VCOBX vs. BNDX
VCOBX (Vanguard Core Bond Fund Admiral Shares) and BNDX (Vanguard Total International Bond ETF) are both funds - VCOBX is a Intermediate Core Bond fund actively managed by Vanguard, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged). VCOBX is actively managed, while BNDX is passively managed. Over the past 10 years, VCOBX returned 1.95%/yr vs 1.55%/yr for BNDX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. VCOBX charges 0.10%/yr vs 0.07%/yr for BNDX.
Performance
VCOBX vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, VCOBX achieves a -0.20% return, which is significantly lower than BNDX's 0.89% return. Over the past 10 years, VCOBX has outperformed BNDX with an annualized return of 1.95%, while BNDX has yielded a comparatively lower 1.55% annualized return.
VCOBX
- 1D
- 0.23%
- 1M
- -0.95%
- 6M
- -0.46%
- YTD
- -0.20%
- 1Y
- 2.20%
- 3Y*
- 4.70%
- 5Y*
- 0.03%
- 10Y*
- 1.95%
- ALL TIME*
- 2.17%
BNDX
- 1D
- 0.27%
- 1M
- -0.31%
- 6M
- 0.47%
- YTD
- 0.89%
- 1Y
- 1.39%
- 3Y*
- 4.21%
- 5Y*
- 0.00%
- 10Y*
- 1.55%
- ALL TIME*
- 2.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $168.73M | $188.21M | $228.64M | |
| $0.00 | $0.00 | $0.00 |
VCOBX vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCOBX Vanguard Core Bond Fund Admiral Shares | -0.20% | 7.73% | 2.21% | 6.39% | -13.13% | -1.51% | 10.41% | 9.64% | -0.85% | 3.89% |
BNDX Vanguard Total International Bond ETF | 0.89% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between VCOBX and BNDX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.76 |
The correlation between VCOBX and BNDX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
VCOBX vs. BNDX — Risk / Return Rank
VCOBX
BNDX
VCOBX vs. BNDX - 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 International Bond ETF (BNDX). 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 | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.07 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 0.48 | +0.41 |
| Martin ratioReturn relative to average drawdown | 2.20 | 1.22 | +0.99 |
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Drawdowns
VCOBX vs. BNDX - Drawdown Comparison
The maximum VCOBX drawdown since its inception was -18.14%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for VCOBX and BNDX.
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Drawdown Indicators
| VCOBX | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.14% | -16.23% | -1.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -2.93% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.88% | -2.93% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -17.99% | -15.80% | -2.19% |
Max Drawdown (10Y)Largest decline over 10 years | -18.14% | -16.23% | -1.91% |
Current DrawdownCurrent decline from peak | -2.02% | -1.14% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -3.08% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.15% | -0.10% |
Volatility
VCOBX vs. BNDX - Volatility Comparison
The current volatility for Vanguard Core Bond Fund Admiral Shares (VCOBX) is 0.97%, while Vanguard Total International Bond ETF (BNDX) has a volatility of 1.20%. This indicates that VCOBX experiences smaller price fluctuations and is considered to be less risky than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCOBX | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.20% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 3.13% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 3.55% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 4.91% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 4.09% | +0.67% |
VCOBX vs. BNDX - Expense Ratio Comparison
VCOBX has a 0.10% expense ratio, which is higher than BNDX's 0.07% 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. BNDX - Dividend Comparison
VCOBX's dividend yield for the trailing twelve months is around 4.81%, more than BNDX's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.54% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
VCOBX Vanguard Core Bond Fund Admiral Shares | 4.81% | 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
VCOBX and BNDX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDX has higher volatility (1.20%) compared to VCOBX (0.97%). In terms of maximum drawdown, VCOBX dropped -18.14% vs BNDX's -16.23%.
VCOBX currently has the higher Sharpe Ratio (0.66 vs 0.40), 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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