VBLLX vs. VFIIX
VBLLX (Vanguard Long-Term Bond Index Fund Institutional Shares) and VFIIX (Vanguard GNMA Fund Investor Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBLLX returned 0.08%/yr vs 1.15%/yr for VFIIX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. VBLLX charges 0.05%/yr vs 0.21%/yr for VFIIX.
Performance
VBLLX vs. VFIIX - 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 VFIIX's -0.19% return. Over the past 10 years, VBLLX has underperformed VFIIX with an annualized return of 0.08%, while VFIIX has yielded a comparatively higher 1.15% annualized 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%
VFIIX
- 1D
- -0.32%
- 1M
- -1.17%
- 6M
- -0.50%
- YTD
- -0.19%
- 1Y
- 2.87%
- 3Y*
- 4.21%
- 5Y*
- 0.23%
- 10Y*
- 1.15%
- ALL TIME*
- 3.73%
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. VFIIX - 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% | 10.89% |
VFIIX Vanguard GNMA Fund Investor Shares | -0.19% | 7.73% | 1.07% | 5.17% | -10.81% | -1.24% | 3.73% | 5.84% | 0.89% | 1.88% |
Correlation
The correlation between VBLLX and VFIIX is 0.85, 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. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2006 | 0.74 |
The correlation between VBLLX and VFIIX shifts across timeframes, from 0.74 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBLLX vs. VFIIX — Risk / Return Rank
VBLLX
VFIIX
VBLLX vs. VFIIX - 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 GNMA Fund Investor Shares (VFIIX). 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 | VFIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.17 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.33 | -1.35 |
| Martin ratioReturn relative to average drawdown | -0.04 | 3.64 | -3.67 |
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Drawdowns
VBLLX vs. VFIIX - Drawdown Comparison
The maximum VBLLX drawdown since its inception was -38.42%, which is greater than VFIIX's maximum drawdown of -25.80%. Use the drawdown chart below to compare losses from any high point for VBLLX and VFIIX.
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Drawdown Indicators
| VBLLX | VFIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.42% | -25.80% | -12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -2.83% | -3.52% |
Max Drawdown (3Y)Largest decline over 3 years | -11.55% | -6.02% | -5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -36.29% | -15.76% | -20.53% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | -16.20% | -22.22% |
Current DrawdownCurrent decline from peak | -27.42% | -2.34% | -25.08% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -2.97% | -6.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 1.04% | +1.67% |
Volatility
VBLLX vs. VFIIX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Institutional Shares (VBLLX) has a higher volatility of 2.07% compared to Vanguard GNMA Fund Investor Shares (VFIIX) at 1.07%. This indicates that VBLLX's price experiences larger fluctuations and is considered to be riskier than VFIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLLX | VFIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.07% | 1.07% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.06% | 3.15% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.89% | 3.95% | +3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 6.24% | +6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 4.72% | +6.83% |
VBLLX vs. VFIIX - Expense Ratio Comparison
VBLLX has a 0.05% expense ratio, which is lower than VFIIX's 0.21% 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
VBLLX vs. VFIIX - Dividend Comparison
VBLLX's dividend yield for the trailing twelve months is around 4.57%, more than VFIIX's 3.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VFIIX Vanguard GNMA Fund Investor Shares | 3.43% | 3.62% | 3.58% | 3.23% | 2.34% | 0.63% | 1.87% | 2.76% | 2.90% | 2.64% | 3.01% | 2.84% |
Frequently Asked Questions
VBLLX and VFIIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBLLX has higher volatility (2.07%) compared to VFIIX (1.07%). In terms of maximum drawdown, VBLLX dropped -38.42% vs VFIIX's -25.80%.
VFIIX currently has the higher Sharpe Ratio (0.96 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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