VCRB vs. VPAIX
Compare and contrast key facts about Vanguard Core Bond ETF (VCRB) and Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX).
VCRB is an actively managed fund by Vanguard. It was launched on Dec 14, 2023. VPAIX is managed by Vanguard. It was launched on Apr 7, 1986.
Performance
VCRB vs. VPAIX - Performance Comparison
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VCRB vs. VPAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VCRB Vanguard Core Bond ETF | 0.07% | 7.56% | 2.21% | 0.65% |
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | -0.60% | 5.27% | 2.59% | 1.01% |
Returns By Period
In the year-to-date period, VCRB achieves a 0.07% return, which is significantly higher than VPAIX's -0.60% return.
VCRB
- 1D
- 0.06%
- 1M
- -1.38%
- YTD
- 0.07%
- 6M
- 0.78%
- 1Y
- 4.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VPAIX
- 1D
- 0.28%
- 1M
- -2.19%
- YTD
- -0.60%
- 6M
- 1.54%
- 1Y
- 4.27%
- 3Y*
- 3.81%
- 5Y*
- 1.17%
- 10Y*
- 2.65%
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VCRB vs. VPAIX - Expense Ratio Comparison
VCRB has a 0.10% expense ratio, which is lower than VPAIX's 0.17% expense ratio. Despite the difference, 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
VCRB vs. VPAIX — Risk / Return Rank
VCRB
VPAIX
VCRB vs. VPAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond ETF (VCRB) and Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX). 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.
| VCRB | VPAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.89 | +0.13 |
Sortino ratioReturn per unit of downside risk | 1.44 | 1.22 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.06 | +0.61 |
Martin ratioReturn relative to average drawdown | 4.83 | 3.26 | +1.58 |
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
| VCRB | VPAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.89 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.26 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 1.13 | -0.18 |
Correlation
The correlation between VCRB and VPAIX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VCRB vs. VPAIX - Dividend Comparison
VCRB's dividend yield for the trailing twelve months is around 4.59%, more than VPAIX's 3.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | 3.68% | 4.48% | 4.04% | 3.25% | 3.12% | 2.45% | 3.16% | 3.70% | 3.91% | 3.93% | 4.10% | 3.92% |
Drawdowns
VCRB vs. VPAIX - Drawdown Comparison
The maximum VCRB drawdown since its inception was -4.59%, smaller than the maximum VPAIX drawdown of -19.51%. Use the drawdown chart below to compare losses from any high point for VCRB and VPAIX.
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Drawdown Indicators
| VCRB | VPAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.59% | -19.51% | +14.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -5.20% | +2.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.76% | — |
Current DrawdownCurrent decline from peak | -1.79% | -2.55% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -2.16% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 1.69% | -0.74% |
Volatility
VCRB vs. VPAIX - Volatility Comparison
Vanguard Core Bond ETF (VCRB) has a higher volatility of 1.66% compared to Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) at 1.21%. This indicates that VCRB's price experiences larger fluctuations and is considered to be riskier than VPAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCRB | VPAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.21% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 1.84% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 5.32% | -0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.82% | 4.45% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 4.39% | +0.43% |