TBIRX vs. VBMPX
TBIRX (Nuveen Bond Index Fund Retirement Class) and VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) are both Total Bond Market funds. Over the past 10 years, TBIRX returned 1.17%/yr vs 1.57%/yr for VBMPX. With a 0.96 correlation, they move nearly in lockstep. TBIRX charges 0.32%/yr vs 0.03%/yr for VBMPX.
Performance
TBIRX vs. VBMPX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TBIRX having a 0.41% return and VBMPX slightly higher at 0.43%. Over the past 10 years, TBIRX has underperformed VBMPX with an annualized return of 1.17%, while VBMPX has yielded a comparatively higher 1.57% annualized return.
TBIRX
- 1D
- 0.21%
- 1M
- 0.84%
- YTD
- 0.41%
- 6M
- 0.71%
- 1Y
- 4.55%
- 3Y*
- 3.64%
- 5Y*
- -0.48%
- 10Y*
- 1.17%
VBMPX
- 1D
- 0.31%
- 1M
- 0.97%
- YTD
- 0.43%
- 6M
- 0.77%
- 1Y
- 4.70%
- 3Y*
- 4.10%
- 5Y*
- 0.03%
- 10Y*
- 1.57%
TBIRX vs. VBMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBIRX Nuveen Bond Index Fund Retirement Class | 0.41% | 6.85% | 0.81% | 5.01% | -13.87% | -2.05% | 7.50% | 8.28% | -0.57% | 3.17% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 0.43% | 7.18% | 1.27% | 5.75% | -13.14% | -1.95% | 7.75% | 8.74% | -0.24% | 3.58% |
Correlation
The correlation between TBIRX and VBMPX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2010 | 0.96 |
The correlation between TBIRX and VBMPX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
TBIRX vs. VBMPX — Risk / Return Rank
TBIRX
VBMPX
TBIRX vs. VBMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Bond Index Fund Retirement Class (TBIRX) 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.
| TBIRX | VBMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.64 | -0.12 |
| Martin ratioReturn relative to average drawdown | 4.30 | 4.65 | -0.35 |
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Drawdowns
TBIRX vs. VBMPX - Drawdown Comparison
The maximum TBIRX drawdown since its inception was -19.64%, roughly equal to the maximum VBMPX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for TBIRX and VBMPX.
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Drawdown Indicators
| TBIRX | VBMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.64% | -18.90% | -0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.89% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -6.22% | -5.99% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.79% | -18.12% | -0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -19.64% | -18.90% | -0.74% |
Current DrawdownCurrent decline from peak | -4.69% | -2.23% | -2.46% |
Average DrawdownAverage peak-to-trough decline | -3.93% | -3.53% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.01% | +0.05% |
Volatility
TBIRX vs. VBMPX - Volatility Comparison
The current volatility for Nuveen Bond Index Fund Retirement Class (TBIRX) is 1.14%, while Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) has a volatility of 1.21%. This indicates that TBIRX experiences smaller price fluctuations and is considered to be less risky 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
| TBIRX | VBMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.21% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.86% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 3.90% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 6.02% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 4.99% | +0.01% |
TBIRX vs. VBMPX - Expense Ratio Comparison
TBIRX has a 0.32% expense ratio, which is higher than VBMPX's 0.03% expense ratio.
Dividends
TBIRX vs. VBMPX - Dividend Comparison
TBIRX's dividend yield for the trailing twelve months is around 3.65%, less than VBMPX's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TBIRX Nuveen Bond Index Fund Retirement Class | 3.65% | 3.48% | 2.91% | 2.23% | 1.89% | 1.81% | 2.90% | 2.56% | 2.23% | 2.19% | 2.06% | 1.95% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 4.00% | 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
With a correlation of 0.94, TBIRX and VBMPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VBMPX has higher volatility (1.21%) compared to TBIRX (1.14%). In terms of maximum drawdown, TBIRX dropped -19.64% vs VBMPX's -18.90%.
VBMPX currently has the higher Sharpe Ratio (1.21 vs 1.19), 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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