VBTLX vs. VFIRX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and VFIRX (Vanguard Short-Term Treasury Fund Admiral Shares) are both mutual funds - VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while VFIRX is a Government Bonds fund managed by Vanguard. Over the past 10 years, VBTLX returned 1.54%/yr vs 1.69%/yr for VFIRX. A 0.79 correlation means they provide meaningful diversification when combined. VBTLX charges 0.04%/yr vs 0.10%/yr for VFIRX.
Performance
VBTLX vs. VFIRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VBTLX having a 0.42% return and VFIRX slightly higher at 0.44%. Over the past 10 years, VBTLX has underperformed VFIRX with an annualized return of 1.54%, while VFIRX has yielded a comparatively higher 1.69% annualized return.
VBTLX
- 1D
- 0.52%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.97%
- 1Y
- 4.90%
- 3Y*
- 4.05%
- 5Y*
- 0.05%
- 10Y*
- 1.54%
VFIRX
- 1D
- 0.10%
- 1M
- 0.22%
- YTD
- 0.44%
- 6M
- 0.85%
- 1Y
- 3.48%
- 3Y*
- 4.16%
- 5Y*
- 1.53%
- 10Y*
- 1.69%
VBTLX vs. VFIRX - 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% |
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares | 0.44% | 5.47% | 3.85% | 3.66% | -4.61% | -0.80% | 4.06% | 3.71% | 1.47% | 0.40% |
Correlation
The correlation between VBTLX and VFIRX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001 | 0.79 |
The correlation between VBTLX and VFIRX has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
VBTLX vs. VFIRX — Risk / Return Rank
VBTLX
VFIRX
VBTLX vs. VFIRX - 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 Short-Term Treasury Fund Admiral Shares (VFIRX). 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 | VFIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.36 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 2.49 | -0.79 |
| Martin ratioReturn relative to average drawdown | 4.93 | 8.14 | -3.22 |
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Drawdowns
VBTLX vs. VFIRX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, which is greater than VFIRX's maximum drawdown of -6.73%. Use the drawdown chart below to compare losses from any high point for VBTLX and VFIRX.
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Drawdown Indicators
| VBTLX | VFIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -6.73% | -12.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -1.40% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -1.40% | -4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -6.65% | -11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -6.73% | -12.08% |
Current DrawdownCurrent decline from peak | -2.18% | -0.56% | -1.62% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -0.71% | -1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 0.43% | +0.57% |
Volatility
VBTLX vs. VFIRX - Volatility Comparison
Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a higher volatility of 1.33% compared to Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX) at 0.57%. This indicates that VBTLX's price experiences larger fluctuations and is considered to be riskier than VFIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | VFIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 0.57% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | 1.51% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 2.05% | +1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 2.68% | +3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 2.13% | +2.85% |
VBTLX vs. VFIRX - Expense Ratio Comparison
VBTLX has a 0.04% expense ratio, which is lower than VFIRX's 0.10% 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. VFIRX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.98%, more than VFIRX's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares | 3.85% | 3.99% | 4.49% | 4.07% | 2.03% | 0.60% | 2.30% | 2.49% | 2.21% | 1.25% | 1.28% | 0.93% |
Frequently Asked Questions
VBTLX and VFIRX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTLX has higher volatility (1.33%) compared to VFIRX (0.57%). In terms of maximum drawdown, VBTLX dropped -18.81% vs VFIRX's -6.73%.
VFIRX currently has the higher Sharpe Ratio (1.71 vs 1.25), 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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