VBLIX vs. VBTLX
VBLIX (Vanguard Long-Term Bond Index Fund Institutional Plus) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBLIX returned 0.84%/yr vs 1.58%/yr for VBTLX. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.
Performance
VBLIX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLIX achieves a 0.46% return, which is significantly higher than VBTLX's 0.42% return. Over the past 10 years, VBLIX has underperformed VBTLX with an annualized return of 0.84%, while VBTLX has yielded a comparatively higher 1.58% annualized return.
VBLIX
- 1D
- 0.19%
- 1M
- 1.49%
- YTD
- 0.46%
- 6M
- -0.45%
- 1Y
- 7.10%
- 3Y*
- 1.99%
- 5Y*
- -3.24%
- 10Y*
- 0.84%
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%
VBLIX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | 0.46% | 6.61% | -4.11% | 6.78% | -27.20% | -3.08% | 16.29% | 19.16% | -4.70% | 10.90% |
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 VBLIX and VBTLX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011 | 0.93 |
The correlation between VBLIX and VBTLX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
VBLIX vs. VBTLX — Risk / Return Rank
VBLIX
VBTLX
VBLIX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) 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.
| VBLIX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 1.86 | -0.66 |
| Martin ratioReturn relative to average drawdown | 3.09 | 5.58 | -2.49 |
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
| VBLIX | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.36 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | 0.04 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.32 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.76 | -0.54 |
Drawdowns
VBLIX vs. VBTLX - Drawdown Comparison
The maximum VBLIX drawdown since its inception was -38.61%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VBLIX and VBTLX.
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Drawdown Indicators
| VBLIX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -18.81% | -19.80% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -2.89% | -3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -6.00% | -8.90% |
Max Drawdown (5Y)Largest decline over 5 years | -36.49% | -18.14% | -18.35% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | -18.81% | -19.80% |
Current DrawdownCurrent decline from peak | -24.74% | -2.18% | -22.56% |
Average DrawdownAverage peak-to-trough decline | -11.51% | -2.67% | -8.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 0.96% | +1.34% |
Volatility
VBLIX vs. VBTLX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) has a higher volatility of 2.68% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.38%. This indicates that VBLIX's price experiences larger fluctuations and is considered to be riskier 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
| VBLIX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 1.38% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 2.80% | +3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.32% | 3.97% | +4.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 6.01% | +6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 4.98% | +6.60% |
VBLIX vs. VBTLX - Expense Ratio Comparison
Both VBLIX and VBTLX have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VBLIX vs. VBTLX - Dividend Comparison
VBLIX's dividend yield for the trailing twelve months is around 4.78%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus | 4.78% | 4.67% | 4.64% | 3.42% | 4.17% | 2.89% | 5.85% | 3.63% | 3.83% | 3.71% | 4.20% | 5.00% |
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
With a correlation of 0.93, VBLIX and VBTLX 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.
VBLIX has higher volatility (2.68%) compared to VBTLX (1.38%). In terms of maximum drawdown, VBLIX dropped -38.61% vs VBTLX's -18.81%.
VBTLX currently has the higher Sharpe Ratio (1.36 vs 0.86), 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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