VBLAX vs. SPY
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and State Street SPDR S&P 500 ETF (SPY).
VBLAX is managed by Vanguard. It was launched on Feb 7, 2019. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
VBLAX vs. SPY - Performance Comparison
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VBLAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -1.15% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 21.40% |
Returns By Period
In the year-to-date period, VBLAX achieves a -1.15% return, which is significantly higher than SPY's -4.37% return.
VBLAX
- 1D
- 1.07%
- 1M
- -4.25%
- YTD
- -1.15%
- 6M
- -1.40%
- 1Y
- 1.61%
- 3Y*
- 0.74%
- 5Y*
- -2.98%
- 10Y*
- —
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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VBLAX vs. SPY - Expense Ratio Comparison
VBLAX has a 0.07% expense ratio, which is lower than SPY's 0.09% 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
VBLAX vs. SPY — Risk / Return Rank
VBLAX
SPY
VBLAX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and State Street SPDR S&P 500 ETF (SPY). 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.
| VBLAX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.93 | -0.65 |
Sortino ratioReturn per unit of downside risk | 0.43 | 1.45 | -1.02 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.22 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 0.53 | 1.53 | -0.99 |
Martin ratioReturn relative to average drawdown | 1.30 | 7.30 | -5.99 |
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
| VBLAX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.93 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | 0.69 | -0.92 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.56 | -0.53 |
Correlation
The correlation between VBLAX and SPY is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VBLAX vs. SPY - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.34%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.34% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
VBLAX vs. SPY - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for VBLAX and SPY.
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Drawdown Indicators
| VBLAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -55.19% | +16.57% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -12.05% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -24.50% | -11.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -25.71% | -6.24% | -19.47% |
Average DrawdownAverage peak-to-trough decline | -17.93% | -9.09% | -8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 2.52% | +0.29% |
Volatility
VBLAX vs. SPY - Volatility Comparison
The current volatility for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) is 3.34%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that VBLAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 5.31% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 5.47% | 9.47% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.52% | 19.05% | -9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 17.06% | -4.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.74% | 17.92% | -5.18% |