VCPIX vs. LSIIX

Last updated Jun 3, 2026

VCPIX (Vanguard Core-Plus Bond Fund Investor Shares) and LSIIX (Loomis Sayles Investment Grade Bond Fund Class Y) are both Total Bond Market funds. Over the past 3 years, VCPIX returned 5.30%/yr vs 4.49%/yr for LSIIX. Their correlation of 0.90 suggests significant overlap in exposure. VCPIX charges 0.30%/yr vs 0.54%/yr for LSIIX.

Performance

VCPIX vs. LSIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) and Loomis Sayles Investment Grade Bond Fund Class Y (LSIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCPIX achieves a 0.62% return, which is significantly higher than LSIIX's 0.25% return.

VCPIX

• 1D: -0.07%
• 1M: 0.16%
• YTD: 0.62%
• 6M: 0.79%
• 1Y: 6.04%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —

LSIIX

• 1D: -0.10%
• 1M: 0.22%
• YTD: 0.25%
• 6M: 0.33%
• 1Y: 3.99%
• 3Y*: 4.49%
• 5Y*: 0.90%
• 10Y*: 3.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VCPIX vs. LSIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VCPIX Vanguard Core-Plus Bond Fund Investor Shares	0.62%	8.01%	2.83%	6.64%	-12.68%	0.35%
LSIIX Loomis Sayles Investment Grade Bond Fund Class Y	0.25%	5.58%	2.91%	7.50%	-11.31%	-0.24%

Correlation

The correlation between VCPIX and LSIIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 15, 2021	0.90

The correlation between VCPIX and LSIIX shifts across timeframes, from 0.74 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VCPIX vs. LSIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCPIX

VCPIX Risk / Return Rank: 32
VCPIX Sharpe Ratio Rank: 31
VCPIX Sortino Ratio Rank: 33
VCPIX Omega Ratio Rank: 31
VCPIX Calmar Ratio Rank: 33
VCPIX Martin Ratio Rank: 30

LSIIX

LSIIX Risk / Return Rank: 14
LSIIX Sharpe Ratio Rank: 16
LSIIX Sortino Ratio Rank: 16
LSIIX Omega Ratio Rank: 15
LSIIX Calmar Ratio Rank: 13
LSIIX Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCPIX vs. LSIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) and Loomis Sayles Investment Grade Bond Fund Class Y (LSIIX). 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.

	VCPIX	LSIIX	Difference
Sharpe ratio Return per unit of total volatility	1.63	1.16	+0.47
Sortino ratio Return per unit of downside risk	2.42	1.71	+0.71
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	2.19	1.30	+0.89
Martin ratio Return relative to average drawdown	7.16	3.62	+3.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCPIX vs. LSIIX - Sharpe Ratio Comparison

The current VCPIX Sharpe Ratio is 1.63, which is higher than the LSIIX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of VCPIX and LSIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCPIX	LSIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.16	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	1.14	-0.98

Drawdowns

VCPIX vs. LSIIX - Drawdown Comparison

The maximum VCPIX drawdown since its inception was -17.33%, smaller than the maximum LSIIX drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for VCPIX and LSIIX.

Drawdown Indicators

	VCPIX	LSIIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.33%	-20.77%	+3.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-2.99%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-5.68%	-5.45%	-0.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-15.62%	—
Current Drawdown Current decline from peak	-1.12%	-1.33%	+0.21%
Average Drawdown Average peak-to-trough decline	-6.60%	-2.42%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.16%	-0.33%

Volatility

VCPIX vs. LSIIX - Volatility Comparison

The current volatility for Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) is 1.24%, while Loomis Sayles Investment Grade Bond Fund Class Y (LSIIX) has a volatility of 1.34%. This indicates that VCPIX experiences smaller price fluctuations and is considered to be less risky than LSIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCPIX	LSIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	1.34%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	2.85%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.57%	4.04%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	5.28%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	4.52%	+1.17%

VCPIX vs. LSIIX - Expense Ratio Comparison

VCPIX has a 0.30% expense ratio, which is lower than LSIIX's 0.54% expense ratio.

Dividends

VCPIX vs. LSIIX - Dividend Comparison

VCPIX's dividend yield for the trailing twelve months is around 4.74%, more than LSIIX's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSIIX Loomis Sayles Investment Grade Bond Fund Class Y	3.54%	3.68%	4.86%	4.25%	3.32%	4.10%	8.20%	3.56%	2.18%	4.10%	6.71%	3.91%
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

Can I hold both VCPIX and LSIIX in my portfolio?

VCPIX and LSIIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VCPIX or LSIIX?

LSIIX has higher volatility (1.34%) compared to VCPIX (1.24%). In terms of maximum drawdown, VCPIX dropped -17.33% vs LSIIX's -20.77%.

Which has better risk-adjusted returns?

VCPIX currently has the higher Sharpe Ratio (1.63 vs 1.16), 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.