VBIMX vs. SWYNX

Last updated Jun 5, 2026

VBIMX (Vanguard Intermediate-Term Bond Index Fund Institutional Shares) and SWYNX (Schwab Target 2060 Index Fund) are both mutual funds - VBIMX is a Total Bond Market fund managed by Vanguard, while SWYNX is a Target Retirement Date fund managed by Charles Schwab. Over the past 5 years, VBIMX returned 0.18%/yr vs 10.70%/yr for SWYNX. At a 0.02 correlation, their price movements are largely independent. VBIMX charges 0.05%/yr vs 0.04%/yr for SWYNX.

Performance

VBIMX vs. SWYNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) and Schwab Target 2060 Index Fund (SWYNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBIMX achieves a -0.33% return, which is significantly lower than SWYNX's 12.06% return.

VBIMX

• 1D: -0.29%
• 1M: -0.11%
• YTD: -0.33%
• 6M: -0.26%
• 1Y: 4.18%
• 3Y*: 4.19%
• 5Y*: 0.18%
• 10Y*: 1.89%

SWYNX

• 1D: -0.71%
• 1M: 3.49%
• YTD: 12.06%
• 6M: 12.49%
• 1Y: 27.33%
• 3Y*: 20.46%
• 5Y*: 10.70%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBIMX vs. SWYNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares	-0.33%	8.59%	1.55%	5.78%	-13.25%	-2.50%	9.83%	10.22%	-0.13%	3.89%
SWYNX Schwab Target 2060 Index Fund	12.06%	20.19%	14.71%	23.96%	-17.93%	18.84%	14.88%	26.10%	-9.98%	20.36%

Correlation

The correlation between VBIMX and SWYNX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.02

Over the past year, VBIMX and SWYNX have become more correlated (0.31) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

VBIMX vs. SWYNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBIMX

VBIMX Risk / Return Rank: 16
VBIMX Sharpe Ratio Rank: 17
VBIMX Sortino Ratio Rank: 17
VBIMX Omega Ratio Rank: 15
VBIMX Calmar Ratio Rank: 16
VBIMX Martin Ratio Rank: 15

SWYNX

SWYNX Risk / Return Rank: 63
SWYNX Sharpe Ratio Rank: 62
SWYNX Sortino Ratio Rank: 59
SWYNX Omega Ratio Rank: 57
SWYNX Calmar Ratio Rank: 63
SWYNX Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VBIMX vs. SWYNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) and Schwab Target 2060 Index Fund (SWYNX). 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.

	VBIMX	SWYNX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.33	-1.18
Sortino ratio: Return per unit of downside risk	1.73	3.24	-1.51
Omega ratio: Gain probability vs. loss probability	1.20	1.42	-0.22
Calmar ratio: Return relative to maximum drawdown	1.40	3.07	-1.67
Martin ratio: Return relative to average drawdown	4.22	13.73	-9.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBIMX vs. SWYNX - Sharpe Ratio Comparison

The current VBIMX Sharpe Ratio is 1.15, which is lower than the SWYNX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of VBIMX and SWYNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBIMX	SWYNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	2.33	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.70	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.73	-0.06

Drawdowns

VBIMX vs. SWYNX - Drawdown Comparison

The maximum VBIMX drawdown since its inception was -19.07%, smaller than the maximum SWYNX drawdown of -31.91%. Use the drawdown chart below to compare losses from any high point for VBIMX and SWYNX.

Drawdown Indicators

	VBIMX	SWYNX	Difference
Max Drawdown Largest peak-to-trough decline	-19.07%	-31.91%	+12.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	-9.01%	+5.59%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	-15.75%	+9.70%
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	-25.90%	+7.06%
Max Drawdown (10Y) Largest decline over 10 years	-19.07%	—	—
Current Drawdown Current decline from peak	-2.11%	-0.71%	-1.40%
Average Drawdown Average peak-to-trough decline	-3.32%	-4.88%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	2.01%	-0.87%

Volatility

VBIMX vs. SWYNX - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) is 1.41%, while Schwab Target 2060 Index Fund (SWYNX) has a volatility of 3.61%. This indicates that VBIMX experiences smaller price fluctuations and is considered to be less risky than SWYNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBIMX	SWYNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	3.61%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	9.48%	-6.48%
Volatility (1Y) Calculated over the trailing 1-year period	4.19%	11.91%	-7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	15.40%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.38%	16.59%	-11.21%

VBIMX vs. SWYNX - Expense Ratio Comparison

VBIMX has a 0.05% expense ratio, which is higher than SWYNX'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%.

Dividends

VBIMX vs. SWYNX - Dividend Comparison

VBIMX's dividend yield for the trailing twelve months is around 4.25%, more than SWYNX's 1.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWYNX Schwab Target 2060 Index Fund	1.71%	1.92%	1.97%	4.00%	1.96%	1.77%	1.66%	1.99%	0.00%	1.45%	0.00%	0.00%
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares	4.25%	4.03%	3.82%	2.82%	2.41%	3.23%	2.95%	2.75%	2.89%	2.76%	3.08%	3.12%

Frequently Asked Questions

Can I hold both VBIMX and SWYNX in my portfolio?

VBIMX and SWYNX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBIMX or SWYNX?

SWYNX has higher volatility (3.61%) compared to VBIMX (1.41%). In terms of maximum drawdown, VBIMX dropped -19.07% vs SWYNX's -31.91%.

Which has better risk-adjusted returns?

SWYNX currently has the higher Sharpe Ratio (2.33 vs 1.15), 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.