VBTLX vs. VBMFX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and VBMFX (Vanguard Total Bond Market Index Fund) are both mutual funds - VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while VBMFX is a Intermediate Core Bond fund managed by Vanguard. Over the past 10 years, VBTLX returned 1.58%/yr vs 1.46%/yr for VBMFX. With a 1.00 correlation, they move nearly in lockstep. VBTLX charges 0.04%/yr vs 0.15%/yr for VBMFX.
Performance
VBTLX vs. VBMFX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a 0.42% return, which is significantly higher than VBMFX's 0.38% return. Over the past 10 years, VBTLX has outperformed VBMFX with an annualized return of 1.58%, while VBMFX has yielded a comparatively lower 1.46% annualized return.
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VBMFX
- 1D
- 0.00%
- 1M
- 0.54%
- YTD
- 0.38%
- 6M
- 0.29%
- 1Y
- 5.22%
- 3Y*
- 3.93%
- 5Y*
- 0.10%
- 10Y*
- 1.46%
VBTLX vs. VBMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
VBMFX Vanguard Total Bond Market Index Fund | 0.38% | 7.05% | 1.15% | 5.62% | -13.25% | -2.04% | 7.63% | 8.61% | -0.34% | 3.45% |
Correlation
The correlation between VBTLX and VBMFX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 1.00 |
The correlation between VBTLX and VBMFX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
VBTLX vs. VBMFX — Risk / Return Rank
VBTLX
VBMFX
VBTLX vs. VBMFX - 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 Total Bond Market Index Fund (VBMFX). 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.
| VBTLX | VBMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.80 | +0.05 |
| Martin ratioReturn relative to average drawdown | 5.58 | 5.43 | +0.15 |
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
| VBTLX | VBMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.33 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.02 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.29 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.96 | -0.20 |
Drawdowns
VBTLX vs. VBMFX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, roughly equal to the maximum VBMFX drawdown of -19.08%. Use the drawdown chart below to compare losses from any high point for VBTLX and VBMFX.
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Drawdown Indicators
| VBTLX | VBMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -19.08% | +0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.91% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -6.02% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.24% | +0.10% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -19.08% | +0.27% |
Current DrawdownCurrent decline from peak | -2.18% | -2.90% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -2.70% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.96% | 0.00% |
Volatility
VBTLX vs. VBMFX - Volatility Comparison
Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) and Vanguard Total Bond Market Index Fund (VBMFX) have volatilities of 1.38% and 1.37%, 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
| VBTLX | VBMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.37% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 2.79% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.96% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 6.01% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 4.98% | 0.00% |
VBTLX vs. VBMFX - Expense Ratio Comparison
VBTLX has a 0.04% expense ratio, which is lower than VBMFX's 0.15% 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. VBMFX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.98%, more than VBMFX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBMFX Vanguard Total Bond Market Index Fund | 3.87% | 3.76% | 3.57% | 2.99% | 2.49% | 1.72% | 2.31% | 2.63% | 2.47% | 2.45% | 2.43% | 2.71% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 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 1.00, VBTLX and VBMFX 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 (1.38%) compared to VBMFX (1.37%). In terms of maximum drawdown, VBTLX dropped -18.81% vs VBMFX's -19.08%.
VBTLX currently has the higher Sharpe Ratio (1.36 vs 1.33), 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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