VBTIX vs. VTSPX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX).

VBTIX is managed by Vanguard. It was launched on Sep 18, 1995. VTSPX is managed by Vanguard. It was launched on Oct 17, 2012.

Performance

VBTIX vs. VTSPX - 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 Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX). The values are adjusted to include any dividend payments, if applicable.

VBTIX vs. VTSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	-0.49%	7.18%	1.27%	5.75%	-13.15%	-1.95%	7.75%	8.74%	-0.24%	3.56%
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares	0.97%	6.06%	4.75%	4.61%	-2.82%	5.32%	4.99%	4.82%	0.59%	0.83%

Returns By Period

In the year-to-date period, VBTIX achieves a -0.49% return, which is significantly lower than VTSPX's 0.97% return. Over the past 10 years, VBTIX has underperformed VTSPX with an annualized return of 1.59%, while VTSPX has yielded a comparatively higher 3.08% annualized return.

VBTIX

• 1D: 0.52%
• 1M: -2.23%
• YTD: -0.49%
• 6M: 0.50%
• 1Y: 3.78%
• 3Y*: 3.45%
• 5Y*: 0.25%
• 10Y*: 1.59%

VTSPX

• 1D: 0.28%
• 1M: 0.04%
• YTD: 0.97%
• 6M: 1.36%
• 1Y: 3.93%
• 3Y*: 4.69%
• 5Y*: 3.51%
• 10Y*: 3.08%

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

VBTIX vs. VTSPX - Expense Ratio Comparison

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

VTSPX

Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares

VBTIX

Vanguard Total Bond Market Index Fund Institutional Shares

Return for Risk

VBTIX vs. VTSPX — Risk / Return Rank

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

VBTIX

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

VTSPX

VTSPX Risk / Return Rank: 96
VTSPX Sharpe Ratio Rank: 95
VTSPX Sortino Ratio Rank: 96
VTSPX Omega Ratio Rank: 95
VTSPX Calmar Ratio Rank: 98
VTSPX Martin Ratio Rank: 96

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. VTSPX - 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 Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX). 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	VTSPX	Difference
Sharpe ratio Return per unit of total volatility	1.00	2.31	-1.31
Sortino ratio Return per unit of downside risk	1.45	3.51	-2.06
Omega ratio Gain probability vs. loss probability	1.18	1.51	-0.33
Calmar ratio Return relative to maximum drawdown	1.79	4.69	-2.90
Martin ratio Return relative to average drawdown	5.10	14.73	-9.63
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. VTSPX - Sharpe Ratio Comparison

The current VBTIX Sharpe Ratio is 1.00, which is lower than the VTSPX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of VBTIX and VTSPX, 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

	VBTIX	VTSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	2.31	-1.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	1.32	-1.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	1.39	-1.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	1.05	-0.11

Correlation

The correlation between VBTIX and VTSPX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VBTIX vs. VTSPX - Dividend Comparison

VBTIX's dividend yield for the trailing twelve months is around 3.63%, more than VTSPX's 3.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares	3.63%	3.88%	3.69%	3.12%	2.61%	1.81%	2.41%	2.75%	2.58%	2.56%	2.54%	2.84%
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares	3.58%	3.81%	2.70%	2.86%	6.84%	4.69%	1.21%	1.96%	2.47%	1.52%	0.80%	0.00%

Drawdowns

VBTIX vs. VTSPX - Drawdown Comparison

The maximum VBTIX drawdown since its inception was -18.90%, which is greater than VTSPX's maximum drawdown of -5.35%. Use the drawdown chart below to compare losses from any high point for VBTIX and VTSPX.

Drawdown Indicators

	VBTIX	VTSPX	Difference
Max Drawdown Largest peak-to-trough decline	-18.90%	-5.35%	-13.55%
Max Drawdown (1Y) Largest decline over 1 year	-2.73%	-0.92%	-1.81%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-5.35%	-12.78%
Max Drawdown (10Y) Largest decline over 10 years	-18.90%	-5.35%	-13.55%
Current Drawdown Current decline from peak	-3.14%	-0.28%	-2.86%
Average Drawdown Average peak-to-trough decline	-2.32%	-1.02%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.29%	+0.67%

Volatility

VBTIX vs. VTSPX - Volatility Comparison

Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a higher volatility of 1.55% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) at 0.60%. This indicates that VBTIX's price experiences larger fluctuations and is considered to be riskier than VTSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBTIX	VTSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	0.60%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	0.96%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	1.78%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.99%	2.67%	+3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.97%	2.23%	+2.74%