PBDIX vs. VBTIX
Compare and contrast key facts about T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX).
PBDIX is managed by T. Rowe Price. VBTIX is managed by Vanguard. It was launched on Sep 18, 1995.
Performance
PBDIX vs. VBTIX - Performance Comparison
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PBDIX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | -0.33% | 10.63% | 1.96% | 5.47% | -14.24% | -1.45% | 8.17% | 8.69% | -0.01% | 3.83% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | -0.49% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Returns By Period
In the year-to-date period, PBDIX achieves a -0.33% return, which is significantly higher than VBTIX's -0.49% return. Over the past 10 years, PBDIX has outperformed VBTIX with an annualized return of 2.02%, while VBTIX has yielded a comparatively lower 1.59% annualized return.
PBDIX
- 1D
- 0.52%
- 1M
- -2.44%
- YTD
- -0.33%
- 6M
- 1.93%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 0.69%
- 10Y*
- 2.02%
VBTIX
- 1D
- 0.52%
- 1M
- -2.23%
- YTD
- -0.49%
- 6M
- 0.50%
- 1Y
- 3.78%
- 3Y*
- 3.45%
- 5Y*
- 0.25%
- 10Y*
- 1.59%
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PBDIX vs. VBTIX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is higher than VBTIX'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%.
Return for Risk
PBDIX vs. VBTIX — Risk / Return Rank
PBDIX
VBTIX
PBDIX vs. VBTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) 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.
| PBDIX | VBTIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 1.00 | +0.73 |
Sortino ratioReturn per unit of downside risk | 2.51 | 1.45 | +1.06 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.18 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.79 | +0.86 |
Martin ratioReturn relative to average drawdown | 8.49 | 5.10 | +3.39 |
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
| PBDIX | VBTIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 1.00 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.04 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.32 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.94 | -0.09 |
Correlation
The correlation between PBDIX and VBTIX is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PBDIX vs. VBTIX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 7.42%, more than VBTIX's 3.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 7.42% | 7.33% | 4.48% | 3.49% | 2.01% | 1.84% | 3.59% | 3.18% | 2.94% | 2.75% | 2.82% | 2.99% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.63% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
Drawdowns
PBDIX vs. VBTIX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.20%, roughly equal to the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for PBDIX and VBTIX.
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Drawdown Indicators
| PBDIX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.20% | -18.90% | -0.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.73% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -18.13% | -0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -19.20% | -18.90% | -0.30% |
Current DrawdownCurrent decline from peak | -2.44% | -3.14% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -2.32% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.96% | -0.04% |
Volatility
PBDIX vs. VBTIX - Volatility Comparison
T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a higher volatility of 1.71% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 1.55%. This indicates that PBDIX'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.
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Volatility by Period
| PBDIX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 1.55% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.58% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 4.36% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 5.99% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 4.97% | +0.01% |