VBITX vs. VBTLX
VBITX (Vanguard Short-Term Bond Index Fund Institutional Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBITX returned 1.90%/yr vs 1.58%/yr for VBTLX. Their correlation of 0.81 suggests significant overlap in exposure. VBITX charges 0.05%/yr vs 0.04%/yr for VBTLX.
Performance
VBITX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VBITX achieves a 0.31% return, which is significantly lower than VBTLX's 0.42% return. Over the past 10 years, VBITX has outperformed VBTLX with an annualized return of 1.90%, while VBTLX has yielded a comparatively lower 1.58% annualized return.
VBITX
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 0.31%
- 6M
- 0.55%
- 1Y
- 3.76%
- 3Y*
- 4.35%
- 5Y*
- 1.56%
- 10Y*
- 1.90%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VBITX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBITX Vanguard Short-Term Bond Index Fund Institutional Shares | 0.31% | 6.11% | 3.77% | 4.43% | -5.61% | -1.18% | 4.72% | 4.89% | 1.38% | 1.20% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VBITX and VBTLX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011 | 0.81 |
The correlation between VBITX and VBTLX has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.
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Return for Risk
VBITX vs. VBTLX — Risk / Return Rank
VBITX
VBTLX
VBITX vs. VBTLX - 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 Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VBITX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 1.86 | +0.59 |
| Martin ratioReturn relative to average drawdown | 8.04 | 5.58 | +2.46 |
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
| VBITX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 1.36 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.04 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.32 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.76 | +0.03 |
Drawdowns
VBITX vs. VBTLX - Drawdown Comparison
The maximum VBITX drawdown since its inception was -8.65%, smaller than the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VBITX and VBTLX.
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Drawdown Indicators
| VBITX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.65% | -18.81% | +10.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.54% | -2.89% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -1.54% | -6.00% | +4.46% |
Max Drawdown (5Y)Largest decline over 5 years | -8.61% | -18.14% | +9.53% |
Max Drawdown (10Y)Largest decline over 10 years | -8.65% | -18.81% | +10.16% |
Current DrawdownCurrent decline from peak | -0.62% | -2.18% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -1.18% | -2.67% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.96% | -0.49% |
Volatility
VBITX vs. VBTLX - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund Institutional Shares (VBITX) is 0.73%, while Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a volatility of 1.38%. This indicates that VBITX experiences smaller price fluctuations and is considered to be less risky than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBITX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 1.38% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 2.80% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.27% | 3.97% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.96% | 6.01% | -3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.40% | 4.98% | -2.58% |
VBITX vs. VBTLX - Expense Ratio Comparison
VBITX has a 0.05% expense ratio, which is higher than VBTLX's 0.04% 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
VBITX vs. VBTLX - Dividend Comparison
VBITX's dividend yield for the trailing twelve months is around 4.01%, which matches VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBITX Vanguard Short-Term Bond Index Fund Institutional Shares | 4.01% | 3.85% | 3.39% | 1.99% | 1.48% | 1.24% | 1.80% | 2.26% | 2.03% | 1.69% | 1.52% | 1.44% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
VBITX and VBTLX 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.
VBTLX has higher volatility (1.38%) compared to VBITX (0.73%). In terms of maximum drawdown, VBITX dropped -8.65% vs VBTLX's -18.81%.
VBITX currently has the higher Sharpe Ratio (1.66 vs 1.36), 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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