VEDTX vs. VBTLX

Last updated Jul 14, 2026

VEDTX (Vanguard Extended Duration Treasury Index Fund) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both mutual funds - VEDTX is a Government Bonds fund managed by Vanguard, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VEDTX returned -4.23%/yr vs 1.40%/yr for VBTLX. Their correlation of 0.85 suggests significant overlap in exposure. VEDTX charges 0.06%/yr vs 0.04%/yr for VBTLX.

Performance

VEDTX vs. VBTLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEDTX achieves a -2.19% return, which is significantly lower than VBTLX's 0.03% return. Over the past 10 years, VEDTX has underperformed VBTLX with an annualized return of -4.23%, while VBTLX has yielded a comparatively higher 1.40% annualized return.

VEDTX

• 1D: 0.16%
• 1M: -1.89%
• 6M: -2.54%
• YTD: -2.19%
• 1Y: 2.17%
• 3Y*: -4.81%
• 5Y*: -11.43%
• 10Y*: -4.23%

VBTLX

• 1D: -0.10%
• 1M: -0.29%
• 6M: 0.03%
• YTD: 0.03%
• 1Y: 3.94%
• 3Y*: 4.22%
• 5Y*: -0.15%
• 10Y*: 1.40%

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

VEDTX vs. VBTLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEDTX Vanguard Extended Duration Treasury Index Fund	-2.19%	1.34%	-13.35%	2.15%	-39.40%	-6.52%	24.20%	19.16%	-3.50%	12.69%
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	0.03%	7.17%	1.26%	5.74%	-13.16%	-1.81%	7.72%	8.73%	-0.25%	3.56%

Correlation

The correlation between VEDTX and VBTLX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.85

The correlation between VEDTX and VBTLX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

VEDTX vs. VBTLX — Risk / Return Rank

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

VEDTX

VEDTX Risk / Return Rank: 3
VEDTX Sharpe Ratio Rank: 3
VEDTX Sortino Ratio Rank: 3
VEDTX Omega Ratio Rank: 3
VEDTX Calmar Ratio Rank: 3
VEDTX Martin Ratio Rank: 3

VBTLX

VBTLX Risk / Return Rank: 19
VBTLX Sharpe Ratio Rank: 19
VBTLX Sortino Ratio Rank: 19
VBTLX Omega Ratio Rank: 17
VBTLX Calmar Ratio Rank: 20
VBTLX Martin Ratio Rank: 18

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.

VEDTX vs. VBTLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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.

	VEDTX	VBTLX	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	0.92	-0.93
Sortino ratio: Return per unit of downside risk	0.10	1.36	-1.26
Omega ratio: Gain probability vs. loss probability	1.01	1.16	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.00	1.22	-1.22
Martin ratio: Return relative to average drawdown	-0.01	3.38	-3.39

VEDTX vs. VBTLX - Sharpe Ratio Comparison

The current VEDTX Sharpe Ratio is -0.00, which is lower than the VBTLX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VEDTX and VBTLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VEDTX vs. VBTLX - Drawdown Comparison

The maximum VEDTX drawdown since its inception was -60.00%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VEDTX and VBTLX.

Drawdown Indicators

	VEDTX	VBTLX	Difference
Max Drawdown Largest peak-to-trough decline	-60.00%	-18.81%	-41.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-2.89%	-9.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.46%	-6.00%	-20.46%
Max Drawdown (5Y) Largest decline over 5 years	-55.15%	-18.14%	-37.01%
Max Drawdown (10Y) Largest decline over 10 years	-60.00%	-18.81%	-41.19%
Current Drawdown Current decline from peak	-55.03%	-2.56%	-52.47%
Average Drawdown Average peak-to-trough decline	-23.65%	-2.66%	-20.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	1.04%	+4.66%

Volatility

VEDTX vs. VBTLX - Volatility Comparison

Vanguard Extended Duration Treasury Index Fund (VEDTX) has a higher volatility of 4.52% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.14%. This indicates that VEDTX's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEDTX	VBTLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	1.14%	+3.38%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	2.93%	+7.35%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	3.82%	+10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.82%	6.01%	+15.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.05%	4.98%	+15.07%

VEDTX vs. VBTLX - Expense Ratio Comparison

VEDTX has a 0.06% expense ratio, which is higher than VBTLX's 0.04% 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%.

Dividends

VEDTX vs. VBTLX - Dividend Comparison

VEDTX's dividend yield for the trailing twelve months is around 5.23%, more than VBTLX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares	4.02%	3.87%	3.69%	3.10%	2.59%	1.96%	2.39%	2.74%	2.57%	2.56%	2.53%	2.82%
VEDTX Vanguard Extended Duration Treasury Index Fund	5.23%	4.94%	4.68%	3.55%	3.30%	1.96%	5.56%	3.53%	2.94%	2.23%	5.34%	4.28%

Frequently Asked Questions

Can I hold both VEDTX and VBTLX in my portfolio?

VEDTX and VBTLX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEDTX or VBTLX?

VEDTX has higher volatility (4.52%) compared to VBTLX (1.14%). In terms of maximum drawdown, VEDTX dropped -60.00% vs VBTLX's -18.81%.

Which has better risk-adjusted returns?

VBTLX currently has the higher Sharpe Ratio (0.92 vs -0.00), 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.