VBLAX vs. VBTIX
VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both Total Bond Market funds from Vanguard. Over the past 5 years, VBLAX returned -5.20%/yr vs -0.48%/yr for VBTIX. Their correlation of 0.94 means they have usually moved in the same direction. VBLAX charges 0.07%/yr vs 0.03%/yr for VBTIX.
Performance
VBLAX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLAX achieves a -3.42% return, which is significantly lower than VBTIX's -0.90% return.
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
VBTIX
- 1D
- -0.21%
- 1M
- -1.45%
- 6M
- -0.93%
- YTD
- -0.90%
- 1Y
- 1.47%
- 3Y*
- 3.81%
- 5Y*
- -0.48%
- 10Y*
- 1.30%
- ALL TIME*
- 4.16%
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 |
VBLAX vs. VBTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | -0.90% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 7.85% |
Correlation
The correlation between VBLAX and VBTIX is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.94 |
The correlation between VBLAX and VBTIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
VBLAX vs. VBTIX — Risk / Return Rank
VBLAX
VBTIX
VBLAX vs. VBTIX - 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 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.
| VBLAX | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.11 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.80 | -0.82 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1.99 | -2.03 |
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Drawdowns
VBLAX vs. VBTIX - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than VBTIX's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VBLAX and VBTIX.
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Drawdown Indicators
| VBLAX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -18.90% | -19.72% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -2.89% | -3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -4.86% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -17.97% | -18.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.90% | — |
Current DrawdownCurrent decline from peak | -27.42% | -3.55% | -23.87% |
Average DrawdownAverage peak-to-trough decline | -18.25% | -2.32% | -15.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.16% | +1.59% |
Volatility
VBLAX vs. VBTIX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 2.10% compared to Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) at 0.96%. This indicates that VBLAX's price experiences larger fluctuations and is considered to be riskier 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
| VBLAX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 0.96% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 2.98% | +3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 3.82% | +4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 6.02% | +6.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 4.98% | +7.58% |
VBLAX vs. VBTIX - Expense Ratio Comparison
VBLAX has a 0.07% 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
VBLAX vs. VBTIX - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.54%, more than VBTIX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
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
With a correlation of 0.92, VBLAX and VBTIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VBLAX has higher volatility (2.10%) compared to VBTIX (0.96%). In terms of maximum drawdown, VBLAX dropped -38.62% vs VBTIX's -18.90%.
VBTIX currently has the higher Sharpe Ratio (0.61 vs -0.02), 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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