VBTIX vs. SCPZX

Last updated Jun 5, 2026

VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) and SCPZX (Carillon Reams Core Plus Bond Fund) are both mutual funds - VBTIX is a Total Bond Market fund managed by Vanguard, while SCPZX is a Intermediate Core-Plus Bond fund managed by Carillon Family of Funds. Over the past 10 years, VBTIX returned 1.56%/yr vs 2.85%/yr for SCPZX. Their correlation of 0.82 suggests significant overlap in exposure. VBTIX charges 0.04%/yr vs 0.40%/yr for SCPZX.

Performance

VBTIX vs. SCPZX - Performance Comparison

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

Returns By Period

In the year-to-date period, VBTIX achieves a 0.22% return, which is significantly lower than SCPZX's 0.61% return. Over the past 10 years, VBTIX has underperformed SCPZX with an annualized return of 1.56%, while SCPZX has yielded a comparatively higher 2.85% 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%

SCPZX

• 1D: -0.23%
• 1M: -0.02%
• YTD: 0.61%
• 6M: 0.51%
• 1Y: 5.49%
• 3Y*: 4.44%
• 5Y*: 0.82%
• 10Y*: 2.85%

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

VBTIX vs. SCPZX - 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%
SCPZX Carillon Reams Core Plus Bond Fund	0.61%	8.68%	1.34%	6.27%	-11.79%	-1.96%	16.56%	8.30%	0.76%	3.51%

Correlation

The correlation between VBTIX and SCPZX 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	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.82

The correlation between VBTIX and SCPZX shifts across timeframes, from 0.82 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VBTIX vs. SCPZX — Risk / Return Rank

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

VBTIX

VBTIX Risk / Return Rank: 21
VBTIX Sharpe Ratio Rank: 21
VBTIX Sortino Ratio Rank: 22
VBTIX Omega Ratio Rank: 19
VBTIX Calmar Ratio Rank: 23
VBTIX Martin Ratio Rank: 20

SCPZX

SCPZX Risk / Return Rank: 30
SCPZX Sharpe Ratio Rank: 28
SCPZX Sortino Ratio Rank: 30
SCPZX Omega Ratio Rank: 27
SCPZX Calmar Ratio Rank: 34
SCPZX Martin Ratio Rank: 31

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.

VBTIX vs. SCPZX - 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 Carillon Reams Core Plus Bond Fund (SCPZX). 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	SCPZX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.52	-0.21
Sortino ratio: Return per unit of downside risk	1.96	2.25	-0.28
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.04
Calmar ratio: Return relative to maximum drawdown	1.79	2.14	-0.36
Martin ratio: Return relative to average drawdown	5.35	7.12	-1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBTIX vs. SCPZX - Sharpe Ratio Comparison

The current VBTIX Sharpe Ratio is 1.30, which is comparable to the SCPZX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of VBTIX and SCPZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VBTIX	SCPZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.52	-0.21
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	0.51	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	0.34	+0.60

Drawdowns

VBTIX vs. SCPZX - Drawdown Comparison

The maximum VBTIX drawdown since its inception was -18.90%, smaller than the maximum SCPZX drawdown of -28.85%. Use the drawdown chart below to compare losses from any high point for VBTIX and SCPZX.

Drawdown Indicators

	VBTIX	SCPZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.90%	-28.85%	+9.95%
Max Drawdown (1Y) Largest decline over 1 year	-2.89%	-2.91%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-5.99%	-7.72%	+1.73%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-17.39%	-0.74%
Max Drawdown (10Y) Largest decline over 10 years	-18.90%	-18.38%	-0.52%
Current Drawdown Current decline from peak	-2.45%	-1.51%	-0.94%
Average Drawdown Average peak-to-trough decline	-2.32%	-3.75%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.87%	+0.09%

Volatility

VBTIX vs. SCPZX - Volatility Comparison

The current volatility for Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) is 1.33%, while Carillon Reams Core Plus Bond Fund (SCPZX) has a volatility of 1.53%. This indicates that VBTIX experiences smaller price fluctuations and is considered to be less risky than SCPZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBTIX	SCPZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.53%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	3.01%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	4.10%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.02%	6.56%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	5.60%	-0.62%

VBTIX vs. SCPZX - Expense Ratio Comparison

VBTIX has a 0.04% expense ratio, which is lower than SCPZX's 0.40% expense ratio.

Dividends

VBTIX vs. SCPZX - Dividend Comparison

VBTIX's dividend yield for the trailing twelve months is around 4.00%, less than SCPZX's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCPZX Carillon Reams Core Plus Bond Fund	4.25%	4.35%	4.70%	4.31%	3.06%	1.27%	5.79%	4.47%	2.26%	1.76%	3.92%	2.89%
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

Can I hold both VBTIX and SCPZX in my portfolio?

With a correlation of 0.92, VBTIX and SCPZX 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.

Which is riskier, VBTIX or SCPZX?

SCPZX has higher volatility (1.53%) compared to VBTIX (1.33%). In terms of maximum drawdown, VBTIX dropped -18.90% vs SCPZX's -28.85%.

Which has better risk-adjusted returns?

SCPZX currently has the higher Sharpe Ratio (1.52 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.