VCPIX vs. ACWX
VCPIX (Vanguard Core-Plus Bond Fund Investor Shares) and ACWX (iShares MSCI ACWI ex U.S. ETF) are both funds - VCPIX is a Total Bond Market fund managed by Vanguard, while ACWX is a Foreign Large Cap Equities fund tracking the MSCI All Country World ex-U.S. Index. Over the past 3 years, VCPIX returned 5.30%/yr vs 18.44%/yr for ACWX. At a 0.28 correlation, their price movements are largely independent. VCPIX charges 0.30%/yr vs 0.32%/yr for ACWX.
Performance
VCPIX vs. ACWX - Performance Comparison
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Returns By Period
In the year-to-date period, VCPIX achieves a 0.73% return, which is significantly lower than ACWX's 13.90% return.
VCPIX
- 1D
- 0.47%
- 1M
- 0.51%
- YTD
- 0.73%
- 6M
- 1.25%
- 1Y
- 5.54%
- 3Y*
- 5.30%
- 5Y*
- —
- 10Y*
- —
ACWX
- 1D
- 0.42%
- 1M
- 1.39%
- YTD
- 13.90%
- 6M
- 15.65%
- 1Y
- 30.35%
- 3Y*
- 18.44%
- 5Y*
- 8.26%
- 10Y*
- 10.05%
VCPIX vs. ACWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 0.73% | 8.01% | 2.83% | 6.64% | -12.68% | 0.35% |
ACWX iShares MSCI ACWI ex U.S. ETF | 13.90% | 32.59% | 5.17% | 15.63% | -16.07% | 0.62% |
Correlation
The correlation between VCPIX and ACWX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021 | 0.28 |
The correlation between VCPIX and ACWX shifts across timeframes, from 0.28 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCPIX vs. ACWX — Risk / Return Rank
VCPIX
ACWX
VCPIX vs. ACWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) and iShares MSCI ACWI ex U.S. ETF (ACWX). 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.
| VCPIX | ACWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.52 | -0.47 |
| Martin ratioReturn relative to average drawdown | 6.44 | 9.66 | -3.22 |
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Drawdowns
VCPIX vs. ACWX - Drawdown Comparison
The maximum VCPIX drawdown since its inception was -17.33%, smaller than the maximum ACWX drawdown of -60.40%. Use the drawdown chart below to compare losses from any high point for VCPIX and ACWX.
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Drawdown Indicators
| VCPIX | ACWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.33% | -60.40% | +43.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -11.42% | +8.70% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -13.84% | +8.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.01% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.38% | — |
Current DrawdownCurrent decline from peak | -1.01% | -1.41% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -13.32% | +6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 2.98% | -2.12% |
Volatility
VCPIX vs. ACWX - Volatility Comparison
The current volatility for Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) is 1.22%, while iShares MSCI ACWI ex U.S. ETF (ACWX) has a volatility of 6.97%. This indicates that VCPIX experiences smaller price fluctuations and is considered to be less risky than ACWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCPIX | ACWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 6.97% | -5.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.66% | 14.32% | -11.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 16.43% | -12.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.68% | 16.46% | -10.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.68% | 17.43% | -11.75% |
VCPIX vs. ACWX - Expense Ratio Comparison
VCPIX has a 0.30% expense ratio, which is lower than ACWX's 0.32% expense ratio.
Dividends
VCPIX vs. ACWX - Dividend Comparison
VCPIX's dividend yield for the trailing twelve months is around 4.74%, more than ACWX's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWX iShares MSCI ACWI ex U.S. ETF | 2.48% | 2.82% | 2.97% | 2.96% | 2.68% | 2.74% | 1.88% | 3.22% | 2.60% | 2.40% | 2.77% | 2.51% |
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 4.74% | 4.76% | 5.08% | 4.46% | 3.15% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VCPIX and ACWX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACWX has higher volatility (6.97%) compared to VCPIX (1.22%). In terms of maximum drawdown, VCPIX dropped -17.33% vs ACWX's -60.40%.
ACWX currently has the higher Sharpe Ratio (1.75 vs 1.58), 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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