VBIRX vs. BSV
VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both Short-Term Bond funds from Vanguard - VBIRX tracks the Bloomberg U.S. 1-5 Year Government/Credit Float Adjusted Index while BSV tracks the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, VBIRX returned 1.85%/yr vs 1.90%/yr for BSV. Their 0.77 correlation means they have sometimes moved together and sometimes differently. VBIRX charges 0.06%/yr vs 0.03%/yr for BSV.
Performance
VBIRX vs. BSV - Performance Comparison
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Returns By Period
In the year-to-date period, VBIRX achieves a 0.14% return, which is significantly lower than BSV's 0.42% return. Both investments have delivered pretty close results over the past 10 years, with VBIRX having a 1.85% annualized return and BSV not far ahead at 1.90%.
VBIRX
- 1D
- 0.00%
- 1M
- -0.29%
- 6M
- 0.00%
- YTD
- 0.14%
- 1Y
- 2.10%
- 3Y*
- 4.40%
- 5Y*
- 1.54%
- 10Y*
- 1.85%
- ALL TIME*
- 2.58%
BSV
- 1D
- -0.08%
- 1M
- -0.22%
- 6M
- 0.27%
- YTD
- 0.42%
- 1Y
- 2.36%
- 3Y*
- 4.55%
- 5Y*
- 1.61%
- 10Y*
- 1.90%
- ALL TIME*
- 2.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $124.18M | $168.72M | $200.19M | |
| $0.00 | $0.00 | $0.00 |
VBIRX vs. BSV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 0.14% | 6.09% | 3.75% | 4.87% | -5.63% | -1.20% | 4.69% | 4.86% | 1.37% | 1.18% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.42% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
Correlation
The correlation between VBIRX and BSV is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.77 |
The correlation between VBIRX and BSV shifts across timeframes, from 0.77 (all time) to 0.90 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBIRX vs. BSV — Risk / Return Rank
VBIRX
BSV
VBIRX vs. BSV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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.
| VBIRX | BSV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.33 | -0.35 |
| Martin ratioReturn relative to average drawdown | 5.56 | 7.21 | -1.64 |
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Drawdowns
VBIRX vs. BSV - Drawdown Comparison
The maximum VBIRX drawdown since its inception was -8.69%, roughly equal to the maximum BSV drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for VBIRX and BSV.
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Drawdown Indicators
| VBIRX | BSV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.69% | -8.54% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -1.29% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -1.55% | -1.53% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -8.55% | -8.48% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -8.69% | -8.54% | -0.15% |
Current DrawdownCurrent decline from peak | -0.79% | -0.50% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -0.98% | -0.97% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.42% | +0.13% |
Volatility
VBIRX vs. BSV - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) is 0.46%, while Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a volatility of 0.49%. This indicates that VBIRX experiences smaller price fluctuations and is considered to be less risky than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIRX | BSV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 0.49% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 1.41% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.24% | 1.81% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.98% | 2.74% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.40% | 2.38% | +0.02% |
VBIRX vs. BSV - Expense Ratio Comparison
VBIRX has a 0.06% expense ratio, which is higher than BSV'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
VBIRX vs. BSV - Dividend Comparison
VBIRX's dividend yield for the trailing twelve months is around 3.69%, less than BSV's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.68% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 3.69% | 3.83% | 3.37% | 2.41% | 1.46% | 1.22% | 1.77% | 2.24% | 2.03% | 1.66% | 1.50% | 1.41% |
Frequently Asked Questions
VBIRX and BSV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSV has higher volatility (0.49%) compared to VBIRX (0.46%). In terms of maximum drawdown, VBIRX dropped -8.69% vs BSV's -8.54%.
BSV currently has the higher Sharpe Ratio (1.66 vs 1.37), 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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