VBIPX vs. VBTIX
VBIPX (Vanguard Short-Term Bond Index Fund Institutional Plus) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBIPX returned 1.82%/yr vs 1.29%/yr for VBTIX. Their correlation of 0.81 means they have usually moved in the same direction. VBIPX charges 0.04%/yr vs 0.03%/yr for VBTIX.
Performance
VBIPX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VBIPX achieves a 0.16% return, which is significantly higher than VBTIX's -0.70% return. Over the past 10 years, VBIPX has outperformed VBTIX with an annualized return of 1.82%, while VBTIX has yielded a comparatively lower 1.29% 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%
VBTIX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.70%
- 1Y
- 1.68%
- 3Y*
- 3.70%
- 5Y*
- -0.44%
- 10Y*
- 1.29%
- ALL TIME*
- 4.17%
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. VBTIX - 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% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | -0.70% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VBIPX and VBTIX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011 | 0.81 |
The correlation between VBIPX and VBTIX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
VBIPX vs. VBTIX — Risk / Return Rank
VBIPX
VBTIX
VBIPX vs. VBTIX - 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 Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX). 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 | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.13 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.00 | +1.00 |
| Martin ratioReturn relative to average drawdown | 5.69 | 2.49 | +3.20 |
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Drawdowns
VBIPX vs. VBTIX - Drawdown Comparison
The maximum VBIPX drawdown since its inception was -8.72%, smaller than the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VBIPX and VBTIX.
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Drawdown Indicators
| VBIPX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.72% | -18.90% | +10.18% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -2.89% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -1.54% | -4.86% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -8.60% | -18.13% | +9.53% |
Max Drawdown (10Y)Largest decline over 10 years | -8.72% | -18.90% | +10.18% |
Current DrawdownCurrent decline from peak | -0.78% | -3.34% | +2.56% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -2.32% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 1.15% | -0.61% |
Volatility
VBIPX vs. VBTIX - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Plus (VBIPX) is 0.49%, while Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a volatility of 0.96%. This indicates that VBIPX experiences smaller price fluctuations and is considered to be less risky than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIPX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 0.96% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 2.97% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 3.82% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 6.02% | -3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 4.98% | -2.57% |
VBIPX vs. VBTIX - Expense Ratio Comparison
VBIPX has a 0.04% expense ratio, which is higher than VBTIX's 0.03% 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
VBIPX vs. VBTIX - Dividend Comparison
VBIPX's dividend yield for the trailing twelve months is around 3.72%, which matches VBTIX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.73% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
Frequently Asked Questions
VBIPX and VBTIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTIX has higher volatility (0.96%) compared to VBIPX (0.49%). In terms of maximum drawdown, VBIPX dropped -8.72% vs VBTIX's -18.90%.
VBIPX currently has the higher Sharpe Ratio (1.38 vs 0.76), 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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