VBTLX vs. SWAGX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and SWAGX (Schwab U.S. Aggregate Bond Index Fund) are both Total Bond Market funds - VBTLX tracks the Bloomberg U.S. Aggregate Float Adjusted Index while SWAGX tracks the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 5 years, VBTLX returned 0.02%/yr vs -0.17%/yr for SWAGX. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.
Performance
VBTLX vs. SWAGX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a 0.11% return, which is significantly higher than SWAGX's 0.05% return.
VBTLX
- 1D
- -0.31%
- 1M
- 0.66%
- YTD
- 0.11%
- 6M
- 0.45%
- 1Y
- 4.14%
- 3Y*
- 3.94%
- 5Y*
- 0.02%
- 10Y*
- 1.50%
SWAGX
- 1D
- -0.34%
- 1M
- 0.47%
- YTD
- 0.05%
- 6M
- 0.40%
- 1Y
- 4.19%
- 3Y*
- 3.85%
- 5Y*
- -0.17%
- 10Y*
- —
VBTLX vs. SWAGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.11% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.05% |
SWAGX Schwab U.S. Aggregate Bond Index Fund | 0.05% | 7.11% | 1.38% | 5.46% | -13.62% | -2.29% | 7.39% | 8.64% | -0.11% | 2.62% |
Correlation
The correlation between VBTLX and SWAGX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2017 | 0.95 |
The correlation between VBTLX and SWAGX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
VBTLX vs. SWAGX — Risk / Return Rank
VBTLX
SWAGX
VBTLX vs. SWAGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VBTLX | SWAGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.42 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.28 | 4.02 | +0.26 |
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Drawdowns
VBTLX vs. SWAGX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, roughly equal to the maximum SWAGX drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for VBTLX and SWAGX.
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Drawdown Indicators
| VBTLX | SWAGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -19.68% | +0.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -3.05% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -6.14% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.76% | +0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -2.48% | -3.71% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -5.67% | +3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.07% | -0.05% |
Volatility
VBTLX vs. SWAGX - Volatility Comparison
Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a higher volatility of 1.17% compared to Schwab U.S. Aggregate Bond Index Fund (SWAGX) at 1.09%. This indicates that VBTLX's price experiences larger fluctuations and is considered to be riskier than SWAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | SWAGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.09% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 2.96% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 3.98% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 6.09% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 5.11% | -0.12% |
VBTLX vs. SWAGX - Expense Ratio Comparison
Both VBTLX and SWAGX have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VBTLX vs. SWAGX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.99%, less than SWAGX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWAGX Schwab U.S. Aggregate Bond Index Fund | 4.15% | 4.02% | 3.88% | 3.22% | 1.93% | 1.56% | 2.47% | 2.87% | 2.80% | 1.98% | 0.00% | 0.00% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.99% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
Frequently Asked Questions
With a correlation of 0.96, VBTLX and SWAGX 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.
VBTLX has higher volatility (1.17%) compared to SWAGX (1.09%). In terms of maximum drawdown, VBTLX dropped -18.81% vs SWAGX's -19.68%.
VBTLX currently has the higher Sharpe Ratio (1.12 vs 1.09), 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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