VCOBX vs. VCORX
VCOBX (Vanguard Core Bond Fund Admiral Shares) and VCORX (Vanguard Core Bond Fund Investor Shares) are both mutual funds - VCOBX is a Intermediate Core Bond fund actively managed by Vanguard, while VCORX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VCOBX returned 2.02%/yr vs 2.00%/yr for VCORX. With a 0.98 correlation, they move nearly in lockstep. VCOBX charges 0.10%/yr vs 0.20%/yr for VCORX.
Performance
VCOBX vs. VCORX - Performance Comparison
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Returns By Period
In the year-to-date period, VCOBX achieves a 0.42% return, which is significantly higher than VCORX's 0.32% return. Both investments have delivered pretty close results over the past 10 years, with VCOBX having a 2.02% annualized return and VCORX not far behind at 2.00%.
VCOBX
- 1D
- 0.00%
- 1M
- -0.12%
- 6M
- 0.26%
- YTD
- 0.42%
- 1Y
- 4.49%
- 3Y*
- 4.68%
- 5Y*
- 0.30%
- 10Y*
- 2.02%
VCORX
- 1D
- 0.00%
- 1M
- -0.18%
- 6M
- 0.21%
- YTD
- 0.32%
- 1Y
- 4.34%
- 3Y*
- 4.43%
- 5Y*
- 0.12%
- 10Y*
- 2.00%
VCOBX vs. VCORX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCOBX Vanguard Core Bond Fund Admiral Shares | 0.42% | 7.73% | 2.21% | 6.39% | -13.13% | -1.51% | 10.41% | 9.64% | -0.85% | 3.89% |
VCORX Vanguard Core Bond Fund Investor Shares | 0.32% | 7.68% | 2.10% | 5.90% | -13.27% | -0.80% | 10.19% | 9.47% | -0.92% | 4.34% |
Correlation
The correlation between VCOBX and VCORX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2016 | 0.98 |
The correlation between VCOBX and VCORX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
VCOBX vs. VCORX — Risk / Return Rank
VCOBX
VCORX
VCOBX vs. VCORX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond Fund Admiral Shares (VCOBX) and Vanguard Core Bond Fund Investor Shares (VCORX). 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 | VCORX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.65 | +0.07 |
| Martin ratioReturn relative to average drawdown | 4.67 | 4.53 | +0.14 |
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Drawdowns
VCOBX vs. VCORX - Drawdown Comparison
The maximum VCOBX drawdown since its inception was -18.14%, roughly equal to the maximum VCORX drawdown of -18.14%. Use the drawdown chart below to compare losses from any high point for VCOBX and VCORX.
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Drawdown Indicators
| VCOBX | VCORX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.14% | -18.14% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -2.64% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.63% | -5.99% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.03% | -18.14% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -18.14% | -18.14% | 0.00% |
Current DrawdownCurrent decline from peak | -1.42% | -1.46% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -4.23% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.96% | 0.00% |
Volatility
VCOBX vs. VCORX - Volatility Comparison
Vanguard Core Bond Fund Admiral Shares (VCOBX) has a higher volatility of 1.09% compared to Vanguard Core Bond Fund Investor Shares (VCORX) at 1.02%. This indicates that VCOBX's price experiences larger fluctuations and is considered to be riskier than VCORX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCOBX | VCORX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.02% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.84% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.63% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 5.81% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 4.80% | -0.04% |
VCOBX vs. VCORX - Expense Ratio Comparison
VCOBX has a 0.10% expense ratio, which is lower than VCORX's 0.20% 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
VCOBX vs. VCORX - Dividend Comparison
VCOBX's dividend yield for the trailing twelve months is around 4.76%, more than VCORX's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VCOBX Vanguard Core Bond Fund Admiral Shares | 4.76% | 4.80% | 5.04% | 4.44% | 3.01% | 1.23% | 3.09% | 3.08% | 3.10% | 2.20% | 2.29% |
VCORX Vanguard Core Bond Fund Investor Shares | 4.66% | 4.70% | 4.93% | 3.99% | 2.90% | 1.91% | 2.95% | 2.93% | 2.98% | 2.62% | 2.20% |
Frequently Asked Questions
With a correlation of 0.97, VCOBX and VCORX 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.
VCOBX has higher volatility (1.09%) compared to VCORX (1.02%). In terms of maximum drawdown, VCOBX dropped -18.14% vs VCORX's -18.14%.
VCOBX currently has the higher Sharpe Ratio (1.25 vs 1.20), 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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