VCOBX vs. BND
VCOBX (Vanguard Core Bond Fund Admiral Shares) and BND (Vanguard Total Bond Market ETF) are both funds - VCOBX is a Intermediate Core Bond fund actively managed by Vanguard, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. VCOBX is actively managed, while BND is passively managed. Over the past 10 years, VCOBX returned 2.12%/yr vs 1.56%/yr for BND. With a 0.96 correlation, they move nearly in lockstep. VCOBX charges 0.10%/yr vs 0.03%/yr for BND.
Performance
VCOBX vs. BND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCOBX achieves a 0.54% return, which is significantly higher than BND's 0.49% return. Over the past 10 years, VCOBX has outperformed BND with an annualized return of 2.12%, while BND has yielded a comparatively lower 1.56% annualized return.
VCOBX
- 1D
- -0.28%
- 1M
- 0.61%
- YTD
- 0.54%
- 6M
- 0.65%
- 1Y
- 4.61%
- 3Y*
- 4.80%
- 5Y*
- 0.50%
- 10Y*
- 2.12%
BND
- 1D
- 0.11%
- 1M
- 0.64%
- YTD
- 0.49%
- 6M
- 0.57%
- 1Y
- 4.23%
- 3Y*
- 3.96%
- 5Y*
- 0.05%
- 10Y*
- 1.56%
VCOBX vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCOBX Vanguard Core Bond Fund Admiral Shares | 0.54% | 7.73% | 2.21% | 6.39% | -13.13% | -1.51% | 10.41% | 9.64% | -0.85% | 3.89% |
BND Vanguard Total Bond Market ETF | 0.49% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between VCOBX and BND is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.96 |
The correlation between VCOBX and BND has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VCOBX vs. BND — Risk / Return Rank
VCOBX
BND
VCOBX vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond Fund Admiral Shares (VCOBX) and Vanguard Total Bond Market ETF (BND). 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.
| VCOBX | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.59 | +0.27 |
| Martin ratioReturn relative to average drawdown | 5.25 | 4.52 | +0.74 |
Loading charts...
Drawdowns
VCOBX vs. BND - Drawdown Comparison
The maximum VCOBX drawdown since its inception was -18.14%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VCOBX and BND.
Loading charts...
Drawdown Indicators
| VCOBX | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.14% | -18.58% | +0.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -2.68% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.63% | -5.92% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -18.03% | -17.91% | -0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -18.14% | -18.58% | +0.44% |
Current DrawdownCurrent decline from peak | -1.30% | -2.15% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -3.06% | -1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.94% | -0.02% |
Volatility
VCOBX vs. BND - Volatility Comparison
Vanguard Core Bond Fund Admiral Shares (VCOBX) and Vanguard Total Bond Market ETF (BND) have volatilities of 1.05% and 1.08%, 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.
Loading charts...
Volatility by Period
| VCOBX | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.08% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 2.77% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 3.74% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 6.03% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 5.53% | -0.77% |
VCOBX vs. BND - Expense Ratio Comparison
VCOBX has a 0.10% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCOBX vs. BND - Dividend Comparison
VCOBX's dividend yield for the trailing twelve months is around 4.74%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 4.74% | 4.80% | 5.04% | 4.44% | 3.01% | 1.23% | 3.09% | 3.08% | 3.10% | 2.20% | 2.29% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, VCOBX and BND 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.
BND has higher volatility (1.08%) compared to VCOBX (1.05%). In terms of maximum drawdown, VCOBX dropped -18.14% vs BND's -18.58%.
VCOBX currently has the higher Sharpe Ratio (1.34 vs 1.14), 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.
Find the right allocation for VCOBX and BND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer