.73% | -0.04% | 3.92% | 4.20% | 1.83% | 1.42% |
Correlation
The correlation between MIIBX and VISTX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.76 |
The correlation between MIIBX and VISTX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
MIIBX vs. VISTX — Risk / Return Rank
MIIBX
VISTX
MIIBX vs. VISTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison High Quality Bond Fund (MIIBX) and Vanguard Institutional Short-Term Bond Fund (VISTX). 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.
| MIIBX | VISTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.66 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 4.54 | -2.87 |
| Martin ratioReturn relative to average drawdown | 4.66 | 18.78 | -14.12 |
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Drawdowns
MIIBX vs. VISTX - Drawdown Comparison
The maximum MIIBX drawdown since its inception was -11.12%, which is greater than VISTX's maximum drawdown of -5.64%. Use the drawdown chart below to compare losses from any high point for MIIBX and VISTX.
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Drawdown Indicators
| MIIBX | VISTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.12% | -5.64% | -5.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.70% | -0.86% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.33% | -0.86% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -10.69% | -5.64% | -5.05% |
Max Drawdown (10Y)Largest decline over 10 years | -11.12% | -5.64% | -5.48% |
Current DrawdownCurrent decline from peak | -1.23% | -0.23% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -0.68% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.21% | +0.40% |
Volatility
MIIBX vs. VISTX - Volatility Comparison
Madison High Quality Bond Fund (MIIBX) has a higher volatility of 0.65% compared to Vanguard Institutional Short-Term Bond Fund (VISTX) at 0.54%. This indicates that MIIBX's price experiences larger fluctuations and is considered to be riskier than VISTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIIBX | VISTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.54% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.67% | 0.96% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 1.36% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.53% | 1.88% | +1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.78% | 1.48% | +1.30% |
MIIBX vs. VISTX - Expense Ratio Comparison
MIIBX has a 0.50% expense ratio, which is higher than VISTX's 0.02% expense ratio.
Dividends
MIIBX vs. VISTX - Dividend Comparison
MIIBX's dividend yield for the trailing twelve months is around 3.47%, less than VISTX's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIIBX Madison High Quality Bond Fund | 3.47% | 3.34% | 3.02% | 2.17% | 1.23% | 1.54% | 1.28% | 1.87% | 1.73% | 1.41% | 1.23% | 1.35% |
VISTX Vanguard Institutional Short-Term Bond Fund | 4.46% | 4.53% | 5.03% | 3.91% | 1.76% | 1.85% | 2.33% | 2.72% | 2.32% | 1.78% | 1.51% | 0.00% |
Frequently Asked Questions
MIIBX and VISTX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIIBX has higher volatility (0.65%) compared to VISTX (0.54%). In terms of maximum drawdown, MIIBX dropped -11.12% vs VISTX's -5.64%.
VISTX currently has the higher Sharpe Ratio (2.87 vs 1.24), 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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