VBMPX vs. AGG
VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) and AGG (iShares Core U.S. Aggregate Bond ETF) are both Total Bond Market funds. Over the past 10 years, VBMPX returned 1.58%/yr vs 1.57%/yr for AGG. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
VBMPX vs. AGG - Performance Comparison
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Returns By Period
In the year-to-date period, VBMPX achieves a 0.43% return, which is significantly higher than AGG's 0.25% return. Both investments have delivered pretty close results over the past 10 years, with VBMPX having a 1.58% annualized return and AGG not far behind at 1.57%.
VBMPX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.43%
- 6M
- 0.36%
- 1Y
- 5.36%
- 3Y*
- 4.06%
- 5Y*
- 0.23%
- 10Y*
- 1.58%
AGG
- 1D
- -0.21%
- 1M
- 0.24%
- YTD
- 0.25%
- 6M
- 0.09%
- 1Y
- 5.14%
- 3Y*
- 3.95%
- 5Y*
- 0.10%
- 10Y*
- 1.57%
VBMPX vs. AGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 0.43% | 7.18% | 1.27% | 5.75% | -13.14% | -1.95% | 7.75% | 8.74% | -0.24% | 3.58% |
AGG iShares Core U.S. Aggregate Bond ETF | 0.25% | 7.19% | 1.31% | 5.65% | -13.02% | -1.77% | 7.48% | 8.46% | 0.09% | 3.55% |
Correlation
The correlation between VBMPX and AGG is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2010 | 0.91 |
The correlation between VBMPX and AGG has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
VBMPX vs. AGG — Risk / Return Rank
VBMPX
AGG
VBMPX vs. AGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) and iShares Core U.S. Aggregate Bond ETF (AGG). 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.
| VBMPX | AGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.87 | 0.00 |
| Martin ratioReturn relative to average drawdown | 5.61 | 5.73 | -0.12 |
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
| VBMPX | AGG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.34 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.02 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.29 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.59 | -0.07 |
Drawdowns
VBMPX vs. AGG - Drawdown Comparison
The maximum VBMPX drawdown since its inception was -18.90%, roughly equal to the maximum AGG drawdown of -18.43%. Use the drawdown chart below to compare losses from any high point for VBMPX and AGG.
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Drawdown Indicators
| VBMPX | AGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -18.43% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.76% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -6.11% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -17.82% | -0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -18.90% | -18.43% | -0.47% |
Current DrawdownCurrent decline from peak | -2.23% | -2.14% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -2.71% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.90% | +0.06% |
Volatility
VBMPX vs. AGG - Volatility Comparison
Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) has a higher volatility of 1.38% compared to iShares Core U.S. Aggregate Bond ETF (AGG) at 1.30%. This indicates that VBMPX's price experiences larger fluctuations and is considered to be riskier than AGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBMPX | AGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.30% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 2.74% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.85% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 6.09% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 5.40% | -0.42% |
VBMPX vs. AGG - Expense Ratio Comparison
Both VBMPX and AGG have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VBMPX vs. AGG - Dividend Comparison
VBMPX's dividend yield for the trailing twelve months is around 4.00%, which matches AGG's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 3.99% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 4.00% | 3.88% | 3.69% | 3.11% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.58% | 2.55% | 2.85% |
Frequently Asked Questions
With a correlation of 0.92, VBMPX and AGG 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.
VBMPX has higher volatility (1.38%) compared to AGG (1.30%). In terms of maximum drawdown, VBMPX dropped -18.90% vs AGG's -18.43%.
VBMPX currently has the higher Sharpe Ratio (1.36 vs 1.34), 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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