VCPAX vs. VTBNX
Compare and contrast key facts about Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX) and Vanguard Total Bond Market II Index Fund (VTBNX).
VCPAX is managed by Vanguard. It was launched on Oct 25, 2021. VTBNX is managed by Vanguard.
Performance
VCPAX vs. VTBNX - Performance Comparison
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VCPAX vs. VTBNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCPAX Vanguard Core-Plus Bond Fund Admiral Shares | -0.41% | 8.06% | 2.95% | 6.80% | -12.60% | 0.32% |
VTBNX Vanguard Total Bond Market II Index Fund | -0.60% | 7.18% | 1.32% | 5.68% | -13.12% | -0.06% |
Returns By Period
In the year-to-date period, VCPAX achieves a -0.41% return, which is significantly higher than VTBNX's -0.60% return.
VCPAX
- 1D
- 0.47%
- 1M
- -2.20%
- YTD
- -0.41%
- 6M
- 0.76%
- 1Y
- 4.63%
- 3Y*
- 4.80%
- 5Y*
- —
- 10Y*
- —
VTBNX
- 1D
- 0.42%
- 1M
- -2.26%
- YTD
- -0.60%
- 6M
- 0.40%
- 1Y
- 3.62%
- 3Y*
- 3.40%
- 5Y*
- 0.22%
- 10Y*
- 1.56%
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VCPAX vs. VTBNX - Expense Ratio Comparison
VCPAX has a 0.20% expense ratio, which is higher than VTBNX's 0.02% 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%.
Return for Risk
VCPAX vs. VTBNX — Risk / Return Rank
VCPAX
VTBNX
VCPAX vs. VTBNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX) and Vanguard Total Bond Market II Index Fund (VTBNX). 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.
| VCPAX | VTBNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 0.98 | +0.22 |
Sortino ratioReturn per unit of downside risk | 1.72 | 1.41 | +0.30 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.77 | +0.19 |
Martin ratioReturn relative to average drawdown | 6.49 | 5.02 | +1.47 |
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
| VCPAX | VTBNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.98 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.04 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.36 | -0.22 |
Correlation
The correlation between VCPAX and VTBNX is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VCPAX vs. VTBNX - Dividend Comparison
VCPAX's dividend yield for the trailing twelve months is around 4.45%, more than VTBNX's 3.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
VCPAX Vanguard Core-Plus Bond Fund Admiral Shares | 4.45% | 4.86% | 5.19% | 4.55% | 3.26% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTBNX Vanguard Total Bond Market II Index Fund | 3.68% | 3.95% | 3.77% | 3.13% | 2.54% | 1.82% | 3.12% | 2.79% | 2.56% | 2.52% | 2.55% |
Drawdowns
VCPAX vs. VTBNX - Drawdown Comparison
The maximum VCPAX drawdown since its inception was -17.25%, smaller than the maximum VTBNX drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for VCPAX and VTBNX.
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Drawdown Indicators
| VCPAX | VTBNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -18.71% | +1.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.67% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.71% | — |
Current DrawdownCurrent decline from peak | -2.20% | -3.11% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -4.91% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.94% | -0.12% |
Volatility
VCPAX vs. VTBNX - Volatility Comparison
Vanguard Core-Plus Bond Fund Admiral Shares (VCPAX) and Vanguard Total Bond Market II Index Fund (VTBNX) have volatilities of 1.56% and 1.52%, 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.
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Volatility by Period
| VCPAX | VTBNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.52% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 2.54% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 4.32% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.70% | 5.92% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.70% | 4.91% | +0.79% |