VBIPX vs. DFREX
VBIPX (Vanguard Short-Term Bond Index Fund Institutional Plus) and DFREX (DFA Real Estate Securities Portfolio Class I) are both mutual funds - VBIPX is a Total Bond Market fund managed by Vanguard, while DFREX is a REIT fund managed by Dimensional. Over the past 10 years, VBIPX returned 1.82%/yr vs 5.23%/yr for DFREX. Their 0.13 correlation means their historical movements had little consistent relationship. VBIPX charges 0.04%/yr vs 0.18%/yr for DFREX.
Performance
VBIPX vs. DFREX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VBIPX achieves a 0.16% return, which is significantly lower than DFREX's 18.16% return. Over the past 10 years, VBIPX has underperformed DFREX with an annualized return of 1.82%, while DFREX has yielded a comparatively higher 5.23% annualized return.
VBIPX
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- 0.01%
- YTD
- 0.16%
- 1Y
- 2.13%
- 3Y*
- 4.34%
- 5Y*
- 1.46%
- 10Y*
- 1.82%
- ALL TIME*
- 1.67%
DFREX
- 1D
- -1.44%
- 1M
- 1.35%
- 6M
- 15.08%
- YTD
- 18.16%
- 1Y
- 19.81%
- 3Y*
- 10.29%
- 5Y*
- 3.33%
- 10Y*
- 5.23%
- ALL TIME*
- 9.17%
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 |
VBIPX vs. DFREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 0.16% | 6.12% | 3.78% | 4.45% | -5.68% | -1.17% | 4.73% | 4.89% | 1.38% | 1.21% |
DFREX DFA Real Estate Securities Portfolio Class I | 18.16% | 1.52% | 5.52% | 11.20% | -24.93% | 41.88% | -5.03% | 28.12% | -3.01% | 4.25% |
Correlation
The correlation between VBIPX and DFREX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011 | 0.13 |
The correlation between VBIPX and DFREX shifts across timeframes, from 0.13 (all time) to 0.30 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VBIPX vs. DFREX — Risk / Return Rank
VBIPX
DFREX
VBIPX vs. DFREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) and DFA Real Estate Securities Portfolio Class I (DFREX). 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.
| VBIPX | DFREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.14 | -0.14 |
| Martin ratioReturn relative to average drawdown | 5.69 | 7.17 | -1.48 |
Loading charts...
Drawdowns
VBIPX vs. DFREX - Drawdown Comparison
The maximum VBIPX drawdown since its inception was -8.72%, smaller than the maximum DFREX drawdown of -74.36%. Use the drawdown chart below to compare losses from any high point for VBIPX and DFREX.
Loading charts...
Drawdown Indicators
| VBIPX | DFREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.72% | -74.36% | +65.64% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -8.40% | +6.86% |
Max Drawdown (3Y)Largest decline over 3 years | -1.54% | -17.64% | +16.10% |
Max Drawdown (5Y)Largest decline over 5 years | -8.60% | -33.11% | +24.51% |
Max Drawdown (10Y)Largest decline over 10 years | -8.72% | -41.49% | +32.77% |
Current DrawdownCurrent decline from peak | -0.78% | -1.71% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -11.29% | +10.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 2.59% | -2.05% |
Volatility
VBIPX vs. DFREX - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) is 0.49%, while DFA Real Estate Securities Portfolio Class I (DFREX) has a volatility of 4.43%. This indicates that VBIPX experiences smaller price fluctuations and is considered to be less risky than DFREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VBIPX | DFREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 4.43% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 10.87% | -9.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 13.86% | -11.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 18.77% | -15.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 20.35% | -17.94% |
VBIPX vs. DFREX - Expense Ratio Comparison
VBIPX has a 0.04% expense ratio, which is lower than DFREX's 0.18% 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
VBIPX vs. DFREX - Dividend Comparison
VBIPX's dividend yield for the trailing twelve months is around 3.72%, more than DFREX's 2.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFREX DFA Real Estate Securities Portfolio Class I | 2.73% | 2.84% | 2.97% | 3.59% | 6.24% | 2.56% | 3.36% | 2.23% | 4.88% | 1.89% | 2.83% | 2.86% |
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 3.72% | 3.86% | 3.40% | 2.01% | 1.40% | 1.26% | 1.82% | 2.27% | 2.04% | 1.69% | 1.53% | 1.46% |
Frequently Asked Questions
VBIPX and DFREX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFREX has higher volatility (4.43%) compared to VBIPX (0.49%). In terms of maximum drawdown, VBIPX dropped -8.72% vs DFREX's -74.36%.
VBIPX currently has the higher Sharpe Ratio (1.38 vs 1.30), 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.
Find the right allocation for VBIPX and DFREX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer