PRCIX vs. VBMPX
PRCIX (T. Rowe Price New Income Fund) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both mutual funds - PRCIX is a Intermediate Core Bond fund managed by T. Rowe Price, while VBMPX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, PRCIX returned 1.36%/yr vs 1.30%/yr for VBMPX. Their correlation of 0.94 means they have usually moved in the same direction. PRCIX charges 0.44%/yr vs 0.02%/yr for VBMPX.
Performance
PRCIX vs. VBMPX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with PRCIX having a -0.68% return and VBMPX slightly lower at -0.69%. Both investments have delivered pretty close results over the past 10 years, with PRCIX having a 1.36% annualized return and VBMPX not far behind at 1.30%.
PRCIX
- 1D
- 0.00%
- 1M
- -1.27%
- 6M
- -0.79%
- YTD
- -0.68%
- 1Y
- 3.10%
- 3Y*
- 4.52%
- 5Y*
- -0.33%
- 10Y*
- 1.36%
- ALL TIME*
- 3.55%
VBMPX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.69%
- 1Y
- 1.68%
- 3Y*
- 3.70%
- 5Y*
- -0.43%
- 10Y*
- 1.30%
- ALL TIME*
- 2.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRCIX vs. VBMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | -0.68% | 8.74% | 2.50% | 5.31% | -14.87% | -0.54% | 5.77% | 9.28% | -0.62% | 4.01% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | -0.69% | 7.18% | 1.27% | 5.75% | -13.14% | -1.95% | 7.75% | 8.74% | -0.24% | 3.58% |
Correlation
The correlation between PRCIX and VBMPX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2010 | 0.94 |
The correlation between PRCIX and VBMPX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
PRCIX vs. VBMPX — Risk / Return Rank
PRCIX
VBMPX
PRCIX vs. VBMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Income Fund (PRCIX) and Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX). 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.
| PRCIX | VBMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.13 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.00 | +0.41 |
| Martin ratioReturn relative to average drawdown | 3.84 | 2.50 | +1.34 |
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Drawdowns
PRCIX vs. VBMPX - Drawdown Comparison
The maximum PRCIX drawdown since its inception was -22.34%, which is greater than VBMPX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for PRCIX and VBMPX.
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Drawdown Indicators
| PRCIX | VBMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -18.90% | -3.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -2.89% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -4.86% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -18.12% | -1.53% |
Max Drawdown (10Y)Largest decline over 10 years | -19.65% | -18.90% | -0.75% |
Current DrawdownCurrent decline from peak | -2.22% | -3.33% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -3.52% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.15% | -0.07% |
Volatility
PRCIX vs. VBMPX - Volatility Comparison
T. Rowe Price New Income Fund (PRCIX) has a higher volatility of 1.05% compared to Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) at 0.96%. This indicates that PRCIX's price experiences larger fluctuations and is considered to be riskier than VBMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCIX | VBMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.96% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 2.97% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.83% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 6.02% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 4.98% | -0.02% |
PRCIX vs. VBMPX - Expense Ratio Comparison
PRCIX has a 0.44% expense ratio, which is higher than VBMPX's 0.02% expense ratio.
Dividends
PRCIX vs. VBMPX - Dividend Comparison
PRCIX's dividend yield for the trailing twelve months is around 5.60%, more than VBMPX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | 5.60% | 5.94% | 5.65% | 4.37% | 1.80% | 2.65% | 3.33% | 2.88% | 3.03% | 2.66% | 2.56% | 2.55% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 3.73% | 3.88% | 3.69% | 3.11% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.58% | 2.55% | 2.85% |
Frequently Asked Questions
PRCIX and VBMPX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRCIX has higher volatility (1.05%) compared to VBMPX (0.96%). In terms of maximum drawdown, PRCIX dropped -22.34% vs VBMPX's -18.90%.
PRCIX currently has the higher Sharpe Ratio (1.03 vs 0.76), 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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