VEIRX vs. BSBIX

Last updated Jul 14, 2026

VEIRX (Vanguard Equity Income Fund Admiral Shares) and BSBIX (Baird Short-Term Bond Fund Institutional Class) are both mutual funds - VEIRX is a Large Cap Value Equities fund actively managed by Vanguard, while BSBIX is a Short-Term Bond fund tracking the Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index. VEIRX is actively managed, while BSBIX is passively managed. Over the past 10 years, VEIRX returned 11.68%/yr vs 2.46%/yr for BSBIX. At a correlation of -0.10, they often move in opposite directions. VEIRX charges 0.19%/yr vs 0.30%/yr for BSBIX.

Performance

VEIRX vs. BSBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Equity Income Fund Admiral Shares (VEIRX) and Baird Short-Term Bond Fund Institutional Class (BSBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEIRX achieves a 10.68% return, which is significantly higher than BSBIX's 0.95% return. Over the past 10 years, VEIRX has outperformed BSBIX with an annualized return of 11.68%, while BSBIX has yielded a comparatively lower 2.46% annualized return.

VEIRX

• 1D: 0.40%
• 1M: 1.17%
• 6M: 8.01%
• YTD: 10.68%
• 1Y: 19.87%
• 3Y*: 16.59%
• 5Y*: 11.53%
• 10Y*: 11.68%

BSBIX

• 1D: -0.11%
• 1M: 0.12%
• 6M: 0.85%
• YTD: 0.95%
• 1Y: 3.63%
• 3Y*: 5.15%
• 5Y*: 2.54%
• 10Y*: 2.46%

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

VEIRX vs. BSBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEIRX Vanguard Equity Income Fund Admiral Shares	10.68%	17.25%	14.91%	7.76%	-0.08%	25.49%	3.08%	25.34%	-5.68%	17.68%
BSBIX Baird Short-Term Bond Fund Institutional Class	0.95%	5.67%	4.99%	5.65%	-3.64%	-0.42%	4.23%	4.68%	1.49%	1.53%

Correlation

The correlation between VEIRX and BSBIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Aug 31, 2004	-0.10

The correlation between VEIRX and BSBIX shifts across timeframes, from -0.10 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VEIRX vs. BSBIX — Risk / Return Rank

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

VEIRX

VEIRX Risk / Return Rank: 70
VEIRX Sharpe Ratio Rank: 71
VEIRX Sortino Ratio Rank: 71
VEIRX Omega Ratio Rank: 68
VEIRX Calmar Ratio Rank: 74
VEIRX Martin Ratio Rank: 67

BSBIX

BSBIX Risk / Return Rank: 93
BSBIX Sharpe Ratio Rank: 93
BSBIX Sortino Ratio Rank: 93
BSBIX Omega Ratio Rank: 94
BSBIX Calmar Ratio Rank: 91
BSBIX Martin Ratio Rank: 94

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.

VEIRX vs. BSBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Admiral Shares (VEIRX) and Baird Short-Term Bond Fund Institutional Class (BSBIX). 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.

	VEIRX	BSBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.58	-0.72
Sortino ratio: Return per unit of downside risk	2.68	4.01	-1.34
Omega ratio: Gain probability vs. loss probability	1.34	1.64	-0.30
Calmar ratio: Return relative to maximum drawdown	2.69	3.77	-1.08
Martin ratio: Return relative to average drawdown	9.97	16.21	-6.24

VEIRX vs. BSBIX - Sharpe Ratio Comparison

The current VEIRX Sharpe Ratio is 1.86, which is comparable to the BSBIX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of VEIRX and BSBIX, 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

VEIRX vs. BSBIX - Drawdown Comparison

The maximum VEIRX drawdown since its inception was -54.02%, which is greater than BSBIX's maximum drawdown of -5.95%. Use the drawdown chart below to compare losses from any high point for VEIRX and BSBIX.

Drawdown Indicators

	VEIRX	BSBIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-5.95%	-48.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-0.94%	-6.19%
Max Drawdown (3Y) Largest decline over 3 years	-13.36%	-0.94%	-12.42%
Max Drawdown (5Y) Largest decline over 5 years	-15.12%	-5.93%	-9.19%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-5.95%	-29.31%
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-6.48%	-0.55%	-5.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	0.22%	+1.71%

Volatility

VEIRX vs. BSBIX - Volatility Comparison

Vanguard Equity Income Fund Admiral Shares (VEIRX) has a higher volatility of 2.56% compared to Baird Short-Term Bond Fund Institutional Class (BSBIX) at 0.53%. This indicates that VEIRX's price experiences larger fluctuations and is considered to be riskier than BSBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEIRX	BSBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	0.53%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	7.50%	1.10%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	1.37%	+8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.86%	1.96%	+11.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	1.67%	+14.57%

VEIRX vs. BSBIX - Expense Ratio Comparison

VEIRX has a 0.19% expense ratio, which is lower than BSBIX's 0.30% expense ratio.

Dividends

VEIRX vs. BSBIX - Dividend Comparison

VEIRX's dividend yield for the trailing twelve months is around 10.03%, more than BSBIX's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSBIX Baird Short-Term Bond Fund Institutional Class	4.24%	4.35%	4.34%	3.41%	1.79%	1.42%	2.61%	2.49%	2.20%	1.73%	1.60%	1.62%
VEIRX Vanguard Equity Income Fund Admiral Shares	10.03%	11.03%	9.83%	7.96%	8.79%	7.71%	2.86%	4.45%	10.98%	3.04%	3.87%	6.48%

Frequently Asked Questions

Can I hold both VEIRX and BSBIX in my portfolio?

VEIRX and BSBIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEIRX or BSBIX?

VEIRX has higher volatility (2.56%) compared to BSBIX (0.53%). In terms of maximum drawdown, VEIRX dropped -54.02% vs BSBIX's -5.95%.

Which has better risk-adjusted returns?

BSBIX currently has the higher Sharpe Ratio (2.58 vs 1.86), 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.