VBTLX vs. VTAPX
VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) and VTAPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares) are both mutual funds - VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while VTAPX is a Inflation-Protected Bonds fund managed by Vanguard. Over the past 10 years, VBTLX returned 1.58%/yr vs 3.13%/yr for VTAPX. A 0.55 correlation means they provide meaningful diversification when combined. VBTLX charges 0.04%/yr vs 0.06%/yr for VTAPX.
Performance
VBTLX vs. VTAPX - Performance Comparison
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Returns By Period
In the year-to-date period, VBTLX achieves a 0.42% return, which is significantly lower than VTAPX's 2.05% return. Over the past 10 years, VBTLX has underperformed VTAPX with an annualized return of 1.58%, while VTAPX has yielded a comparatively higher 3.13% 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%
VTAPX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.05%
- 6M
- 2.04%
- 1Y
- 4.69%
- 3Y*
- 5.23%
- 5Y*
- 3.38%
- 10Y*
- 3.13%
VBTLX vs. VTAPX - 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% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 2.05% | 6.03% | 4.73% | 4.59% | -2.84% | 5.26% | 4.97% | 4.85% | 0.53% | 0.82% |
Correlation
The correlation between VBTLX and VTAPX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.55 |
The correlation between VBTLX and VTAPX shifts across timeframes, from 0.47 (1 year) to 0.66 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VBTLX vs. VTAPX — Risk / Return Rank
VBTLX
VTAPX
VBTLX vs. VTAPX - 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 Inflation-Protected Securities Index Fund Admiral Shares (VTAPX). 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 | VTAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.65 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 6.45 | -4.59 |
| Martin ratioReturn relative to average drawdown | 5.58 | 25.59 | -20.01 |
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 | VTAPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 3.03 | -1.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 1.27 | -1.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 1.41 | -1.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 1.07 | -0.31 |
Drawdowns
VBTLX vs. VTAPX - Drawdown Comparison
The maximum VBTLX drawdown since its inception was -18.81%, which is greater than VTAPX's maximum drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for VBTLX and VTAPX.
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Drawdown Indicators
| VBTLX | VTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -5.33% | -13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -0.72% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.00% | -0.92% | -5.08% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -5.33% | -12.81% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | -5.33% | -13.48% |
Current DrawdownCurrent decline from peak | -2.18% | -0.04% | -2.14% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -1.03% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.18% | +0.78% |
Volatility
VBTLX vs. VTAPX - Volatility Comparison
Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) has a higher volatility of 1.38% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) at 0.57%. This indicates that VBTLX's price experiences larger fluctuations and is considered to be riskier than VTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBTLX | VTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 0.57% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 1.11% | +1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 1.52% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 2.67% | +3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 2.23% | +2.75% |
VBTLX vs. VTAPX - Expense Ratio Comparison
VBTLX has a 0.04% expense ratio, which is lower than VTAPX's 0.06% 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. VTAPX - Dividend Comparison
VBTLX's dividend yield for the trailing twelve months is around 3.98%, more than VTAPX's 3.55% 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% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 3.55% | 3.78% | 2.68% | 2.84% | 6.82% | 4.67% | 1.19% | 1.94% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
VBTLX and VTAPX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTLX has higher volatility (1.38%) compared to VTAPX (0.57%). In terms of maximum drawdown, VBTLX dropped -18.81% vs VTAPX's -5.33%.
VTAPX currently has the higher Sharpe Ratio (3.03 vs 1.36), 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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