VBMFX vs. BIMIX

Last updated Jun 5, 2026

VBMFX (Vanguard Total Bond Market Index Fund) and BIMIX (Baird Intermediate Bond Fund Class Institutional) are both Intermediate Core Bond funds. Over the past 10 years, VBMFX returned 1.44%/yr vs 2.14%/yr for BIMIX. Their correlation of 0.88 suggests significant overlap in exposure. VBMFX charges 0.15%/yr vs 0.30%/yr for BIMIX.

Performance

VBMFX vs. BIMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Bond Market Index Fund (VBMFX) and Baird Intermediate Bond Fund Class Institutional (BIMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBMFX achieves a 0.17% return, which is significantly higher than BIMIX's -0.15% return. Over the past 10 years, VBMFX has underperformed BIMIX with an annualized return of 1.44%, while BIMIX has yielded a comparatively higher 2.14% annualized return.

VBMFX

• 1D: -0.21%
• 1M: 0.12%
• YTD: 0.17%
• 6M: 0.29%
• 1Y: 4.35%
• 3Y*: 3.86%
• 5Y*: -0.01%
• 10Y*: 1.44%

BIMIX

• 1D: -0.10%
• 1M: -0.03%
• YTD: -0.15%
• 6M: 0.05%
• 1Y: 3.55%
• 3Y*: 4.51%
• 5Y*: 1.16%
• 10Y*: 2.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBMFX vs. BIMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBMFX Vanguard Total Bond Market Index Fund	0.17%	7.05%	1.15%	5.62%	-13.25%	-2.04%	7.63%	8.61%	-0.34%	3.45%
BIMIX Baird Intermediate Bond Fund Class Institutional	-0.15%	6.69%	3.45%	5.78%	-8.64%	-1.41%	7.42%	7.05%	0.58%	2.74%

Correlation

The correlation between VBMFX and BIMIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 2, 2000	0.88

The correlation between VBMFX and BIMIX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

VBMFX vs. BIMIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBMFX

VBMFX Risk / Return Rank: 20
VBMFX Sharpe Ratio Rank: 20
VBMFX Sortino Ratio Rank: 21
VBMFX Omega Ratio Rank: 18
VBMFX Calmar Ratio Rank: 22
VBMFX Martin Ratio Rank: 20

BIMIX

BIMIX Risk / Return Rank: 28
BIMIX Sharpe Ratio Rank: 29
BIMIX Sortino Ratio Rank: 31
BIMIX Omega Ratio Rank: 31
BIMIX Calmar Ratio Rank: 26
BIMIX Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VBMFX vs. BIMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund (VBMFX) and Baird Intermediate Bond Fund Class Institutional (BIMIX). 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.

	VBMFX	BIMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.55	-0.28
Sortino ratio: Return per unit of downside risk	1.91	2.31	-0.39
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.07
Calmar ratio: Return relative to maximum drawdown	1.73	1.87	-0.14
Martin ratio: Return relative to average drawdown	5.18	5.39	-0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBMFX vs. BIMIX - Sharpe Ratio Comparison

The current VBMFX Sharpe Ratio is 1.27, which is comparable to the BIMIX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of VBMFX and BIMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBMFX	BIMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.55	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	0.30	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.66	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.17	-0.21

Drawdowns

VBMFX vs. BIMIX - Drawdown Comparison

The maximum VBMFX drawdown since its inception was -19.08%, which is greater than BIMIX's maximum drawdown of -12.76%. Use the drawdown chart below to compare losses from any high point for VBMFX and BIMIX.

Drawdown Indicators

	VBMFX	BIMIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.08%	-12.76%	-6.32%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-2.07%	-0.84%
Max Drawdown (3Y) Largest decline over 3 years	-6.02%	-2.44%	-3.58%
Max Drawdown (5Y) Largest decline over 5 years	-18.24%	-12.76%	-5.48%
Max Drawdown (10Y) Largest decline over 10 years	-19.08%	-12.76%	-6.32%
Current Drawdown Current decline from peak	-3.11%	-1.42%	-1.69%
Average Drawdown Average peak-to-trough decline	-2.70%	-1.48%	-1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.71%	+0.26%

Volatility

VBMFX vs. BIMIX - Volatility Comparison

Vanguard Total Bond Market Index Fund (VBMFX) has a higher volatility of 1.32% compared to Baird Intermediate Bond Fund Class Institutional (BIMIX) at 0.74%. This indicates that VBMFX's price experiences larger fluctuations and is considered to be riskier than BIMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBMFX	BIMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	0.74%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	1.71%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.95%	2.49%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	3.88%	+2.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	3.25%	+1.73%

VBMFX vs. BIMIX - Expense Ratio Comparison

VBMFX has a 0.15% expense ratio, which is lower than BIMIX's 0.30% expense ratio.

Dividends

VBMFX vs. BIMIX - Dividend Comparison

VBMFX's dividend yield for the trailing twelve months is around 3.88%, more than BIMIX's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIMIX Baird Intermediate Bond Fund Class Institutional	3.72%	3.67%	3.89%	3.21%	2.17%	2.27%	3.49%	2.52%	2.50%	2.35%	2.21%	2.57%
VBMFX Vanguard Total Bond Market Index Fund	3.88%	3.76%	3.57%	2.99%	2.49%	1.72%	2.31%	2.63%	2.47%	2.45%	2.43%	2.71%

Frequently Asked Questions

Can I hold both VBMFX and BIMIX in my portfolio?

VBMFX and BIMIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBMFX or BIMIX?

VBMFX has higher volatility (1.32%) compared to BIMIX (0.74%). In terms of maximum drawdown, VBMFX dropped -19.08% vs BIMIX's -12.76%.

Which has better risk-adjusted returns?

BIMIX currently has the higher Sharpe Ratio (1.55 vs 1.27), 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.