VBIPX vs. IEI
Compare and contrast key facts about Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) and iShares 3-7 Year Treasury Bond ETF (IEI).
VBIPX is managed by Vanguard. It was launched on Sep 29, 2011. IEI is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 3-7 Year Treasury Bond Index. It was launched on Jan 11, 2007.
Performance
VBIPX vs. IEI - Performance Comparison
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VBIPX vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | -0.32% | 6.12% | 3.78% | 4.45% | -5.68% | -1.17% | 4.73% | 4.89% | 1.38% | 1.21% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.05% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Returns By Period
In the year-to-date period, VBIPX achieves a -0.32% return, which is significantly lower than IEI's -0.05% return. Over the past 10 years, VBIPX has outperformed IEI with an annualized return of 1.87%, while IEI has yielded a comparatively lower 1.35% annualized return.
VBIPX
- 1D
- 0.20%
- 1M
- -1.25%
- YTD
- -0.32%
- 6M
- 0.88%
- 1Y
- 3.67%
- 3Y*
- 4.00%
- 5Y*
- 1.50%
- 10Y*
- 1.87%
IEI
- 1D
- 0.14%
- 1M
- -1.49%
- YTD
- -0.05%
- 6M
- 1.02%
- 1Y
- 4.01%
- 3Y*
- 3.43%
- 5Y*
- 0.47%
- 10Y*
- 1.35%
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VBIPX vs. IEI - Expense Ratio Comparison
VBIPX has a 0.04% expense ratio, which is lower than IEI's 0.15% 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%.
Return for Risk
VBIPX vs. IEI — Risk / Return Rank
VBIPX
IEI
VBIPX vs. IEI - 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 iShares 3-7 Year Treasury Bond ETF (IEI). 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.
| VBIPX | IEI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 1.17 | +0.54 |
Sortino ratioReturn per unit of downside risk | 2.83 | 1.76 | +1.07 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.21 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.80 | 1.88 | +0.92 |
Martin ratioReturn relative to average drawdown | 10.37 | 6.05 | +4.32 |
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
| VBIPX | IEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.17 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.10 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.35 | +0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.71 | +0.07 |
Correlation
The correlation between VBIPX and IEI is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBIPX vs. IEI - Dividend Comparison
VBIPX's dividend yield for the trailing twelve months is around 3.63%, more than IEI's 3.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIPX Vanguard Short-Term Bond Index Fund Institutional Plus | 3.63% | 3.86% | 3.40% | 2.01% | 1.40% | 1.26% | 1.82% | 2.27% | 2.04% | 1.69% | 1.53% | 1.46% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.55% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Drawdowns
VBIPX vs. IEI - Drawdown Comparison
The maximum VBIPX drawdown since its inception was -8.72%, smaller than the maximum IEI drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for VBIPX and IEI.
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Drawdown Indicators
| VBIPX | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.72% | -14.60% | +5.88% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -2.20% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -8.69% | -13.88% | +5.19% |
Max Drawdown (10Y)Largest decline over 10 years | -8.72% | -14.60% | +5.88% |
Current DrawdownCurrent decline from peak | -1.25% | -1.49% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -1.19% | -2.68% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.68% | -0.26% |
Volatility
VBIPX vs. IEI - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) is 0.75%, while iShares 3-7 Year Treasury Bond ETF (IEI) has a volatility of 1.25%. This indicates that VBIPX experiences smaller price fluctuations and is considered to be less risky than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIPX | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.25% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 2.06% | -0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 3.44% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.93% | 4.75% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.39% | 3.93% | -1.54% |