VBMFX vs. VBTLX
VBMFX (Vanguard Total Bond Market Index Fund Investor Shares) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VBMFX is a Intermediate Core Bond fund tracking the Bloomberg U.S. Aggregate Float Adjusted Bond Index, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, VBMFX returned 1.18%/yr vs 1.30%/yr for VBTLX. Their 1.00 correlation means they have historically moved very closely together. VBMFX charges 0.15%/yr vs 0.04%/yr for VBTLX.
Performance
VBMFX vs. VBTLX - Performance Comparison
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Returns By Period
In the year-to-date period, VBMFX achieves a -0.76% return, which is significantly lower than VBTLX's -0.70% return. Over the past 10 years, VBMFX has underperformed VBTLX with an annualized return of 1.18%, while VBTLX has yielded a comparatively higher 1.30% annualized return.
VBMFX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.98%
- YTD
- -0.76%
- 1Y
- 1.56%
- 3Y*
- 3.58%
- 5Y*
- -0.55%
- 10Y*
- 1.18%
- ALL TIME*
- 4.28%
VBTLX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.70%
- 1Y
- 1.67%
- 3Y*
- 3.69%
- 5Y*
- -0.45%
- 10Y*
- 1.30%
- ALL TIME*
- 3.34%
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 |
VBMFX vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund Investor Shares | -0.76% | 7.05% | 1.15% | 5.62% | -13.25% | -2.04% | 7.63% | 8.61% | -0.34% | 3.45% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.70% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VBMFX and VBTLX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 1.00 |
The correlation between VBMFX and VBTLX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VBMFX vs. VBTLX — Risk / Return Rank
VBMFX
VBTLX
VBMFX vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.
| VBMFX | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 0.99 | -0.05 |
| Martin ratioReturn relative to average drawdown | 2.35 | 2.48 | -0.13 |
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Drawdowns
VBMFX vs. VBTLX - Drawdown Comparison
The maximum VBMFX drawdown since its inception was -19.08%, roughly equal to the maximum VBTLX drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VBMFX and VBTLX.
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Drawdown Indicators
| VBMFX | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.08% | -18.81% | -0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.89% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.88% | -4.86% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -18.24% | -18.14% | -0.10% |
Max Drawdown (10Y)Largest decline over 10 years | -19.08% | -18.81% | -0.27% |
Current DrawdownCurrent decline from peak | -4.00% | -3.27% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -2.67% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.15% | +0.02% |
Volatility
VBMFX vs. VBTLX - Volatility Comparison
Vanguard Total Bond Market Index Fund Investor Shares (VBMFX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) have volatilities of 0.96% and 0.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBMFX | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.96% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.97% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.82% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 6.01% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.97% | 4.98% | -0.01% |
VBMFX vs. VBTLX - Expense Ratio Comparison
VBMFX has a 0.15% expense ratio, which is higher than VBTLX'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
VBMFX vs. VBTLX - Dividend Comparison
VBMFX's dividend yield for the trailing twelve months is around 3.61%, less than VBTLX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund Investor Shares | 3.61% | 3.76% | 3.57% | 2.99% | 2.49% | 1.72% | 2.31% | 2.63% | 2.47% | 2.45% | 2.43% | 2.71% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.72% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
With a correlation of 1.00, VBMFX and VBTLX 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.
VBTLX has higher volatility (0.96%) compared to VBMFX (0.96%). In terms of maximum drawdown, VBMFX dropped -19.08% vs VBTLX's -18.81%.
VBTLX currently has the higher Sharpe Ratio (0.75 vs 0.72), 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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