VBILX vs. VCOBX
VBILX (Vanguard Intermediate-Term Bond Index Fund Admiral Shares) and VCOBX (Vanguard Core Bond Fund Admiral Shares) are both Intermediate Core Bond funds from Vanguard. VBILX is passively managed, while VCOBX is actively managed. Over the past 10 years, VBILX returned 1.88%/yr vs 2.18%/yr for VCOBX. Their correlation of 0.95 suggests significant overlap in exposure. VBILX charges 0.06%/yr vs 0.10%/yr for VCOBX.
Performance
VBILX vs. VCOBX - Performance Comparison
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Returns By Period
In the year-to-date period, VBILX achieves a -0.24% return, which is significantly lower than VCOBX's 0.82% return. Over the past 10 years, VBILX has underperformed VCOBX with an annualized return of 1.88%, while VCOBX has yielded a comparatively higher 2.18% annualized return.
VBILX
- 1D
- 0.29%
- 1M
- 0.76%
- YTD
- -0.24%
- 6M
- 0.11%
- 1Y
- 4.36%
- 3Y*
- 4.48%
- 5Y*
- 0.10%
- 10Y*
- 1.88%
VCOBX
- 1D
- 0.28%
- 1M
- 0.89%
- YTD
- 0.82%
- 6M
- 0.93%
- 1Y
- 5.14%
- 3Y*
- 4.94%
- 5Y*
- 0.50%
- 10Y*
- 2.18%
VBILX vs. VCOBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | -0.24% | 8.57% | 1.54% | 6.09% | -13.59% | -2.36% | 9.82% | 10.20% | -0.15% | 3.86% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 0.82% | 7.73% | 2.21% | 6.39% | -13.13% | -1.51% | 10.41% | 9.64% | -0.85% | 3.89% |
Correlation
The correlation between VBILX and VCOBX is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.95 |
The correlation between VBILX and VCOBX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
VBILX vs. VCOBX — Risk / Return Rank
VBILX
VCOBX
VBILX vs. VCOBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) and Vanguard Core Bond Fund Admiral Shares (VCOBX). 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.
| VBILX | VCOBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.26 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 2.00 | -0.69 |
| Martin ratioReturn relative to average drawdown | 3.66 | 5.66 | -2.00 |
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Drawdowns
VBILX vs. VCOBX - Drawdown Comparison
The maximum VBILX drawdown since its inception was -19.26%, which is greater than VCOBX's maximum drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for VBILX and VCOBX.
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Drawdown Indicators
| VBILX | VCOBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -18.14% | -1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -2.62% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -5.63% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -19.15% | -18.03% | -1.12% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -18.14% | -1.12% |
Current DrawdownCurrent decline from peak | -2.03% | -1.03% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -4.16% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 0.92% | +0.30% |
Volatility
VBILX vs. VCOBX - Volatility Comparison
Vanguard Intermediate-Term Bond Index Fund Admiral Shares (VBILX) has a higher volatility of 1.40% compared to Vanguard Core Bond Fund Admiral Shares (VCOBX) at 1.11%. This indicates that VBILX's price experiences larger fluctuations and is considered to be riskier than VCOBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBILX | VCOBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.11% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 2.72% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 3.62% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 5.78% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 4.76% | +0.61% |
VBILX vs. VCOBX - Expense Ratio Comparison
VBILX has a 0.06% expense ratio, which is lower than VCOBX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VBILX vs. VCOBX - Dividend Comparison
VBILX's dividend yield for the trailing twelve months is around 4.22%, less than VCOBX's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBILX Vanguard Intermediate-Term Bond Index Fund Admiral Shares | 4.22% | 4.01% | 3.80% | 3.09% | 1.99% | 3.39% | 2.94% | 2.73% | 2.87% | 2.73% | 3.06% | 3.09% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 4.72% | 4.80% | 5.04% | 4.44% | 3.01% | 1.23% | 3.09% | 3.08% | 3.10% | 2.20% | 2.29% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, VBILX and VCOBX 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.
VBILX has higher volatility (1.40%) compared to VCOBX (1.11%). In terms of maximum drawdown, VBILX dropped -19.26% vs VCOBX's -18.14%.
VCOBX currently has the higher Sharpe Ratio (1.44 vs 1.08), 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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