VBMPX vs. VUSFX
VBMPX (Vanguard Total Bond Market Index Fund Institutional Plus Shares) and VUSFX (Vanguard Ultra-Short-Term Bond Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 10 years, VBMPX returned 1.58%/yr vs 2.71%/yr for VUSFX. At a 0.48 correlation, their price movements are largely independent. VBMPX charges 0.03%/yr vs 0.10%/yr for VUSFX.
Performance
VBMPX vs. VUSFX - Performance Comparison
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Returns By Period
In the year-to-date period, VBMPX achieves a 0.43% return, which is significantly lower than VUSFX's 1.42% return. Over the past 10 years, VBMPX has underperformed VUSFX with an annualized return of 1.58%, while VUSFX has yielded a comparatively higher 2.71% annualized return.
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%
VUSFX
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.42%
- 6M
- 1.76%
- 1Y
- 4.51%
- 3Y*
- 5.44%
- 5Y*
- 3.50%
- 10Y*
- 2.71%
VBMPX vs. VUSFX - 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% |
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares | 1.42% | 5.11% | 6.11% | 5.53% | -0.38% | 0.08% | 2.10% | 3.39% | 2.10% | 1.37% |
Correlation
The correlation between VBMPX and VUSFX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.48 |
The correlation between VBMPX and VUSFX shifts across timeframes, from 0.48 (all time) to 0.61 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBMPX vs. VUSFX — Risk / Return Rank
VBMPX
VUSFX
VBMPX vs. VUSFX - 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 Ultra-Short-Term Bond Fund Admiral Shares (VUSFX). 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 | VUSFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.33 | ||
| Sortino ratioReturn per unit of downside risk | -13.34 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 4.69 | -3.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 18.20 | -16.34 |
| Martin ratioReturn relative to average drawdown | 5.61 | 108.57 | -102.96 |
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 | VUSFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 7.69 | -6.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 4.35 | -4.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 4.00 | -3.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 4.00 | -3.48 |
Drawdowns
VBMPX vs. VUSFX - Drawdown Comparison
The maximum VBMPX drawdown since its inception was -18.90%, which is greater than VUSFX's maximum drawdown of -1.71%. Use the drawdown chart below to compare losses from any high point for VBMPX and VUSFX.
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Drawdown Indicators
| VBMPX | VUSFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -1.71% | -17.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -0.25% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -0.35% | -5.64% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -1.71% | -16.41% |
Max Drawdown (10Y)Largest decline over 10 years | -18.90% | -1.71% | -17.19% |
Current DrawdownCurrent decline from peak | -2.23% | 0.00% | -2.23% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -0.15% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.04% | +0.92% |
Volatility
VBMPX vs. VUSFX - Volatility Comparison
Vanguard Total Bond Market Index Fund Institutional Plus Shares (VBMPX) has a higher volatility of 1.38% compared to Vanguard Ultra-Short-Term Bond Fund Admiral Shares (VUSFX) at 0.13%. This indicates that VBMPX's price experiences larger fluctuations and is considered to be riskier than VUSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBMPX | VUSFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.13% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 0.41% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 0.59% | +3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 0.81% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 0.68% | +4.30% |
VBMPX vs. VUSFX - Expense Ratio Comparison
VBMPX has a 0.03% expense ratio, which is lower than VUSFX's 0.10% 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. VUSFX - Dividend Comparison
VBMPX's dividend yield for the trailing twelve months is around 4.00%, less than VUSFX's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VUSFX Vanguard Ultra-Short-Term Bond Fund Admiral Shares | 4.53% | 4.73% | 5.52% | 4.15% | 1.38% | 0.53% | 1.62% | 2.68% | 2.23% | 1.52% | 1.07% | 0.00% |
Frequently Asked Questions
VBMPX and VUSFX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBMPX has higher volatility (1.38%) compared to VUSFX (0.13%). In terms of maximum drawdown, VBMPX dropped -18.90% vs VUSFX's -1.71%.
VUSFX currently has the higher Sharpe Ratio (7.69 vs 1.36), 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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