VBLLX vs. BND
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) and Vanguard Total Bond Market ETF (BND).
VBLLX is managed by Vanguard. It was launched on Feb 2, 2006. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
VBLLX vs. BND - Performance Comparison
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VBLLX vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | -1.24% | 6.60% | -4.12% | 7.13% | -27.20% | -3.08% | 16.27% | 19.15% | -4.71% | 10.89% |
BND Vanguard Total Bond Market ETF | 0.05% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Returns By Period
In the year-to-date period, VBLLX achieves a -1.24% return, which is significantly lower than BND's 0.05% return. Over the past 10 years, VBLLX has underperformed BND with an annualized return of 1.00%, while BND has yielded a comparatively higher 1.67% annualized return.
VBLLX
- 1D
- 1.07%
- 1M
- -4.25%
- YTD
- -1.24%
- 6M
- -1.49%
- 1Y
- 1.54%
- 3Y*
- 0.60%
- 5Y*
- -3.06%
- 10Y*
- 1.00%
BND
- 1D
- 0.22%
- 1M
- -1.74%
- YTD
- 0.05%
- 6M
- 0.95%
- 1Y
- 4.24%
- 3Y*
- 3.59%
- 5Y*
- 0.24%
- 10Y*
- 1.67%
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VBLLX vs. BND - Expense Ratio Comparison
VBLLX has a 0.05% expense ratio, which is higher than BND'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%.
Return for Risk
VBLLX vs. BND — Risk / Return Rank
VBLLX
BND
VBLLX vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) and Vanguard Total Bond Market ETF (BND). 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.
| VBLLX | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.28 | 0.99 | -0.72 |
Sortino ratioReturn per unit of downside risk | 0.43 | 1.41 | -0.97 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.18 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.52 | 1.81 | -1.29 |
Martin ratioReturn relative to average drawdown | 1.28 | 4.98 | -3.70 |
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
| VBLLX | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.28 | 0.99 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.04 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | 0.30 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.59 | -0.23 |
Correlation
The correlation between VBLLX and BND is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBLLX vs. BND - Dividend Comparison
VBLLX's dividend yield for the trailing twelve months is around 4.37%, more than BND's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | 4.37% | 4.66% | 4.64% | 3.75% | 4.16% | 2.89% | 5.84% | 3.62% | 3.82% | 3.69% | 4.19% | 4.98% |
BND Vanguard Total Bond Market ETF | 3.91% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Drawdowns
VBLLX vs. BND - Drawdown Comparison
The maximum VBLLX drawdown since its inception was -38.42%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VBLLX and BND.
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Drawdown Indicators
| VBLLX | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.42% | -18.58% | -19.84% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -2.44% | -4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -36.29% | -17.91% | -18.38% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | -18.58% | -19.84% |
Current DrawdownCurrent decline from peak | -25.79% | -2.58% | -23.21% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -3.07% | -5.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 0.89% | +1.92% |
Volatility
VBLLX vs. BND - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) has a higher volatility of 3.42% compared to Vanguard Total Bond Market ETF (BND) at 1.63%. This indicates that VBLLX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLLX | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 1.63% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 2.52% | +2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.55% | 4.30% | +5.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 6.00% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 5.52% | +6.06% |