VBLLX vs. SWAGX
VBLLX (Vanguard Long-Term Bond Index Fund Institutional Shares) and SWAGX (Schwab U.S. Aggregate Bond Index Fund) are both Total Bond Market funds. Over the past 5 years, VBLLX returned -5.26%/yr vs -0.67%/yr for SWAGX. Their correlation of 0.90 means they have usually moved in the same direction. VBLLX charges 0.05%/yr vs 0.04%/yr for SWAGX.
Performance
VBLLX vs. SWAGX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLLX achieves a -3.40% return, which is significantly lower than SWAGX's -0.96% return.
VBLLX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.24%
- YTD
- -3.40%
- 1Y
- -1.14%
- 3Y*
- 1.12%
- 5Y*
- -5.26%
- 10Y*
- 0.08%
- ALL TIME*
- 3.79%
SWAGX
- 1D
- -0.23%
- 1M
- -1.46%
- 6M
- -1.08%
- YTD
- -0.96%
- 1Y
- 1.54%
- 3Y*
- 3.78%
- 5Y*
- -0.67%
- 10Y*
- —
- ALL TIME*
- 1.44%
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 |
VBLLX vs. SWAGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | -3.40% | 6.60% | -4.12% | 7.13% | -27.20% | -3.08% | 16.27% | 19.15% | -4.71% | 9.70% |
SWAGX Schwab U.S. Aggregate Bond Index Fund | -0.96% | 7.11% | 1.38% | 5.46% | -13.62% | -2.29% | 7.39% | 8.64% | -0.11% | 2.62% |
Correlation
The correlation between VBLLX and SWAGX is 0.90, 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. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2017 | 0.90 |
The correlation between VBLLX and SWAGX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
VBLLX vs. SWAGX — Risk / Return Rank
VBLLX
SWAGX
VBLLX vs. SWAGX - 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 Schwab U.S. Aggregate Bond Index Fund (SWAGX). 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.
| VBLLX | SWAGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.10 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.77 | -0.78 |
| Martin ratioReturn relative to average drawdown | -0.04 | 1.89 | -1.93 |
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Drawdowns
VBLLX vs. SWAGX - Drawdown Comparison
The maximum VBLLX drawdown since its inception was -38.42%, which is greater than SWAGX's maximum drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for VBLLX and SWAGX.
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Drawdown Indicators
| VBLLX | SWAGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.42% | -19.68% | -18.74% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -3.05% | -3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -11.55% | -5.01% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -36.29% | -18.59% | -17.70% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | — | — |
Current DrawdownCurrent decline from peak | -27.42% | -4.67% | -22.75% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -5.65% | -3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 1.24% | +1.47% |
Volatility
VBLLX vs. SWAGX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) has a higher volatility of 2.07% compared to Schwab U.S. Aggregate Bond Index Fund (SWAGX) at 1.00%. This indicates that VBLLX's price experiences larger fluctuations and is considered to be riskier than SWAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLLX | SWAGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 1.00% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 6.06% | 3.05% | +3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.89% | 3.89% | +4.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 6.09% | +6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 5.09% | +6.46% |
VBLLX vs. SWAGX - Expense Ratio Comparison
VBLLX has a 0.05% expense ratio, which is higher than SWAGX's 0.04% 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
VBLLX vs. SWAGX - Dividend Comparison
VBLLX's dividend yield for the trailing twelve months is around 4.57%, more than SWAGX's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWAGX Schwab U.S. Aggregate Bond Index Fund | 3.88% | 4.02% | 3.88% | 3.22% | 1.93% | 1.56% | 2.47% | 2.87% | 2.80% | 1.98% | 0.00% | 0.00% |
VBLLX Vanguard Long-Term Bond Index Fund Institutional Shares | 4.57% | 4.66% | 4.64% | 3.75% | 4.16% | 2.89% | 5.84% | 3.62% | 3.82% | 3.69% | 4.19% | 4.98% |
Frequently Asked Questions
With a correlation of 0.90, VBLLX and SWAGX 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.
VBLLX has higher volatility (2.07%) compared to SWAGX (1.00%). In terms of maximum drawdown, VBLLX dropped -38.42% vs SWAGX's -19.68%.
SWAGX currently has the higher Sharpe Ratio (0.61 vs -0.01), 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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