VBMPX vs. VGLT
VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) and VGLT (Vanguard Long-Term Treasury ETF) are both funds - VBMPX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, VBMPX returned 1.30%/yr vs -1.80%/yr for VGLT. Their correlation of 0.89 means they have usually moved in the same direction. VBMPX charges 0.02%/yr vs 0.03%/yr for VGLT.
Performance
VBMPX vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, VBMPX achieves a -0.69% return, which is significantly higher than VGLT's -3.26% return. Over the past 10 years, VBMPX has outperformed VGLT with an annualized return of 1.30%, while VGLT has yielded a comparatively lower -1.80% annualized return.
VBMPX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.69%
- 1Y
- 1.68%
- 3Y*
- 3.70%
- 5Y*
- -0.43%
- 10Y*
- 1.30%
- ALL TIME*
- 2.23%
VGLT
- 1D
- -0.62%
- 1M
- -3.51%
- 6M
- -3.14%
- YTD
- -3.26%
- 1Y
- -1.67%
- 3Y*
- -0.62%
- 5Y*
- -7.07%
- 10Y*
- -1.80%
- ALL TIME*
- 2.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $95.69M | $98.86M | $108.97M |
VBMPX vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | -0.69% | 7.18% | 1.27% | 5.75% | -13.14% | -1.95% | 7.75% | 8.74% | -0.24% | 3.58% |
VGLT Vanguard Long-Term Treasury ETF | -3.26% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between VBMPX and VGLT is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2010 | 0.89 |
The correlation between VBMPX and VGLT has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
VBMPX vs. VGLT — Risk / Return Rank
VBMPX
VGLT
VBMPX vs. VGLT - 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 Vanguard Long-Term Treasury ETF (VGLT). 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.
| VBMPX | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.00 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.05 | +1.05 |
| Martin ratioReturn relative to average drawdown | 2.50 | -0.12 | +2.62 |
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Drawdowns
VBMPX vs. VGLT - Drawdown Comparison
The maximum VBMPX drawdown since its inception was -18.90%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for VBMPX and VGLT.
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Drawdown Indicators
| VBMPX | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -46.18% | +27.28% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -7.03% | +4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -13.38% | +8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -40.98% | +22.86% |
Max Drawdown (10Y)Largest decline over 10 years | -18.90% | -46.18% | +27.28% |
Current DrawdownCurrent decline from peak | -3.33% | -38.64% | +35.31% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -15.26% | +11.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 3.19% | -2.04% |
Volatility
VBMPX vs. VGLT - Volatility Comparison
The current volatility for Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) is 0.96%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.24%. This indicates that VBMPX experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBMPX | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 2.24% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 6.31% | -3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 8.47% | -4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 14.45% | -8.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 13.75% | -8.77% |
VBMPX vs. VGLT - Expense Ratio Comparison
VBMPX has a 0.02% expense ratio, which is lower than VGLT's 0.03% 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
VBMPX vs. VGLT - Dividend Comparison
VBMPX's dividend yield for the trailing twelve months is around 3.73%, less than VGLT's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares | 3.73% | 3.88% | 3.69% | 3.11% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.58% | 2.55% | 2.85% |
VGLT Vanguard Long-Term Treasury ETF | 4.37% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
VBMPX and VGLT have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.24%) compared to VBMPX (0.96%). In terms of maximum drawdown, VBMPX dropped -18.90% vs VGLT's -46.18%.
VBMPX currently has the higher Sharpe Ratio (0.76 vs -0.04), 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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