VBTIX vs. BCOIX
VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) and BCOIX (Baird Core Plus Bond Fund) are both mutual funds - VBTIX is a Total Bond Market fund managed by Vanguard, while BCOIX is a Intermediate Core-Plus Bond fund managed by Baird. Over the past 10 years, VBTIX returned 1.56%/yr vs 2.41%/yr for BCOIX. Their correlation of 0.90 suggests significant overlap in exposure. VBTIX charges 0.04%/yr vs 0.30%/yr for BCOIX.
Performance
VBTIX vs. BCOIX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTIX achieves a 0.22% return, which is significantly lower than BCOIX's 0.25% return. Over the past 10 years, VBTIX has underperformed BCOIX with an annualized return of 1.56%, while BCOIX has yielded a comparatively higher 2.41% annualized return.
VBTIX
- 1D
- -0.21%
- 1M
- 0.14%
- YTD
- 0.22%
- 6M
- 0.35%
- 1Y
- 4.48%
- 3Y*
- 3.99%
- 5Y*
- 0.11%
- 10Y*
- 1.56%
BCOIX
- 1D
- -0.20%
- 1M
- 0.18%
- YTD
- 0.25%
- 6M
- 0.47%
- 1Y
- 4.82%
- 3Y*
- 4.83%
- 5Y*
- 0.72%
- 10Y*
- 2.41%
VBTIX vs. BCOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 0.22% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
BCOIX Baird Core Plus Bond Fund | 0.25% | 7.47% | 2.54% | 6.89% | -12.86% | -1.02% | 8.80% | 10.11% | -0.52% | 4.65% |
Correlation
The correlation between VBTIX and BCOIX 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 | 0.94 |
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 Oct 2, 2000 | 0.90 |
The correlation between VBTIX and BCOIX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
VBTIX vs. BCOIX — Risk / Return Rank
VBTIX
BCOIX
VBTIX vs. BCOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) and Baird Core Plus Bond Fund (BCOIX). 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.
| VBTIX | BCOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.12 | -0.33 |
| Martin ratioReturn relative to average drawdown | 5.35 | 6.25 | -0.91 |
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
| VBTIX | BCOIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.47 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.13 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.52 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 1.07 | -0.13 |
Drawdowns
VBTIX vs. BCOIX - Drawdown Comparison
The maximum VBTIX drawdown since its inception was -18.90%, roughly equal to the maximum BCOIX drawdown of -18.13%. Use the drawdown chart below to compare losses from any high point for VBTIX and BCOIX.
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Drawdown Indicators
| VBTIX | BCOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -18.13% | -0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.58% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -5.99% | -5.61% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -18.13% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -18.90% | -18.13% | -0.77% |
Current DrawdownCurrent decline from peak | -2.45% | -1.44% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -2.19% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.87% | +0.09% |
Volatility
VBTIX vs. BCOIX - Volatility Comparison
Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) and Baird Core Plus Bond Fund (BCOIX) have volatilities of 1.33% and 1.30%, 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
| VBTIX | BCOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.30% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.67% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.96% | 3.71% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 5.64% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 4.67% | +0.31% |
VBTIX vs. BCOIX - Expense Ratio Comparison
VBTIX has a 0.04% expense ratio, which is lower than BCOIX's 0.30% expense ratio.
Dividends
VBTIX vs. BCOIX - Dividend Comparison
VBTIX's dividend yield for the trailing twelve months is around 4.00%, less than BCOIX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCOIX Baird Core Plus Bond Fund | 4.36% | 4.21% | 4.13% | 3.58% | 3.10% | 2.96% | 3.51% | 2.96% | 3.13% | 2.83% | 3.01% | 2.84% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 4.00% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
Frequently Asked Questions
With a correlation of 0.92, VBTIX and BCOIX 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.
VBTIX has higher volatility (1.33%) compared to BCOIX (1.30%). In terms of maximum drawdown, VBTIX dropped -18.90% vs BCOIX's -18.13%.
BCOIX currently has the higher Sharpe Ratio (1.47 vs 1.30), 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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