VBITX vs. ALFAX
VBITX (Vanguard Short-Term Bond Index Fund Institutional Shares) and ALFAX (Lord Abbett Alpha Strategy Fund) are both mutual funds - VBITX is a Total Bond Market fund managed by Vanguard, while ALFAX is a Small Cap Growth Equities fund managed by Lord Abbett. Over the past 10 years, VBITX returned 1.86%/yr vs 11.14%/yr for ALFAX. At a correlation of -0.08, they often move in opposite directions. VBITX charges 0.05%/yr vs 1.40%/yr for ALFAX.
Performance
VBITX vs. ALFAX - Performance Comparison
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Returns By Period
In the year-to-date period, VBITX achieves a 0.21% return, which is significantly lower than ALFAX's 20.22% return. Over the past 10 years, VBITX has underperformed ALFAX with an annualized return of 1.86%, while ALFAX has yielded a comparatively higher 11.14% annualized return.
VBITX
- 1D
- 0.20%
- 1M
- 0.25%
- YTD
- 0.21%
- 6M
- 0.65%
- 1Y
- 3.15%
- 3Y*
- 4.46%
- 5Y*
- 1.60%
- 10Y*
- 1.86%
ALFAX
- 1D
- 0.16%
- 1M
- 1.03%
- YTD
- 20.22%
- 6M
- 17.80%
- 1Y
- 32.17%
- 3Y*
- 16.55%
- 5Y*
- 5.23%
- 10Y*
- 11.14%
VBITX vs. ALFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBITX Vanguard Short-Term Bond Index Fund Institutional Shares | 0.21% | 6.11% | 3.77% | 4.43% | -5.61% | -1.18% | 4.72% | 4.89% | 1.38% | 1.20% |
ALFAX Lord Abbett Alpha Strategy Fund | 20.22% | 8.80% | 13.18% | 13.92% | -23.50% | 15.01% | 26.16% | 24.95% | -9.72% | 20.61% |
Correlation
The correlation between VBITX and ALFAX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2011 | -0.08 |
The correlation between VBITX and ALFAX shifts across timeframes, from -0.08 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VBITX vs. ALFAX — Risk / Return Rank
VBITX
ALFAX
VBITX vs. ALFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund Institutional Shares (VBITX) and Lord Abbett Alpha Strategy Fund (ALFAX). 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.
| VBITX | ALFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.05 | -0.94 |
| Martin ratioReturn relative to average drawdown | 6.46 | 11.61 | -5.15 |
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Drawdowns
VBITX vs. ALFAX - Drawdown Comparison
The maximum VBITX drawdown since its inception was -8.65%, smaller than the maximum ALFAX drawdown of -57.11%. Use the drawdown chart below to compare losses from any high point for VBITX and ALFAX.
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Drawdown Indicators
| VBITX | ALFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -57.11% | +48.46% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -10.31% | +8.77% |
Max Drawdown (3Y)Largest decline over 3 years | -1.54% | -25.01% | +23.47% |
Max Drawdown (5Y)Largest decline over 5 years | -8.61% | -33.88% | +25.27% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -40.29% | +31.64% |
Current DrawdownCurrent decline from peak | -0.72% | -1.73% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -12.84% | +11.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.71% | -2.21% |
Volatility
VBITX vs. ALFAX - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Shares (VBITX) is 0.74%, while Lord Abbett Alpha Strategy Fund (ALFAX) has a volatility of 7.05%. This indicates that VBITX experiences smaller price fluctuations and is considered to be less risky than ALFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBITX | ALFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 7.05% | -6.31% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 14.23% | -12.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.29% | 17.86% | -15.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 20.01% | -17.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 20.74% | -18.33% |
VBITX vs. ALFAX - Expense Ratio Comparison
VBITX has a 0.05% expense ratio, which is lower than ALFAX's 1.40% expense ratio.
Dividends
VBITX vs. ALFAX - Dividend Comparison
VBITX's dividend yield for the trailing twelve months is around 4.02%, less than ALFAX's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALFAX Lord Abbett Alpha Strategy Fund | 4.41% | 5.30% | 0.80% | 0.46% | 6.94% | 5.38% | 7.99% | 14.66% | 16.61% | 11.96% | 11.85% | 15.83% |
VBITX Vanguard Short-Term Bond Index Fund Institutional Shares | 4.02% | 3.85% | 3.39% | 1.99% | 1.48% | 1.24% | 1.80% | 2.26% | 2.03% | 1.69% | 1.52% | 1.44% |
Frequently Asked Questions
VBITX and ALFAX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALFAX has higher volatility (7.05%) compared to VBITX (0.74%). In terms of maximum drawdown, VBITX dropped -8.65% vs ALFAX's -57.11%.
ALFAX currently has the higher Sharpe Ratio (1.77 vs 1.42), 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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