VCOBX vs. VCRB
VCOBX (Vanguard Core Bond Fund Admiral Shares) and VCRB (Vanguard Core Bond ETF) are both Intermediate Core Bond funds from Vanguard. Both are actively managed. Over the past year, VCOBX returned 4.61% vs 4.77% for VCRB. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.10% expense ratio.
Performance
VCOBX vs. VCRB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCOBX achieves a 0.54% return, which is significantly lower than VCRB's 0.73% 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%
VCRB
- 1D
- 0.10%
- 1M
- 0.72%
- YTD
- 0.73%
- 6M
- 0.80%
- 1Y
- 4.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCOBX vs. VCRB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VCOBX Vanguard Core Bond Fund Admiral Shares | 0.54% | 7.73% | 2.21% | 1.37% |
VCRB Vanguard Core Bond ETF | 0.73% | 7.56% | 2.21% | 0.95% |
Correlation
The correlation between VCOBX and VCRB 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 (All Time) Calculated using the full available price history since Dec 14, 2023 | 0.96 |
The correlation between VCOBX and VCRB 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. VCRB — Risk / Return Rank
VCOBX
VCRB
VCOBX vs. VCRB - 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 ETF (VCRB). 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 | VCRB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.82 | +0.04 |
| Martin ratioReturn relative to average drawdown | 5.25 | 5.16 | +0.09 |
Loading charts...
Drawdowns
VCOBX vs. VCRB - Drawdown Comparison
The maximum VCOBX drawdown since its inception was -18.14%, which is greater than VCRB's maximum drawdown of -4.59%. Use the drawdown chart below to compare losses from any high point for VCOBX and VCRB.
Loading charts...
Drawdown Indicators
| VCOBX | VCRB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.14% | -4.59% | -13.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -2.63% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -5.63% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.14% | — | — |
Current DrawdownCurrent decline from peak | -1.30% | -1.14% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -1.16% | -3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.93% | -0.01% |
Volatility
VCOBX vs. VCRB - Volatility Comparison
Vanguard Core Bond Fund Admiral Shares (VCOBX) has a higher volatility of 1.05% compared to Vanguard Core Bond ETF (VCRB) at 0.94%. This indicates that VCOBX's price experiences larger fluctuations and is considered to be riskier than VCRB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCOBX | VCRB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.94% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 2.66% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 3.61% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.78% | 4.72% | +1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.76% | 4.72% | +0.04% |
VCOBX vs. VCRB - Expense Ratio Comparison
Both VCOBX and VCRB have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCOBX vs. VCRB - Dividend Comparison
VCOBX's dividend yield for the trailing twelve months is around 4.74%, more than VCRB's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VCRB Vanguard Core Bond ETF | 4.59% | 4.55% | 4.22% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, VCOBX and VCRB 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 (1.05%) compared to VCRB (0.94%). In terms of maximum drawdown, VCOBX dropped -18.14% vs VCRB's -4.59%.
VCOBX currently has the higher Sharpe Ratio (1.34 vs 1.33), 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 VCRB
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