VBTLX vs. VGCAX
Compare and contrast key facts about Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) and Vanguard Global Credit Bond Fund Admiral Shares (VGCAX).
VBTLX is managed by Vanguard. It was launched on Nov 12, 2001. VGCAX is managed by Vanguard. It was launched on Nov 15, 2018.
Performance
VBTLX vs. VGCAX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a -0.18% return, which is significantly higher than VGCAX's -1.24% return.
VBTLX
- 1D
- 0.10%
- 1M
- -1.02%
- YTD
- -0.18%
- 6M
- 0.60%
- 1Y
- 3.23%
- 3Y*
- 3.41%
- 5Y*
- 0.21%
- 10Y*
- 1.63%
VGCAX
- 1D
- 0.10%
- 1M
- -2.10%
- YTD
- -1.24%
- 6M
- -0.49%
- 1Y
- 3.86%
- 3Y*
- 5.14%
- 5Y*
- 1.21%
- 10Y*
- —
VBTLX vs. VGCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | -0.18% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | 2.36% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | -1.24% | 7.30% | 3.99% | 9.22% | -13.43% | -0.64% | 10.81% | 13.05% | 0.96% |
Correlation
The correlation between VBTLX and VGCAX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they'll tend to fall together during downturns. For meaningful risk reduction, look for holdings with correlations below 0.5.
VBTLX vs. VGCAX - Expense Ratio Comparison
VBTLX has a 0.05% expense ratio, which is lower than VGCAX's 0.25% 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%.
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Return for Risk
VBTLX vs. VGCAX — Risk / Return Rank
VBTLX
VGCAX
VBTLX vs. VGCAX - 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 Global Credit Bond Fund Admiral Shares (VGCAX). 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 | VGCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 1.09 | -0.19 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.50 | -0.20 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.28 | +0.10 |
Martin ratioReturn relative to average drawdown | 3.83 | 4.96 | -1.13 |
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 | VGCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 1.09 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.24 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.77 | -0.01 |
Drawdowns
VBTLX vs. VGCAX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, roughly equal to the maximum VGCAX drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for VBTLX and VGCAX.
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Drawdown Indicators
| VBTLX | VGCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -18.63% | -0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.05% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.63% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -2.76% | -2.95% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -4.41% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.79% | +0.19% |
Volatility
VBTLX vs. VGCAX - Volatility Comparison
The current volatility for Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) is 1.56%, while Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) has a volatility of 1.76%. This indicates that VBTLX experiences smaller price fluctuations and is considered to be less risky than VGCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | VGCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.76% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 2.40% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 3.61% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 5.05% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 4.87% | +0.09% |
Dividends
VBTLX vs. VGCAX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.60%, less than VGCAX's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.60% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
VGCAX Vanguard Global Credit Bond Fund Admiral Shares | 3.91% | 4.91% | 4.65% | 4.48% | 2.72% | 3.16% | 4.65% | 6.88% | 0.36% | 0.00% | 0.00% | 0.00% |