VCPIX vs. VPLS
VCPIX (Vanguard Core-Plus Bond Fund Investor Shares) and VPLS (Vanguard Core-Plus Bond ETF) are both funds - VCPIX is a Total Bond Market fund managed by Vanguard, while VPLS is a Intermediate Core-Plus Bond fund actively managed by Vanguard. Over the past year, VCPIX returned 4.55% vs 4.38% for VPLS. Their correlation of 0.95 suggests significant overlap in exposure. VCPIX charges 0.30%/yr vs 0.20%/yr for VPLS.
Performance
VCPIX vs. VPLS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCPIX achieves a 0.41% return, which is significantly higher than VPLS's 0.28% return.
VCPIX
- 1D
- -0.12%
- 1M
- -0.32%
- 6M
- 0.30%
- YTD
- 0.41%
- 1Y
- 4.55%
- 3Y*
- 5.39%
- 5Y*
- —
- 10Y*
- —
VPLS
- 1D
- -0.37%
- 1M
- -0.62%
- 6M
- -0.00%
- YTD
- 0.28%
- 1Y
- 4.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCPIX vs. VPLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 0.41% | 8.01% | 2.83% | 2.35% |
VPLS Vanguard Core-Plus Bond ETF | 0.28% | 7.86% | 2.72% | 2.83% |
Correlation
The correlation between VCPIX and VPLS is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023 | 0.95 |
The correlation between VCPIX and VPLS has been stable across timeframes, ranging from 0.94 to 0.95 - 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
VCPIX vs. VPLS — Risk / Return Rank
VCPIX
VPLS
VCPIX vs. VPLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) and Vanguard Core-Plus Bond ETF (VPLS). 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 | VPLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.62 | -0.07 |
| Martin ratioReturn relative to average drawdown | 4.73 | 4.97 | -0.25 |
Loading charts...
Drawdowns
VCPIX vs. VPLS - Drawdown Comparison
The maximum VCPIX drawdown since its inception was -17.33%, which is greater than VPLS's maximum drawdown of -4.17%. Use the drawdown chart below to compare losses from any high point for VCPIX and VPLS.
Loading charts...
Drawdown Indicators
| VCPIX | VPLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.33% | -4.17% | -13.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.72% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | — | — |
Current DrawdownCurrent decline from peak | -1.32% | -1.56% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -1.00% | -5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.88% | +0.01% |
Volatility
VCPIX vs. VPLS - Volatility Comparison
Vanguard Core-Plus Bond Fund Investor Shares (VCPIX) and Vanguard Core-Plus Bond ETF (VPLS) have volatilities of 1.07% and 1.09%, 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.
Loading charts...
Volatility by Period
| VCPIX | VPLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.09% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.84% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 3.59% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.65% | 4.57% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.65% | 4.57% | +1.08% |
VCPIX vs. VPLS - Expense Ratio Comparison
VCPIX has a 0.30% expense ratio, which is higher than VPLS's 0.20% expense ratio.
Dividends
VCPIX vs. VPLS - Dividend Comparison
VCPIX's dividend yield for the trailing twelve months is around 4.76%, which matches VPLS's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
VCPIX Vanguard Core-Plus Bond Fund Investor Shares | 4.76% | 4.76% | 5.08% | 4.46% | 3.15% | 0.25% |
VPLS Vanguard Core-Plus Bond ETF | 4.79% | 4.78% | 4.52% | 0.18% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, VCPIX and VPLS 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.
VPLS has higher volatility (1.09%) compared to VCPIX (1.07%). In terms of maximum drawdown, VCPIX dropped -17.33% vs VPLS's -4.17%.
VPLS currently has the higher Sharpe Ratio (1.23 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.
Find the right allocation for VCPIX and VPLS
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