VBIMX vs. VFSIX
VBIMX (Vanguard Intermediate-Term Bond Index Fund Institutional Shares) and VFSIX (Vanguard Short-Term Investment-Grade Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBIMX returned 1.89%/yr vs 2.62%/yr for VFSIX. Their correlation of 0.81 suggests significant overlap in exposure. VBIMX charges 0.05%/yr vs 0.07%/yr for VFSIX.
Performance
VBIMX vs. VFSIX - Performance Comparison
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Returns By Period
In the year-to-date period, VBIMX achieves a -0.33% return, which is significantly lower than VFSIX's 0.73% return. Over the past 10 years, VBIMX has underperformed VFSIX with an annualized return of 1.89%, while VFSIX has yielded a comparatively higher 2.62% annualized 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%
VFSIX
- 1D
- -0.10%
- 1M
- 0.21%
- YTD
- 0.73%
- 6M
- 1.12%
- 1Y
- 4.52%
- 3Y*
- 5.51%
- 5Y*
- 2.33%
- 10Y*
- 2.62%
VBIMX vs. VFSIX - 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% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 0.73% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
Correlation
The correlation between VBIMX and VFSIX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2006 | 0.81 |
The correlation between VBIMX and VFSIX has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
VBIMX vs. VFSIX — Risk / Return Rank
VBIMX
VFSIX
VBIMX vs. VFSIX - 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 Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX). 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 | VFSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.46 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.78 | -1.37 |
| Martin ratioReturn relative to average drawdown | 4.22 | 11.00 | -6.77 |
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
| VBIMX | VFSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 2.04 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.78 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 1.06 | -0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 1.53 | -0.86 |
Drawdowns
VBIMX vs. VFSIX - Drawdown Comparison
The maximum VBIMX drawdown since its inception was -19.07%, which is greater than VFSIX's maximum drawdown of -9.21%. Use the drawdown chart below to compare losses from any high point for VBIMX and VFSIX.
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Drawdown Indicators
| VBIMX | VFSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -9.21% | -9.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -1.71% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -6.05% | -1.71% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -9.21% | -9.63% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | -9.21% | -9.86% |
Current DrawdownCurrent decline from peak | -2.11% | -0.32% | -1.79% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -0.79% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.43% | +0.71% |
Volatility
VBIMX vs. VFSIX - Volatility Comparison
Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) has a higher volatility of 1.41% compared to Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) at 0.75%. This indicates that VBIMX's price experiences larger fluctuations and is considered to be riskier than VFSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIMX | VFSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 0.75% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.00% | 1.67% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 2.33% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 2.99% | +3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.38% | 2.49% | +2.89% |
VBIMX vs. VFSIX - Expense Ratio Comparison
VBIMX has a 0.05% expense ratio, which is lower than VFSIX's 0.07% 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
VBIMX vs. VFSIX - Dividend Comparison
VBIMX's dividend yield for the trailing twelve months is around 4.25%, less than VFSIX's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.74% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
Frequently Asked Questions
VBIMX and VFSIX 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.
VBIMX has higher volatility (1.41%) compared to VFSIX (0.75%). In terms of maximum drawdown, VBIMX dropped -19.07% vs VFSIX's -9.21%.
VFSIX currently has the higher Sharpe Ratio (2.04 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.
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