VBLIX vs. VWLTX
VBLIX (Vanguard Long-Term Bond Index Fund Institutional Plus) and VWLTX (Vanguard Long-Term Tax-Exempt Fund Investor Shares) are both mutual funds - VBLIX is a Total Bond Market fund managed by Vanguard, while VWLTX is a Municipal Bonds fund managed by Vanguard. Over the past 10 years, VBLIX returned 0.84%/yr vs 2.62%/yr for VWLTX. A 0.53 correlation means they provide meaningful diversification when combined. VBLIX charges 0.04%/yr vs 0.17%/yr for VWLTX.
Performance
VBLIX vs. VWLTX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLIX achieves a 0.46% return, which is significantly lower than VWLTX's 1.94% return. Over the past 10 years, VBLIX has underperformed VWLTX with an annualized return of 0.84%, while VWLTX has yielded a comparatively higher 2.62% 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%
VWLTX
- 1D
- 0.28%
- 1M
- 0.87%
- YTD
- 1.94%
- 6M
- 2.35%
- 1Y
- 8.40%
- 3Y*
- 4.67%
- 5Y*
- 1.24%
- 10Y*
- 2.62%
VBLIX vs. VWLTX - 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% |
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 1.94% | 4.80% | 2.44% | 7.56% | -10.43% | 1.83% | 6.21% | 8.77% | 0.89% | 6.45% |
Correlation
The correlation between VBLIX and VWLTX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2011 | 0.53 |
The correlation between VBLIX and VWLTX shifts across timeframes, from 0.52 (10 years) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBLIX vs. VWLTX — Risk / Return Rank
VBLIX
VWLTX
VBLIX vs. VWLTX - 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 Long-Term Tax-Exempt Fund Investor Shares (VWLTX). 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 | VWLTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.68 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.70 | -1.51 |
| Martin ratioReturn relative to average drawdown | 3.09 | 9.64 | -6.55 |
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 | VWLTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.71 | -1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | 0.27 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.58 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.54 | -0.31 |
Drawdowns
VBLIX vs. VWLTX - Drawdown Comparison
The maximum VBLIX drawdown since its inception was -38.61%, smaller than the maximum VWLTX drawdown of -49.97%. Use the drawdown chart below to compare losses from any high point for VBLIX and VWLTX.
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Drawdown Indicators
| VBLIX | VWLTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -49.97% | +11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -3.09% | -2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -6.92% | -7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -36.49% | -16.01% | -20.48% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | -16.01% | -22.60% |
Current DrawdownCurrent decline from peak | -24.74% | -0.24% | -24.50% |
Average DrawdownAverage peak-to-trough decline | -11.51% | -10.18% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 0.86% | +1.44% |
Volatility
VBLIX vs. VWLTX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) has a higher volatility of 2.68% compared to Vanguard Long-Term Tax-Exempt Fund Investor Shares (VWLTX) at 1.26%. This indicates that VBLIX's price experiences larger fluctuations and is considered to be riskier than VWLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLIX | VWLTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 1.26% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 2.32% | +3.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.32% | 3.09% | +5.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 4.60% | +8.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 4.51% | +7.07% |
VBLIX vs. VWLTX - Expense Ratio Comparison
VBLIX has a 0.04% expense ratio, which is lower than VWLTX's 0.17% 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%.
Dividends
VBLIX vs. VWLTX - Dividend Comparison
VBLIX's dividend yield for the trailing twelve months is around 4.78%, more than VWLTX's 3.69% 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% |
VWLTX Vanguard Long-Term Tax-Exempt Fund Investor Shares | 3.69% | 4.51% | 3.98% | 3.09% | 2.91% | 2.65% | 3.24% | 3.82% | 3.49% | 3.70% | 3.98% | 3.79% |
Frequently Asked Questions
VBLIX and VWLTX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBLIX has higher volatility (2.68%) compared to VWLTX (1.26%). In terms of maximum drawdown, VBLIX dropped -38.61% vs VWLTX's -49.97%.
VWLTX currently has the higher Sharpe Ratio (2.71 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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