VBMPX vs. VSMPX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX).

VBMPX is managed by Vanguard. It was launched on Feb 5, 2010. VSMPX is managed by Vanguard. It was launched on Apr 28, 2015.

Performance

VBMPX vs. VSMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). The values are adjusted to include any dividend payments, if applicable.

VBMPX vs. VSMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	-0.49%	7.18%	1.27%	5.75%	-13.14%	-1.95%	7.75%	8.74%	-0.24%	3.58%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	-6.74%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%

Returns By Period

In the year-to-date period, VBMPX achieves a -0.49% return, which is significantly higher than VSMPX's -6.74% return. Over the past 10 years, VBMPX has underperformed VSMPX with an annualized return of 1.60%, while VSMPX has yielded a comparatively higher 13.29% annualized return.

VBMPX

• 1D: 0.52%
• 1M: -2.23%
• YTD: -0.49%
• 6M: 0.50%
• 1Y: 3.78%
• 3Y*: 3.46%
• 5Y*: 0.25%
• 10Y*: 1.60%

VSMPX

• 1D: -0.46%
• 1M: -7.71%
• YTD: -6.74%
• 6M: -4.46%
• 1Y: 14.79%
• 3Y*: 16.72%
• 5Y*: 10.14%
• 10Y*: 13.29%

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

VBMPX vs. VSMPX - Expense Ratio Comparison

VBMPX has a 0.03% expense ratio, which is higher than VSMPX's 0.02% 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%.

VBMPX

Vanguard Total Bond Market Index Fund Institutional Plus Shares

VSMPX

Vanguard Total Stock Market Index Fund Institutional Plus Shares

Return for Risk

VBMPX vs. VSMPX — Risk / Return Rank

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

VBMPX

VBMPX Risk / Return Rank: 56
VBMPX Sharpe Ratio Rank: 55
VBMPX Sortino Ratio Rank: 56
VBMPX Omega Ratio Rank: 40
VBMPX Calmar Ratio Rank: 77
VBMPX Martin Ratio Rank: 53

VSMPX

VSMPX Risk / Return Rank: 46
VSMPX Sharpe Ratio Rank: 41
VSMPX Sortino Ratio Rank: 45
VSMPX Omega Ratio Rank: 49
VSMPX Calmar Ratio Rank: 41
VSMPX Martin Ratio Rank: 53

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.

VBMPX vs. VSMPX - 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 Total Stock Market Index Fund Institutional Plus Shares (VSMPX). 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	VSMPX	Difference
Sharpe ratio Return per unit of total volatility	1.00	0.84	+0.16
Sortino ratio Return per unit of downside risk	1.45	1.30	+0.15
Omega ratio Gain probability vs. loss probability	1.18	1.20	-0.02
Calmar ratio Return relative to maximum drawdown	1.79	1.05	+0.74
Martin ratio Return relative to average drawdown	5.11	5.10	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBMPX vs. VSMPX - Sharpe Ratio Comparison

The current VBMPX Sharpe Ratio is 1.00, which is comparable to the VSMPX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of VBMPX and VSMPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VBMPX	VSMPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.84	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.59	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.73	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.73	-0.21

Correlation

The correlation between VBMPX and VSMPX is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VBMPX vs. VSMPX - Dividend Comparison

VBMPX's dividend yield for the trailing twelve months is around 3.63%, more than VSMPX's 1.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBMPX Vanguard Total Bond Market Index Fund Institutional Plus Shares	3.63%	3.88%	3.69%	3.11%	2.61%	1.81%	2.41%	2.75%	2.58%	2.58%	2.55%	2.85%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.22%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Drawdowns

VBMPX vs. VSMPX - Drawdown Comparison

The maximum VBMPX drawdown since its inception was -18.90%, smaller than the maximum VSMPX drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for VBMPX and VSMPX.

Drawdown Indicators

	VBMPX	VSMPX	Difference
Max Drawdown Largest peak-to-trough decline	-18.90%	-34.97%	+16.07%
Max Drawdown (1Y) Largest decline over 1 year	-2.73%	-12.41%	+9.68%
Max Drawdown (5Y) Largest decline over 5 years	-18.12%	-25.35%	+7.23%
Max Drawdown (10Y) Largest decline over 10 years	-18.90%	-34.97%	+16.07%
Current Drawdown Current decline from peak	-3.13%	-8.92%	+5.79%
Average Drawdown Average peak-to-trough decline	-3.54%	-4.65%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.56%	-1.60%

Volatility

VBMPX vs. VSMPX - Volatility Comparison

The current volatility for Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) is 1.55%, while Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) has a volatility of 4.39%. This indicates that VBMPX experiences smaller price fluctuations and is considered to be less risky than VSMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBMPX	VSMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	4.39%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	9.33%	-6.74%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	18.42%	-14.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	17.32%	-11.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.97%	18.37%	-13.40%