VBTLX vs. VBLAX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) are both Total Bond Market funds from Vanguard. Over the past 5 years, VBTLX returned -0.49%/yr vs -5.20%/yr for VBLAX. Their correlation of 0.94 means they have usually moved in the same direction. VBTLX charges 0.04%/yr vs 0.07%/yr for VBLAX.
Performance
VBTLX vs. VBLAX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a -0.91% return, which is significantly higher than VBLAX's -3.42% return.
VBTLX
- 1D
- -0.21%
- 1M
- -1.45%
- 6M
- -0.94%
- YTD
- -0.91%
- 1Y
- 1.45%
- 3Y*
- 3.80%
- 5Y*
- -0.49%
- 10Y*
- 1.30%
- ALL TIME*
- 3.33%
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VBTLX vs. VBLAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.91% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 7.84% |
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
Correlation
The correlation between VBTLX and VBLAX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.94 |
The correlation between VBTLX and VBLAX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
VBTLX vs. VBLAX — Risk / Return Rank
VBTLX
VBLAX
VBTLX vs. VBLAX - 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 Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX). 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 | VBLAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.00 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.02 | +0.82 |
| Martin ratioReturn relative to average drawdown | 1.97 | -0.05 | +2.02 |
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Drawdowns
VBTLX vs. VBLAX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, smaller than the maximum VBLAX drawdown of -38.62%. Use the drawdown chart below to compare losses from any high point for VBTLX and VBLAX.
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Drawdown Indicators
| VBTLX | VBLAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -38.62% | +19.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -6.45% | +3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.86% | -11.56% | +6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -17.98% | -36.32% | +18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | -27.42% | +23.94% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -18.25% | +15.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.75% | -1.58% |
Volatility
VBTLX vs. VBLAX - Volatility Comparison
The current volatility for Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) is 0.96%, while Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a volatility of 2.10%. This indicates that VBTLX experiences smaller price fluctuations and is considered to be less risky than VBLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | VBLAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 2.10% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 6.00% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 7.87% | -4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 12.81% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 12.56% | -7.58% |
VBTLX vs. VBLAX - Expense Ratio Comparison
VBTLX has a 0.04% expense ratio, which is lower than VBLAX's 0.07% 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
VBTLX vs. VBLAX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.72%, less than VBLAX's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.72% | 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 0.92, VBTLX and VBLAX 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.
VBLAX has higher volatility (2.10%) compared to VBTLX (0.96%). In terms of maximum drawdown, VBTLX dropped -18.81% vs VBLAX's -38.62%.
VBTLX currently has the higher Sharpe Ratio (0.61 vs -0.02), 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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